Top Tips to Save money at Your Next Event

  • Published on
    15-Jan-2015

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DESCRIPTION

In this useful webinar, etouches Vice President of Event Services Nancy Largay, will share advice on how to save money on your next event. She will cover topics including negotiating the best hotel deals, protecting yourself from Financial Exposure on Attrition, Food and Beverage-tips and tricks, smart vendor negotiation, and Creative Crisis Management (what to do if something does go wrong!). Dont miss out! Join in the live webinar to engage in this discussion and ask Nancy any questions you may have in regards to a specific event.

Transcript

1. Saving Money at your Next EventNancy LargayVice President-Global Services 2. My Experience Seasoned event manager with over 20 yearsof event management experience Trade shows Sponsorship Buyers Summit Conferences05/07/13 3. Key items regarding hotel negotiations F&B vs. housing block Striking a balance in the contract Financial risk relative to your projected revenues Attrition vs. commissions Maximizing revenues while minimizing risks Cancellation terms Launching an event Established events Discounts and Deals at Hotels Peak season vs off seasonNegotiating the best Hotel Deals 4. The Fine Art of Avoiding Attrition Establish a timeline relative to financial milestones Coordinate cancellation terms with milestones If you run into any issues, get creative! Room upgrades for VIPs F&B spend shift Host future events at same venue so the propertysees a commitment to future revenues Work with hotel/dont surprise them at the lastmoment!05/07/13 5. Food and Beverage Costs Buffet vs plated meals How is the hotel tracking meal consumption? Liquor-consumption or by the glass? Providing the right guarantees if servingbuffet meals05/07/13 6. Vendor Negotiations Hotel/venue providers Many can be good but always go out to bid to atleast 2other suppliers to cost compare Even if you lose hotel discounts, many externalvendors can easily beat hotel vendor pricing If you have a long standing relationship with a provideryou love: Go out to bid! Even if you love them, others will come in withcompetitive pricing which allows you to renegotiate theterms.05/07/13 7. Creative Crisis Management Always have a plan for the unexpected andbudget accordingly Set aside a contingency fund Hold suppliers accountable financially for anyerrors Negotiate when surprises occur! Dont take solutions at face value05/07/13 8. For more information, feel free to contact meat: nlargay@etouches.com @leaderofthepack05/07/13