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<p>What’s better than one stellar meeting? Two stellar meetings, combined. Specifically, two or more organizations combining meetings to share resources. Called colocating, this practice helps maximize budget and can lead to intriguing collaborations.</p>
<p>Take it from your peer-experts. Business Events Industry Week 2024 is a colocated event that’s powered by PCMA and Destinations International, in partnership with Destination DC, Events DC, IAEE, ICCA, and the National Coalition of Black Meeting Professionals, and destination organizations. The 2023 event, which took place at Gaylord National Resort &amp; Convention Center in Maryland, saw nearly 2,000 participants gather—a number made achievable by joining forces.</p>
<p>“Based on what participants for Business Events Industry Week were looking for, based on who our target audience is, it’s a great example of how colocated events can become very, very successful,” says Junior Tauvaa, chief business officer at PCMA. Read on to learn more about how colocation can further your goals—and how to do it right.</p>

<h2><strong>What Are the Benefits of Colocation?</strong></h2>
<p>The number one consideration for your events—the attendee—comes out ahead with colocation. Participants can register for an event through one organization but have access to programming and networking opportunities from groups that are separate from but complementary to their “home” organization. This grants them the benefits of attending multiple events, but in an efficient, realistic manner.</p>
<p>“We’re time-deficient as a society,” Tauvaa says. “Attendees vote with their time. Having these colocated events makes sense for everyone. There’s only so much time you can take out of the office, so it’s a big, big plus for our community to offer this to attendees from a time perspective.”</p>
<p>It’s also a plus for you, your organization, and any exhibitors you have. By expanding your event to include partnerships with other groups, organizations can save on spend while maximizing resources—critical in an era when events divisions at large organizations are still regrouping after the tumult of the pandemic and may be short on personnel.</p>
<p>“For most event organizers, their biggest challenges are lack of budget and lack of time, and most planners are handling multiple events,” Tauvaa says. “Having these events be colocated together takes into account these challenges and makes it easier for organizers.”</p>
<p>Exhibitors may also appreciate the chance to be in front of a fresh audience. As for host organizations’ business development departments, they can use a colocated event as an opportunity to test the waters for future joint ventures.</p>

“Look at the experience you’re trying to create, and make it easy for everyone to see how they can meet their objectives at the event. You can capitalize on the energy of each other.”

<h2><strong>Three Tips for Success in Colocating an Event</strong></h2>
<p>“There’s always an opportunity for organizations to colocate if there’s a similar value proposition,” Tauvaa says. “The challenging part is for these organizations to come together and identify gaps without stepping on each other’s toes.” Here are some principles to help you do exactly that:</p>
<p>● <strong>Know what you want to accomplish. </strong>What are your educational goals? What are your networking goals? Revenue goals? What sort of business connections do you hope to make? Going into discussions with your potential cohosts with an idea of what you want to accomplish will help ensure that your goals will be met while identifying synergies that work for all host organizations. It will also help you make sure that you’re able to build the best case for bringing in the vendors and sponsors who underwrite the event.</p>
<p>● <strong>Let the attendee guide everything you do.</strong> “Every organization that’s participating will concentrate on what they want to accomplish,” Tauvaa says. “The key is to understand what the participant experience will be.” For example, as you begin to assemble programming, identify events that compete with one another for similar attendees and find ways for them to avoid missing out. Use participant-first logic at every stage of planning. Business Events Industry Week, for example, used a singular registration platform for its 2023 event. Easy for logistics, but difficult for handling responses. This year, organizers opted to have each participating organization handle its own registration—ultimately putting attendees’ needs first.</p>
<p>● <strong>Communicate, communicate, communicate. </strong>In theory, a colocated meeting saves all planners time and resources. But unless you’re diligent about regular communication, it’s easy for the opposite to happen—duplicated efforts, important items falling through the cracks. For Business Events Industry Week, all industry organizations met regularly to ensure everything was on track at all points on the journey, from concepting to programming to branding to registration. The size of the event meant that there was a planner dedicated to coordinating across all groups. That might not be necessary for your meeting, but designating a person to be the keeper of liaising may be helpful.</p>
<p>The first time you plan a colocated event, you might feel dizzy—meeting planners are used to shouldering a lot of work, and working with colleagues at different organizations can both ease and complicate the process. But by keeping your eyes on the attendee experience, you’re setting all host organizations up for success.</p>
<p>“Look at the experience you’re trying to create, and make it easy for everyone to see how they can meet their objectives at the event,” Tauvaa says. “You can capitalize on the energy of each other.”</p>

Global

Teaming Up With Other Organizations? Keep Participants’ Needs First in Mind.

The Ultimate Collaboration: Colocate Your Next Meeting

Educate

<h3>Learn the ins and outs of attrition clauses to help take your event planning skills a step beyond. Discover how they work to help give you a degree of protection and awareness ahead of time. Plus, plan effectively with the flexibility to change rooms and food and beverage spend within a certain point without liability.</h3>
<h3><a target="_blank" href="https://youtu.be/roFnoWaaq7w">Watch Now</a></h3>

View our video series and understand how attrition clauses help keep your event flexible.

