How To Stretch Your Event Marketing Budget Without Getting Fired

Creating impactful live brand experience campaigns can be challenging, especially for small to medium-sized teams with tight budgets. It might seem necessary to have endless resources to stand out, but a bit of creativity and strategic planning can go a long way. While cutting corners or sacrificing safety for savings is never recommended, there are a few tricks that can help stretch the brand activation budget to optimize impact without skimping on quality.

Essential Budget Categories
It’s important to understand the types of costs involved in an experiential marketing activation. These can be categorized into the “4 S’s” - Stuff, Site, Staff, and Services. “Stuff” includes materials such as exhibit pieces, vehicles, photo booths, uniforms, and even zip ties. “Site” covers costs related to the event location, including sponsorships, site fees, and permits. “Staff” is the compensation and expenses for the on-site event team. Employee overhead may be another cost consideration if the planning work is done in-house. “Services” cover agency or vendor fees, fuel, shipping, and software rental to name a few.

Prioritize Participation and Location
Keep the core experiential concept in mind when budgeting to ensure that participant engagement reflects the brand and campaign goals. For example, if the main objective is to change consumer perception with a hands-on product demonstration, prioritize those elements first and build the surrounding brand environment around them. Likewise, consider the location’s relevance to the campaign goals. A pricey sponsorship within a popular event may be necessary for engaging thousands of people, but if the goal is press or influencer coverage, a more intimate, less costly setting might be more effective.

Use Cost-Effective Technology
Event tech comes in all shapes, sizes, and uses, and sometimes exploring inexpensive alternatives can save a ton of money. For example, many lead capture systems are essentially apps on tablets that can upload data to CRMs, perform an audience analysis, provide visual charts and graphs, and along with other helpful tools. However, a simple web form or SurveyMonkey can also collect names and details without the bells and whistles. Be sure to consider possible privacy in how the data is collected stored and used.

Giveaway the Giveaways
Everyone loves free stuff, but even inexpensive branded premiums can add up quickly when purchasing in bulk. A $5 t-shirt sounds cheap, but distributing 5,000 of them at a festival amounts to $25k. Instead of branded tchotchkes, there are lots of other options that can show participant appreciation. Unique and clever alternatives can save a lot of money. A well-designed bumper sticker, digital download, or exclusive contest entry can deliver more leads and buzz than a light-up keychain. Pro tip: A fun photo op can generate leads and social shares, and the photo itself becomes the prize.

Multi-Use Assets And Activations
Invest in equipment and setups that can be reused or easily adapted for future efforts. Evergreen signage and exhibit pieces can be repurposed into new campaigns or find permanent homes at retail or in the HQ lobby. When planning live brand experiences, consider how the activation elements could be used beyond the initial event, because it’s more cost-effective to keep the activation going than to plan another one from the start. Sometimes a public-facing activation during the day transformed into an exclusive press or influencer event in the evening (or the day before) can add tremendous value without breaking the bank.

Analog Activities
Technology is cool, but it often comes with a price tag. While massive touch screens, augmented reality demos, or lifelike holograms are impressive, there are a lot of fun ways to put a new spin on old-school, tactile experiences. Analog activities can create authenticity and tangibility, promote creativity, and bring a sense of nostalgia to a digitally overwhelmed audience. They can also be a visually stunning centerpiece to the brand activation that sparks conversation and creates fun memories for participants.

Producing a visually striking and engaging event marketing activation doesn’t have to break the bank. With a little strategy and creativity, experiences can be adjusted to focus on core elements and provide a unique experience to event-goers while scaling down lower-priority items. If you’d like to get more out of your event budget, RoninXM is here to help. Contact us today for expert strategies and tips tailored to your specific brand objectives.