Create an MS Excel file modified Conference Event Budget based on the event my proposed idea which is My event would be called Leage and Rave since my favorite 2 types of events are esports and concerts (raves) and League of Legends is my favorite esports game that I watch.
Read Budget Saving Strategies (attached) first. Then:
Create an MS Excel file modified Conference Event Budget based on the event my proposed idea which is My event would be called Leage and Rave since my favorite 2 types of events are esports and concerts (raves) and League of Legends is my favorite esports game that I watch. The goal of the event would be raving while also playing video games.
using the Conference Event Budget Template (attached).
Be familiar with the components and elements of the Conference Budget Template.
You must include estimated revenues and expenses (to the best of your ability) based on the event my proposed idea above.
You are expected to modify the Conference Event Budget Template (categories and items) (attached/provided) to best fit the event I proposed above.
Refer to the Event Budgeting Template Kit (attached) which has additional expense categories and items that you can use or draw from.
There is no word count requirement
This is a spreadsheet and does not require paragraphs of text; use the templates provided as a guide and template to create your event budget
Requirements: Excel file.
© BizzaboThe Event Budgeting Guidefor In-Person, Hybrid, & Virtual Events
2What’s InsideAbout This Ebookp.30110 Things To Consider That Will Impact Your Budgetp.402Virtual Event Budgetp.1003In-Person Event Budgetp.1504Hybrid Event Budgetp.2305Annual Event Budget Strategyp.32
3© BizzaboAbout This EbookBudgeting for an event can feel like an overwhelming and tedious step in the event planning timeline. However, an event budget is a key ingredient forwhen it comes to proving ROI to leadership and executives so you can maximize their investment. Event budgeting has grown more complex since the COVID-19 pandemic threw a wrench into the long-standing and more predictable budgeting practices of the past. Virtual, in-person, and hybrid formats have dramatically changed the way Event Experience Leaders approach budgeting, so we’ve created this ebook to help you master your event planning budget in a time of change and uncertainty. This guide will help you create an event budget that’s thorough and
4The main purpose of your event budget isn’t to keep tabs on spending, but to serve as a guide so you can confidently allocate funds to the most important items, as determined by your event goals. There are two facets of event goals to consider: company goals and attendee goals.1. What are your event goals?Your event goals are a critical first step because the purpose of your event should directly inform where you spend the most. If the purpose of your event is to drive brand awareness, then you might want to focus your budget on areas like signage, branding, and design. If you want to turn a virtual experience into a revenue generator, you’ll want to think about ways to monetize your virtual event. Make sure your event goals align with your budget, and use them as your North Star throughout the planning and budgeting process01 Ten Things That Will Impact Your Event Budget Before you start filling out an excel sheet, there are some important event budget tips to consider. In order to create the most efficient budget for your event, take some time to answer these 10 questions:Examples of Fixed Costs• Event management software• Entertainment• Speakers• AV and equipment Examples of Variable Costs• Food• Beverages• Swag• Linens and rentals• Security and cleaning
5The format of your event is an important deciding factor when it comes to maximizing your budget. To help nail down the specifics of your event format, ask yourself:• Is your event internal or external?• Is your event virtual, in-person, or hybrid?• If it’s a hybrid event, are you planning a digital-first experience or an in-person-first experience?Once you define the format, you can start to understand how it will affect your budget. An external event might require more funds than an internal meeting. And if you’re planning a digital-first hybrid experience, you’ll want to prioritize the digital audience, which should be directly reflected in the event budget.2. What is the event format?Once you have an idea of your event goals and format, you can get more granular by defining the type of event you’re producing. Similar to the format and goals, the event type — from trade shows and user conferences to leadership summits and fundraising events — will influence how you allocate your budget.Certain types of events are generally known to function as profit generators, breakeven events, or losses. For example, trade shows and fundraising events typically produce a profit, but leadership or VIP summits are often accepted as a loss. The event type should be tied to your event goals, so if the purpose of your event is to generate revenue, you’re probably going to plan a trade show or ticketed conference. If you want to generate brand awareness, on the other hand, you might be okay with producing an event at a loss, because exposure from the event could translate to a greater ROI.3. What type of event are you planning?
