When you decide to host an event, whether it’s a press conference, corporate announcement, investor relations meeting or a full-scale trade show, you’ll find a lot of costs associated with the event—some obvious and some you may not consider.
Travel cost (airline tickets, rental cars and hotel) is a no-brainer, but here are a few other costs associated with in-person meetings, even if business associates travel to your location rather than the other way around.
- Audiovisual Equipment: Unless you have a full-scale teleconferencing room set up, expect to pay for audiovisual equipment rentals—and the people to show you how to use it. If you do have a conference room, will it fit the number of people you’re inviting? If not, add the costs of renting a conference room in a hotel in addition to the audiovisual equipment and staff to run the equipment.
- Printed Materials: Planning to hand out press kits? Supplementary material? You want to make a strong impression, which might mean professionally-produced, four color brochures and other marketing material. All of this costs money. But if you host a webinar, no one expects to take home “dead-tree material.” You can show attendees anything you want through InterCall’s sophisticated but easy-to-use webinar software, and they can print what they want.
- Petty Cash Expenses: Whether it’s treating your visitors to dinner and drinks at the best steakhouse in town after the conference or paying for traveling employees’ three dollar bottled water at the airport, travel and meetings cost money.
- Lost Productivity: A WorldCom study discovered that employees suffer 15 to 20 hours of lost productivity during each business trip, which averages out to a cost of $700 to $1000 per person.
Save Money with Webinar Software
Even top-of-the-line webinar software with all the features you need to organize and host meetings costs less than business travel. How much less? Why not use the InterCall travel cost calculator to find out?
Dan Uhlmeyer is a Sr. Product Manager and the "Web Conferencing" blogger. He has nearly ten years of product experience in Web Conferencing and has managed several services at InterCall. When not punching on the keyboard, you can find Dan enjoying time with his wife and two children or running a marathon.