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New study reveals event planners want speed and accuracy in RFP responses

Event planners want speed and accuracy on RFP responses

A survey by event management company Cvent shows event planners desire transparency, accuracy and speed from suppliers when they respond to a request for proposal (RFP).

The study, entitled the 2017 Global Planner Sourcing Report, also found that more than half (54%) of those surveyed are Millennials, followed by those aged between 35 and 52 (38%). Four in 10 revealed that venues could improve the chances of getting business by providing answers to all of the questions asked on their RFP. Nearly a quarter (24%) stated accurate pricing quotes are key to winning their business, while 19% said simply responding by the deadline is important.

While comparing prices, negotiating with suppliers and researching venues were cited as the biggest challenges facing event planners, 6% say they often don’t know their desired destination or budget early in the planning process. Location, cost and availability of preferred dates are the top features event professionals look for when making a decision.

Chain hotels, cultural venues such as museums and hotels with unique spaces all ranked equally popular (30%, 29% and 21%, respectively), while 16% prefer to use independent or boutique hotels. Word of mouth is still king when it comes to searching for venues, as 28% listen to recommendations from colleagues, followed by the property’s website (20%) and Google search results (19%).

“Not surprisingly, location and cost continue to be the key factors that planners look for when selecting a venue,” said Stacey Fontenot, VP of Marketing for Cvent. “Event planners have made it clear there are certain frustrations, including accuracy in pricing and response time, they have during the RFP process that venues can work to address to generate more events and business.”

Download the full report HERE.