6Data from past events can be a great indicator of what has worked and what hasn’t. By examining previous events, you can save yourself a lot of time and guesswork in the budgeting process. Historical data can draw attention to areas where you may have overspent as well as places you may want to invest more money.During the COVID-19 pandemic, many organizers found themselves in uncharted territory with virtual and hybrid events. According to the Evolution of Events Report, 76.5% of planners had never hosted a hybrid event before. That’s why Bizzabo analyzed data from more than 210 virtual events to establish “10 Virtual Event Benchmarks” so you can stay on top of the trends and understand how other event leaders are planning for virtual events. Despite the unknown, virtual and hybrid events offer unprecedented access to event analytics. From the number of attendees per session to average view duration to how many attendees clicked on sponsor pages, there’s more insight than ever before to inform the areas you may want to invest more or less in.4. How will you leverage historical data?Determining fixed and variable costs can give you insight into how much of your budget is subject to change. Fixed costs will not likely change, regardless of how many attendees show up. Variable costs are often dependent on the number of event participants, though they can be dependent on hours in the case of labor and staffing. If you know how much of your budget is variable, you’ll have a general idea of what portion of your budget might change. To take it a step further, you can estimate budget increases and decreases based on your expected number of attendees. For example, if you expect a 40% attrition rate, you can more accurately estimate your variable costs.5. What are your fixed and variable costs76.5% of planners had never hosted a hybrid event before the pandemicExamples of Fixed Costs• Venue rental• Event management software• Entertainment • Speakers• AV and equipmentExamples of Variable Costs• Food• Beverages• Swag• Linens and rentals• Security and cleaning
7The purpose of an event budget is to guide you through the decisions you will inevitably have to make. For example, if you create an event RFP, you might receive multiple vendor quotes and have to choose which one you’ll go with.Deciding ahead of time where to splurge and save will make game-time decisions much easier. Having a predetermined list of your must-haves and your nice-to-haves can help you make more strategic choices in the moment. • A must-have is something you aren’t willing to compromise on. These items will take priority in your budget. • A nice-to-have is an item you are willing to give up if cost becomes an issue.As you think about your event budget, create a list of your must-haves and your nice-to-haves and specify what exactly each category means to you. Perhaps you deem a champagne toast a must, but you may be willing to go for a less expensive brand, so long as you can still delight your guests with a toast. Or, maybe you aren’t willing to compromise at all, and you will prioritize having a top-shelf brand for your toast. On the flip side, a nice-to-have can either mean you’re willing to scratch it entirely, or you’re willing to sacrifice an aspect. For example, if you absolutely need a coat check, but the cost per hour is high, you could hire a coat check attendant for only the first and last hour of your event.6. What are your must-haves and nice-to-haves?“Don’t overshoot your budget, be mindful of where you’re investing your dollars. At Agents of Hybrid, we were intentional to transform the space and prioritized certain line items to elevate the attendee experience.” — Devin Cleary, VP of Global Events, Bizzabo
8Many Event Experience Leaders have a love-hate relationship with the “++” you see on invoices and pricing sheets. The sneaky symbol refers to the extra taxes (+) and administrative/gratuity/service fees (+) that will be added to the total cost. Most venues, vendors, and event providers use the ++ pricing structure, which immediately tells you you’re going to spend more than you see on the page. Sales tax varies by location. On the higher end is New York City, for example, where you’ll pay 8.875% sales tax — that’s the 4.5% New York tax plus 4.5% city sales tax and 0.375% because NYC is in the metropolitan commuter transportation district (MCTD). Administrative fees generally run around 20-23%. These fees can add up quickly, so be sure to consider all the line items that will likely have “++” tacked on in your event budget.7. Did you remember the Plus Plus ++?Every event planner knows you have to plan for the unpredictable. Therefore, your event budget should be a living, breathing guide that changes as you go along. As part of your event contingency plan, you’ll want to allocate about 20% of your budget to a contingency fund. This extra padding can help cover last-minute or unexpected costs such as additional attendees, quotes that were higher than expected, or items you forgot to consider in the initial budget. If there’s another COVID-19 surge near the time of your event, you’ll want to ensure room in the budget for additional safety measures or a switch to virtual only.8. Do you have a contingency fund?Before you determine your budget, it’s worth looking at the ways you can offset the costs of producing your event — from sponsorship dollars to ticket sales and even your own organization. Event sponsorship is a great way to acquire funding, so if you can prove ROI and provide valuable opportunities for your partners, you may increase the investment they’re willing to make. Virtual event platforms can offer deep insights that will help sponsors understand the value they’re getting out of the partnership. In addition to sponsorship, you can generate revenue at your event in other ways. Ticket sales, concessions, exhibit booth fees, and management fees can all drive revenue to help you offset the cost of an event.9. Have you accounted for buy-in from sponsors, other teams, and revenue?
9Finally, if you’re leveraging other teams to help produce the event, recognize that some of the event expenses can come out of their budgets. If the marketing team is assisting in paid advertising to promote the event, for example, your company might want to take the paid advertising spend out of the marketing budget, rather than the events team budget. One of the largest event production costs is the technology. From the event management platform you choose to the engagement tools you use to drive attendee experience to your registration and ticketing system, there are dozens of tools you could purchase in order to plan, promote, and produce an event. Cut down on your largest expense by consolidating your tech stack as much as possible. An Event Experience Operating System is a robust software that includes promotion, engagement, data and analytics, registration management, and more all from one platform. A cohesive OS streamlines your tech stack so you don’t have to worry about balancing so many disparate components.10. Have you consolidated your event technology stack?Now that we’ve identified the 10 key items to consider before you begin budgeting, let’s look at the line items you’ll want to include in your virtual, in-person, or hybrid event budget. For each of these sections, we’ve intentionally included some repetitive items to ensure that each format gives you a complete snapshot of the associated costs.
