With the meetings industry getting more sophisticated, the costs of event production are quickly increasing. From advanced check-in technology to high-tech VR/AR entertainment, there are numerous areas that require extensive investment. This means smart budgeting is crucial for you to master if you expect your upcoming event to rack up a lot of expenses. So how do you make it smart? While many event planners focus on cost cutting only, the key to success is using as many diverse revenue streams as possible, with sponsorships being one of them.