Are Event Management Companies Expensive?

What services do event management companies provide?

While we can’t speak for every event management company, most should offer a complete end-to-end service. Ideally, the services should be tailored to meet your specific needs. Firstly, event management companies are impeccable planners. They can handle everything leading up to the event, including themes, budgeting, venue bookings, catering, audio/visual, guest management, transportation, developing event apps and so much more. They should also assist you in ensuring the event runs smoothly on the day.

The benefits of using event management companies

There are significant benefits to hiring event management companies. If you’ve ever tried to plan a large-scale event like a conference, you’ll know there’s a lot to consider. Event managers have extensive expertise in planning and running successful events, and they also have a network of suppliers, venues, guest speakers, entertainment and catering companies they trust. Here is a breakdown of why using an event management company is a smart investment.

Save time and money

Although event management companies aren’t free, they deliver exceptional value. Firstly, they save you time. There is so much to coordinate when planning a large event that it’s almost a full-time job. If you can’t spare an experienced staff member to plan the event, hiring experts is the best choice.

An event manager’s expertise allows them to streamline the planning process and they know how to get great deals from trusted suppliers. So, despite their fees, event management companies maximise your budget and essentially pay for themselves.

Focus on what’s important

Another benefit of hiring an event management company is that you can focus on what’s important to you. Just because you’re planning an event, daily business doesn’t go away. So, rather than using internal staff who don’t have event management expertise, you can use the professionals and stick to what you do best. This frees up your staff to ensure your business keeps running smoothly in the lead-up to an event.

Bringing creativity to your events

One thing that event management companies bring to the table is creativity. If you’ve ever attended a boring, dry event, you’ll know why this is so important. Event management companies can assist you with event themes and topics, and they can even suggest and source guest speakers. By bringing in skilled public speakers and industry experts, you can engage your guests and give them an experience they’ll talk to others about.

Post-event evaluation

Planning and executing an event is one thing, but do you have systems in place to assess its success? Event management companies provide post-event support that helps you for future endeavours. Whether it’s gathering attendee feedback or financial reporting, analysing your event performance is crucial. Best of all, you’ll learn more with every event and continually improve.

The importance of event budgeting

All events should have a budget, and this is something that an event manager can assist you with. Planning your budget carefully allows you to prioritise your non-negotiables on the things that matter most. Event managers are experts in cost saving, and they’re skilled in managing your budget from day one. For example, if guest speakers are your major priority, you can allow more money for this, and less on other aspects. It’s a juggling act, but skilled event management companies help you maximise your budget and make your dollar go further.

How do event management companies charge?

All events are different, which means all event management costs are also different. Your event management company should provide clear pricing so that you can factor it into your budget. Their fees can be structured in some ways, including:

•       Flat rate
•       Hourly rate
•       Percentage of event cost

Most people like having a clear figure to work with, so even if your event management company charges a percentage, you’ll be able to easily see the cost based on your budget. Ultimately, it’s about establishing clear expectations of the price, and everything that is included or excluded in the cost.

Need help with your next big event?

Whether you’re planning a conference, awards night, networking event or a company retreat, Captivate are the experts you can count on. From event themes and planning through to successfully running the event and gathering feedback, we offer an end-to-end event management service that takes all the stress away from you. We can ensure your next event engages your guests and runs seamlessly. Contact us to find out more!