1002 Virtual Event BudgetIf you’re planning a virtual event, the bulk of your budget will likely go toward event technology and content. Rather than a physical venue, you’ll want to create a “virtual venue,” and rather than onsite swag and food, you may want to send your attendees a surprise in the mail. Although many organizers think the lack of physical space, food, and decor translates to a smaller budget for virtual events compared to in-person ones, that isn’t necessarily the case. Technology is a huge cost and — depending on how creative you want to get with your virtual production — you could be looking at spending the same, if not more, than you would on an in-person event.Here’s a breakdown of the most pertinent costs to consider when planning your virtual event budget. Programming and StaffingWorking with an agency is a smart option if you want to produce a next-level virtual experience. While it can come at a high cost, agencies can help offset other costs by offering their own studios, equipment, and teams.AgencyEven in the virtual space, you may choose to hire an external virtual event planner to help organize your event.Event plannerThe speakers are often one of the biggest selling points of any event, but especially virtual ones where the content is the key offering. If you’re hiring well-known speakers, plan to use up a large portion of your budget here (newer or more niche speakers will expect to be paid fairly for their time, too). Don’t forget, it’s good form to give your speakers thank you gifts.Speakers
11Although sponsors are meant to offset your budget, consider any upfront costs, such as virtual exhibit halls, as well as sponsor gifts.SponsorsWhether you’re hiring a magician, band, dance crew, or mixologist, entertainers usually come with a fee that matches their skill set, experience, and how in-demand they are. Make sure to check if they charge a different fee for in-person versus virtual appearances.EntertainmentFor a virtual event, an experienced MC can help connect the attendees to each other, the speakers, and your brand. Hosts also help guide attendees through the content and structure of your event, making sure to call out what’s important. Our recommendation? Label your host or MC as a splurge/must-have. They will do wonders for your event experience and help event participants connect. Host/MCA sign language interpreter is an important consideration for any event format.Sign language interpreterThe virtual event technologist can determine the best technology for your events and team establish best practices for virtual event AV production. This person is an expert in tech trends and finding solutions to enhance the attendee experience. An event technologist fixes anything that’s broken. If and when things don’t go according to plan, they ensure the virtual experience stays on track by solving technical issues in real time.Virtual event technologistThe executive producer creates and delivers engaging content by working with the team to determine production aspects, including length, format, style, audiovisual elements, and technology. This person’s professional video production experience helps inform decisions around set design, visual language, recording location, and even types of camera lenses — all to create a seamless, unified viewing experience.Executive producer
12Gone are the days when a “virtual stream” consisted of a simple tripod and camera in the back of a room. Today’s camera and sound operators take your virtual events up a major notch. They use best-in-class audio and video tools to create immersive, crisp viewing experiences. To ensure the highest-quality production, virtual events often have multiple camera stations, roving handheld operators, microphone operators, and more.Camera and sound operatorsIf your virtual event platform already has a dedicated success team, you don’t need to budget additional funds toward live attendee support. However, if support isn’t included, we recommend you secure virtual experts who can help ensure a stellar attendee experience.Attendee live supportEvent Marketing and PromotionUnless you’re using an end-to-end Event Experience OS, registration and ticketing will likely be an additional cost you need to allocate to an outside vendorRegistration and ticketingIf you have the budget, a design agency can help create a highly curated brand that’s specific to your event. If you’re looking for a lower-budget option, you may turn to a design agency for your event website, banners, signage, and other elements your team might not have the bandwidth for.Event brand/graphic designA great event brand is about more than just looks. Great copy can’t be underestimated when it comes to driving event excitement and conveying the right message.CopywritingAn event website is a critical component of your event marketing strategy. However, if your event platform does not include an event website, we recommend you budget for one, as it’s one of the best ways to drive registration to your virtual event.Event website and agendaIf you leverage affiliate marketing or influencer marketing to help promote your event, make sure to include those fees in your budget.Affiliate and influencer fees
13Whether you’re promoting event registrations or communicating event updates to those who have already registered, event invitation emails are a crucial part of your promotion. If your virtual event platform includes email as an offering, that’s a great way to consolidate costs. Alternatively, you can hire an outside vendor to manage email marketing.Email marketingFrom social media to Google Ads, paid advertising is an effective way to support event promotion.Paid advertisingEvent TechnologyWondering how to evaluate virtual event platforms? The best way to consolidate your tech stack and your total cost is to invest in an end-to-end virtual event platform that integrates each of the tools we discuss below.Virtual event platformWhether you’re having sponsors at your virtual event, or you just want to capture leads for your own team, make sure you select a tool that can help you do so.Lead capture toolsVirtual events will provide you with a wealth of information. You can see how long attendees spent watching a session, which speakers they liked the best, and more. Unless your platform offers event intelligence, look for a tool that gives you robust insights.Data and insightsA mobile app is a great way to help virtual attendees connect with your event while on the go.Mobile event appOur Evolution of Events Report showed that engagement is among the biggest challenges organizers face when it comes to virtual events. While you can leverage outside engagement tools, many event software providers include engagement tools directly in the platform so you can track your event data all in one place.Engagement toolsCapturing your virtual audience’s attention (especially when you’re competing against other screens and outside stimuli) is a huge task made much easier by delivering production-value content. Broadcasting tools can help you become your own agency and allow you to produce unforgettable virtual events.Broadcasting and streaming tools
