Seminar Purchase Centralization and Cost Reduction

Here are the questions that you can ask yourselves when you become seminar buyers, meeting buyers or MICE buyers?

How to save money on your seminar purchases?

In order to save money when you buy, the first rule is to know what you are buying, on what quantity, at what time, and who the prescribers and decision makers are.

In order to obtain this visibility, you can go through a Venue Finder or choose an event management software such as Genius Meetings.

As soon as you have a visibility on your expenses, you can develop a strategy: 

• Establish annual contracts with certain suppliers by negotiating the prices
• Regroup the expenses to a limited number of establishments
• Focus on the 20% of events that make up 80% of the expenses (if it applies, which is usually the case)
• Set up concurrency processes for event organizers
• Ask to be in the loop when the seminar exceeds an amount to manage the final negotiation yourself

These are just leads and strategies to be tailored to each company

How to buy a seminar?

The rule when buying a seminar is that the time plays against you. The sooner you go, the more places that are available to you, and the more competition you will have.

So, anticipate! You know that every year there is a return seminar, ask for estimates 4 months in advance and play the competition.

Another tip: think of everything when you ask for a quote because once the place is chosen and the contract is signed, you will have more of a margin of negotiation and will pay full price. Therefore, think about the technique and the breaks.

How to reduce the costs of the seminars?

As with any expense, it is possible to reduce costs by removing the seminars, but it is not recommended. The best thing to do is to apply the tips above and to follow these expenses well to avoid any slippage. By monitoring these expenses, the event organizers will already be paying more attention. Train your prescribers at the negotiation, or ask them to put you in the loop. The places will be more reasonable knowing that there is a buyer already ready to purchase.