Writing great proposals is not rocket science. But too often we try to short cut the process. If you follow these four simple steps you will be successful with your proposals. 1) Understand the prospect’s needs. This means extensive discovery sessions. Before you can build a proposal, you need to know the prospect’s specific goals. Are they sales? Is it about building brand awareness? Is it a PR or GR move? Perhaps it is about employee engagement. Perhaps it…
by Shannon Byck and Joe Nishi Over the last two years, the business events industry has been incredibly impacted by meeting cancellations and “lifting and shifting” of groups. From a contract perspective, we have had to quickly incorporate addendums and revisions to contracts that allowed for updated Force Majeure, flexible deposit, attrition and cancellation schedules and a huge amount of goodwill and relationship capital has been spent working through all of this. What should not be overlooked is the…
Over the last 18 months, how we deliver events has shifted dramatically. Event organizers have had to throw out their budgeting plans and sort out new ways of understanding the costs and benefits of their event spend. We’ve seen a lot of change and have helped our clients navigate this shift over the last two years. As we look to the future, change is not going to subside. Understanding how to budget new formats and content delivery will go a…
Creating an event budget can be challenging. After all, there is a lot to consider. In addition to necessary costs like the venue and event staff, you want to allow for unexpected expenses, hidden fees that will undoubtedly crop up and an emergency fund. Here are eight tips to help you prepare for the unknowns and set your event up for success. 1. Identify Goals and Primary KPIs Budgeting for your event usually occurs after the main objectives have been…
Hotel will provide the following concessions if at least 90 per cent of the minimum guestroom revenue is received and at least 100 per cent of the minimum food and beverage revenue is received… Concessions are benefits or value-added services that venues offer in exchange for the event host’s business and fulfilment of their contractual requirements. For event hosts, it feels great to negotiate potentially lucrative concessions as part of an event contract. Complimentary staff rooms, free wi-fi, discount parking…
It’s that time of year again: More financial considerations for not-for-profit meeting planners. I’m not sure what it is about this time of year, but at the end of the summer season my financial concerns are always top of mind. It might be due to the timing of client budget planning for 2019, or that I’ve overextended my own budget from summer weekends trying to make the most of this nice weather (as I tell myself), but in past years…
By Heather Reid A side-by-side examination of 12 signed and negotiated contracts for booking events into unconventional venues unveiled disturbing discrepancies to me. The “unconventional venue” contracts included the following Canadian locations: cultural centre, city-owned sport facility, entertainment complex, music hall, high-risk recreational facility, heritage facility, aquarium, brewery, two recreational/amusement facilities and museums in three different cities. A wide variety of unconventional venues for sure! Here are a few of the disturbing findings of my side-by-side review: Indemnification Clause: 6…
At one point in every event planner’s career, there has been the situation of receiving a final invoice from a venue with added costs that were never included in the budget. This refers to power costs, internet costs, extra catering labour costs, and so on. This is especially problematic when a third party such as a DMC has given an inclusive price to the client and must absorb the extra costs or an in-house planner must go back to their…
There are times when corporate planners are tasked with planning events in an internal meeting space. Usually, this means planning meetings in office buildings while managing client expectations – and what they expect is the same standard as if the meeting was held in a purpose-built venue. Perceived convenience and cost savings become the deciding factors for internal meetings, however there can be hidden costs and inconveniences that should be considered. Moving meetings into the office are rarely as simple…
By Phil Rappoport Could the fun and age-old “selection game” of Rock-Paper-Scissors become “App-Paper-Scissors?” Which one would top the other in a one-on-one duel by meeting professionals and their delegates? Can the app and a pair of scissors turn paper into shreds, or will paper still have a place? Judging by the surge of mobile app usage in the meetings and events industry over the past five years, one would think that apps are clearly in the driver’s seat and…