14© BizzaboClosed captioning is often included in virtual event platforms, but you can also source a closed captioning or language vendor if need -be.Translation or closed captioningEvent ExperienceEspecially in the virtual space, attendees miss the tangible and fun branded swag they grew accustomed to at in-person experiences. If you plan to mail attendees swag boxes, you’ll also need to plan for shipping expenses. If you’re not sure what to budget, companies like Swagup will send out boxes complete with custom t-shirts, water bottles, notebooks, and more in custom mailers starting at $53/attendee. If physical items or shipping is a bit out of budget, here are some virtual gift ideasyour attendees will love just as much.Swagengagement can come at an added cost depending on what your giveaways, and contestsVirtual Event Budget TemplateDownload our virtual event budget template.
1503 In-Person Event BudgetIf you’re planning an in-person event, the bulk of your budget will likely go toward the venue and onsite experience, including food and beverage. Compared to in-person events of the past, technology plays a much larger role. Virtual events and on-demand content have raised the bar — and attendees expect technologically innovative experiences onsite. Here’s a breakdown of the most pertinent costs to consider when planning your in-person event budget.Programming and StaffingAgencies can help you source incredible venues and design the most innovative spaces out of any four walls. They might even be able to offer their own equipment, such as lighting, which can help offset some of the cost.AgencyEvent planners typically have their own list of preferred partners for anything from food to floral and they can get you a discount with those trusted vendors that will take your experience to the next level.Event plannerSpeakers are a big part of an in-person event, and if you want a recognizable name, you’ll have to put up the budget to match. Remember to budget for a gift for each speaker as a thank you for speaking at your event.Speakers and speaker giftsIn-person sponsorships take a little more up-front budget since you’re likely putting together booths for an exhibit area or creating branding opportunities for your sponsors. However, the sponsors are likely willing to invest more for an in-person event, so any cost you budget for should be more than covered. Again, don’t forget to budget for thank you gifts!Sponsors
16Although performers may cost more at an in-person event than at a virtual event, live entertainment is a great way to engage your audience. EntertainmentA moderator introduces speakers and guides the conversation of your sessions while providing clear directions for your attendees as to what’s happening next throughout the event.Host/MC/moderatorSome companies opt for both video and photo to get the most material to use post-event, while others stick to just photography. Both are a great investment as you can still market your event and brand long after the day is over.Photographer/videographerSign language interpreters are a great way to promote inclusivity and celebrate accessibility at your event.Sign language interpreterAn onsite technician is the event technologist’s in-person counterpart. This person handles onsite technical issues, including those related to video streaming, WiFi, microphones, slide decks, and so on. The onsite tech is vital for ensuring that — across audiences and formats — your event runs smoothly.Onsite technicianMany venues have an onsite team of specialists who are ready to assist with anything from setup and decor to food service. Most spaces also have a dedicated event planner who works with your team and serves as the venue expert. On the day of your event, the event planner will help make sure everything goes smoothly. If you need other services, you can partner with a temp agency to handle staffing and logistics. Venue event staffIf your venue doesn’t include catering as part of the onsite staff, you’ll need a team of servers, chefs, and dish washers to facilitate food and beverage service. Also consider bar staff and sneaky costs that can add up, such as corkage fees.CateringIf you’re planning an event during the colder months, a coat check is a nice touch. Coat check is likely charged by the hour and tips are at the discretion of your attendees.Coat checkYou might be responsible for covering the costs of any freight and load-in/load-out costs, especially if you have rental furniture or decor. Check both the hourly rate per person as well as the cost to reserve any freight elevators or loading docks.Rental and freight labor
17VenueThe price to secure your venue will likely be the largest chunk of your budget, especially if your venue is full-service. Make sure to check the available rooms included in your buyout and see if any rooms (such as breakout spaces or a mother’s room) are an additional cost.Venue rentalSome venues will let you use their furniture and equipment at no cost, but if you do need to rent them, planning your layout will help you budget for tables, chairs, high-boys, stools, or other equipment you might need.Equipment or furniture rentalsWhether you’re planning a touchless or regular check-in, you might need to purchase a badge printer, check-in kiosk, or RFID bracelet/lanyard.Check-inPart of an in-person experience is making sure your event and venue are insured. Most likely, you’ll need to acquire a COI (certificate of insurance) for your venue so everyone is covered in the event something goes wrong or damage occursInsurance/contracts/ permits• WiFi is sometimes included but other times you’ll be responsible. Often, WiFi can also be branded for an extra cost.• Microphones can often be rented at an added cost per mic. L-mics, podium mics, and handhelds are all potential options and might vary in price.• Projectors might be an additional cost per room.Onsite technology
