Event Planning: Venue Selection

• Site selection and venue management seeks to reassure clients that the event team is professional and competent.
• Organizers need to know the destination and venue can meet their needs and exceed attendee expectations.

Factors Influencing Venue Selection

• Range and availability of accommodation options matters
• Consider the type, range, and availability of convention, meeting, and exhibition space available
• Evaluate the convenience of the location
• Consider the cost of traveling to the destination
• Look at the city or destination's image and drawing power
• Check the availability of recreational and entertainment activities
• Evaluate available transport and infrastructure

Additional Considerations for Venue Selection

• Size of the group attending
• Characteristics of the organizing entity
• Timing, season, and climate during the event
• Timing relative to holiday periods

Important Venue Selection Considerations

• Sustainability practices via environmental initiatives and waste minimization
• Accessibility features for attendees with disabilities
• Understanding local regulations that might impact event planning
• Social and economic impact on the local area

Venue Evaluation Criteria

• Number, size, and quality of meeting rooms available
• Flexibility of food and beverage options as well as room rates
• Number, size, and quality of accommodation stock
• Quality of food and beverage services

Negotiation & Contracts

• "Negotiation and contracts" is about discussing and finalizing legally binding agreements with vendors.
• Agreements with venues, caterers, transportation, etc., to secure terms for a planned event.
• Ensure all parties understand their responsibilities throughout the planning process

Negotiation Key Aspects

• Event planners negotiate with venues, caterers, AV companies, transport, speakers, sponsors, and attendees.

Negotiation Focus Areas

• Negotiate best pricing for venue rental, catering, services, and other elements.
• Contract Terms: cancellation policies, payment schedules, capacity limits, event dates, times, and penalties.
• Clarify included services and what additional costs might apply.
• Flexibility clauses: add provisions for changes in event details or numbers.

Contract Structure

• Overview: Details about the event, parties, dates, and location.
• Services outlines: Specific list of services and deliverables.
• Payment terms: Deposit schedule and final payment details.
• Force Majeure outlines: Provisions for situations beyond control (natural disasters).
• Dispute resolution: Process for handling disagreements or conflicts.

Budgeting & Financing

• Budgeting and Planning is the process of creating and managing a financial plan.
• Budgeting applies to meetings, incentives, conferences and exhibitions events.
• Includes identifying revenue sources, allocating funds, and cost control.

Budgeting Process

• Initial planning: Estimate revenue and identify cost drivers based on event scope and objectives.
• Detailed breakdown: Breaking down the budget into categories and amounts for each expense.
• Cost analysis: Negotiating with vendors and comparing prices.
• Contingency planning: Allocating a buffer for unforeseen expenses.

Important MICE Budgeting Considerations

• Scalability: Adjust the budget based on the anticipated attendee numbers.
• Flexibility: Allow adjustments as event planning progresses.
• Payment terms: Negotiate favorable payment terms.
• Risk mitigation: Identify potential financial risks and implement strategies.

MICE Revenue Streams

• Registration fees from attendee tickets.
• Exhibitor booth rentals.
• Sponsorship packages offer tiers of visibility through event branding.
• Networking events.
• Workshops.
• Ancillary services, like catering and venue rentals.

Types of MICE Sponsorships

• Keynote speaker sponsorship
• Networking event sponsorship
• Refreshment break sponsorship
• Exhibition booth sponsorship
• Award ceremony sponsorship
• Content sponsorship

MICE Marketing

• MICE Marketing involves strategies to reach the target audience and generate interest.
• Involves highlighting the events unique features, location, speakers, and networking opportunities.
• Involves leveraging online platforms like social media, dedicated websites, and publications.

Key Marketing Elements

• Target Audience Identification: Define the specific audience to tailor messaging.
• Branding and Messaging: Develop a strong event logo, tagline, and visual identity.
• Dedicated Event Website: Create an informative website with all details.

MICE Promotional Strategies

• Social Media Marketing: Use platforms like LinkedIn, Twitter, Facebook, and Instagram.
• Email Marketing: Send targeted email campaigns with full event details.
• Content Marketing: Create valuable blog posts, articles, and videos to showcase value to attendees.
• Public Relations: Issue to press releases to relevant media outlets.

Sustainable Practices

• Focus on minimizing environmental impact through waste reduction and energy-efficient venues.
• Incorporate local communities.
• Tech advancements create engaging and impactful events.

Sustainable MICE

• Venue Selection: Prioritize venues with eco-friendly certifications and renewable energy sources.
• Food & Beverage: Source local produce, reduce food waste, and use reusable catering.
• Transportation: promote public transport, cycling, walking, and low-emission options.
• Waste Management: Implement recycling, minimize single-use plastics, and donate materials.
• Carbon Offsetting: Calculate the event's footprint and emissions.

Trends in MICE Sustainability

• Hybrid Events: Combine in-person and virtual, reduce travel while reaching a wider audience.
• Virtual Reality (VR) / Augmented Reality (AR): Utilize to create virtual experiences and reduce travel.
• Data-Driven Decision Making: Use analytics optimize event planning, identify areas sustainability.
• Community Engagement: Incorporate local businesses, artisans, and the local economy.
• Circular Economy Practices: Reusing event materials, repurposing decorations, and design.

Benefits of sustainable practices

• Positive Brand Image: Demonstrating a commitment to responsibility can enhance a company's reputation.
• Cost Savings: Implementing sustainability practices often lead to cost reductions.
• Attract Responsible Attendees: Sustainability-conscious will choose events environmental practices.
• Regulatory Compliance: Following regulations regarding environmental impact can be crucial.