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February 26, 2025 22 mins

Want better event contracts and faster RFP responses? Learn how to build partnerships that close the deal!

In Part 2 of The Art of Negotiation, we take a deep dive into supplier partnerships and how to navigate event contracts more effectively. From crafting stronger RFPs to ensuring win-win negotiations, this episode uncovers the secrets of building lasting relationships in the event industry.

What you’ll learn:
✔️ How to personalize RFP responses for better outcomes
✔️ The importance of trust and rapport in event negotiations
✔️ How supplier relationships can make or break your event contracts
✔️ Key negotiation tactics to maximize value for both planners and vendors

If you're in event planning, corporate meetings, or hospitality sales, these insider tips will help you secure better deals and streamline communication with suppliers!

👉 Like, Comment & Subscribe for more expert event industry content!

🔗 Follow us on LinkedIn & Instagram for more event planning insights!

 

#EventNegotiation #SupplierPartnerships #EventContracts #VendorRelations #CorporateEvents #EventStrategy #NegotiationTactics #EventIndustry #RFPProcess #BusinessNegotiation #EventPlannerTips #MeetingIndustry #EventSuccess #EventProfs #HospitalityContracts #ContractNegotiation #VendorManagement #EventPlanningBusiness #PlannerTips #EventManagement #Viral #Shorts #Trending #ForYou #FYP #Entrepreneurship #BusinessGrowth #Networking #SuccessTips #HospitalityIndustry

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Transcript

Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Welcome to Event Therapy Podcast. And today, we are going to kinda continue on our conversation with a part 2 on the art of negotiation and establishing partnerships. Love it. Yeah. I think we had so much great conversation around this.

(00:01):
I'd love to kind of deep dive a little further into, you know, what does that look like, and how can you establish that partnership and that relationship when it comes to a negotiation? Because, you know, we all know those partnerships are key and that people like doing business with people they like and they know. So, Liz, I'd love to see a little bit about even just the beginning, say, RFP process. You're responding generally. Maybe it's a Cvent lead.
Maybe it's something that's been emailed. But how do you how are you able to establish that relationship and that partnership right off the bat? Yeah. I think this was a good point that David started in our last conversation. It was, like, people do business with people they know, like, and trust.
But in this process, when you're you don't know the hotel or I don't know the client, like, how how do we kind of switch that? So I want them to like me, I think, is, like, where I start that, you know, and and build trust with them. So in some general proposals like we talked about in our last episode, a Cvent lead perhaps, you know, just not necessarily crafting your you know, it even allows a lot of, you know, preloaded responses. Yeah. They're saved.
You can just you know? And some of that's, like, what's your resort fee include? And that's fine. But I always try and be, you know, just really kinda specific, build the relationship. If I recognize the name or if I know the end client, but I'm but this is a third party that is sending the business that maybe I don't know, making the connection I've previously worked with.
Like, somehow identifying that or I'm familiar with. I just got a a lead today for, a really specific type of event, that's really custom to a hotel that has suite and in suite meetings. Like, making sure that they're aware, not just assuming, but, like, this I understand the needs of your group. Like, this is something that the hotel specializes in, and we have a lot of experience in so that you're already building that trust. So little things, developing the experience.
You know, if they put in there, you know, we love to have a welcome reception in a unique location. Sometimes we do that on-site. Sometimes we like to go off-site. Like, give me some ideas. Like, not just putting that in the agenda, never mentioning that the client pointed this out to you.
So, you know, kinda driving the experience for them. You know, we have this beautiful oceanfront event lawn, right on the beach. I it has amazing sunsets, like, whatever. You know, little information you wanna put in there to to to try and build that. I didn't just, like, put together, you know, rate, state, space, boom, sent it.
Like, you could do that a lot of ways in Cvent. You can obviously do that in an email, any of the, you know, standard proposals that we use in hotels. You have the ability to add some to it that's not so standard. So, you know, the more information you can give so that I understand your needs because I haven't met you yet. You don't know me.
I don't know you. So, like, that information's super critical. Like each other. Yeah. And know that you're gonna like me when you get my r get my response.
So yeah. So, I mean, I think having that information helps me be able to customize something better for you and build a little bit of, you know, like, hopefully, and, you know, eventually build your trust. And and but starting early in the process, you know, I want to, know, show that we want your business. Which is so key. And you and I were talking about this a little bit, and I didn't even realize it when you were saying, you know, I I put a little more in that RFP calling out specific things that, you know, I I do know your business or I do know you or I do offer this and was reading your RFP.
That does stick out to me, and that will set you apart to just somebody who just gave me cookie cutter responses because then I know you really did take the time and you obviously value my program. So I love that you said that, you know, so many people are like, well, how are you supposed to develop that relationship and that initial RFP process when it's so can almost feel cold and especially with a hotel. So those are great little tips to kind of, you know, make it seem more personal. Another thing too, I was thinking, like, a lot of times you get the same lead, you know, each year. You know, maybe you didn't get it the 1st year, and then they send it again.
And then again, you know, like, understanding like, in saying that, like, you know, I really we really want your business, and, hopefully, this is the year that we can earn it. You know, is there anything from, you know, other proposals that you you know, is keeping you from, you know, moving forward with our location? Let me know. Like, I try and point that out. Like, I think it's nice for them to know that, like, I recognize that you have again yet sourced us for this.
We haven't earned your business yet, and, like, I'm aware of that. So that, hopefully, they just feel a little bit more inclined to respond and give me more information that can help me better, you know, overcome it, whatever objections they have. That trust. Mhmm. Well, probably the reason why you maybe necessarily didn't notice she was doing it is because it's She's a great salesperson.
Well, it's that, but she does care. But but it's the it's the point of being intentional about doing those things Right. And creating that. It it feels organic to you, but it was intentional on her part. Right?
Because she understands, you know, obviously, Liz is not new to this. You're none of us are new to this. Right? So we understand the value of building that and knowing that, yes, in the beginning, it is a transactional situation. But my goal, if I really wanna make this work, is to flip this from transactional to relational as quickly as I can.
And the best way to do that is, again, do those little things that feel organic to the receiver, but they're intentional by the person that's putting them out there. Because imagine if Liz said, hey. Well, let's let's set up a time to talk so I can get all this information and blah blah blah blah. And in the back of your mind, you're like, I ain't got time to do that with everybody. Like, how am I gonna do that?
But she can and she is doing planting those little things in there that make your psychological mind say, wow. She's really paying attention. She really cares. Right. And the reason for it is because she knows you're not gonna do business with her unless you like her and trust her and so on and so forth.
And so I think it's I think it's cool when you when you can analyze that and realize, like, they're the people that do that, they're doing it intentionally, and they know why they're doing it. Well, even if she misses the mark a little bit slightly, I appreciate the fact that you listened, you put that in, and I'm like and then that's on me to follow-up and say, hey. Let's have a call. I don't think I can make a call. More inclined to do that because And I would.
There's yeah. Like, there's this feeling of comfortability that I'm not saying that you sit there and you're like, I don't know why I feel comfortable, but I really feel comfortable. Starting to like it. Right? But like this but like this Recording recording now.
Right? Like, there's this little split split subconscious thing going on, and I know I'm getting a little deep on that. But, like, there's this little subconscious thing going on that's just, hey. I really like this person. I don't know why, but I really like this person.
And so they kinda move into the, if not the yes list, at least the potential list, and they don't move to the, yeah, no thank you list. Yeah. Yeah. And if I like you, I'm gonna come to you and say, hey. I really wanna do business with you.