18Food and BeverageMost venues or caterers will offer packages or tiers for food and beverage. This can be based on the timeline, number of guests, and types of meals. A full-day event with breakfast, lunch, and snacks will be more expensive than a cocktail hour or breakfast meeting. Here are a few other things to consider:• Add-ons cover any additional food or beverage request that is not included in your package. For example, your package might include breakfast and lunch, but a mid-morning snack is an extra charge.• Bar or champagne toast fees vary depending on whether you’re having a wine and beer reception or offering spirits as well.• Coffee, tea, and water might seem like a naturally included cost, but make sure you double-check — you don’t want to leave anyone without their coffee.• Special diets and allergies, such as kosher, vegan, or gluten intolerance, usually cost more per plate.Event ExperienceSwag bags are one of the most exciting parts of an in-person experience. Whether you plan to give out t-shirts, lanyards, hand sanitizer, or leather notebooks, your attendees will appreciate the gesture — and you’ll continue to remind them of your event and organization with your branded gifts.SwagContests, giveaways, and games help promote in-person engagement.Brand activationsLighting, Decor, and Event DesignOn top of the furniture you might rent from the venue, you may choose to invest in additional seating to create VIP and lounge areas, bringing the space to life.Rental furnitureFrom uplighting and projections to chandeliers and marquees, lighting can transform your space. Check to see if lighting can be rented directly through your venue or at a discount with your other rentals.Lighting
19If you’re setting up an exhibitor space, you might need to rent booths. In the case of a trade show space, you might choose to invest in even more elaborate rentals, such as lightboxes.Exhibit hallFlowers and greenery are both great ways to warm up a space. FloralYou can either rent linens directly through your caterer or venue or from another vendor.LinensWhether your goal is to create a beautifully branded environment or to share helpful information with your attendees — like the WiFi password or directions — banners, decals, posters, and stickers can help. Materials, size, and design will all factor in to the total cost of your signage.SignageYou may want to have printed materials — such as flyers, brochures, maps, workbooks, or other promotional materials — available for onsite attendees. Make sure to include all costs associated with designing, printing, and distributing those materials.Event materialsHealth and SafetyCompanies like CrowdPass offer health-clearance applications to help you safely return to in-person events.Health and safety partnerIf you’re requiring pre-event COVID-19 testing, you may want to consider offering onsite testing too.Testing and temperature checksOffering masks and/or gloves onsite is an inexpensive yet effective way to promote safety at your event. Branded masks can boost awareness for your sponsors or your organization.Masks and glovesSanitizing stations are another inexpensive investment that will help you create a more comfortable environment for everyone. You can also use sanitizer stations as a branding or sponsorship opportunity.Sanitizer stations
20Stickers, posters, and decals are all great ways to communicate your safety protocols with attendees. You can brand these as well and get creative with placement. SignageIf you’re looking for more ways to improve health and safety at your event, you can invest in more touchless technology, especially for high-traffic areas such as check-in.Touchless technologyEvent Marketing and PromotionJust like a virtual event, registration and ticketing can be included in your Event Experience OS, or you can source another tool to manage both.Registration and ticketingAn in-person event might demand more attention to the event brand. Hiring an agency can be a great way to make your brand — as well as your digital marketing and promotional materials — pop.Event brand/graphic designYour website and event marketing will play a vital role in driving registrations. If you plan to hire outside help for copywriting, plan on the added cost (unless you hire a full-service agency that includes copywriting in its package).CopywritingGreat event marketing starts with a great website — no matter what event format you choose. Some event platforms let you create an event website, while others don’t.Event websiteAffililate and influencer, affiliate and influencer marketing can be a powerful way to promote event registration.Affiliate and influencer feesYour event platform might include email marketing already, or you might have to leverage another tool to send your event invitation emails.Email marketingIt’s critical to consider how much of your budget you allocate to paid ads. Paid advertising offers a high-ROI way to promote your event. Paid advertising
21Event Technology Investing in an onsite event platform is a great way to consolidate your event tech stack and optimize your budget. .Event platformCapturing leads for your organization as well as your sponsors is an important way to prove event success and ROI. If your platform doesn’t include lead capturing, consider purchasing a tool to do so.Lead capture toolsIn-person events offer much more data than ever before with the help of technology. If your platform includes event intelligence, you can capture all your event insights in one place. Otherwise, be sure to factor in the cost of additional tools.Data and insightsMobile apps are a great way to enhance the in-person attendee experience. Your event platform might include one already, but if not, an app can be a great investment.Mobile event appAlthough attendee engagement is naturally easier to achieve at an in-person event, you might still consider investing in special engagement tools if they aren’t already included in your event platform.Engagement toolsFor an in-person event, event diagramming tools help you visualize the space and get an idea of how much furniture or other rentals you need. For a socially distanced event, event diagramming is even more important.Event diagramming toolTravel and TransportationWhether you pay for hotel blocks for a large trade show, put up your own staff, or cover the cost of lodging for your speakers and entertainers, hotels can eat up a large chunk of your budget. Timing, bulk discounts, and location will all factor into the cost of hotel accommodations.HotelsSpeakers, entertainers, onsite staff, and attendees may need transportation such as flights, trains, or cars. Make sure you know who will require transit to help accurately estimate the cost.Flights and transportation
22© BizzaboIn-Person Event Budget TemplateDownload our in-person event budget template.