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<h3>Learn how sliding scales create a more flexible cancellation policy and how they’re beneficial to you when you’re booking your next event. Plus, discover the ways they can be customized to best suit the needs of your event.</h3>
<h3><a target="_blank" href="https://youtu.be/7fPZmOTuUMc">Watch Now</a></h3>

View our video series and learn the benefits when booking your event.

Stay Flexible With Sliding Scale Clauses

<h3>From mitigating risks to providing flexibility, understand the benefits of event cancellation clauses and see the ways each contract can be tailored to your event. Discover how to collaborate with your hotel venue to protect both parties.</h3>
<h3><a target="_blank" href="https://youtu.be/02VDdTmKC9U">Watch Now</a></h3>

View our video series and learn how to reach win-win event cancellation agreements.

Stay Protected with Cancellation Clauses

Celebrate

<p>If you’re like <a target="_blank" href="https://globaldmcpartners.com/sites/default/files/media/files/GDPPulseSurvey2022Q4/2022_GDP%20Q4%20Pulse%20Survey%20Summary%20Report.pdf">45% of meeting planners</a>, you’re working with a flat budget from last year—or a smaller one—but are being asked to produce the same quality of event. One area you might be loath to touch is your audiovisual budget. With good reason: Poor sound or visual quality can make even the most brilliant programming feel dull.</p>
<p>But that doesn’t mean you can’t dig deep to find savings. Read on for three ways to make the most of your A/V budget.</p>

<h3><strong>Plan ahead.</strong></h3>
<p>Starting early is hardly a groundbreaking tip for professional meeting planners. But particularly for tech-shy meeting planners, it’s easy to keep your A/V needs vague until the last minute or to trust that if there’s sound and screens, it’s all good.</p>
<p>That leaves money on the table. When you account for your needs well in advance, you’re better able to <a target="_blank" href="https://marriottbonvoyevents.com/news-and-highlights/article/481/five-tips-for-better-communication-with-your-tech-team">communicate with your tech team</a>, which can then rightsize your equipment and staffing needs. Start by knowing your priorities so you’ll understand when you truly need top-of-the-line equipment and when any old speaker will do, helping you avoid the trap of panicking and splurging on high-end equipment where it’s not necessary. Plus, you’ll avoid stressing out your tech team with last-minute requests, which may make them more willing to work with you on figuring out how to get the best value for your budget.</p>
<h3><strong>Schedule your sessions wisely.</strong></h3>
<p>Beginning and ending the day with a plenary session makes a certain sort of sense—get attendees jazzed up for the day’s events, then bring them together to seal in all they’ve absorbed. Trouble is, that can be pricey.</p>
<p>“One of the biggest money-wasters is the general session sandwich,” says <a target="_blank" href="https://www.brandtkrueger.com/">Brandt Krueger</a>, a veteran production manager in the meetings and events industry. “You know, you get the 12 people for the crew to come in and do the general session first thing in the morning, and then they sit around all day because you’re doing breakouts, and then they have to come back at four o’clock for a one-hour closing general session. So now you’ve got a full 12-person crew on all day.”</p>
<p>Opening up the day’s end for other types of events not only releases your A/V crew early, it can also provide more breathing room for attendees. Small-group networking, off-sites, or even an early release can be a budget-saving, attendee-friendly option.</p>
<h3><strong>Know exactly what you’re getting.</strong></h3>
<p>The price tag is one thing; the value you’re getting is another. If you’re working with an independent A/V provider, they may offer services that you might be searching for elsewhere—or already paying your venue for—such as stage management and visual design. If you’re working with your venue’s A/V team, your payment may include things like Wi-Fi. But without examining your contract and asking questions, you could wind up double-paying or missing an opportunity to bundle services.</p>

Rule #1 Goes Beyond A/V, Too.

Three Ways to Rescue Your A/V Budget

<p>Nearly half of meeting planners <a target="_blank" href="https://globaldmcpartners.com/sites/default/files/media/files/GDPPulseSurvey2022Q4/2022_GDP%20Q4%20Pulse%20Survey%20Summary%20Report.pdf">surveyed by Global DMC Partners</a> say that their budgets have recently increased, but 70% list higher costs as one of their top challenges. While inflation and rising costs are on everyone's mind these days, getting imaginative to meet a tight budget is where meeting planners shine.</p>
<p>With a little creativity, you can deploy one of your superskills to trim the fat from your budget: scheduling. Here are three ways that smart scheduling can help you meet your budgetary goals.</p>

