Recognising the need for valuable data for a strategic meetings programme

VEnews June 2018 – All the latest from Venues and Events International
July 2, 2018
Spotlight on…Olivia Unsworth
July 6, 2018

Business workplace with keyboard mouse and papers with graphs and diagrams

The value in a venue finding agency is that they provide personal touches to meeting programmes. How do they do this? They recognise the need for valuable data in meetings spend…

Data is at the heart of every one of our meetings and is the strategic difference in what we as a venue finding agency brings to our clients. By using a combined meetings and transient strategy, provides a more cohesive buying power, allowing for much more of a strategic approach to meeting programmes for corporate clients. Being smarter about meeting data allows you to easily spot trends and evaluate the total cost of the meeting.

When we look at data we look at rates in key locations, carry out a cost analysis and review the value adds that the venues we use will provide. What will properties who are being put forward for their meeting offer to differentiate themselves? Building in value adds isn’t just about free Wi-Fi or car parking, clients are looking for something more. Hotels and venues are recognising the need to be different, to get new business through their doors and are working with agencies to enhance and personalise event concepts.

At Venues and Events International, we’ve recognised that meeting RFPs are becoming more and more frequent. It’s not so much the case that clients stick to the traditional RFP season of January to April, we’re regularly being asked for bespoke RFPs on specific destinations throughout the year. These tactical RFPs get more attention to individual meeting programmes as hotels and venues will not be inundated with thousands of requests at one time resulting in them sending through generic proposals on mass. Instead, it allows them to spend more time reviewing the bespoke requests with a key focus on providing better rates with enhanced value adds. In just the last 12 months we’ve successfully saved our clients up to 15% by combining their transient meeting room spend through tactical RFPs. Clients such as IFB are even booking two years in advance for their next meeting and event, resulting in higher cost savings to their business.

So once the meeting has finished, what happens next? What do you do with the data from the event? We use it to build a better travel and meetings policy for our clients showing continuous improvement to their strategic meetings programme.