As the MICE industry continues to face rising costs and contract complexities, negotiation can often feel impossible for planners in what is currently a supplier's market.  On September 24th, we hosted a GDP U webinar, "How to Negotiate in an Age of Non-Negotiation", featuring a panel of experts including hotel representatives, event planners, DMC professionals, and AV providers. Together, they explored the most pressing challenges—rising costs, inflexible terms, and shorter lead times—while offering actionable strategies to help planners foster stronger partnerships with suppliers and secure even better deals.

^{Interested in viewing the full on-demand video of this webinar for more ideas?  Log in to GDP University, and find the full video, "Sustainable Event Planning & Ideas from Around the World", on our Courses page.}

Here's a quick summary of the main takeaways from our panelists: 

• Transparency: Share contract clauses and potential costs upfront to prevent surprises. Outlining savings and added value helps procurement teams understand the full picture and speeds up approval processes.
• Leveraging partnerships: DMCs bring local expertise, knowing how to negotiate better rates and provide creative solutions by bridging gaps between clients and venues/vendors.
• Customization: Hotels can create tailored F&B menus that align with your budget while delivering a unique experience, making it easier to negotiate costs without compromising quality.
• Learn how big-box AV companies are structured: AV companies typically operate under three pillars, understanding this structure can help planners negotiate effectively, focusing on what is needed and avoiding unnecessary expenses:
  • Large-scale production: For bigger events, these providers must often outsource equipment, leading to higher costs. 
  • Day-to-day services: These include standard setups like projectors, screens, and microphones, which cover the bulk of everyday meetings.
  • Power and rigging provider: This is often an in-house exclusive service that venues require to ensure proper safety standards and liability coverage.
• Engaging early: Lock in rates early, especially with hotels and AV providers, before price hikes, securing the best deal and availability.
• Site inspections: Conduct a site visit with AV and DMC experts before signing contracts to align expectations and identify potential cost-saving opportunities.
• Communication: Don’t be afraid to ask questions and make sure to pick up the phone to negotiate!

Interested in viewing the full on-demand video of this webinar for more insights and resources?  Log in to GDP University, and find the full video, "How to Negotiate in an Age of Non-Negotiation", on our Courses page.

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