<h3><strong>Go for a Monday Start</strong></h3>
<p>You probably know that midweek meetings can add value to your budget compared with meetings that overlap a weekend. But there’s one exception: By starting your meeting on a Monday, necessitating Sunday travel for attendees, you can get the best rates of all. (Sundays are usually the lowest-booked day for hotels, resulting in lower rates.)</p>
<p>Historically, Monday meetings haven’t been popular among planners for the very reason that they’re low-cost—people don’t like to travel for business on a weekend. But that attitude might be outdated. Organizations across the board are struggling with budgets, so delegates may be more willing to travel on a weekend to meet their own event spend. Plus, with 89% of business travelers saying they want to add leisure time onto business trips <a target="_blank" href="https://www.ahla.com/sites/default/files/AHLA%20SOTI%20Report%202022%201.24.22.pdf">according to the American Hotel &amp; Lodging Association</a>, Sundays might even be desirable.</p>
<p><br></p>
<h3><strong>Rotate Locations Wisely</strong></h3>
<p>Going to destinations off-season can save you money, but delegates of annual conventions might wise up to this tactic. Consider booking destinations for your less significant events off-season (Colorado in summer, Boston in winter), with milestone meetings held in peak season—or, as a close alternative, shoulder season. Splashing out flagship meetings such as organizational or event anniversaries (“Tenth Annual Convention”) can be as simple as hosting it in a prime destination; it doesn’t necessarily mean you have to spend big in other areas. Simply by being at a desirable destination at the most desirable time of year, the event becomes more memorable.</p>
<p><br></p>
<h3><strong>Consider Multiyear Meeting Agreements</strong></h3>
<p>Why schedule four meetings four times when you can schedule all four at once? When you work with a venue on a <a target="_blank" href="https://marriottbonvoyevents.com/news-and-highlights/article/361/three-big-reasons-to-consider-a-multiyear-agreement">multiyear meeting agreement</a>, not only do you get the peace of mind of having secured venue space, you’re also likelier to get a better deal by having locked in a desirable rate. Plus, as your relationship with the venue matures year over year, the venue will better understand your needs, which can lead to better value overall.</p>

Cost-Cutting Isn’t Just About What You Buy. It’s About When You Buy.

Smart Scheduling Can Rescue Your Budget

<p>Any savvy shopper knows that there’s a difference between price and value. There are ways for meeting planners to negotiate the best price on a venue, but it’s equally important to know how to determine the true value of a venue during the discovery phase. When speaking with potential venues for your next event, it helps to be armed with questions that allow you to dig deeper.</p>
<p>“It’s really important to ask a few things in the sourcing time period,” says Kara Dao, COO at <a target="_blank" href="https://jdc-events.com/">JDC Events</a>. “Properties want to disclose as much as possible to a planner, so ask it all directly.”</p>
<p>There are questions that give you the core parameters of a venue (cost, capacity, facilities, etc.), but the goal of the preliminary questions below is to uncover what might not be shared up-front. This doesn’t mean trying to extract inappropriate value from venues or to drive down the price of their services. Instead, it’s about asking the questions that will give you the full picture so you know everything that the venue has to offer.</p>
<p>Consider these five questions to get more value from venues.</p>
<h3><strong>Value-Driving Question #1: “Can You Explain the Specifics of Your Accessibility Efforts?”</strong></h3>
<p>You want your event to be enjoyable and available to all who attend. To that end, ask the venue how it accommodates people with physical limitations. Expect to get information on features such as ramps, elevators, automatic doors, wheelchair entrances, ADA-compliant restrooms, handicap parking, and on-hand staff to help attendees. Then, you can share this information with attendees before the event so that they’re prepared.</p>
<p>Another question to ask in terms of accessibility: “Are there any renovations happening currently?” You could find that certain accommodations are temporarily unavailable or that accessible entrances are affected.</p>
<h3><strong>Value-Driving Question #2: “How Many Other Groups Are You Hosting at the Same Time as My Group?”</strong></h3>
<p>Dao points out the importance of knowing what level of support you’ll be getting from the venue’s staff and how that might impact your event. That way, you’ll know that on-site staff will be there to help manage registrations, monitor service quality, assist if any problems arise, and support breakout sessions or other activities.</p>
<p>“What you really want to know is, ‘Who else am I competing with for those individuals’ attention? And what’s the impact of that?’” Dao says.</p>
<h3><strong>Value-Driving Question #3: “What Additional Fees Will I Be Charged?”</strong></h3>
<p>In some cases, Dao says, add-on fees have increased since the pandemic due to additional costs of keeping venues safe, and meeting planners need to be aware of them. Dao recommends being direct when asking this question, assuring venues that they won’t be eliminated as a choice out of hand because of add-on fees, but making it clear that you need to know so you can plan your budget accordingly.</p>
<h3><strong>Value-Driving Question #4: “What Can This Venue Offer That Nobody Else in Your Area Can?”</strong></h3>
<p>Of course you want your event to be special, so ask venues what makes them special. Venues will be eager to talk about their unique services that make them stand out above the rest.</p>
<h3><strong>Value-Driving Question #5: “What’s the Realistic Comfortable Capacity in Your Meeting Spaces?”</strong></h3>
<p>There’ll be a maximum capacity listed, but getting clarification on what the venue recommends could help you make attendees comfortable.</p>
<p>“Venues often want to present a large number but are not compensating for things such as a large space for AV to set up or an expanded stage or social distancing,” Dao says. “Diving into what those numbers actually look like in implementation is important.”</p>

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