In today's economy, less is more. Social media aesthetics like 'de-influencing' and 'quiet luxury' are reshaping consumer expectations, which is driving planners to seek more bang for their buck when it comes to furniture rental for corporate events.
The trend toward economization has made its way into the event industry as well. No doubt you've had clients task you with creating immersive, high-impact experiences on leaner budgets.
'For the second consecutive year, budgets are flat or down for two-thirds of event teams,' reports Forrester. 'Even among the 19% of organizations that have seen budgets increase, the reality is that, due to inflation, they're almost certainly flat or down in real terms.'
Financial and cultural pressures demand resourcefulness, yet the demand for design and storytelling that turn heads hasn't abated. In this article, we'll help you determine how to strike a balance between high impact and minimalist means when designing events on a tight budget.
The demand for in-person gatherings has continued to grow. At the same time, clients remain tight with their budgets, which creates a conundrum of event planning on a budget for planners like you.
'23.2% of respondents cite reduced budgets or declining client investment as significant hurdles,' RSVPify points out. 'Planners are being forced to do more with less, which requires a heightened focus on maximizing ROI [return on investment] and finding cost-effective strategies.'
Here are some ways in which this phenomenon rears its head — you might have even experienced one or two of these yourself:
Venue costs outpacing budgets: A client spends so much money on a premium venue to impress stakeholders that the decor and experience budget is minimal. This leaves the planner scrambling to make a vast space feel full and inviting with limited resources.
'Champagne taste, beer budget': The client brings in an ambitious inspiration board filled with luxury design trends they've seen on social media — velvet lounges, dramatic floral installations, custom lighting — with a budget that only covers the basics.
Multiday events on single-day budgets: Planners often find themselves tasked with delivering a conference that spans multiple days of networking, breakouts, and activations, but with a budget that only accounts for a single day of production value.
Last-minute add-ons: Additional requests for elements are often made late in the process, such as requests like adding a networking zone or a photo moment — but they don't come with a corresponding increase in the budget or extended timelines.
Situations like these reveal the gaps between clients who expect events with an elevated look and feel but lack the financial resources to make the events happen as easily as they could. It's an enduring reality that the underconsumption movement and tighter budgets of today bring.
Just because an event's budget is small doesn't mean that its effect has to be minimal. You can get the best bang for your event experience buck with intentional design that prioritizes quality over quantity and emotional resonance over excess.
The key is to think like a curator. Remove the clutter, highlight fewer but more impactful design elements, and utilize furniture, lighting, and layout to create focus and flow.
Here are some ways to maximize your event budget. Select modular seating that's easy to reconfigure, allowing it to support multiple functions throughout the event day. Use statement pieces sparingly for maximum impact that anchors the space. Pair neutral color palettes with texture and lighting to achieve a quiet, luxurious vibe. Rely on multipurpose vignettes that transition from networking to presentation zones seamlessly.
Design choices like these can inspire more thoughtful, sustainable, and creative planning, without incurring budgetary strain or stress during execution.
Finding the right partner can help you achieve this 'less but better' approach, and CORT Events is your ideal partner for success, regardless of your budget. You can't dictate your clients' tastes or their shrinking budgets, but you do have control over your design strategy with what you do have to work with.
For example, when your budget is tight, you can reconfigure CORT's modular lounge collections throughout the event to make one investment serve multiple functions. Statement pieces and on-trend accents from CORT's catalog help you make an impact without a high-end price tag — giving you a secret weapon when a client's vision is bigger than the budget.
You can tackle multiday events on single-day budgets with furnishings that allow you to transition seamlessly through a myriad of functions. For example, you can restyle ottomans and cafe tables in different spaces to give them a fresh feel without a massive investment. CORT can even help you with last-minute changes, thanks to its nationwide inventory, fast quoting, and reliable delivery, which allow you to be light on your feet without sacrificing quality or stretching your budget too thin.
The right furnishings, layouts, and planning support can help you deliver an elevated, stylish event experience regardless of your budget. That's where CORT enables you to shine.
Luxury on a budget in the events world is about intentionality, experience, and resonance. Innovative design allows you to cater to cost-conscious clients while curating experiences that are modern, relevant, and meaningful.
CORT Events is the ideal partner to help you design with less and achieve more. Our flexible solutions, expert guidance, and stylish inventory for event furniture rental give you everything you need to deliver big dreams on lean budgets. Partner with us today.