How to Hold a Networking Event on a Tight Budget

Hosting a networking event can help to raise your firm’s profile and it gives you the chance to make useful connections with potential customers, suppliers, thought leaders and others. However, if you’re not careful, these gatherings can end up costing your business big. To help you save money on your next networking session, take a look at these simple planning tips.

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Choose the right venue

Firstly, choose the right venue. Depending on the type of event you wish to stage and the space on offer within your premises, you may want to consider hosting the occasion in your own offices. This can dramatically cut your costs. Alternatively, look out for a venue that offers good value for money, and don’t be shy about trying to negotiate a better price with the owners. Your venue may well be your biggest expense, so it’s vital that you do all you can to find the best offer.

Target your spending

Be sure to target your spending into areas that people will actually notice too. For example, rather than splashing out on decorations for entrances and lobbies, save these accessories for the meeting room itself. There is no shortage of low cost presentation equipment available now that can help you to brand these spaces and make them suitable for networking events. Specialist providers like Furniture At Work™ offer display boards that are easy to transport and set up and can be used time and again. The addition of posters and banners can also help to give these rooms a professional look.

Meanwhile, if you’re providing food and drinks, work with chefs or catering companies to come up with enticing menus that are inexpensive to produce. With a little imagination and the right contacts, it’s possible to achieve impressive results without busting your budget in the process.

Use social media to spread the word

For your event to be a success, you’ll need to attract enough interest in it. In the past, this may have required you to shell out for print or radio ads. Now though, you can take advantage of social media to spread the word. This approach is simple and free, and it can be an effective way to reach out to your target audience.

Let sponsors take some of the strain

You may be able to recoup some of your costs through ticket sales, but it’s also important to get sponsors involved. By getting companies to pay for advertising space, you should find it easier to stay within your spending limits. As well as cash, you can work on persuading sponsors to offer resources ‘in kind’. This can work for anything from stationery supplies to goodie bags

By following advice like this, you should find it easier to bring your networking event in on budget.