2304 Hybrid Event BudgetIf you’re planning hybrid events, the cost can vary quite a bit depending on the format you choose and the components you plan to include. (To help you decide, take a look at our ebook, The Future Outlook for Hybrid Events.) If you plan to use the simultaneous events model — in which you cater to in-person and virtual audiences — for example, you’ll need a much larger budget than a speaker-only model in which speakers and event producers are the only ones in a physical space. Here’s a breakdown of the most pertinent costs to consider when planning your hybrid event budget. Note that many of these are dependent on the format you choose.“When you create a hybrid event, you’ll really need to create two events at the same time. So that means double the budget, double the people, double the technology. Everything is bigger, everything is more complex.”— Oz Richter, Director of User Research, Bizzabo
24Programming and StaffingWhether you want an expert’s help to design and source venues or create a next-level virtual studio, agencies are worth the investment. Remember to ask your agency if they can supply equipment or studio space.AgencyA hybrid event planner is a great investment so you have one person dedicated to aligning the virtual and in-person portions of your event. As an added bonus, an event planner might have a preferred partner roster you can take advantage of.Event plannerFor certain hybrid models, you might have both in-person and virtual speakers. Consider which speakers will be onsite and which will tune in virtually when you plan your budget. Don’t forget a gift for each speaker.SpeakersYou may have sponsors who strictly participate in just virtual or just in-person opportunities, while others may be interested in hybrid sponsorship. However you partner with sponsors, remember to factor in the upfront costs and gifts associated with sponsorship.SponsorsBoth live and virtual entertainment are a great engagement opportunity for in-person and virtual audiences. To help estimate the costs, consider how you want to showcase the entertainment to your attendees.EntertainmentA great MC can help guide the conversation of your speakers and promote connection and networking between your virtual and in-person attendees.Host/MC/moderatorFor a hybrid event, hiring a photographer or videographer is a great way to capture the excitement of your in-person experience and showcase your hybrid event by highlighting the virtual production that goes on behind the scenes. Plus, making this investment means you’ll have content you can use long after the event is over.Photographer/ videographerWhether you’re welcoming attendees in-person or via a live stream, a sign language interpreter is a great way to embrace accessibility at your hybrid event.Sign language interpreter
25Having a dedicated digital marketing professional on your team can help drive registration and marketing to promote your event. In the past, event professionals were responsible for promoting and measuring the success of their events. Modern event teams often include specialized roles, such as audience development manager, to ensure success is measurable and repeatable.Audience developmentThe Event Experience Manager is a new role that reshapes the way we think about events. This person has all of the ever-changing responsibilities of an event planner and is dedicated to managing, auditing, and delivering a great event experience. This role helps event teams provide meaningful experiences, whether attendees are in a virtual, in-person, or hybrid setting.Event Experience ManagerThe virtual event technologist is an important role in a hybrid event because they guide event technology choices and maximize your tech stack. As a trends expert, they can advise on ways to enhance the hybrid attendee experience and provide real-time support for the virtual portion.Virtual event technologistAn executive producer will help craft an engaging hybrid event by ensuring your content is delivered through expert video production. From set design and location to camera lenses, this person will help create a seamless viewing experience across both audiences.Executive producerCamera and sound operators will help create an amazing experience for your virtual attendees by giving them an immersive visual of the in-person portion of the event.Camera and sound operatorsFor virtual attendees, dedicated support is critical to ensure they get the same experience as your in-person attendees. Attendee live supportFor a hybrid event, the onsite technician will serve as the in-person counterpart to the virtual event technologist. This person ensures all the onsite technology — from WiFi to microphones — works as it should and communicates with the virtual technologist to ensure the in-person and virtual portions of your event are in lock step.Onsite technicianFor the onsite portion of your event, the venue staff can assist with setup, take down, and serving food and beverages. They also help ensure the in-person attendees have a safe and comfortable experience. Many venues have a dedicated event planner who will work with you throughout the planning process and be your go-to person the day of the event. Venue event staff