(00:22):
Yeah. But there I I I do have this other offer on the table that's a little more enticing. How can we get somewhere? You know? Because a lot of times, I'm having to present to Yep.
Other individuals or or leadership and trying to show them the different offers. And I find that that has always worked where the hotel is like, well, you know, I I can't necessarily do that, but I can do this. Right. And a lot of times, it might even be better. Never know.
Yep. Never know. Yep. So I I definitely think it's important to, you know, build that trust, especially in the beginning, but then you also gotta keep that trust Yep. And kinda deliver on those promises.
So we talk about getting to the point of signing the contract. So now we we've negotiated back and forth. We've signed signed, sealed, delivered the contract, and we're going to the next steps. What are some ways that because I know, Liz, a lot of times in your standpoint, you're turning that over. Yeah.
But you want to make sure that you're are are you still well, and I know the answer to this, but are you still following up with the client and keeping that relationship and kind of managing behind the scenes? Because I think a lot of times planners may not realize. They just think you're you're, like, I'm done. Mhmm. Yeah.
I think in a different hotel, this could be a different answer, depending on size and and how it's structured there. I mean, I think a good salesperson with a good account, you know, obviously wants to stay, know, in the loop on what's going on with their client. So, I mean, I think it's a little bit of a mix. I want you to build trust now with your event manager who's gonna be your point of contact, and I want that person to build trust in the operations team. So it's, like, it's becoming more than just Liz Hogan.
It's now, you know, our whole team and everybody's behind it. You know, but how do I communicate everything we talked about? You know, there's internal ways that we do that, in the turnover process. And the information that you've given to me, I've gotta make sure it maybe not even written into your contract, like, just things that we know or things that we discussed. Mhmm.
Putting that into the notes, you know, that go over into the booking rate caps so that the event manager has it. I mean, if I work closely with my event managers to make sure that they know they can reach me if, you know, there's ever a question. I think, you know, something comes up a year later when you start planning it, and it's like, oh, well, Liz said, whatever. Like, just ask me. Like, I may have said that and didn't, you know, miss putting it in the notes.
But, yeah, the I think a little behind the scenes that went away because I think that allows the event manager to start to build that relationship. I can support them, but I don't want them to look like they're constantly having to go back, you know, to the to the guy in the backroom to answer all the questions. You know that they're empowered to, you know, be able to plan your event. So No. And and that's and that's very important.
You know, you wanna make sure that you have the good relationship there. From the planner standpoint, that relationship is is is the most important because that is who you're working with with all the details. And it is unfortunate. There there have been some times where I gotta go back to my salesperson and Yeah. Hey.
I'm not getting what I'm needing, you know, or the timeliness. And, I I think it's important to also realize those are 2 different people. Yep. You know? And I I try and take that into consideration because, you know, it it's it's hard when you're when you're working with different variable people and you have a great relationship and trust with some.
And sometimes there can be that one, like, you know, out there, but I think as long as you're able to kind of communicate, step in, help with those needs, like, that that relationship can stay. Yeah. And it can still consistently be there, and that trust doesn't have to be lost. Well, listening to that part of it, I mean, it's it reminds me. I think sometimes it gets overlooked or not really thought about that what we do in the event industry, and and there's statistics out there that, you know, what we do all of us all of us that are involved in the event industry, it's like one of the most highest stressful jobs in the world.
I know. It makes the list like everybody. Well but but here's why. Here's why. Because everything is live in the moment.
Mhmm. Everything is happening right then. Right. And most of the time, nobody involved wants to have to stop, start over, and do it again. And most of the time, you don't even have the option to do that.
Yeah. That's right. Like, that is that is the reason for the stress. And so it's something that it's important for all of us to be aware of because if we go back to our previous, part one of this podcast and we go back to that win win thing Mhmm. Remember we said, you know, just as a kind of a catch up, win win means nobody has to lose, like, in the deal.
Both both both people can win, somebody doesn't have to lose, which, by the way, I wanna give credit to Grant Cardone for learning that, by the way. That's not something I came up on my own. No. It's not. No.
That's not something that came up on my own. I learned that from Grant Cardone. I wanna make sure I said that. But, in the same vein, mutual respect is another example of that. Right.
Mutual respect means I have to respect you and not just expect you to respect me. Yeah. And I think that's what gets lost a lot of time in those situations where, pardon my language, this shit hits the fan. I'm just gonna say it because there's no better way to say it. Right?
Right. Like, when that happens, it feels like that mutual respect just goes out the window. And why? Because we are stressed out about being in the live setting of the moment. Aren't communicating.
Yeah. You know? Like, there those things But they may not know how to communicate too, though. Right? Like, people get flustered.
People get nervous. People get emotional. There's all different reasons why somebody and I'm guilty of this sometimes myself. I think I feel like I've gotten a lot better about it because I came from a private events world and moved more into a more corporate events world and realized that the value and the necessity to build that skill of being able to communicate well and being able to communicate under pressure and be able to communicate when you know that it's your fault, but you're still trying to create a solution. And and luckily, I'm I'm typically a very solutions driven person, so that helps me out a lot.

