TAKE THE FIRST STEP TOWARDS HIGHER RETURNS AND HEALTHY GROWTH


How To Pare Your Budget in a Supplier-Advantaged Marketplace


Posted by Kevin Iwamoto on 04/17/2014

< Back to Blog


We all know that the Meetings, Events & Travel industry is a cyclical business based primarily on supply and demand.  Unfortunately for buyers, suppliers have held the advantage in negotiations for the last 3 to 4 years.  I was just going to list and share some best practices on how travel and meeting managers can stay within or even below budget, when my friend Kathy Stoodley, director, meetings & events in North America for CWT Meetings & Events, shared her suggestions recently via Ignite! Magazine.

I happen to agree with Kathy’s recommendations at a high level:

1-Negotiate smarter, using total spend, not just sleeping rooms and meeting rooms;

2-Book in advance;

3-Broaden your search by considering tertiary or secondary cities, off peak days of the week, and investigate if downgrading the hotel standard is feasible;

4-Leverage current contracted space; now is the time to fully redeploy cancelled or attrition impacted space;

5-Stay closer to home, meet locally or domestically;

6-Reduce attendee counts;

7-Use technology tools like our Meeting Locator that can approximate ballpark destination cost analyses.  It will not only save you and your company a lot of time and research, but it will also document your sourcing process.

8-Reduce the time out of office. You would be amazed at how much you can save if you reduce your meetings by one day or even a half day, which reduces your need for an additional hotel night.

If anyone has any other practical and proven tips, please drop me a line and share your best  practices on staying within budget!

SHARE THIS POST:

Cvent and Lanyon Announce Merger

Posted by Lanyon on 11/29/2016

Cvent and Lanyon have merged


READ MORE


Lanyon Launches Smart Events Cloud 2016

Posted by Lanyon on 09/19/2016

Lanyon Launches Smart Events Cloud 2016


READ MORE


Meetings Today-Lanyon Launches Smart Events Cloud 2016-July 2016

Posted by Patrick Mendoza on 07/26/2016

Lanyon, a meetings and travel software company, released a new version of its Smart Events Cloud platform that features a number of significant enhancements, a simplified user interface and improved scalability.


READ MORE


Lanyon Launches New Functionality and Salesforce Integration for the Company's Smart Events Cloud®

Posted by Lanyon on 07/25/2016

New release delivers event ROI transparency for marketing teams


READ MORE


Lanyon Selected as Event technology Provider by Meeting Professionals International

Posted by Lanyon on 06/15/2016

Lanyon Selected as Event Technology Provider by Meeting Professionals International


READ MORE


Meetings and Conventions Magazine — 5 Tips to Make Your Event More Environmentally Friendly — May 2016

Posted by Lanyon Staff on 05/11/2016

Earth Day fell on April 22 this year. As happens every year, people from around the world agreed on that day to turn off lights, reflect on ways to make our planet cleaner and take steps to reduce waste. 
 
As we in this industry know, bringing together thousands of people can create a great deal of waste and emissions. However, we can make conscious decisions every day, at every event, to make sure we are doing all that we can to make our events environmentally friendly.
 


Read the original article here.


READ MORE


Lanyon Selected to Power GBTA’s Worldwide Events

Posted by Lanyon on 05/02/2016

Dallas, Texas (April 28, 2016) — Lanyon, a global leader in meetings, events and travel software, today announced that the Global Business Travel Association (GBTA) has selected the company’s RegOnline® software to power their global events. The agreement reinforces Lanyon’s commitment to provide best-in-class software to the association marketplace.


READ MORE


How Dreamforce Mastered Event Registration With Salesforce’s Scott Owens

Posted by Lanyon on 04/25/2016

Salesforce, the world’s leading CRM technology provider, is one of the most recognizable names in the tech industry. And with over 172,000 attendees, their flagship event, Dreamforce, is the largest software conference on Earth. They’re also a Lanyon customer.


READ MORE


PCMA Convene – 5 Tips to Max Out Your Mobile Event App – April 2016

Posted by Lanyon Staff on 04/11/2016

If you’ve attended an event, or even walked around any street recently, it’s a safe bet you saw a lot of folks walking around with their heads down, eyes trained on their smartphones, thumbs busily scrolling up and down their screens.

What’s so awesome about their phones? Most likely, they were engaged with an app. 

 

...read the original article here.


READ MORE


PREVIOUS   1|2|3|4|5|6|7|8|9 NEXT 
Mobile search icon Search