It pays to be fast – what speed means in event planning

Speed is of the essence everywhere in the event industry. This starts with tenders and extends to the booking process. Read this article to find out what you should bear in mind to be among the fastest ...

According to a recent study Cvent Planner Sourcing Report 2023, event customers expect a quick turnaround on RFPs: 36% want a response within 48 hours. This could make the difference between an event planner booking a venue or looking elsewhere.

Furthermore, cost (27%), location (24%) and date availability (21%) are the main factors influencing the decision in favour of a venue.

You can find the full report here.

The expansion of revenue management to MICE and the digital transformation in MICE are helping to meet these requirements.

Getting started – 5 first steps:

  1. Analyse your current enquiry and contract process.

  2. Identify the system breaks in the individual sub-processes, i.e. where is manual intervention required and why?

  3. Define a target process for your enquiry and contract management.

  4. Business drives IT – Which systems can support the process for your enquiry and contract management? Am I utilising all the possibilities of my S&C system?

  5. Establish key figures that go beyond RevPAR & Co. and take into account the performance of the event space.

    I would be happy to advise and support you with the implementation.

Birgit Haake - Expertin Revenue Management

Author: Birgit Haake

Birgit Haake has more than 25 years of practical experience in the hospitality industry and healthcare. With her company Haake Revenue4U, she supports individual hotels and hotel chains in Germany and Europe as an expert in revenue management. Her core competencies are booking management, (MICE) revenue management, pricing and online distribution. Birgit Haake holds a degree in business administration and has completed her training as a hotel manager. She is a certified trainer and has been a university lecturer in international hotel management and tourism management for many years.

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