Ms. McCullough

Meetings & Conventions

Thirteen Tips for Saving on Your Next Corporate Meeting

By Lynn McCullough, Executive Director, ACOM

Just as consumers are urged by financial-savvy experts to forego that morning cup of coffee at the convenience store to save a few hundred dollars by year's end, experts involved with corporate meeting planning believe there are a variety of cost-savings efforts that can not only keep you on budget, but below budget.

Here's a closer look at what you can do to help save on your next corporate meeting:

1: Take Advantage of Your Local Convention and Visitors Bureau (CVB)

Every city has one, but not everyone takes advantage of the services they offer: Convention and Visitors Bureaus. They offer more than maps and a history of a city. Marie Fuehner, Director of Bureau Services at the Northern Kentucky Convention and Visitors Bureau, regularly assists corporate meeting planners. "CVBs have strong relationships with hotel corporate departments and services throughout a city," says Fuehner, who is also a member of the Association for Convention Operations Management (ACOM), an organization dedicated to advancing the practice of conventions services management and preparing CSM professionals for ongoing growth and success. "For this reason, we are not only knowledgeable about who to recommend as the ideal person for your needs, but can save you costs that would otherwise be incurred if you were to go to a third party vendor. And typically, CVB services are complimentary-that's the best part. If not totally complimentary, they will likely be less than reaching out to a third party. You save time and money either way."

She explains that depending on the meeting, the savings vary from hundreds to thousands of dollars. Additionally, she says that getting to that point means using complimentary services that can range from on-site registration assistance and name badge creation to bag stuffing, signage in local restaurants and other facilities and booth set up.

"Some people come into a city and overlook the services of a CVB," she says. "Think about it. Who better understands the city and services within that city than the representatives that breathe that city day in and day out and can do a great deal of legwork for you?"

Don Biggs, Director of Point of Service Technologies at BlueStar, a distributor of point of sale and auto ID solutions, can back up savings gained from using the services of a CVB. "If you work with one place that has their finger on everything, you will save money without a doubt," he says. "You don't want a place that just regurgitates quotes to you."

Biggs worked with the Northern Kentucky CVB for an annual trade show for his company. "By working with the Northern Kentucky CVB, we saved upwards of $25,000 off the cost of having another party to plan."

Vanessa Kane, CMP, is the Manager of Meetings and Events, Veterans of Foreign Wars of the US, in Kansas City, MO. Like Fuehner, she too is an ACOM member. She adamantly agrees with Biggs. "I always utilize the services of the CVBs. I don't know what I'd do without them."

2: Research

Knowing what resources are available is critical to saving time and money. Biggs points out that use of www.passkey.com is "an invaluable resource for providing cost-saving tips when planning a corporate meeting."

Take the time to plan. Talk to people and network. Don't be afraid of the Internet. If you don't ask, you may never know what savings you can reap. Especially if you have been dealing with a particular city, hotel or venue on a regular basis-as a long time customer, it's more likely than not that they will be willing to work with you to cut prices.

3: Negotiate, Negotiate, Negotiate

Biggs also recommends the fine art of negotiation. "It may sound obvious, but while people may talk about the importance of negotiation, many tend to stop there. They don't always do what they talk about."

It's necessary to talk to people about what you need and what your price point is. Remember, they are working for you, not the other way around. You need to convey what your needs are and if it doesn't reflect cost-savings, go elsewhere until you find a group willing to make it happen for you.

4: Use an Intern/Volunteers

There are other resources in addition to using a CVB that will help save time and money for your next corporate meeting. Kane, fond of using the assistance of a CVB, also suggests using the assistance of an intern and other volunteers.

"There are so many resources available to people," says Kane. "One thing I've been doing lately is soliciting the assistance of a meetings-related intern and committee volunteers within the city who can provide us with on-site support. This is very good for us with regard to costs."

Kane, who runs the annual VFW National Convention on a non-profit basis with a small staff, estimates that use of interns and volunteers can help save significant dollars in planning a meeting.

"Think of it this way," she says. "If we didn't have the volunteers, we would need additional staff to handle certain aspects of our planning process and that would entail hotel, airfare and per diems for the staff. Clearly, we save money this way and still obtain quality level work and professional assistance from the interns and volunteers."

