Is your event management company saving you money? There are countless benefits to using an event management company and in these difficult economic times, it is crucial that every penny counts. A good event management company can save you money but what should you expect? How can you be sure that you are getting the best value?
11 Ways Your Event Management Company Should Save You Money
Here are 11 cost-saving benefits every event management company worth their weight in gold should be demonstrating to their clients.
Event Managers are an encyclopedia of knowledge. We often know venues, suppliers and contacts that you may never even have heard of. These little gems may not have the marketing budget to get them to the first page of Google to compete with the big boys but you can rest assured that they can offer you knock out rates as a result.
2. Special Offers
We like to be in the know and venues and suppliers ensure they regularly communicate special rates, offers, and discounts to us. Often the savings and offers are only open to past customers and/or event management companies/agencies on their database and we like nothing better than matching up the deals with our client’s needs.
3. Preferential Rates
We have great relationships with many venues and suppliers which encourages them to give us excellent rates. Venues and suppliers like working with professionals because we understand the process, we are organised, meet all deadlines and save a lot of leg work and time for the venue/supplier as a result.
We really value our suppliers and our suppliers value us. In recognition of the value of work we place with our trusted suppliers throughout the course of a year, we are often lucky enough to get discounts, meaning that our clients benefit from the economies of scale of our total annual spend. For example, our preferred and fantastic audio visual supplier is Active AV. They automatically offer us 20% discount off all equipment hire. This saving is then passed on directly to our event management clients.
We cultivate good relationships with our suppliers which often pays off for our clients in terms of added extras chucked in.
We will always negotiate to ensure our clients get the best possible price. And then we make comparisions between the offers made. And then we negotiate some more! Often we negotiate price discounts but we can also ensure better value by getting more included or preferential contract terms in favour of the client.
Good research skills are an essential part of every event managers CV. How can you be sure you are getting the best rates unless you shop around and triple check? That is what a good event management company will check and ensure, giving you peace of mind.
6. The Bigger Picture
We know the questions to ask. Unfortunately, some organisations and venues prefer to hide the true costs and land customers with unexpected expenditure items after contracts have been signed, rather than being transparent. We like to ask questions from the start so you are not going to get charged £50 for use of a plug socket (I kid you not!).
We also know where money should be spent and where it can be scrimped without compromising on quality – for instance, pull up banners for £23 each – yes please, versus £300 for one (of comparable quality I hasten to add).
Often we can suggest viable alternatives. Often things can be done differently to make the event slicker and save money.
On event days we are never without our “event managers box” too – a box of essential equipment and items close to hand which often prove to be invaluable.
7. Beg, Borrow or Steal
Recently a client needed an expensive piece of equipment and had no budget to pay for it. I was the first person they contacted to help. It is always good to pick up the phone and hear “I didn’t know where to start but I thought that if anyone will know you will know!” And it paid off for them too!
8. Don’t Pay for Things You Don’t Need
We help our clients to work out what they need so they don’t have to pay for things they don’t need. We always have a client’s best interests at heart – for example is a DDR (day delegate rate) really best for your needs or would it be cheaper to pay for room hire, catering and audiovisual separately on this occasion?
In terms of catering have you taken into account the speakers that cannot stay for lunch, the late arrivals and the likely number of no-shows? We can advise on these headaches so you don’t have to worry or waste your valuable budget.
Many of our clients want us to create and control an event budget so they can make pricing decisions early on in the project and have regular updates in terms of income and expenditure and surpassing the break-even point.
We care about the event as much as you do and we will be watching every penny to ensure you maximise your budget throughout the life of the project.
We like to be up to date with the newest technologies. We can advise what will have the wow factor and maximise the event experience without necessarily costing the earth. Text to screen systems, barcoded registration systems, event apps, twitter walls are just a few items that can be low cost but really transform the event.
Do you need a registration site but are you baffled by the different rates and commission charges? We can look at what you need your registration page to do and the payments involved to give a clear idea of which sites can work best for you – Eventbrite probably isn’t the cheapest option for you for a paid event.
11. Work in Your Best Interests at All Times
Sometimes the unexpected can happen and you may need to change to a larger or smaller venue, change dates or even cancel your event completely. The terms and conditions of the contract can be baffling but should this happen we will work with the venue and suppliers to minimise the penalties and negotiate the best deal for you.
This post has focused on some of the direct monetary savings an event management company will make for you. Of course, one of the huge advantages of contracting an event manager is also the time savings you make, leaving you to focus on the job you are paid to do and earning money for your organisation, whilst you leave the planning and organisation to the experts.
This blog has given just a few examples of how Events Northern Ltd add value, save money for our clients and maximize their budget. Are you getting excellent value from your event management company? Are they saving you money? If not, or if you are not so sure, then contact us – we would love to hear from you and will prove how an event management company can save you money!
Read this post if you want to know how much an event management company costs.