26Your venue may include catering as part of its onsite staffing, or you may need to hire a team to help with the food and beverage prep and serving for your in-person attendees. Remember potential added costs such as bar staff and corkage fees.CateringFor your in-person attendees, a coat check is a nice touch. Make sure to check if the attendant(s) charges hourly and consider how long you plan to have them on the clock.Coat checkIf you’re bringing in rental furniture or equipment to the venue, be sure to consider the load-in/loud-out costs as well as the freight elevator/loading dock reservations.Rental and freight laborVenueThe venue rental will still likely be the largest portion of your hybrid event budget. Determine how many rooms you need, which rooms you need, and any additional spaces you’d like to have, such as breakouts or a mother’s room.Venue rentalIf your venue includes furniture and equipment in the rental price, you can secure a vendor to rent tables, chairs, and other furniture or equipment.Equipment or furniture rentalsDetermine what check-in experience you want your in-person attendees to have. If you go with a touchless check-in, you might need a badge printer, kiosk, make plural: name tags.Check-inCertificates of insurance (COIs) are a common practice among venues to ensure all parties are covered in the event that something goes wrong. Check to see if you need to purchase insurance if you’re hosting an in-person component.Insurance/contracts/permits• WiFi might be included with your venue fee (or offered at an additional cost), and you can check if you’re able to brand your WiFi network.• Microphones, such as L-mics, handheld mics, or podium mics, can all vary in price and are likely an additional cost.• Projectors are sometimes included but might be an added charge by room.Onsite technology
27Food and BeverageMost venues or caterers offer packages or tiers for food and beverage dependent on the timeline, number of guests, and types of meals. For example, an all-day meeting with breakfast, lunch, and snacks will be more expensive than a cocktail hour or a lunch. Here are a few other food and beverage components to budget for:• Add-ons cover any additional food or beverage requests that are not included in your package. For example, your package might cover breakfast and lunch, but a mid-morning snack is an extra charge.• Bar or champagne toast fees vary; a wine and beer reception will cost less than if you offer spirits as well.• Coffee, tea, and water might seem like a naturally included cost, but make sure you double-check.• Special diets and allergies, such as kosher, vegan, or gluten intolerance, usually cost more per plate.Event ExperienceHybrid events offer the chance to give both your in-person and virtual attendees swag, so get creative with it, and make sure you prioritize your virtual audience so they feel included.SwagGames, contests, and giveaways — whether virtual or in-person — can have a significant impact on attendee engagement. You can even use gamification to facilitate connection between the two audiences.Gamification, giveaways, and contestsLighting, Decor, and Event DesignFor the venue portion, additional furniture can be used to create lounges and VIP areas.Rental furnitureYou can rent lighting from your venue or other vendors to help set the tone for the onsite experience.Lighting
28In-person exhibitor halls may call for booths or more elaborate equipment such as lightboxes. Consider the number of exhibitors you expect onsite as well as the equipment you’ll need.Exhibit hallFlowers and greenery are another aspect of experiential design that can elevate the onsite portion of your hybrid event.FloralSometimes you can rent linens directly through your caterer or venue. Alternatively, you might need to rent linens from another vendor.LinensStickers, decals, banners, and posters can amplify your brand and help communicate information — such as the WiFi password or directions — to your attendees. Materials, size, and design will all factor into the total cost of your signage.SignagePrint collateral — such as flyers, brochures, maps, and workbooks — will vary in price depending on the size, material, and distribution of those materials.Event materialsHealth and SafetyHealth partners help get attendees through the door quickly and easily.Health and clearance applications, such as Crowdpass, can help you manage vaccination and health data and communication.Health and safety partnerOnsite COVID-19 testing is a great addition to pre-event testing to bolster your onsite safety protocol.Testing and temperature checksBranded masks and gloves are an easy way to promote your brand while helping to create a safer environment.Masks and glovesSanitizer stations are also a great way to improve onsite safety and promote your own brand or a sponsor.Sanitizer stationsYou can use stickers, posters, and decals to communicate your onsite safety protocols and guidelines.SignageTouchless technology can help minimize COVID-19 exposure for your attendees as well as your onsite staff.Touchless technology
