Budgeting events

budgets

(Shaena Harrison) #1

I’m looking for practical information on budgeting for events.

Has anyone had quotes from companies for an event concept? Did they break it down into specifics? ie. This is the cost of a project manager, the idea, the venue, the logistics, meals, speakers, etc etc?

I am thinking of a touring event across Europe but it is hard to give a “set price” since so many costs are up in the air.

I know it’s a loaded question with a million answers, so it would be great to get down and gritty and talk numbers.

What would you expect to pay for:

An event with 30-50 qualified leads
Venue
Food/drink
Logistics
Speakers
Marketing/distribution

For example, the recent TEDx we produced cost a total of 290,000SEK (£26,000) and had 850+ people - if we would have had to pay for speakers, staff, venue, etc, I am sure we would have been around 5M (£445,800) minimum.


(Melissa Saunders) #2

Hi Shaena, wow - that’s quite a project! I would look to spend £250-£350 a day for a good marketing manager and would plan a budget to promote each location as well as an overall awareness campaign. Digital marketing will probably be your friend here as you can be so targeted and easily manage your budget. I’m not able to assist outside of marketing but would recommend you get three quotes for anything you’re using new suppliers on and ensure you give them as full a brief as possible so surprise costs later on are less likely.
Perhaps some of our @Conferences @CWS @Experiential_Brand members can help further?


(Shaena Harrison) #3

Thanks Melissa! I appreciate the reply.


(Melissa Saunders) #4

no worries. Best of luck!