Tag Archives: Budget

Defining the Value of Face to Face Events

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As we emerge from government fiscal year-end and start planning for calendar year 2015, it is a good time to look at how to budget for (or use budget already allocated to) face-to-face events. Whether you are planning events or looking to attend, the ROI of these events is critical.

Amidst reports of travel budgets being cut and general tightening of overhead budgets, there is a lot of optimism for real-time events. Earlier this year, EXHIBITOR Magazine surveyed professionals in the event industry (across all sectors, not just government). Overall, the survey found that 77% said trade show budgets had increased or stayed the same over the past year. Continue reading →

Event Spending By the Numbers

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At GovEvents, we've been tracking the government's spending on events and travel and wanted to share some key stats with you.

17% -- The amount travel spending is down in 2014 (so far). Travel spending in fiscal 2014 through March is about $2.8 billion, compared to almost $3.4 billion through March of fiscal 2013.

30% -- The amount agencies are mandated to reduce their travel spending (as compared to 2010 numbers). That level is to be maintained through 2016.

$20,000 - Price of an event at which the agency has to loop in their inspector general to explain and justify cost.

$90,000 - Total amount GSA offered up to anyone who can develop a digital interactive tool to harness travel data to help agencies understand and reduce costs.

These numbers show that the reduction in travel and event spending is not just media buzz, it's happening and its here to stay (at least through 2016).  With this in mind, what do event managers (both in the private sector and government) need to do to continue our missions in this "new normal"?

As we've highlighted previously, there are a number of ways to maintain the collaboration of in-person events while keeping spending in check.

  1. Webinars - last year we saw a 30% rise in webinars posted on our site and there continues to be steady posting of webinars. People are embracing the medium for training and learning in light of travel restrictions.
  2. Smaller Events - lunches and more intimate events in more locations may allow for even greater networking than large events while saving time and money for both planners and attendees.
  3. Social Media - look at how can you use your social media properties to foster ongoing online collaboration between attendees.

How about you? How has the travel spending impacted the way you plan and attend events?

 

Image from: http://mykindofcountry.wordpress.com/

Lemonade from Lemons: Learning from Managing Reduced Budgets

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IBM conducted a study interviewing California state officials to see what that group had learned managing their state's complicated budget shortfall. The resulting report examined what happened to local California government revenues during this period, which services have been adjusted, how employee benefits have been treated, and what innovations have been introduced.

The authors were able to pull out three key recommendations based on the subjects' real-world experiences.

  • Identify and address structural deficits in a finely grained manner, leaving no major budget category unexamined.
  • Foster citizen engagement to encourage widespread dissemination of fiscal information in order to enhance the legitimacy of public policy choices.
  • Improve the state/local relationship to reduce episodic, convulsive impacts on local public finance.

Continue reading →