29Event Marketing and PromotionA hybrid event management platform is a great way to manage registrations for both your virtual and in-person attendees seamlessly.Registration and ticketingAn agency can help you create an event brand that effectively connects the virtual and in-person elements of your event.Event brand/graphic designUnless your agency offers copywriting, you might need an outside source to help you craft compelling copy for your event brand and website.CopywritingBecause it helps promote registration for both virtual and in-person attendees, an event website is a crucial element of hybrid event marketing.Event websiteWhile it can be costly, affiliate and influencer marketing can help drive registrations and awareness to your event.Affiliate and influencer feesEmail, which may already be included in your hybrid event platform, is one of the best ways to communicate with attendees before, during, and after your event.Email marketingWhether you’re using Google Ads or social media, you can benefit from paid ads driving traffic to your hybrid event site.Paid advertisingEvent Technology How do you know what to look for in a hybrid event platform? We recommend software that consolidates in-person and virtual event tools into one seamless software that’s flexible enough to support all of your hybrid event needs.Hybrid event platformLead capture helps show ROI for your sponsors and your own leadership to prove event success.Lead capture toolsCertain hybrid event platforms already provide event intelligence tools that capture data about both your in-person and virtual event portions to offer comprehensive insights.Data and insights
30A mobile app helps you communicate in real-time with both in-person and virtual attendees, enhancing everyone’s experienceMobile event appHybrid engagement tools will help create memorable experiences for virtual and in-person audiences and provide opportunities for connection between the two.Engagement toolsVisualizing the onsite design will help inform your budget for rental furniture and provide a guide to the layout of your venue.Event diagramming toolBroadcasting tools empower you to deliver production-value video experiences, which allow virtual attendees to have just as great of an experience as in-person attendees.Broadcasting and streaming toolsIncluding a language translation and closed captioning vendor is an important inclusivity and accessibility consideration for your virtual attendees.Translation or closed captioning“We all thought digital was cheaper than in-person. But, in essence, technology is just as — if not more — costly than the traditional stuff. You have to think about where to put the emphasis because you could have a budget that’s exponentially bigger than you anticipated..”— Julia Cyboran, VP of Marketing & Audience, C2 International
31© BizzaboTravel and TransportationConsider hotel accomodation costs for any in-person participants, Hotelsguests who will be traveling onsite.Flights and transportationHybrid Event Budget TemplateHere’s a hybrid event budget sample you can use to keep track of your event costs:Download our hybrid event budget template.
3205 Annual Event Budget StrategyEach event is unique, so it can be difficult to plan the entire year’s budget when you haven’t planned individual events yet. Moreover, estimating a yearly budget shouldn’t be a shot in the dark or a decision based solely on how much budget you have leftover. Events are a critical channel for marketing and a valuable way to drive business goals from revenue and pipeline to brand awareness.Once you outline the cost for a single event, it’s easier to extrapolate your annual event planning budget. With a clear picture of what one event might cost, you can confidently put together an annual budget proposal for your leadership, rather than wait for them to give you an arbitrary number.Remember that an event budget will likely change as you go — and the same goes for your annual budget. Check in often to see how you’re tracking against your budget and determine which adjustments you might need to make for upcoming events. “Take your budget down to the studs. Meeting planners like to add 5% to 7% on top of last year’s budget and say that’s going to be this year’s budget. We’re no longer in that environment. … So my encouragement in your first budgeting process is to go back to the rules of event design. Start with goals and objectives first, and design from there.”— Katie Bohrer, CEO & Event Strategist, Onwardly
33About BizzaboBizzabo powers immersive in-person, virtual, and hybrid experiences. The Bizzabo Event Experience OS is a data-rich open platform that allows Event Experience Leaders to manage events, engage audiences, activate communities, and deliver powerful business outcomes — all while keeping attendee data private and secure. As a leader in The Forrester Wave™: B2B Marketing Events Management Solutions, Q1 2022 Report, we are trusted to power events by world-leading brands — from Fortune 100 enterprise organizations and financial institutions to creative agencies and scaling tech companies. Learn more at Bizzabo.com.Bizzabo, 31 W 27th St, 10th Floor, New York, NYCopyright © 2022 Bizzabo, All rights reserved.14© BizzaboAbout BizzaboBizzabo powers immersive in-person, virtual, and hybrid experiences. The Bizzabo Event Experience OS is a data-rich open platform that allows Event Experience Leaders to manage events, engage audiences, activate communities, and deliver powerful business outcomes — all while keeping attendee data private and secure. As a Leader in The Forrester Wave™: B2B Marketing Events Management Solutions, Q1 2021 Report, we are trusted by world-leading brands to power their events — from Fortune 100 enterprise organizations and financial institutions, to creative agencies and scaling tech companies. Learn more at bizzabo.com. Bizzabo, 31 W 27th St, 10th Floor, New York, NYCopyright © 2021 Bizzabo, All rights reserved.Request a Demo
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