Know the Total
Expenditures
If you don’t have
visibility across all
of your meetings
expenditures, then you
are missing opportunities
to properly fund your
meetings program.
Small or simple meetings
might not be as
complex, but they occur
much more frequently
and the spending
adds up quickly.
Dig Into Your
Expenses
Your meetings
management programs
costs, your company
something. Learn
whether your meetings
program is funded by
hotel commissions or
by internal resources
supplying the labor.
Clear insights into
the total cost of
operations for your
meetings program
will lead you toward
a balanced budget.
Leverage Hotel
Volume
Just as you would
leverage your buying
power on the transient
side of the business, let
your meetings volume
also affect pricing.
Data has shown that
many companies
source their transient
hotels separately from
meetings hotels – leaving
money on the table.
26
Use Credit
Card Rebates &
Basis Points
How are you paying for
your event costs? If you
are using a Purchase
Order or invoice process
and have not considered
switching to some form
of credit card payment,
then you are missing
out on valuable rebates
and additional basis
points available if you
can consolidate your
spending and drive the
process through a single
payment platform.
Secure Sponsorships
Many companies will use
sponsorships to offset the
cost of the event. Have
you considered leveraging
a supplier sponsorship
to offset the cost of your
meetings program?
When all else doesn’t
seem to work, speak
to a meetings
management expert.
You wouldn’t hire your
uncle to decorate your
new house (unless that
was his profession)
so why leave your
meetings in the hands
of someone without
the necessary skill
or access to tools
used by the pros?