From fax to real-time communication, Michael Begley, CEO of
venuedirectory.com takes us through the evolution of the RFP...
The RFP is
really the linchpin in the relationship between planners and potential suppliers
and is often considered the cornerstone to improving the venue sourcing process
and maximising ROI. However, the RFP hasn’t always been so impactful. It used
to be a fairly minimal process whereby planners selected venues and requested
basic information – about capacity, parking, facilities – and usually via email - or, looking back to my early days in the industry, even fax. That was far
from straightforward and often resulted in long email threads containing
spreadsheets and word documents. An arduous and time‐consuming way to source
event venues, I’m sure you’ll agree!
Integrated RFP
– benefits to both buyer & supplier
Digitally
integrated solutions are now available which deliver significant benefits for
both planner and venue. Planners – whether they are working for agencies, corporates or independent ‐ can now easily search for venues, enquire,
book, track, invoice, report and make commission claims – all in one place.
Access to real‐time availability ensures the process is easy and efficient and
real transparency to the whole process. Put simply, if a venue inputs a price
and a description, this is what the buyer will see mere moments later.
Michael Begley Likewise,
many venues, from worldwide hotel groups to dedicated venues, can benefit from
the digital integration on offer. They can easily track and manage enquiries,
benefit from the wider distribution platform and – ultimately – convert more
business. Venues can process enquiries
without
duplicating the information across multiple systems. This frees up a large
amount of time and allows venues to dedicate resources in a much more
meaningful way.
Buyer
questions around inclusivity, accessibility & sustainability
What’s
more, the RFP now encompasses a greater level of detail that can be passed
between the buyer and supplier. The process now includes a breakdown of
charges, the categories they sit in as well as the price along with any
commissions or enhancements that might be included. Alongside this we’re now
seeing more questions around inclusivity, accessibility and sustainability as
these issues move higher up the agenda. These questions encompass many elements
ranging from modern slavery, gender neutral toilets, to recycling practices
among others.
The level
of data is now so comprehensive that planners no longer need to spend time on
questions around basic details, allowing them to focus on the specificities
needed within the proposal. I’ve seen questions around sustainability crop up
with increasing frequency and, as we journey to the Net Zero goal in 2050, I
only expect this frequency to increase. However, I have my doubts as to whether
planet‐friendly practices really
influence the buying process. In my experience, location and price,
particularly as the economic downturn starts to bite, remain the key
considerations. My hope is that sustainability moves beyond being a mere tick
box exercise and becomes a much more fundamental and significant part of the
decision process. When that happens we’ll see the RFP process evolve once
again, no doubt.
‘Great events
begin with a great RFP’
An
RFP can give planners immense strategic and tactical value. Investing time in
the RFP process can deliver major benefits that improve the overall quality of
event. It also helps to set the tone and aids in creating transparency so both
parties are aware of expectations. In short, great events begin with a great
RFP.
A desire to travel led Holly Patrick to the business meetings and events world and she’s never looked back. Holly takes a particular interest in event sustainability and creating a diverse and inclusive industry. When she’s not working, she can be found rolling skating along Brighton seafront listening to an eclectic playlist, featuring the likes of Patti Smith, Sean Paul, and Arooj Aftab.