5: Bid

Kane also explains that bidding can be a great time and money saver. "We bid out a number of our service needs like production and decorating services and often sign a 3-year contract which helps to reduce costs," she says. "That way we maintain consistency by not having to turn to a different company each year."

As for myself, I can share several tips on how to cut costs when it comes to food and beverages. I can tell you that everything from skipping salt to re-circulating centerpieces will trim the fat from your budget.

You can save upwards of $500 or more on one meeting involving about 50 people by knowing where to cut on your food and beverages. If your budget is limited, substitute foods and be creative at the same time. You'll be surprised.

Cutting Food and Beverage Costs

6: Butler Pass Hors d'oeuvres

When people are presented with a limited supply of food that is typically found on the trays that waiters carry as they mingle throughout a meeting or event, attendees will usually only take one or two pieces, therefore consuming less.

When hors d'oeuvres are laid out buffet-style, people tend to help themselves to larger quantities of food. Envision your dollars being scooped up as attendees scoop up every second and third helping or take that extra large dollop of that tasty treat and you'll learn fast that limiting food will save you money.

7: Don't Announce Last Call

If yours is a meeting where alcohol will be served, don't announce last call at the end of your get-together. In doing so, everyone tends to flock to have that last glass of wine. You might as well stand behind the bar yourself and watch the money just float away as person after person takes the evening's last sip. Instead, gradually shut down.

8: Use Dead Stock

Venues often change alcohol suppliers leaving them with left over quantities of a brand they are no longer able to sell. This is a great money saving opportunity. Ask the venue to sell you their leftover inventory. They will often sell it to you at discount prices. This helps them reduce their inventory and you reduce your bar costs.

9: Break out the Popcorn

Skip fancy. Be different. A little creativity goes a long way for your meeting attendees and for your wallet. If you have popcorn on hand, it will serve as an unexpected element where fancy cookies are commonly served, not only pleasantly surprising attendees, but filling them up without costing you much at all.

10: Serve lunch desert at the PM Break

Consider serving your lunchtime desert at the PM break! After a filling lunch most people won't miss the dessert. But a nice sweet at the PM break will not go unnoticed. Why throw away money on your uneaten desert? You have paid for the dessert, so make the most of it and save some money on your break.

11: Re-Use Table Centerpieces

Let recycling take on new meaning. Centerpieces are not cheap. Why use them only for your lunch tables? Many hotels can store floral arrangements in their refrigerators, thus allowing you to reuse them for your dinner function and even your breakfast function the next day. So take them from one function to the next and save yourself some time and money while offering your attendees a nice table presentation!

And centerpieces need not be of the refrigerated kind: ACOM has reached out to their members asking them to bring teddy bears to their luncheons. The teddy bears are ultimately donated to local charities after the luncheon is held, but until that time, they are used as unique centerpieces. This way, we kill two birds with one stone, saving time and of course, money.

12: Put Expensive Food Towards the Back of the Room

Skimp on the shrimp. Before a meeting starts, people tend to mingle in one common area-the entrance of the room. By putting the more expensive food in the back of a room, you still offer your attendees the option of having such culinary delicacies, but in reality, they will not typically be inclined to find their way to the back area, allowing you to purchase smaller quantities of the expensive items.

13: Smaller Plates, Lower Costs

With smaller plates, not only can less food fit, but people are less inclined to go back for seconds. Smaller automatically sends the message that food consumption should be minimized. People rarely start piling food high on small plates and making their way up for second helpings.

So for your next corporate meeting, break out the popcorn, forego the never-ending bottles of Chardonnay, get hold of some volunteers and call your local CVB. You'll be glad you did.

Lynn McCullough was formerly Executive Director of the Association for Convention Operations Management (ACOM). Ms. McCullough was involved with the direction and management of the association, as well as membership recruitment and retention. She provided substantial direction on strategy and tactical issues, with responsibilities that included Board of Director relations, strategic development, and event planning and management including promotion, set-up and follow-up. Ms. McCullough earned her Bachelor of Journalism degree from the University of Missouri School of Journalism. Ms. McCullough can be contacted at 609-799-3712 or lmccullough@cmasolutions.com Extended Bio...

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