The cost of the event is just one consideration when planning for your corporate event entertainment. There are other event costs that must be factored into your overall event budget. And, while the cost of the overall event may be high, there are a few ways to recoup some of the costs if your entertainment budget isn’t as high as you’d like.
When you make the overall budget, consider the venue rental, the event website costs, catering costs and any travel costs that may be incurred. Keep in mind, however, that the main draw of an event is generally the entertainment. If the food is expensive and high quality but the entertainment just isn’t up to par, you’ll make a bad impression. People may appreciate the food, but they come to be entertained.
The entertainment budget should take into account the approximate number of people attending as well as the length of the event. Longer events may require multiple entertainment segments. If you have a large crowd, more elaborate corporate event entertainment will be expected. Also consider the space available in the venue. A large crowd in a large, open space needs something highly visual and spectacular. A mid-sized crowd in a space with a stage could be entertained by a single entertainer, a band or a theatrical production. Each of these entertainment types comes with a different cost scale.
Recouping Event Costs
To offset some of the costs, some companies seek out corporate sponsorships. These sponsorships can be as small as hanging a corporate banner behind the buffet line or as big as a staffed booth from the corporation ready to hand out logo hats and bumper stickers. If the event is a large one, consider multiple sponsorships.
Ticket sales are sometimes used to generate revenue for corporate event entertainment. If you’re offering the event as a perk and don’t want to charge, you can still recoup money with sponsorships. If you are planning an elaborate event and the company feels that ticket sales are appropriate, these can do anything from offset some of the costs to completely pay for the event.