In a perfect world, there’d be no financial constraints and you could plan the event of your client’s (and your) dreams. Sadly, budgets are a reality with which we all must contend. But they don’t have to be constricting. Event Lab’s Senior Event Specialist, Lauren Segelbaum, knows a thing or two about planning a fabulous event and giving a client their “WOW” factor, all while staying within budget.
Q. Briefly tell me about Event Lab
A. For twenty years Event Lab has been designing, installing and managing an array of functions, with an even mix of corporate, social and charity galas throughout the year. We focus on making sure people feel good about their event regardless of their budget. We want to make sure they see the value that we provide.
Q. Do you have any money-saving tips or tricks to manage a client’s budget effectively while giving them the most bang for their buck?
A. At the start of planning, if a client is unsure about their budget or they can’t give a specific number, we ask for a range. It’s important that they know that our initial proposal may extend beyond their budget and that we can scale back from there. We begin the process by asking them, “Where do you want to create your WOWS?” That gives us focus. Then we give them a full proposal with everything we’ve talked about. We review the proposal with them, and then consider what we can do within budget while still creating an impact. For example, is it important to make a big impression at the entrance of the event? Or, do you want to focus on stage decor? Or, with lighting?
Q. How do you handle any unanticipated expenses?
A. If I overlook something and incur an additional expense, then it’s my responsibility to cover it. However, if a client is making last-minute decisions that impact the cost, we discuss the fact this will increase their spend. If the circumstances that create the increase are beyond anyone’s control, I’ll ask if they’re willing to meet me half way on the additional expenses.
Q. If a client is over-budget in the planning phase, where do you often suggest scaling back to cut costs?
A. Because we are a design and décor company, I’ll make suggestions on what where we can create the greatest impact. For example, lighting is an area where you can create big impact on a limited budget. Often, the things that usually go are the accessories. In other words, things like the take-away for guests when they leave the event or custom menu cards. Chair covers often get cut as do specialty charger plates. Sometimes, a client can save money on entertainment by hiring a duo rather than a trio at the pre-function. There are all kinds of ways to cut back and still have an effective event. I believe it’s important to have an open dialogue with my client without making assumptions. What I mean by that is that I have to guide them so if, for example, they decide they can’t afford floral, I’ll suggest rather than cutting it entirely, they go with a less expensive flower. It’s important for them to know all their options.
Q. Anything else you’d like to add?
A. Sometimes people mistakenly think that using a company like ours will increase their costs. On the contrary, because we are a full-service company, there is money to be saved if a client uses elements we have in-house. Unlike the time, expense and hassle of them hiring and coordinating multiple outside vendors, we generally have what they need right here. And if we don’t have to make it, rent it or buy it from someone else, they save.
In 2006, Lauren Segelbaum joined Event Lab after working as event planner, project manager and sales associate in the Twin Cities. In her current position of Senior Event Specialist, Lauren takes part in event design, sales, project management and research. She is often the go-to person for where to eat in the Twin Cities and what to do. She is a graduate of the University of Wisconsin-Madison. An active member of ISES, Lauren is a past ISES Star Award recipient.
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