Budget Tips: Making More and Spending Less, Part 2

Budget Tips: Making More and Spending Less, Part 2 Bonnie Wallsh Moderated by Tyler Davidson July 25, 2012

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Learning Objectives How to save money by becoming more cost-effective with your food and beverage, entertainment, special events, marketing and sponsorships Obtain resources that will continue helping you save money following our webinar.

Today s Speaker Bonnie Wallsh, MA, CMP, CMM Chief Strategist of Bonnie Wallsh Associates, LLC bwacmp@carolina.rr.com

Solutions For Doing More With Less (Part 2) PRESENTER Bonnie Wallsh, MA, CMP, CMM, Chief Strategist Bonnie Wallsh Associates, LLC Consultant, Educator, Facilitator, Trainer 6328 Red Maple Drive Charlotte, North Carolina 28277 Mobile: 704 491 0921 Email: bwacmp@carolina.rr.com

$$$ $AVING TIP$ KNOW YOUR GROUP Goals and Objectives Meeting Sponsors, Attendees Partnering Sponsors, Exhibitors Budget Profile of Attendees Geographic Location of Attendees HOT Buttons History, History, History Know the Value of Your Business

7 COMMON MISTAKES 1. Allow contingencies for the unexpected 2. Include tax and service charges 3. Include labor costs 4. Communicate clear policies to speakers and staff 5. Review master account daily 6. Rely on history for meal guarantees 7. Know the value of your meeting or event

ENTERTAINMENT Contact local schools for entertainment in exchange for donation Contact entertainers who are in-town for other shows or functions What is potential for entertainers to book additional business at your event? Make your event an experience using all 5 senses (Take care if attendees have allergies to aromas) Be sure that music is licensed by ASCAP or BMI

FOOD & BEVERAGE Work with the chef in developing your menus Piggy-back off other group s events Theme events using ethnic foods that are less costly Chicken marinated in cumin, coriander, and a splash of lime juice can be called Marinated Mexican Spiced Chicken Give grains a try. Replace potatoes and rice with couscous, quinoa, amaranth, or farro Serve light lunches such as salads rather than heavy entrees

GRILLED VEGETABLE PRESENTATION

INTERESTING PRESENTATION

FOOD & BEVERAGE Use lower costs of meat/ protein and use different cooking techniques like braising or slow roasting to both tenderize and add flavor Serve dishes built around cuts or slices of meat and poultry instead of whole pieces Cut down on portions Reduce number of courses at dinner

FOOD & BEVERAGE Use innovative centerpieces such as a Lazy Susan with buffet lunch Take advantage of edible centerpieces to avoid necessity of proving a separate centerpiece Use boxed lunches, if appropriate Design creative, inexpensive centerpieces plants/ alstroemeria (long lasting flowers)/fresh fruit Theme events- check on in-house availability

FOOD & BEVERAGE Use food stations spread throughout the room Serve continental breakfast instead of full American breakfast Negotiate for facility to sponsor breakfast Take advantage of dead wine Serve lunch dessert as afternoon break Place large bowls of popcorn with scoops and bags for guests to serve themselves Trail mix bar Set out bins of dried fruits, granola M&Ms, nuts with scoops and small bags so guests can create their own trail mix Afternoon Smoothies - Use juices left from breakfast to make different flavored smoothies, served in pitchers

FOOD & BEVERAGE Negotiate complimentary receptions Shorten time of receptions Eliminate soft drinks and bottled water Use opened bottles of liquor and wine for hospitality or VIP suite Create a signature drink for your reception Use butler service instead of buffet tables

ALTERNATIVE TO BOTTLED WATER

FOOD & BEVERAGE People drink less at cash bars Instead of a single plated dessert, consider placing a plate of small desserts in the center of each table Order by consumption not per person Know the menus in room service, restaurants, and banquet prices. Use the best price for your group Consider scheduling your function in a restaurant rather than a meeting room If you are faced with F&B attrition, enhance your meal functions or provide bags with breakfast pastry and fruit upon checkout

CREATIVELY DEVELOPING MENUS Re Constructed salad sponsored by FEDEX at PCMA Make your own salad Ingredients: 1 slice of Texas vine ripened beef steak tomato 1 Dallas made crème fraiche burrata 1 basil leaf 3 baby yellow pear tomatoes 1 pinch micro greens 1 pesto croustade To taste Red Hawaiian sea salt To taste cracked black peppercorns 1 spoon aged Balsamic vinegar 1 spoon roasted garlic basil oil

CREATIVELY DEVELOPING MENUS Place tomato on plate Top with fresh basil leaf Place Burrata cheese on top of tomato and basil leaf Place pesto croustade up against Burrata cheese Add yellow pear tomatoes to plate as garnish Add pinch of micro greens to top Add pinch of sea salt to taste Add pinch of black peppercorn to taste Top with 1 spoonful of roasted garlic basil oil Finish with 1 spoonful of Balsamic vinegar Share your great salad that you made with neighbor

ANYTHING BUT ORDINARY PALINDROME LUNCH SPONSORED BY Tampa Bay Area Chapter MPI at 2010 SEC Salad Fresh spinach salad with raspberries, bleu cheese, Vidalia onion Vinaigrette Entrée Grilled Churasco steak Fresh summer Succotash salad Dessert House made shortcake, peaches, mint, and sour cream Entrée Roasted coconut curry Wahoo, pepper, and onions Salad Shaved fennel, citrus and radish salad, olive oil, salt, and peppers

FOOD TRUCKS

FOOD TRUCK

Marketing Take advantage of using Convention & Visitors Bureaus (CVBs) and Tourist Offices Use destination s local media contacts to get coverage for your event Use social media effectively Partner with sponsors and exhibitors to increase attendance; offer incentive for them to reach out to untapped audience Communicate value of Face to Face participation to attendees Begin marketing on-site for future meetings and events, offering reduced rates and providing attendees 30 days for payment

SPONSORSHIP Sponsorship of meal functions Serve dessert near sponsor s booth if trade show follows lunch Design menu to reflect sponsor s brand Sponsorship of speakers How can YOU help sponsors communicate their brand?

What are 3 things that you have learned from this session? 1. 2. 3. What will you do differently when you prepare your next meeting or event?

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Questions? Bonnie Wallsh, MA, CMP, CMM Chief Strategist of Bonnie Wallsh Associates, LLC Consultant, Educator, Facilitator, Trainer bwacmp@carolina.rr.com Tyler Davidson Chief Content Director Meetings Focus Tyler.davidson@meetingsfocus.com

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