From trade shows to corporate retreats to brand activations, events are one of the most effective ways to move business forward. In fact, 60% of executives say that in-person events are the most important channel to achieve company objectives. Events bring ideas and brands to life, and to plan and execute them correctly, you need an expert at the helm. If you’re worried that you have to add an entire events department to your payroll in order to get into the game, think again. Outsourcing your event planning and execution is a smart, savvy way to ensure you’re spending your money in the right places. Here are three reasons that outsourcing event management can help improve your bottom line. • Stick to what you know. You’re an expert in your field, and your customers come to you because you know what you’re doing. The same goes for meetings and events; planning and executing an event requires its own unique set of skills, which might be very different from the ones you use in your day-to-day operations. Put simply, if events aren’t your business, you don’t need to make them your business. “With the complexity of organizing a global event of this scale, we needed someone with specialized expertise in event planning and management,” says Dennis Toomey, director of risk and compliance analytics at Protiviti. Dennis hired GloCliff Event Management to run the 2023 Global Insurance Fraud Summit. “Clare’s in-depth knowledge of logistics, venue selection, vendor coordination, and budget management was crucial in ensuring a smooth and successful summit.”
• Save on employee overhead. Hiring permanent employees can be quite costly, and there’s no sense in keeping someone on the payroll year-round if you only need their services for a limited period of time. In addition to augmenting your salary budget, hiring permanent staff also means you have to pay social security, taxes, health insurance, and other hidden costs — not to mention paid vacation, personal, and sick days. “Meeting planning and event arrangements are not really in our mission or strategic purpose, so we aren’t going to bring a person on staff that is directly knowledgeable in the field of event planning, hotel arrangements, etc,” says Matthew J. Smith, Esq., executive director of the Coalition Against Insurance Fraud. Outsourcing to GloCliff Event Management enabled Matthew to reap (not pay!) the benefits of decades of experience when his organization needed it while keeping overhead costs to a minimum. • Achieve economies of scale. Meeting planning involves a wide array of vendors, from interior designers to transportation providers to shipping companies to entertainers. An experienced professional meeting planner has these relationships at their fingertips, They often have long- standing relationships with the right people and know exactly who to go to for the best service at the most reasonable price. “From a business standpoint, the rationale for going out-of-house for events is that you can take advantage of economies of scale,” says Sarah Terrelonge, chief marketing officer of Clearspeed. And although they are not part of your permanent staff, great meeting and event management professionals are committed to mutual success.”Clare feels like an extension of the team, not a third party,” Sarah adds. “ I feel like I get to have my cake and eat it, too. She’s just so good at what she does.”
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