We hear it over and over again… Hard times… Cutbacks… Spending and travel reductions…

Many executives and customer representatives are no longer allowed to attend events that could be construed as frivolous, a conflict of interest, have limited sales or marketing value to the company, or could influence purchasing decisions. Some companies are deciding to eliminate all major events, such as sponsorships or tickets to major sporting events, or client gatherings at high-end resorts that might “include” activities like golf or spa treatments. Those days are over. And that’s probably a good thing!

However, sometimes it seems that the pendulum may have swung too far in the other direction. Have you been told to cancel your user group meeting this year? No more client meetings? Say goodbye to VIP meetings? But can you really afford to cut out all face-to-face interaction with customers and prospects, and waste the momentum and goodwill you’ve so carefully built up over the years? Your customers remain interested in the future of your company. They still want the attention of their executives and get the inside scoop on new products and updates. Going too far in trying to cut costs could also reduce potential sales and relationships.

There are ways to get around the problem, work within a reasonable budget, keep your customers happy, and maybe even become a hero in the deal! The key is to take a new look at the business meeting, breaking with past traditions and examining the reason for the meetings, the needs, the goals and the budget, and then finding new and creative ways to achieve those goals.

There are four important steps to making business meetings work when money and appearances are under scrutiny:

1 – Understand the budget: yours and your attendees’
2 – Location, Location, Location – Find Innovative, New, Less Expensive But Interesting Locations
3 – Collaborate with your business partners: what can you do together?
4 – Provide real value to your attendees: that’s why they come

1. Know the budget

You know how much was spent on your company’s meetings and events in the past. But what is the budget today? Even when top management is making deep cuts, your budget probably isn’t down to zero! Find out how much you have to work on for the year and make sure your senior management agrees with the final budget figure.

Next, be sure to document any restrictions, requirements, or other limitations that may influence your planning decisions. For example, is there any kind of place that you are not allowed to use? Is there a limit on travel expenses? Dig deeper to learn the actual parameters of your event budget, so you can make sure you do everything within those guidelines.

2. “B” is for Boutique: Get creative in selecting cities

Now take the really innovative step and choose what I like to call a “B” city. Goal “B” is for the store NOT for the second rate. We have all been and are used to the “A” list/top tier city for our meetings: New York, Chicago, Las Vegas or San Francisco to name a few. But these cities, due to their extreme popularity, are more expensive to go and hold events. These are cities that, in today’s reality, can be punished for spending more money than is really necessary. So look out for the “new” city options for your meeting. For example, choose a city like Anchorage, Kansas City, Nashville, Sacramento, St. Louis, Tampa/St. Petersburg or similar. You will find that the price is much more competitive, there are many things to do, many places, great hotels and great places to eat. Happy about this type of corporate business and wanting their city to “impress,” I find that these “boutique” cities generally go “beyond” the call of duty to get and keep your business.

They are more likely to cater to your needs, offer you better hotel rates, and tend to be really friendly and make you feel loved, which will ultimately lead to a more impressive meeting. Research airfares in various cities within a region; you will find that there are big differences in costs. Look at some of the smaller airlines or partners of your preferred airline; many of them fly to the smaller cities. And, many of the “Boutique” cities often have lower airfares, especially during the off-season, allowing your attendees’ dollar to go much further. Once you have chosen your target city; do some more research on local history, entertainment, the arts, and the like; if you’re creative, you’ll find some great venues for events and dinners or off-site activities. And, your attendees will probably be pleasantly surprised to find out how many cool things there are to do and see before or after the event and on nights in a city they haven’t visited yet (but maybe always wanted to).

But while you’re innovative in your venue selection, don’t forget there are two budgets to consider here: your company’s budget AND your attendees’ budget for travel expenses. As you consider all available options, choose a hotel that is appropriate for your meeting needs and fits your attendees’ budgets; make sure it doesn’t seem “overdone”. In this way, you help your attendees to justify their attendance at the meeting: they are under the same limitations as you! Remember that appearance is reality: even if you were to negotiate a comparable nightly rate for a high-end resort as for a good hotel, management will assume that the resort is more expensive and may not approve of the expense.

3. More for your money

Suppose you are accused of holding an annual user group in a major city: San Francisco, New York, Chicago, Las Vegas… If your customer base is spread across the US? These can be in places that are easy for clients to attend, without the high travel costs normally associated with their attendance. If your clients are clustered on the East and West coasts, consider having a meeting on each coast.

Or, join partners by offering sponsorships at various levels, which basically allows you to co-host the meeting or event. You might consider trying to link multiple events in a city, such as internal sales or departmental meetings with customer events; in this way, you can kill many birds with one stone. Take advantage of having your customers and key executives in one place at the same time. By combining meetings, members will notice that you’re being budget-conscious, both for them and for you, but still making both meetings successful. Other items to consider from a budget standpoint are hotel rates. Hotels will often offer discounted rates if you have a larger block of rooms, this can be achieved by combining two meetings. Don’t forget that everyone is saving on airfare too!

4. Content is king

Customers are only willing to attend a meeting today if the meeting is rich in content. Make their time count and don’t let them walk away feeling like it was a waste of time. Spend time internally collecting the type and depth of information that matters most to your customers, clients, or prospects. If necessary, bring planning resources: perhaps a strategist who can interview a sample of your clients to find out which issues matter most.

When clients leave at the end of a meeting, it’s not the beautiful venue or the expensive meals that they’ll remember. It is the knowledge they will have gained through your carefully constructed program, excellent materials, expert speakers, and real face-to-face time with your executives and experts that will deliver lasting value.

There are many ways to keep your company’s most important meetings going and still get top-notch results. Think NEW – Think CREATIVE – Think INTERESTING – Think DIFFERENT – Don’t miss today’s golden opportunities for you and your company.