Valued partnerships with industry suppliers are a hallmark of the financial and insurance meeting planning niche. Now, in the midst of a global recession, shrinking staffs, slashed budgets, and media backlash against business meetings, these partnerships are more crucial then ever. Read on to learn how strategic partners can become extensions of your planning team — and turn doing more with less into doing more with more.

Forget Formality:
Call Me Brett

Known for his cool head and collaborative approach, Brett Barrowman, vice president, conference and travel management, American Fidelity Assurance in Oklahoma City, is a highly regarded partner in the hotel community. We asked him to share his thoughts on the importance of relationships.

Financial & Insurance Meetings: The economy has dramatically changed to what might be called a buyer's market — except that many planners are also facing challenges. How can partnerships help?

Brett Barrowman: We rely on our partnerships more than ever, and we continue to do business with people we know and trust. We're inundated with calls from suppliers we don't know. But we find ourselves sticking with our tried-and-true partners: They didn't abandon us when times were different, and we aren't abandoning them now.

FIM: How is the perception issue affecting your programs?

Barrowman: We are moving forward as usual: Right now we're planning meetings for 2012. We have always had to build a business case for every meeting, and that hasn't changed. It helps that we are a privately held company, but we are very aware of the perception issue and how our customers relate to what we do and how the media has portrayed the entire industry.

FIM: Who are your important hotel partners when planning a meeting?

Barrowman: Everyone at the property is important to me. I make a sincere attempt to establish personal relationships not only with the sales office but with all the hotel's departments — convention services, rooms, banquet, finance, and so on. If we don't already have a relationship, my first correspondence will start off on a formal basis but quickly become informal and friendly. Before we hit the property for a pre-con, I always make a phone call to the CSM so we can put a voice to a name. Then at the pre-con, I introduce myself to everyone personally — as Brett, not Mr. Barrowman. I like to set the tone that we're partners — to reach out and let the hotel staff know we respect what they do. Establishing an open and honest relationship up front can make the difference if things go south.

FIM: Can you give an example of something going south that was saved by a good relationship?

Barrowman: For one meeting where we did not choose the hotel's internal destination management company, our selected DMC went bankrupt just before the conference started. I was making a connecting flight to the conference when I got the call. I spoke briefly with the hotel DMC just before I boarded my flight. He was well aware of what had happened and told me not to worry. He went into action immediately. When I got to the hotel at 11 p.m., he met me at the front door and he didn't say a word about not choosing him at the start. He's now with another property in the same chain that I'm using in 2010.

FIM: What do you look for in the hotel staff that will help ensure your meetings run smoothly?

Barrowman: Good relationships are a two-way street. The hotel needs to have the right people with the right attitude. We also look at how long the staff has worked at the property or with the chain. Within chains, we expect a lot of turnover — and we will see people we've gotten to know at one property working at another. We'll also run into people from one chain who have moved to another chain. The thing to remember is that all these relationships are important. You never know who will show up where, and how you treat someone will follow you — and them — to places you might never imagine.

Sidebar #1: Community Service Can Be A Two-Way Street

When Financial & Insurance Conference Planners vice president, education, Kim Boriin, CMP, identified the Boys and Girls Club of the Pikes Peak Region as charity partner for a give-back program at the FICP Education Forum in June, he didn't know the kids would end up giving as good as they got. “Our ballroom at The Broadmoor has a full stage, complete with orchestra pit,” says Boriin, event marketing specialist, Guardian Investor Services LLC. “But we do not have the budget for an elaborate stage set. So we came up with the idea of a painting contest.” The Boys and Girls Club had 400 children paint their interpretations of the scenic Garden of the Gods area. The kids then voted on 50 finalists whose art will decorate the stage. Half the finalists helped hang the art at an ice-cream social, while the other half will participate in a teambuilding event at the forum. “We involved the kids in six months of excitement,” says Boriin. Backpacks, given to attendees at registration, will be donated to the Boys and Girls Club.

Sidebar #2: Book A Speaker for $10K or Less

Ruth Levine of SpeakInc Speakers Bureau in San Diego offers her best cost-cutting tips:

Negotiate

Negotiation is a more accepted practice than it was before the recession. It doesn't hurt to ask.

Go Virtual

If the speaker you want won't go below $20K, consider booking a virtual appearance. A webinar or training film not only saves money on travel, but many speakers will also reduce their fees significantly if they can speak to your audience from their living rooms.

Share the Savings

Is there another division that might want to use the same speaker? You'll boost your negotiating leverage by booking more then one presentation.

Book Local

Many speakers will lower their fees if they do not have to travel far. If your speaker is local, see if he or she will waive the expenses associated with a quick flight or short drive.

Make an Offer

For the first time in more than 20 years in this industry, I am regularly fielding calls from speakers who say, “Bring me an offer.” This likely will not last long but now is the time to do what Priceline.com does so well: Name your price!

Sidebar #3: Your Audiovisual Partner

As meeting teams become smaller, maintaining good relationships with your supplier partners is more important than ever, says Kelly Porter, CMP, manager, meeting and conference management at Manulife Financial in Waterloo, Ontario. “It's like having extra staff you can rely on,” she says. And being in budget-cutting mode means you need suppliers who can get creative about how you spend your meeting dollar. “The right partner wants to work with you to meet your budget and to make your meeting successful,” Porter says.

Next Page: From Sourcing to Messaging