It seems that everyone is trying to cut costs today. This is true of many meeting planners, as well their corporate clients. Whether the impetus comes from the need to decrease expenses to stay within a new, lower budget or to maintain a responsible appearance to members of the public that keep a watchful eye on big business spending, the simple truth is that everyone is more concerned about cost these days. This can often place meeting planners in a difficult position where clients are demanding the same level of quality for a lower price.

There is only so much you can trim off of your fees and still continue to make payroll and a profit; however, there are other ways to trim expenses while pleasing your clients and not selling yourself short.

If you do not already bargain and barter with your vendors, now is the time to start. With a recession in full swing and folks becoming increasingly aware of every penny they spend, bargaining and bartering have become quite common and are an excellent way for both parties to benefit from the relationship and meet their goals.

You have a valuable service that you can trade for the products and services you need. Alternatively, do not be afraid to ask for lower prices and to bargain your way to better deals for you and your clients.

Although you are a meeting or event planner, that term really does not encompass everything you do. On the other hand, what you do is likely so specialized that you have placed your specialty in front of your general job description, like “Wedding Planner,” or “International Events Planner.” While this is a very common thing to do, understanding the market segment may not be so common–this understand, though, could help you expand your business into other areas of your segment.

For instance, if you are a wedding planner, your general area of influence is wide. The event is really a large celebration, so celebrations is more your all-encompassing job description even though you mostly plan weddings. This can help you in times like the last year, when weddings have taken a back seat to elopements due to the recession.

A wedding planner who did not take advantage of other kinds of needs over the last year has suffered greatly. Those who added cultural coming-of-age celebrations, graduation parties, and even political events fared well. Every segment of the meeting planning business can overlap into others; you can expand your knowledge and experience as well as your customer base in very short time.

So take a look at your market segment. An event planner can always expand her influence, and should in case of a downturn like we just had (and are still suffering through). Be out there, shake hands, open up your opportunities, and be prepared.

People all over the world are struggling with the effects of the recession. It has hit the United States pretty hard and many people are just grateful to have a job. Incentive travel is a good means to lift the spirits of your staff and keep them motivated to do more locally and globally.

Many corporations select a charity and sponsor various events to raise money or supplies for their cause. This could be through employee blood donations or food donations or outright monetary gifts. Philanthropic gestures can be combined with incentive travel. Exotic locations offer the opportunity for tourists to help the local economy in personal and significant ways.

Philanthropic travel can be part of a team building exercise. Designating an afternoon during an incentive trip to get involved with a local charity just makes people feel better about themselves, creating a special bond between visitors and locals. Offering a local organization a “hands-on” rather than a hand-out is a show of respect for their efforts and leaves their dignity intact.

Try matching a local cause with one at your travel destination. For example, hunger is a world wide concern. The team that volunteers with a soup kitchen away from home returns more compassionate and wiser than when they left home.

There has been a lot of talk of government restrictions on corporate travel. Frivolous expenditures in other departments has brought meeting travel under scrutiny. However, if planners study the guidelines and make the government a partner instead of an adversary, they can make the recession work in their favor.

First, Look at the Bright Side

No one likes a perennial Pollyanna, but if you look at the positive things the guidelines will do it can help you work your way into a special place in the companies you serve. It will make you a better planner. When you talk to your clients your voice will have a new spirit of confidence. You will have ready solution for their problems. You will be able to give them more value. Read the rest of this entry »