We blog often about the how today's economic situation has created a buyer's market for meeting planners. Value adds such as complimentary breakfast and Internet service are becoming easier to negotiate as suppliers feel more and more pressure to book business.
If you're new to contract negotiations or just aren't sure what you should ask for now to get the most out of your meetings and events, consider the advice presented by Annette Gregg, CMP, CMM, as part of a Meetings Media Take 10 feature.
When it comes to concessions during contract negotiations, Gregg recommends her top 5 that will have the most impact on your bottom line:
1. Waived or reduced resort fee
2. Previous year's food and beverage pricing
3. Waived or reduced food and beverage minimum
4. 15 percent attrition/slippage, as close to the event as possible
5. 10 percent discount on audio-visual services
What concessions top your list?
If you're new to contract negotiations or just aren't sure what you should ask for now to get the most out of your meetings and events, consider the advice presented by Annette Gregg, CMP, CMM, as part of a Meetings Media Take 10 feature.
When it comes to concessions during contract negotiations, Gregg recommends her top 5 that will have the most impact on your bottom line:
1. Waived or reduced resort fee
2. Previous year's food and beverage pricing
3. Waived or reduced food and beverage minimum
4. 15 percent attrition/slippage, as close to the event as possible
5. 10 percent discount on audio-visual services
What concessions top your list?
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