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The TOP 5 Biggest Budget Challenges for Events Planners - and the Solutions

  • May 26,2022
  • Legacy Marketplace

We don’t need to tell you that event management can be stressful. It’s even more so if you also want to be sustainable. And perhaps the most stressful part is managing the event budget: they’re rarely generous to begin with and they diminish before your eyes as the deadline approaches!

Whether event planning or management is your main job or something you’re tasked with in addition to everything else (!), it can be a recipe for disaster.   

Fortunately, it’s something we, as experts in the sustainable event management, sourcing and consultancy space, are all too familiar with.

That’s why we’ve built Legacy Marketplace.

We know how powerful positive experiences are in creating a better society for all. And in event management, that starts with smart event planning that empowers events professionals. It all feeds into more effective, engaging and impactful events. I.e. – successful ones!

It’s also no longer enough to view sustainability as a nice to have. For us, it’s the very foundation of our business and our mission is to enable everyone to easily bake sustainability into their event planning.  

By making your job easier, we can make the whole process better. And we both meet our environmental ambitions too. It’s a win/win!

So, what’s your biggest event planning budget challenge? We think we already have the solution

1- Opaque Pricing

We know that this is the events industry’s biggest issue.

Whether it’s a product you’re buying or a service you’re booking, you can often be faced with additional costs on the final bill. These might be admin, booking, commission or management fees.

In any case, pricing that is not transparent plays havoc with your event budget – and your time.

While our industry is – slowly – moving towards more transparent pricing, the pace is slow.

Meanwhile, we’ve been quick to see the benefits, beginning with better relationships with our customers who value clarity and convenience.

2- Getting Quotes…

Getting quotes is another bugbear for every event planner.

You most likely have a whole shopping list of things you need to source from a wide variety of suppliers. If you’re smart – and you have time - you’ll write as detailed a brief as possible for each, giving clear directions on what it is you’re looking for along with any specific parameters.

What complicates things is that suppliers will come back with quotes for items or options of varying specifications, so you’ll rarely get to compare like for like.

3-…and Comparing Quotes

Our top tip here is to ask your suppliers to supply quotes in as much detail as they can.

Don’t be afraid to ask for a breakdown of what exactly the quote includes – and what it doesn’t.

Again, it’s a time-consuming process but it will save you tantrums and tears further down the line!

If you can’t avoid having to get and compare quotes, think about it as an opportunity to build relationships with your suppliers. You’ll get to know which ones you work with best and who can add most value to your event planning process. A great supplier that you can work with again and again is worth their weight in gold.

4- Getting Costs Approved (and within your event budget)

If you’re working as part of a larger team and your purchasing needs approval, that can also add time and delay to your process. Especially if you have to get and compare quotes as described above!

With Legacy Marketplace, our functionality enables you to bookmark favourite products and share your account with your team. That’s also a great way to help colleagues who are looking for items you may have already found – share the love! 

You can also quickly and easily add items to your basket – most have no minimum order requirement – and pay in the most transparent way.

5- Thinking that Sustainable Means Unaffordable