Thousands of planners have discovered that the Cvent Supplier Network is a fantastic resource to research meeting venues, whether they’re looking for a venue locally, nationwide, or even globally. But what many planners don’t know is that sending a Request for Proposal (RFP) through the network can equate to major savings for their clients or organization. Did I mention that this service is completely free of cost? Listed below are five cost-saving reasons to send an RFP through the Cvent Supplier Network:
1. Save Time
You may be thinking, “I already have a system in place to source venues for my events, and it works just fine for me. Why should I invest time in learning a brand new process?” The answer to that question is quite simple—because it will save you much more time in the long run! Do you re-write an RFP for every meeting that you plan? Chances are, if you’re holding an event this year that you have held in previous years, your requirements for a venue probably aren’t going to change much. With the Cvent Supplier Network, you can replicate your previous RFPs and quickly update any changes to send it out year after year. Then, you’ll have a record of all the venues you’ve considered over the years and all of their quotes, easily accessible from your Cvent account.
Maybe your current system doesn’t involve writing RFPs at all, but rather, you research venues on the internet and call the properties directly. But how long does it take you to Google all the potential venues in an area, confirm that they have the meeting space that you need, find their contact information, wait on hold while the front desk transfers you to the Sales office, relay all the information about your meeting, wait to get emailed back pricing…? You get the picture. Multiply that process by 8-10 properties to make sure you’re getting the best deal, and your days are easily consumed just sourcing your event—not to mention all the planning that comes after! Fortunately, Cvent has a team of representatives called the Supplier Response team who are entirely dedicated to getting your bids back from venues quickly when you send out an RFP. They make all the phone calls and explain your meeting details directly to the venues so you don’t have to do all the heavy lifting. The Supplier Response team also ensures that venues respond to your RFP through the Cvent system in a timely manner so that you can compare your bids side-by-side, all in one place.
2. Gain Negotiating Power
Another reason you might be skeptical of sending an RFP is because you already know the venue where you want to hold your event, or you’ve held it at that location before. But are you sure that you’re getting the best rate at your stand-by property? What if another property could better suit your needs? On Monday, I wrote a post on how to negotiate better deals by sending an RFP on the Supplier Network. Knowing what else is out there is extremely important, even if you’re sourcing an event locally, because if you have bids from competing properties, you can better negotiate down the rates at your preferred venue. In this economy, several venues have had to significantly change their pricing, and sending an RFP is a quick way to check what the going rate is in an area. You might even find that a venue has an enticing promotion that you just can’t turn down!
3. Build on Existing Relationships
Perhaps you’ve already done your time on hold, waiting to be connected to the correct contact at a venue, and since then you have actually built a rapport with that person. That’s great! In the meetings and events industry, relationships are extremely important (and they can even help you snag better rates). With Cvent’s functionality, you can send your RFPs directly to your personal contacts at a venue to ensure that your RFP falls in the right hands. You get all the benefits of having your RFP details and meeting history stored in your Cvent account, plus you get the credit for sending business to your go-to supplier!
4. Leverage National or Global Sales Contacts
What if your contacts aren’t at an individual property but you rely on National or Global Sales contacts at major hotel chains? Cvent has you covered! On the Cvent Supplier Network, you can take advantage of our NSO/GSO forwarding functionality, which allows you to send your RFPs to a National or Global Sales rep. Then, the NSO or GSO can forward your RFP out through Cvent to its properties that fit your needs. Using this feature, you get all the cost-savings of using the NSO or GSO, plus benefits #1-3 above.
5. Use a CVB’s Expertise
If your job entails planning meetings in destinations that you’re unfamiliar with, a Convention and Visitors Bureau (also known as a Destination Marketing Organization) can help. A CVB is a non-profit organization that represents a specific metropolitan area or city. Since CVBs are the experts on their respective destinations, using a CVB helps you save time and money because they know which venues in their area are best suited to your RFP. CVBs also know which properties can offer you the best rates and promotions because they’re always looking for ways to make their city more competitive than the next. On the Cvent Supplier Network, you can send your RFP to a CVB (or a few), and they can forward your RFP to the best properties in their city. It’s as simple as searching a major metro area on the Supplier Network and filtering the “Venue Type” on the left hand side of the results screen by clicking “CVB.” Add the CVB to your RFP and launch. Voila! Just wait for the bids to start rolling in.
