Corporate Event Planning Mistakes That Will Cost You Money

Event Tips October 20, 2022

To err is human, but when it comes to corporate event planning mistakes, they can be costly. One wrong move could undermine your event budget and reputation, but you can avoid a few common pitfalls by learning from our expertise. Here are five corporate event planning mistakes that will cost you money—and ways to prevent them. 

Randomly Selecting Event Dates

Coordinating schedules is challenging, especially when hosting a large corporate event. While it’s unlikely you’ll ever find a “perfect” date that seamlessly integrates into every attendee’s schedule, you can preemptively contact all participants to lock in a date that meshes well with the majority.

There are a few reasons to do this. First, you want to maximize participation. Second, some event spaces have dynamic pricing models. In other words, prices can vary weekly, depending on demand. Never assume that high and low-season rates always apply. Also, consider national and local holidays, especially when traveling. 

Start Planning Now 

Procrastination is a leading corporate event planning mistake that will cost you money. The longer you neglect your planning duties, the less flexibility you have. It’s better to find out that your ideal venue, entertainer, or catering company is booked long in advance rather than just weeks from the event.

Set the Agenda. Then Book the Venue 

Another common mistake is booking a venue before finalizing the agenda and logistics. For example, distance and transportation costs can ruin your budget and waste valuable time. Participants will be frustrated if they spend more time traveling to where they need to be than they do experiencing your event. 

Always Have a Plan B

What happens when the keynote speaker becomes ill or misses a flight, technology fails, or food arrives late? Nothing good—especially if you haven’t planned ahead. You’ll never be able to anticipate every possible setback, but you can have plans in place to respond to emergencies.

Some venues allow you to negotiate “rain date” clauses that kick in should unforeseen circumstances arise. In situations where hundreds of people travel for the event, you may need to pay to secure secondary vendors that will respond in an emergency. 

Double-Check Often

Imagine a situation where the food is late, so you call only to find out the caterer lost your order. Or picture arriving at a venue an hour before the event launch only to discover the space was double-booked.

You can avoid situations like these by double, triple, and quadruple checking. Maintain ongoing communication with your vendors leading up to the event and check in frequently in the weeks, days, and hours leading up to the event. In short, make sure things never fall through the cracks or are forgotten.

CSP Worldwide: Your Corporate Event Solution 

At the heart of CSP is a world-class team of the most creative and passionate people you will meet. Our team members are experts in their craft, from our pre-production teams, our onsite producers and performers, to our behind-the-scenes technicians, editors, and staff.

For decades, we’ve planned every event imaginable, and corporate events are our specialty. Contact us today, and let us help you make your next corporate event a success. 

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