Event Forensics - deep dive into the past for future savings!
Do you ever feel like you are not getting the best deal from suppliers?
Do you have the feeling that not all fees are being disclosed to you upfront?
And then, on top of it, you need to provide updated numbers for budget meetings and show a forecast of the spending to the annual budget for conferences.
We can feel the stress building up just by asking the questions! But it's you, who is affected the most by those circumstances. To help you, we created a special service called Event Forensics.
When you look at the term “forensics”, it has few meanings, but when we created the service, we focused on this one especially: "scientific analysis of physical evidence (as from a crime scene)" (source: https://www.merriam-webster.com/dictionary/forensic).
How this service helps meeting planners is it analyzes "physical evidence" from past conferences, for discussion or debate. And in our world, negotiations with suppliers. After all, negotiations are a discussion or a debate, right? Our sourcing and contract negotiation services, always start with event forensics. Schedule your free consultation here.
Let us tell you how this service works . When we start working with you, we will ask you to upload all necessary contracts and invoices from the last three conferences you held. For every $ that you have spent during the conference, we will assign it a category and input it into our proprietary tool.
We will compare your contracted room block to the actual number of rooms occupied. If you ended up with an overflow hotel or two, we will input that data as well.
We will compare your contracted food and beverage minimum to your actual spending. We will track every meal and f&b function you have had in the hotel and off-site. If you had separate meals for staff, we would track them in a separate column. Production, AV, labor, set up fees, corkage fees, bartender fees, transportation, entertainment, shipping, security, etc. we will input all of those and compare those for you year after year, so you have data from at least the last three years in front of you. If this sounds like a service you need, click here to schedule a free consultation.
At the end of our Event Forensics service, you will be provided with a customized "dashboard" where you will be able to gain high-level insights of trends, with recommended customized strategies for future programs. You will know EXACTLY what your conference's economic impact on the destination is.
As a final attribute, this service will help with creating the most accurate RFP needs and be ready at any point of the year for budget meetings and updates. One of our clients, with the help of Event Forensics, got rid of overflow hotels for their conference, started sourcing larger hotels for all attendees to stay in the conference hosting hotel, revised the contracted f&b minimum to leverage more concessions, and was ready for budget meetings with CEO, COO and Finance Committee.
We would love to help you create unmissable events. Schedule a call TODAY!
Corporate Event Planning
Global Meeting Planners and Event Management Company