If you’re not even sure yet which cities to consider for your next meeting, check out the Cvent Destination Guide, which has information specifically geared towards meeting planners about destinations around the world. You can also see which destinations are most economical for your meetings by comparing average stats for each city on our Event Planning Comparison Chart.
1. Save Time
You may be thinking, “I already have a system in place to source venues for my events, and it works just fine for me. Why should I invest time in learning a brand new process?” The answer to that question is quite simple—because it will save you much more time in the long run! Do you re-write an RFP for every meeting that you plan? Chances are, if you’re holding an event this year that you have held in previous years, your requirements for a venue probably aren’t going to change much. With the Cvent Supplier Network, you can replicate your previous RFPs and quickly update any changes to send it out year after year. Then, you’ll have a record of all the venues you’ve considered over the years and all of their quotes, easily accessible from your Cvent account. Maybe your current system doesn’t involve writing RFPs at all, but rather, you research venues on the internet and call the properties directly. But how long does it take you to Google all the potential venues in an area, confirm that they have the meeting space that you need, find their contact information, wait on hold while the front desk transfers you to the Sales office, relay all the information about your meeting, wait to get emailed back pricing…? You get the picture. Multiply that process by 8-10 properties to make sure you’re getting the best deal, and your days are easily consumed just sourcing your event—not to mention all the planning that comes after! Fortunately, Cvent has a team of representatives called the Supplier Response team who are entirely dedicated to getting your bids back from venues quickly when you send out an RFP. They make all the phone calls and explain your meeting details directly to the venues so you don’t have to do all the heavy lifting. The Supplier Response team also ensures that venues respond to your RFP through the Cvent system in a timely manner so that you can compare your bids side-by-side, all in one place.
2. Gain Negotiating Power
Another reason you might be skeptical of sending an RFP is because you already know the venue where you want to hold your event, or you’ve held it at that location before. But are you sure that you’re getting the best rate at your stand-by property? What if another property could better suit your needs? On Monday, I wrote a post on how to negotiate better deals by sending an RFP on the Supplier Network. Knowing what else is out there is extremely important, even if you’re sourcing an event locally, because if you have bids from competing properties, you can better negotiate down the rates at your preferred venue. In this economy, several venues have had to significantly change their pricing, and sending an RFP is a quick way to check what the going rate is in an area. You might even find that a venue has an enticing promotion that you just can’t turn down!
3. Build on Existing Relationships
Perhaps you’ve already done your time on hold, waiting to be connected to the correct contact at a venue, and since then you have actually built a rapport with that person. That’s great! In the meetings and events industry, relationships are extremely important (and they can even help you snag better rates). With Cvent’s functionality, you can send your RFPs directly to your personal contacts at a venue to ensure that your RFP falls in the right hands. You get all the benefits of having your RFP details and meeting history stored in your Cvent account, plus you get the credit for sending business to your go-to supplier!
4. Leverage National or Global Sales Contacts
What if your contacts aren’t at an individual property but you rely on National or Global Sales contacts at major hotel chains? Cvent has you covered! On the Cvent Supplier Network, you can take advantage of our NSO/GSO forwarding functionality, which allows you to send your RFPs to a National or Global Sales rep. Then, the NSO or GSO can forward your RFP out through Cvent to its properties that fit your needs. Using this feature, you get all the cost-savings of using the NSO or GSO, plus benefits #1-3 above.
5. Use a CVB’s Expertise
If your job entails planning meetings in destinations that you’re unfamiliar with, a Convention and Visitors Bureau (also known as a Destination Marketing Organization) can help. A CVB is a non-profit organization that represents a specific metropolitan area or city. Since CVBs are the experts on their respective destinations, using a CVB helps you save time and money because they know which venues in their area are best suited to your RFP. CVBs also know which properties can offer you the best rates and promotions because they’re always looking for ways to make their city more competitive than the next. On the Cvent Supplier Network, you can send your RFP to a CVB (or a few), and they can forward your RFP to the best properties in their city. It’s as simple as searching a major metro area on the Supplier Network and filtering the “Venue Type” on the left hand side of the results screen by clicking “CVB.” Add the CVB to your RFP and launch. Voila! Just wait for the bids to start rolling in.
If you’re not even sure yet which cities to consider for your next meeting, check out the Cvent Destination Guide, which has information specifically geared towards meeting planners about destinations around the world. You can also see which destinations are most economical for your meetings by comparing average stats for each city on our Event Planning Comparison Chart.
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