Technology Mixology: know your budget

A limited budget doesn’t equal a limited technology engagement. It’s about knowing where you can implement creative solutions to stretch your dollars.

Technology Mixology: know your budget

September 20, 2016 | Insights

This is the second post in an eight-part Technology Mixology series documenting how to create a technology engagement that dazzles, delights and connects your audience to your brand.

No one has unlimited resources. Well, almost no one. And that’s where your budget comes in.

But budgets can be deceptive. A limited budget doesn’t always equal a limited technology engagement. It’s about knowing where you can be resourceful and implement creative solutions to stretch your dollars.

If you’re going to get creative, it’s crucial to know your budget inside and out. Get a grasp on how much money you have and how that money is being allocated. Determine where you can maneuver some wiggle room and where you can’t. After all, nothing derails carefully made plans faster than running out of cash.

To get to know your budget better, answer the following questions:

  • • Do you have a specific amount of money you can spend, or are things flexible depending on the project and its viability?
  • • Can you amortize the spend over a specific number of years or shows?

  • • Which is best for you: rental or purchase?

  • • Does your engagement need to be scalable?

Other budget items to consider are what technology hardware, programming and content you need to buy, rent or create. You are, after all, creating a technology engagement.

Each component contributes to your overall spend. Once you know what you have to work with, you can build a better spending plan—and a better engagement.

The next post in the Technology Mixology series highlights how determining your strengths and weaknesses helps you build a better technology engagement team.

Don’t want to wait for it? Download the complete Technology Mixology guide now.

Other posts in the Technology Mixology series:
The art and science behind creating the perfect technology engagement
How to build a balanced event marketing technology team
Choosing the right event technology for your audience
Conquer program challenges with event technology solutions
How to assemble a trade show planning checklist
Prepping your trade show booth staff for success
The value of post trade show evaluation