The question about budget versus outcome isn’t unique to the Production Rental industry. Where you get your hair styled, your oil changed … even where to buy a new car … all come down to price versus value. So, does budget always dictate outcome in the Production Rental business?
Yes and no.
There are lots of great companies that would love to do business with you! Depending on the type of event, you might be best-suited to work with a small shop in your hometown instead of a national goliath with offices in every metro market. Conversely, the little guys might not be equipped to handle events like yours so scale needs to be considered too. Here are four things to help you plan an event on a budget:
+ Reputation matters. You can tell a lot by a company before ever calling them. Does their brand match your expectations? Do their clients rave about them? Of course, if you don’t develop an immediate connection through their webpage, social sites, and public interactions you can usually tell with a quick phone call too. Choose a company that, like you, will value the outcome of your event … not just the check to settle it.
+ Dynamic pricing. Prices can (and should) fluctuate based on many factors. Existing relationships, time of year, other events taking place in the region, and your flexibility for alternative suggestions all impact dynamic pricing. Clearly defining your budget upfront will usually yield the right solution at the right price without negotiating.
– Aging. Outdated photos, testimonials and other public-facing marketing elements can be the first sign of an aging inventory and a declining company. Older equipment isn’t inherently bad but, “it was state-of-the-art in 2003” also means replacement parts were discontinued several years ago.
– Beware of Change Orders. Everything should be listed upfront or included at no cost (excluding change of scope, of course). A lot of companies actually include Odd & Ends as part of their budgeting expectations instead of getting it right beforehand.
If price is the only deciding factor; then yes, price does dictate outcome.
When you work with reputable companies that suggest modern options to reduce cost without affecting quality and never exceed an agreed upon price; then no, price does not dictate outcome.
At Encompass, we have unique backgrounds that situate us perfectly to produce high end and complex offerings. We’ve worked in broadcast television, touring entertainment, live sporting events, and countless convention facilities across the country.
We have technical design experience and a disciplined process in place that allows us to easily scale events and shift from in-person to virtual without angst. There isn’t much that’s beyond our scope and we love the intensity of putting on events!
If you’re a planner working to create an event, seeking help with virtual event technology, or simply want to learn more … we can help! Sign up below to receive our updates (we promise to keep your contact information secure and won’t “overshare”).