A recent study from Global DMC Partners found that increased costs are a top concern among event and meeting planners. They are often pushed to deliver exceptional experiences within restricted budgets. With this in mind, here’s how you can reduce the audiovisual cost of events to stay on budget and still stage a memorable experience for attendees.
Read the Room
Evaluate the entire site of the show. This might include a main ballroom and several smaller rooms, or many different sites if you are streaming to various locations. Take note of what technology is already in place to avoid bringing equipment you don’t need. Consider how you will use the space so that your design will make clever use of the layout, existing lighting, and sound equipment to maximize the show experience in a cost-effective manner.
A hybrid show is one very effective way to keep expenses down. It reduces the cost of travel and accommodations by allowing some subgroups to attend virtually. Streaming technology utilized for hybrid events is increasingly robust and cost-efficient, and we have found that innovative design makes hybrid shows just as exciting and inclusive as fully in-person meetings.
Use an AV Vendor with Owned Inventory
Keeping your AV event costs down is harder if you’re outsourcing equipment. At AVD, we have an enormous 30,000-square-foot warehouse that gives our clients a wide range of options without the extra expenses that come from having to rent the necessary components. Our experienced warehouse and project management teams can assemble the AV tech necessary for your specific event, without stretching your budget. We use only the latest, state-of-the-art audiovisual technology, and bring critical backup equipment to every event without charge unless the gear gets deployed.
Maximize Cost Savings with Energy-Efficient Equipment
Choosing equipment that is ENERGY STAR certified, using energy-efficient LED lighting, and setting your equipment to automatically power down when not in use can save money. Newer, state-of-the-art technology like laser projectors can also help to reduce power consumption. Using personnel that have a sophisticated grasp of the technology can help streamline the equipment needed to achieve your desired effects.
Plan Ahead When Traveling
The demand for venues exceeds supply during busier months, which drives up prices. Plan and book your venue and travel early – sometimes years ahead – to avoid settling for fewer options and higher prices. When contracting with a venue, leverage your AV partner to offer cost savings advice. AVD team members are experts in finding hidden costs or issues that may arise at a venue or in their contract (which leads us to our next two points).
Negotiate Internet Bandwidth
The price for wifi and access from a venue can be astronomically high, but there may be opportunities to negotiate internet bandwidth with a venue coordinator to bring the price down. Of course, you need to ensure you have sufficient bandwidth for a virtual or hybrid event. Your AV vendor can provide minimum bandwidth requirements.
Read the Fine Print
Ensure any quotes, invoices, or estimates from vendors are detailed and transparent– and read them carefully. For example, the overall industry costs for quality technicians and show/stage managers are increasing: understand the role of each labor position presented to you in an AV quote. There may be opportunities to reduce costs by handling certain functions internally (e.g., PowerPoint graphic edits, Q&A monitoring and facilitation).
Be specific and complete about all your needs and possible last-minute changes. Ask your AV vendor for advice about getting the best quality for your budget. We appreciate it when our clients collaborate with us and let us provide them with options.
Expertise in AV Reduces Costs
Your event deserves to be a complete fulfillment of your vision. Our expertise, cutting-edge inventory of equipment, and creativity ensures that we will impress and engage your audience while staying on budget.
“We take great pride in our team,” says Steve Levin, Director of Business Development. “Our people have an average of 17 years of experience in the AV business, and are well-versed in delivering the impressive results you want at the right cost.”
Looking to plan your next corporate meeting or event? Visit our site or call (973) 993-8500 to speak with an AVD team member.