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Not a newsflash: the economy is (still) in the tank. Projections for 2010 meetings suggest things will be worse before they get better. And as an event designer that initially doesn't sound very fun! With budgets slashed, clients keep coming with the desire to do the same or more for less. They want (or internal bosses are demanding) they demonstrate good value for their spend. And yet, more and more it seems the word "value" is being swapped for "cheap price".
While I could write for several paragraphs on the multitude of meanings of the word value, I want not to bore anyone who has given me the precious time to read this post. So instead we will just focus in one idea: "cheap price". And here is my thought: "cheap price" does not equal "good value" though you may find "good value" at a "cheap price".
It is not that I am advocating that vendors don't help their clients out in this time of need. Absolutely the opposite. Being a good vendor is about being a good partner, and as a good business partner we work very hard to understand the clients need and create solutions which deliver to those needs, as well as those limitations. Times are tough all around, and working together to create cost-effective solutions is always the way to go. That said, vendors shouldn't discount just to discount and grab up an extra piece of business. Doing so is short-sighted and steals away any real "value" the vendor's brand had. Good service and great ideas will always be valued and paid for. And in the creative solutions, cost reductions can be found, as long as the players in the project have clearly identified what they value in the first place.
The mistake I so often see is folks wanting to do what they have always done for a better price. But step back for a second. Ask instead "what value do we want to get out of what we are doing." So many events happen "because they always have" without real interest invested in the "why are we doing this project and what do we hope to achieve from it." To get "good value" you have to know what you "value" in the first place. What are the reasons and objectives for the meeting. Knowing these, does there have to be a general session? Does anyone really want name entertainment on opening night? Would the event be better with less people, but higher level discussions? Is our education track working? Is the networking earning us any business? The answer to any one of these questions (and the ones you have) may be Yes or No and both answers are right, provided it is a "value" to your situation.
Once you have identified these items which the organization or the attendees at the event value, you can set in on making good investment decisions with how to best spend the budget for the greatest return. It is not about checking the boxes, but spending money where it will reap the best benefit and foregoing or cutting back what you don't value. For the event planner: articulating the budget conversation in terms of organizational values provides leverage for you to articulate why you made the decor or entertainment or food choices you did (because our (clients/attendees/executives) value or don't value these items). It allows you to design your event to your needs-good value and therefore return-rather than design to tradition.
And one more note on the decor: "Right" is always best, but "nothing" looks better than "cheap". For example: if you are struggling to come up with a cheaper solution for a centerpiece, remember the right size/scale centerpiece for your 72" table will always look best. But if you can't afford it, no centerpiece will always play better in the arena of "perception" than that $25 version which is too small for the table. Choose wisely, because declining perception value, in the minds of your client, your attendees, your boss or the company executive is not a scale you ever want to be [measured] on.
What does Value mean to you? If you are a Twitter Fan: Join the conversation at #eventprofs, Tuesday July 21 at 9 pm EST. How to Join a Twitter Chat
Now here is a great green product solution for your next meeting or event. At the end of the National Tweetup hosted in Minneapolis tonight, planners distributed coasters made from recycled Target bags (the night's event sponsor).
These coasters were created by zerOwbags - a company which takes waste plastics, "uncycles" them into "Plabric", according to their website. Whether you are in need of a conference bag or unique gift I loved how they took waste plastic bags from Target, stiched them into reusable coasters and, as this was for the National Tweetup event, stiched "Tweet" symbols into the product. There were @ coasters, # and RT versions. How fun for a branded event message with a mission. Check out www.zerobags.com to learn more.
It seems clear. The future of events is in the direction of facilitated attendees experience. As a myriad of Social Media tools in hand with explosions in cell phone technology allows for engagement among attendees at any meeting and conference, I have been struck by a curious idea. Will we reach a point when attendees will be free to choose their own experience for a given learning objective? That is to say, will organizations be willing to create a portfolio of events all with the same objective?
For example: Lets say your organization wants employees to learn about Corporate Social Responsibility and Ethical Business Practices. Based on that learning objective, the event team create a series of learning modules for attendees to choose from. An experiential learner: head to China for a week to visit the factor where widgets are made. A tech-learner: a Web 2.0 environment lets attendees engage in an experience with colleagues from around the globe. A thought leader: Attend the executive summit over the weekend where small group interactive learning is the rule of thumb.
As a side note, there would appear to be value in this idea for cross-organizational learning opportunities. Consider it: the top organizations in the world create learning modules which attendees can pay to attend for continuing education. As an employer, dollars are dedicated for key talent development and those can be spent for a week at Google Camp or as a flavor creator for Ben and Jerry's. For the sponsors of the such learning programs, return is reaped from increased brand affinity and fresh ideas from outside the organization. For the individual learner, the are able to take a Liberal Arts approach to their life-long development choosing the experiences which are best suited to their development needs. Yes, this may be the Disney-ification of education - but for experience based learners is that a bad thing?Thanks to @jaysmet for engaging with me on this converstation.
