Nothing stops a successful event in its tracks like running out of money. One of the most common areas that event hosts want to save money is the number one area where no expenses should be spared: A/V. The technical elements everyone sees, hears, and experiences. We encounter this issue repeatedly, but with the right budgeting guidance, these five common mistakes can be avoided.
- Assuming You Have To Use In-House A/V Equipment or Teams (Or Both)
Hint: You don’t. Your event requires the dedicated expertise of A/V professionals who work with reliable, cutting-edge equipment on a daily basis. Skilled professionals who specialize in providing the highest quality experience would be better than whoever is on shift at the venue for your event dates. Learn more about this here: AV Myth-Busting: Do You Really Need the Venue’s In-House A/V?
- Underestimating A/V Requirements
Failing to grasp the audiovisual requirements for your event can lead to technical glitches, poor audio quality, mixed messages, subpar visuals, and a lack of engagement, or worse, declining attendance. All of these add up to missed opportunities and a plummeting ROI.
Lighting, audio, projection, and the overall vibe of your experience hinge largely on A/V assets. A detailed breakdown or comprehensive blueprint that outlines the A/V needs for your event is the only way to ensure you mitigate risks and hit your mark.
- A Lack of Financial Buffer
Even a professionally planned and managed event can’t guarantee the absence of unexpected issues. A contingency fund provides a financial buffer, allowing you to address any potential issues promptly without draining funds from other line items.
- Not Planning For Taxes
Small expenses like these add up, especially for large-scale events. Do your due diligence through venues and vendors to get quotes on these figures and adjust your budget accordingly. Ensure the budget accurately reflects the actual costs, including taxes where applicable.
- Losing Sight of The Big-Picture Goal
You’re not just hosting an event, you’re creating an experience. If the experience is bad or your communication is ineffective due to a poorly managed or implemented A/V setup, you’ve lost the goal before you ever got started. There are no do-overs for live events, just right here and now. It’s critical that event A/V is set up and managed with precision and skill to avoid losses in engagement, satisfaction, sales, or other outcomes.
As event planning professionals, we can help you set a realistic budget for your upcoming event. Contact us and let’s create something extraordinary together!