When it comes to negotiating rates at venues and hotels, many have a strategy for negotiating the very best deal. Some take a hard line approach; others play venues, hotels and agencies against each other in a hope to secure to the deal. Some consolidate, whilst others don?t. Clearwater Events believes there are simple tools that, when applied, pay dividends in achieving brilliant cost savings.
Often Clearwater receives a brief that has been sent to multiple agencies ? possibly up to nine at a time. The aim is to spread the brief far and wide in hope of the best deal. However, this means nine agencies negotiating with the same hotels and venues. What ensues is counterproductive. The hotel cottons on, raising prices, as it knows it?s likely to win the business from one of the agencies.
What the client has done is create their very own mini-inflation. If the brief had gone to two agencies, then the chance of achieving a greater discount at the property would have been higher.
Negotiation isn?t about spreading the brief far and wide, thinking that the best deals are secured by reaching out to many. On the contrary, the best rates are negotiated through consolidation.
By consolidating your supplier usage, you have the ability to consolidate spend and use this to negotiate greater cost savings. You are seen as a valued customer and loyalty and relationships give rewards in the form of savings. Putting all your eggs in one basket really does work in some instances.
Clear Water Events?s top tips include:
? Track hotel and venue spend, including individual room nights and event spend.
? Identify properties you are using the most and connect with the regional sales manager.
? Don?t send enquiries to multiple agencies thinking this will give you the best deal.
? Be fair and loyal and try to consolidate; this will give you the greatest cost savings.
? Use an event agency ? not only can they advise you on the best venues and hotels to use but, you can take advantage of their own purchasing power.
Discover more about Clearwater Events at clearwaterevents.co.uk.