30 tips to keep meeting expenses to a minimum

Money makes the world turn. And when it comes to meeting planning, money can probably get you what you want. However, few event planners can afford an unlimited budget. Your boss might like to drink champagne on a beer budget. In other words, advise him to spend less, but expect miracles at the same time.

Preparing and managing a realistic budget is serious business, but to earn “big boss” points you must also be a savvy negotiator and a fan of cost cutting. To help you on your way, here are 30 tips in a variety of different areas to keep your meeting expenses to a minimum without losing the quality you strive for.

1. Keep your budget flexible. Be prepared to build a 10 percent contingency into your total budget to take care of any unexpected expenses and emergencies. Unforeseen or overlooked costs like overtime, overnight postage, phone and computer hookups or speaker replacements could blow up your budget.

2. Check all invoices. Question anything on your invoices that is not calculated against the written quote. Review your hotel/facility and food and beverage bills while you’re on site. Resolving discrepancies in person is much easier than over the phone.

3. Authorization limits. Only a select few should have the authority to charge items to your master hotel account. Make sure the hotel has a list of these people and refuse to pay the charges signed by unauthorized personnel.

4. Review accounts daily. To avoid major surprises or heart failure when you see the final bill, review your accounts with the center daily. It’s easier to catch mistakes or make necessary changes if costs increase in certain areas.

5. Schedule during off-peak hours. If you have the flexibility, consider scheduling your meetings during the off-season or on weekdays when the facility is less busy. Booking near holidays like Easter, Memorial Day, and Labor Day could definitely work to your advantage.

6. Ask for the best rates. Do your research. Check out standard rates, corporate rates, AAA discounts, etc., and compare them to the group rates they offer you. Call the free reservations desk for information.

7. Confirm and reconfirm your dates and event details. Missing a detail can cost you a lot of money.

8. Request a discount for payments on site. When the facility does not have to wait for payment because you agree to pay immediately after the event or when the meeting ends, it may be open to a prompt payment discount.

9. Be conservative with room blocks. With more and more guests using discount hotel sites to book rooms, wear and tear on unused rooms can prove very costly.

10. Negotiate compensation rooms. As part of your discussions with hotel management, negotiate free or discounted speaker rooms, staff, or VIP upgrades.

11. Understand your cancellation clause. Do not sign anything you are not completely satisfied with. Make sure your cancellation clause is reciprocal, so that both parties have the option to terminate the contract before a specific date, should there be any changes to the original agreement.

12. Negotiate fixed prices. To help with your budget, arrange to pay a specific amount for food and beverages throughout the event, rather than a per-person, per-function fee.

13. Consult a tax attorney. Research the tax laws for the location of your business and the location of the event. You may be eligible for tax breaks that you are not claiming.

14. Keep the room setup simple. Whenever possible, use the theater style (where only chairs are used), as it is less labor intensive than the classroom style (which includes table and chairs), thus reducing installation costs. Also, plan to keep the settings the same from day to day.

15. Check in other groups. Find out about groups holding their meeting before and after yours, and discuss staging needs. You may find that you can save on setup and teardown if everyone has the same or very similar requirements.

16. Research sponsorship opportunities. Find sponsors to cover as much of your show’s expenses as possible, especially speaker fees, audiovisual equipment, and special meals.

17. Research grants. While it can be a time-consuming exercise, you can search for specific federal, state, local, or corporate grants that may be available to host your meeting.

18. Use industry experts. To save on speaker expenses, consider using industry experts whose companies often foot the bill. Alternatively, use local speakers when appropriate to save on travel expenses. However, check how good they are before hiring them. You may end up failing!

19. Avoid renting unnecessary equipment. Double check speaker needs for AV equipment to avoid renting unnecessary items.

20. Keep signage simple and reusable. Consider investing in a laminating machine to make your own signs.

21. Discuss cheap audiovisual montages. Limit the number of microphones needed. Check if the hotel provides a courtesy microphone in each meeting room. Skirt a cocktail table instead of renting special carts for A/V equipment.

22. Use external providers. Look outside the hotel for possible audiovisual providers whose prices may be more competitive than the internal ones. However, the hotel can match the other provider’s prices if requested.

23. Save on transportation. Use airport shuttle services instead of taxis. If you have a sizeable group attending your event, negotiate special discounts with the shuttle bus company. Alternatively, check to see if the local taxi company can provide discount coupons.

24. Arrange for a room. For smaller committee meetings that may be held during a larger conference, host a buffet lunch in the same room as the meeting to avoid having to rent a separate room.

25. Negotiate food. Negotiate the payment of food based on consumption. You can then return the food without paying for it.

26. Minimize portions. Slice mini danishes, bagels and doughnuts, or cut larger portions in half. Many people (especially women and dieters) only want half to start. Alternatively, serve a continental breakfast instead of a full buffet breakfast.

27. Opt for fewer options. When it comes to hors d’oeuvres, choose fewer options in larger quantities rather than a large selection in smaller quantities. And remember to avoid shrimp. People inhale it. There is never enough!!!

28. Check for dead stock. Check to see if the hotel has out-of-stock wine available (such as wine that is no longer on the wine list). You may be able to negotiate a great price for a very good quality wine.

29. Keep open bottles. Find out if the hotel can store open bottles of liquor from one reception and us from another reception during the same conference.

30. Open bottles as needed. As captain of the banquet to open bottles of wine only when necessary. You pay for each bottle that has been uncorked.

Bonus Tip: Avoid salty foods during receptions as it encourages people to drink more.