I like to write. And fortunately for me, editors like my thoughts! :o)
So in a self identified act of shameless RT of my past work, and in an attempt to drive more traffic here to this blog, and because today, I cannot think of anything more to say, and because I like to have all of this in one place and I don't know HTML to code it into my own site, for anyone who finds themselves board or interested, a list of some "good" reading:
Special Events MagazineBridging the Gap - November 2006
The Trouble with ROI - June 2008 ISES Pages
Event Tents Serve as Sacred Spaces, Party Places (Cover) - December 2008
Event Pros Turn to Online Social Networking - December 2008
Cutting Edge Looks in Special Events - January 2009
Event Pros Deliver on Tight Budgets - February 2009
So You Wanna Win an Award - March 2009 ISES Pages
Event Solutions MagazineThe X Factor - April 2007
Gen Y Time - February 2008
It Report - May 2008My First Year In Business - June 2009
This Friday, BeEvents is privileged to be a participant in the 2009 Trend Wedding - a $150,000 Wedding Giveaway to one lucky couple in Minnesota. This year's event is taking place at the swanky Chambers Hotels in DT Minneapolis.
It will be an incredible event. I can't giveaway the secrets yet, but the Invitation alone should tell you. Like any great invite - this one sets the stage for the Trends and Ideas which will be shared at the wedding: a deconstruction, metal, printed acrylic, soft tones of yellow, purple, blue and barely mint!This invite is the creation of the Wedding Guys and the work of A Milestone Paper Company. Check back soon for photos to see what happened at Trend Wedding 2009.
This blog post continues a series of lessons from the field for a new event business. See: Lessons from the Field: Be Open for Business; Lessons from the Field: Focus on Great Strategy; Lessons from the Field: Become an Expert, not a Jack; Lessons from the Field: Find Yourself a Great TeamLesson 5: Know that you will never get it all done. I am a guy who has always worked in small companies. There was a thrill for me in the ability to wear multiple hats in an organization and contribute to the work being done. While, when you go into business with yourself – that experience is taken to the extreme. Every hat is your hat and quickly I had to learn that I just would not get everything done. That the client might have to be called back tomorrow. That the website would take another week or month. That there is no way I can keep up with my tweets, let alone blog! (Ghost writers anyone, I am hiring!) The illusion that leaving the comforts of a 9-5 job is that you will have freedom over your schedule is somewhat true – you do have control of your schedule, but your job is now 24/7 and at a client’s whim your plans will regularly change. The challenge is to find a schedule and rules that work for you (and it you have employees, for them as well). Limiting distractions is critical in keeping focused when you answer to yourself. Because when you are the boss, it is much easier to take long lunch, sleep in or grab drinks early than it was when someone was watching you!
This blog post continues a series of lessons from the field as a new event business. See: Lessons from the Field: Be Open for Business; Lessons from the Field: Focus on Great Strategy; Lessons from the Field: Become an Expert, not a Jack
Lesson 4: Find yourself a Great Team.In my last blog I spoke about become an Expert and not trying to be a Jack-of-all-trades. As an Event Expert surround yourself with other Experts who fill in your weaknesses. This could be as employees or independent contractors, or even more simply as fellow vendors with whom you work. Building a great team of colleagues will support and promote your business as your develop and grow. They will be the partners who make you look good and vice versa. So the task is to surround yourself with great people – for me that means creative, curious, at-their-best, innovative service providers who demonstrate that willingness to think and the appetite to try new things.
And you may just find a funny thing will happen. If you know yourself, remain open to possibilities and deliver great service, your team will do the sales work for you. Indeed, I have yet to really need to sell myself. Through diligent networking locally and internationally, by attending and speaking at conferences, by entering and winning awards, by being an actively engaged member in industry organizations - like ISES, the absolute best spend of money I have ever made – I have developed a great community of colleagues who have kept me in business. By delivering what I promise and offering something unique, one of my biggest surprises has been that the variety of individuals and vendors who I have enjoyed working with on projects continue to bring me along with them to the next one, reinforcing our teamwork and building bigger and better events every time.
Not a newsflash: the economy is (still) in the tank. Projections for 2010 meetings suggest things will be worse before they get better. And as an event designer that initially doesn't sound very fun! With budgets slashed, clients keep coming with the desire to do the same or more for less. They want (or internal bosses are demanding) they demonstrate good value for their spend. And yet, more and more it seems the word "value" is being swapped for "cheap price".
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