9 Strategic Ways to Spend a Leftover Event Budget

June 13, 2019 - By: Shauny Silas

Saving money makes a lot of cents. But what do you do when you successfully save so much that you have a leftover event budget? It may seem too good to be true, and it’s easy to get carried away. Before you go on that spending spree with your leftover event budget, consider these 9 strategic ways to spend your leftover event budget.

  1. Retarget People Who Dropped During Registration                                                  Retargeting is one of the best ways to turn skeptical event goers into fired up attendees. Don’t let your possible event attendees off the hook, especially if they have already visited your event registration page. Give that extra nudge for them to attend your event.
  2. Audience Engagement Apps                                                                                                Interact with your audience using audience engagement apps. Not only keep your audience’s attention but stimulate their minds with apps that allow them to vote, share talking slides to audience member’s mobile devices, take quizzes and use other forms of engagement in real time.
  3. Social Media Promotion                                                                                                             Your return on investment for social media promotion can be the difference between a sold out event and an event that flops. Have a clear social media strategy laid out before you do this.
  4. Update Your WiFi                                                                                                                      Save yourself the headache and update your WiFi. According to an EventMB study, 79% of event planners say that WiFi availability and performance is still a big issue for the events industry. Bandwidth, speed and connectivity issues are just a few problems your guests (and you) are tired of having. Whether you are charged ridiculous rates or are constantly paying for overages, upgrading your WiFi an extremely savvy way to spend your leftover event budget.
  5. Upgrade Your Event Website                                                                                                  Event chatbot? Seamless user experience? 100% mobile friendly navigation? There’s always room for improvement on your event website. Investing your leftover event budget in your website can increase your traffic website and have a large impact on the number of people who sign up for your event.
  6. Pay Next Year’s Travel Costs                                                                                                   The early bird catches the worm. Start planning your travel accommodations for the following year early to get discounted rates and more travel flexibility. You’ll be thanking your past self when the same time of year rolls around the following year.
  7. Business Cards                                                                                                                             First impressions matter. Even in the Digital Age, tangible business cards can make a big difference. Start off on the right foot with vendors, possible partners and sponsors with business cards that will enhance your credibility and professionalism.
  8. Team Outing                                                                                                                                Your team deserves it (and you do too). Whatever outing it may be, show some appreciation for your team members who work year round to make your event successful.
  9. Save The Money                                                                                                                             We know, this is probably not what you want to hear. But this can potentially be one of the best ways to spend your leftover event budget, by not spending it. Give the extra cash a good home such as an emergency fund, a savings account, or allocate it to something that will make your event even bigger and better next year.

Event budgeting is a learning process. If you had a leftover event budget this time, congrats! However, don’t recklessly spend your future event budgets just because you had a leftover budget this time. A leftover budget is great to have, but won’t always be there!

 

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