Setting a Budget and Sticking To It
If your company has made the decision to start planning a roadshow to market their products or services, you may be surprised at just how much goes into the process. One of the most important things to consider is the budget. Before you can even pick the cities you want to visit or reserve the transportation to get you from airport to hotel in those cities, you have to set a budget that you intend to stick to no matter what.
Once you’ve seen the benefit of putting on a roadshow, you just need to sit down with your company’s finance department and hash out a budget that will work for everyone.
Size Matters
The size and scope of your roadshow will make the largest impact on the budget you set. This doesn’t just mean the size of your intended audience, but the size of your group, number of cities you hope to visit, and the venues you hope to secure. Each of these things can influence your budget alone, but together, they can make or break your budget if you don’t plan properly.
Travel Arrangements
Unfortunately, travel arrangements are often the most forgotten part of planning any type of event. Even though the whole point of a roadshow is to “take it on the road”, some people just don’t leave any room in the budget for transportation costs. These costs include the car services you’ll use while you’re in each city, any airfare costs, as well as the cost of gas and any wiggle room in the event of an emergency (flat tire, dead battery, etc.).
Lodging Accommodations
The amount you need to leave in the budget here all boils down to your employees’ preferences. It’s not always necessary to spring for the highest quality accommodations, but you also don’t want them staying in a flop house either. In some cases, the venue you choose may be the conference room or convention center attached to a hotel. When booking the venue for your roadshow, you may be able to arrange for discounted pricing on rooms for everyone in your group. If you’re able to come to an agreement with the hotel/venue, this will provide your budget with the extra padding it needs for other areas of planning.
Venue
The venue is going to be where you interact with your target audience. The right venue can make a huge impression on the people you’re trying to convince to buy your product, support your cause, or vote for your candidate. You should definitely leave a large amount of your budget for the venue. Some venues will be able to provide you with the chairs, lodgings, and even the catering for your roadshow visit.
Small Details
The budget should also have plenty of room for any small details you may not consider when planning your roadshow. These can include insurance costs, room service, taxes, and additional décor for your roadshow presentation. Knowing how many people you plan on taking with you as well as having details about the rest of your budget and the cities you plan on stopping in will help you set a number for these extra costs so you don’t break your budget once you get out on the road.
Planning and executing a successful roadshow doesn’t have to be a huge headache. As with any business venture, proper planning can go a long way. Don’t be afraid to consult the finance department of your company when you’re ready to get started as they can give you an idea of what kind of budget you’ll be able to work with when the planning phase gets underway. Just remember that the budget, no matter how big or small, can make or break your roadshow, so make sure every penny counts!
Image Credit: freedigitalphotos.net/Stuart Miles
