Event Budgeting

  • Getting noticed: Four tips planners can use for making their event RFP stand out

    Growing up, one of my mom’s adages was “there’s a time and a place for getting noticed!” This may or may not be true – but what I do know for sure is that I want the Request for Proposal (RFP) for my events to stand out to prospective venues every time. Preparing to release an RFP for an upcoming event can be an exciting time, but it can also be wrought with anxiety about how much/what information to include,…

  • Five areas to watch for reducing risk in business event planning

    By Yma Sherry The meetings and events environment has undergone a lot of change in the past few years. More and more companies are rolling out managed meetings programs to enhance transparency, gain efficiencies and save money. But, as with any bustling business division, there are inherent risks lurking in meetings and events departments. These are risks that companies cannot afford to overlook. American Express Meetings & Events took a look at meeting planners’ current awareness and behaviours around these…

  • Can event venues cancel your contract concessions?

    It feels great to negotiate concessions as part of an event contract. Concessions, by definition, are a contractual agreement where one party provides something of value to the other party in exchange for something else. In the case of the events and meetings industry, one typically sees concessions offered in a venue contract, in recognition of the event host choosing the venue to host its event. Venue contract concessions can be wide-ranging and are prioritized differently for each event. Examples…

  • Is doing more with less in events possible?

    When one does a Google search of the text “doing more with less” it comes up with 55,400,000 results, and when one further refines it to “doing more with less in events” it shows 28,200,000 results! Staggering! With my Google findings in mind, combined with my own experiences with limited event budgets, I’m writing today to offer some creative and logical ways to keep your event’s expenses down, thereby “doing more with less.” It is my opinion – well-seasoned after…

  • Celebrate Ontario 2017 now accepting applications

    Province investing in festivals and events to boost tourism and create jobs Ontario is encouraging festival and event organizers across the province to apply for Celebrate Ontario 2017 funding. Celebrate Ontario is a grant program that makes it easier for festival and event organizers to offer new and improved experiences that attract more tourists and increase visitor spending. Last year, the program supported 200 festivals and events across the province, boosting local economies. For 2017, organizers of existing large festivals…

  • Unconventional venue contracts still require conventional contract wisdom

    As revealed in my last article, there are a multitude of items that one must consider when “finding the perfect fit” between an event and an unconventional venue. The wide range of factors to be considered (which even at 30-plus items was not exhaustive!) gives credence to the importance of fully understanding the wants and needs of the event, and the capabilities and limitations of the venue, and when compared side by side – being able to discern the best…

  • Measuring event success: 16 tips for helping your clients understand money well spent

    After the 2008 recession, the events industry took a major hit. Companies went from having lavish parties and extravagant events to cutting down to the bare minimum. Then more than ever, event industry professionals had to consistently prove their value and the value of business events to executives and decisions makers. All of a sudden, measuring the ROI and the overall quantifiable success of events became a top priority in order to show the real value of face to face…

  • Negotiating Internet pricing for corporate events: The elephant in the room

    Meeting planners understand that venues need to make money. Its common knowledge that profits on hotel guestrooms run around 80 per cent and food and beverage around 40 per cent. But I have not seen anything that discloses what profits are being realized from Internet service, yet Internet access has become an integral part of events. This makes negotiating Internet pricing more difficult. While meeting planners are well versed on negotiating meeting space, Internet service is different, and many planners…

  • Seven best practices for success with eRFPs

    By Mike Mason eRFP technology has made fundamental changes in the way meeting planning works. The technology was designed to let planners send meeting requests to hotels in a couple of clicks and magically receive complete proposals back in a few hours. In reality, though, the technology that was supposed to save hours of work is now the No. 1 reason why planners are not receiving timely and complete proposals from hotels. The problem with eRFPs is that they have…

  • How an effective program agenda can make or break your next event

    By Amanda Stewart A significant investment is made in time and dollars in creating an event, whether it is a conference, national sales meeting, a reward and recognition trip, a gala or networking event. Connecting and engaging your audience is essential to the event’s success. A well-rounded program agenda, developed with the audience as the focus, will create a successful event, achieve your objectives and reap the benefits of the investment. For successful meeting planners, the process of building the…

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