Issue link: https://digital.copcomm.com/i/12999
• Consolidate. If budgets are tight, place as much as you can with one or two vendors. Your project will look big- ger, garner more attention, and you’ll save time and money in the process. Every vendor you add creates a profit center for that vendor and adds at least 10-20 hours of management time for you. When the program changes, or you need to revise your budget, you’re fight- ing each vendor for their profit and spending significant amounts of time to accomplish small reductions. • Be creative. Find something that doesn’t really cost the hotel or vendor and leverage it. For example, airport transfers can sometimes be provided at no charge if a hotel has buses. It’s a relatively low cost item to the hotel, but can save tens of thousands in transfers or cabs. Also think about asking for free printing from the hotel’s business cen- ter. Free prints means saving on print and even more savings on shipping. • Lean on your suppliers. Everyone is reinventing themselves in today’s economy and suppliers are open to new ideas and hungry for addi- tional work. They want to be a resource and are willing to take on additional responsibility to get there. Think of a supplier as an assistant and ask them for small tasks and expertise. An extra body for a registration desk may only be a phone call away. • Buy in bulk. It’s amazing how simple this concept is, but how little it’s applied. Hotels and vendors want repeat business and they’re willing to discount to get it. Use that to your advantage. Can’t sign a three-year contract? Don’t worry. Negotiate rebates that kick in retroactively once you reach a certain level. There’s no need for a commitment because if you don’t deliver the business, they don’t have to deliver the discount. • Go dutch. Sharing meeting and production expenses with another company is novel, but effective. For a savvy buyer, splitting costs with anoth- er group is an easy way to get your numbers down. Brokering the deal can be challenging and you have to be somewhat flexible. Need a match? Often times your planner, the hotel, or even a supplier can find the right com- pany. • Don’t cram. The only “don’t” on our list addresses the temptation to pack 12 hours of meetings into an 8- hour day. Packing in content will drain your attendees. Sure, if you get a 3-day meeting done in one day, you’ll save plenty, but no one will remember. The effectiveness of the meeting is a pri- mary goal. If attendees are engaged, the meeting generates business results. Don’t lose sight of the purpose. Maintaining that learning environment is the key to a successful meeting. About the author: Steve Auer, CEO of Cadence, Inc., is a 20-year veteran of the live event and meeting production industry. Since 1997, Cadence has been helping companies like Mercedes-Benz, Ford, PepsiCo, Frito-Lay, and Novartis deliver cost-effective meetings and events worldwide. Cadence provides creative services, venue sourcing, meeting plan- ning, and logistical support for meetings and tradeshows. For more information about Cadence, please visit http://www.- cadence-inc.com/. 38 Black Meetings & Tourism May/June 2010: www.blackmeetingsandtourism.com