Investing in an event management system can feel like a daunting decision. It often means adjusting your usual processes, learning to use a new software, and, most critically, making a financial commitment. This naturally raises a question for many event professionals: is it worth the hassle and expense?
As with most investments, the answer lies in the benefits. What does an event management system bring to the table, and how does it impact costs, attendee experience, and event success? Let’s dive deeper into the numbers and see how it adds up.
Events are a costly medium – but invaluable when done right
Corporate events are often one of the more expensive but also highly effective ways to communicate and build a brand. A high-quality corporate event costs approximately €100–200 per attendee. This price tag covers venue rentals, catering, entertainment, marketing, and more. For comparison, digital advertising costs mere cents per impression but often lacks the personal connection and impact that live events deliver.
Because events require such a significant investment, it’s critical to maximise their value. One of the most effective ways to do this is by leveraging an event management system to ensure your target audience shows up, streamline the process, and drive your event's success.
How does an event management system save money?
1. Lower cost per attendee
Based on our data, the average cost of using our event management system is approximately €3 per registered attendee. When you include individuals who RSVP but cannot attend, or those who don’t respond at all, the cost drops to just €0.30 per contact.
This modest cost covers everything from delivering invitations, managing registrations, sharing real-time updates with vendors and partners, to post-event follow-ups. Compared to expenses like catering or venue fees, it’s a small price to pay for the value it delivers.
2. Reducing no-show rates
No-shows – where expected attendees don’t arrive – can lead to significant unnecessary expenses. For a 100-person event, a 10% no-show rate means 10 uneaten meals, potentially adding up to €500 in wasted costs.
By using automated communications, such as reminders and SMS notifications, and a streamlined registration process, we’ve seen no-show rates reduced by as much as 50%. That translates into hundreds of euros saved per event, which can quickly compound for recurring events.
3. Smoother collaboration with vendors
Planning events involves numerous moving parts: catering, transportation, venue management, and more. An event management system enables real-time information sharing, reducing errors and saving time. When all partners have access to the right information, unnecessary back-and-forth and miscommunication are minimised.
Measuring costs in croissants
A €3 cost per attendee is, in simple terms, the equivalent of a single bite of a croissant at any international airport. Yet it can make the difference in ensuring attendees arrive and an event succeeds.
Consider the proportion of your event budget wasted when attendees don’t show up. Every untouched welcome drink and uneaten appetizer represents resources that could have been used more effectively. Investing in an event management system minimises these risks.
The logic of event investments: A good tool pays for itself
If you’ve already decided to invest in an event, it only makes sense to invest in a system that ensures its success. Without efficient management, a portion of your investment is likely to go to waste – akin to pouring wine straight into the snow.
An event management system isn’t just a cost; it’s an investment. It improves event efficiency, saves resources, and helps you achieve your event’s goals.
If you want your next event to be both cost-effective and successful, we’re here to help. And yes, we can bring croissants along for the meeting.
Interested?
Discover how our system can work for you. Book a free demo at www.lyyti.com/demo.
Don’t pour wine down the drain – let’s make your events a success together!
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