7 tips for venue sourcing and selection for incentives, meetings and conferences!

Conferences are a fantastic way to bring people together, share knowledge, and build a community. However, if you've ever been involved in organizing a conference, you'll know that they can be expensive to run. Most conferences struggle to break even, let alone turn a profit. But what if I told you that it's possible to plan a conference that not only breaks even but actually turns a profit? In this blog post, we'll explore one key strategy for planning profitable conferences and moving beyond breaking even. Today, we're delving into the world of profitable conferences and how to make them not just successful, but truly memorable and lucrative. And to add a touch of intrigue to our event planning arsenal, we introduce the cutting-edge service of Event Forensics. Planning a conference that not only meets but exceeds your financial goals is a daunting task. With so many moving parts, it's easy to get lost in the sea of different charges, quotes, and contracts. But fear not, dear event planners, for we're here to guide you through the maze and help you emerge victorious. So, what is the secret sauce to planning a profitable conference? Should you CUT cost on decor or activations? Maybe on food and beverage at the hotel? Or maybe you should forgo a 4 piece band during awards dinner and just use the good ole' Spotify list on your iPad? What if I told you that you do not have to cut costs on anything? What if I told you that the only thing you need to do, is put your analytical hat on? Or even better, hire us to do it for you! Let's shine the spotlight on Event Forensics. This innovative service is like having a detective at your side, uncovering valuable insights and data that can significantly boost the profitability of your conference. By analyzing financial info from past conferences, Event Forensics unveils a hidden road to profitability! Imagine being able to identify what drains your budget year after year, because ... inflation.. cost of doing business... leap year... election year.. you get what we are saying! With Event Forensics, every invoice and contract from past conferences is analyzed to identify three things: Your conference's economic impact on the destination Your buying power Opportunities for savings Imagine a store that doesn't do inventory every few months. It loses leverage with its vendors and negotiating better deals looks like "throwing spaghetti at the wall and seeing what sticks". There is no meaningful strategic conversation possible. And while our competitors will tell you about relying on their negotiating and buying power, we want you to build and rely on your own. Here is what one of the clients said about the Event Forensics service: "It's a guiding tool to help you see whether you are staying within the budget, but it also helps you see whether you have room to play with. And what you helped me do was to get everything together, compare it year to year, to the sponsorship allocation..." Are you curious about the Event Forensics service? Contact us today to get more info!