From fostering relationships with clients to staying ahead of the competition, the benefits of face-to-face meetings are undeniable. But with organizations enforcing tighter budgets and stricter oversight, can you really plan successful events nowadays? The answer is yes -- if you follow the right advice. In fact, industry experts agree that there's never been a better time to host meetings. With the following tips, you can take advantage of today's market and get the most out of all your events.
Do your research. Even seasoned meeting planners fall into a routine of calling on the same suppliers time and time again. Your events need evolve along with your budget, so don't limit yourself to the same venue -- and the same rates. Make the most of online sourcing tools that provide a wide range of suppliers, from convention hotels to museums to restaurants. With more options on your RFPs, you'll have a better chance of finding a venue that can best suit your needs and your price point.
Show your value. You may think that suppliers are so desperate for business that they'll take any price you name. Not so. In fact, low demand requires them to be more discriminating in who they offer reduced rates to, since each deal needs to be a profitable one. To get the deal, make sure to track your meetings history, from rooms booked to attendee numbers. If you can show that your meeting has value for a venue, they'll be more willing to give you the rates you want.
Ask for extras. For some venues, drastically lowering rates is not always an option. Value-added packages are. Complimentary parking, breakfast, Internet service and more are all up for grabs, but only if you ask. Customize your RFPs to reflect your meeting requirements and desired amenities. When suppliers see what you're trying to accomplish with your event, it's easier for them to respond with the extras that best suit your needs.
Compare multiple bids. Nothing drives prices down like competition. When suppliers know they aren't the only ones in the running for your meeting, they're more likely to come up with an aggressive offer. It makes sense to send your RFPs to multiple suppliers. Suppliers will work for your business, and all you'll have to do is compare rates.
Don't cancel. This may be one of the most important tips to keep in mind when thinking about your meetings long term. Suppliers need your business right now, and they won't forget who stuck with them during hard times. Down the road, they'll reward those who booked their guest rooms, used their catering services, and met in their function spaces. Establishing a business relationship with suppliers at this point doesn't just mean getting a deal now, but in the future as well.
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