Overnight Displays Blog: Budgeting for your next project

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Monday, June 22, 2015

Budgeting for your next project

Budgeting is stressful ... anywhere.

When planning an event making sure that all i's are dotted and all t's are crossed is easier said than done.

Start off with what is your event's goal?

  • Brand awareness
  • Product launch
  • Selling something
Once you figure out why you are having your event, plan how the goals are going to get hit. 
  • How are you going to promote the brand?
    • Supporting signage
    • Handing out flyers
    • Have brand ambassadors talking to prospects
  • What are you going to launch?
    • Do you have a product to show
    • Scheduling a demo of the product
    • Giving out samples?
      • How much do the samples cost in comparison to the full product?
  • What is being sold?
    • How are you going to sell it?
    • What is going to be giving in return?
    • Do you have contracts, receipts, or a way to follow up with leads?
By finding your goal, then how to hit it, sitting down and planning what you need to spend to make it profitable. Planning out how you are going to get people there, and how much you are going to invest to make these things help. 

Create a Marketing Plan, include everything you are going to do. Don't overwhelm yourself by holding all for the tasks for you, delegate tasks out to your team. Once the Marketing Plan is complete, add up all of the costs to get people in the door, all off the costs to get your prospects enthralled with your event and brand. Make sure to calculate the costs of room rentals, printing materials (signage, banners, booths, step and repeats), social costs, staff hours and travel. 

All of these small things add up to the cost of an event, being prepared will help your event run smoothly. 

Good luck! 

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