(00:43):
But, truthfully, there are times where people just they freeze up. They're like, I don't know. Yeah. But if a vendor or a supplier can communicate to me challenges they're having Yeah. Issues that are coming up, whether it's something didn't happen, something fell through.
Right. Somebody didn't do their job. But You know? But in all fairness but in all fairness, what if it's a planner that didn't do their job? Because what if the problem that the supplier or hotelier is having is because the planner thought they communicated something that they didn't?
Mhmm. Then I and then but then I think the the supplier and the hotelier should be able to communicate that. Yeah. So, you know, if it's something that on a planning side that I didn't communicate to you, it's, again, how you communicate. I don't wanna make this a you thing.
I don't wanna make this a you thing. I'm just saying a planner. You in this podcast role today. No. I'm I'm not saying me.
I I'm trying to actually explain that it is a difficult situation because, you you know, your job was to communicate the things, and, you know, it's our job to execute that plan. And how do we in an emotional now the motions come in, and everybody everybody reacts differently once emotions involved in it. And we're in the middle of an event and how it it is very delicate situation to go back to the customer and say, like, well, here's why this happened. You didn't tell us that x. I mean and it's I think it's how you say it.
Well, that's what I was trying to say. It's it's how you say it. Yeah. Nobody likes to be told that they're wrong or what's happening. Bring a solution.
Like, here's you come with a solution? We didn't know that. Right? So, we're gonna put it, and here's what we're gonna do. And, you know, and that's the best solution.
Are you good with that? Like and let's move forward. But those things come up a lot, so I think it's funny that you I mean, I think it's good for you for ask saying that because I think that's part of this podcast is, like Yeah. Really seeing all sides and that, you know, those things can happen. Fairness, I've never had that situation happen when I've worked with you, but I'm saying there have been planners not saying her.
Yeah. Yeah. She's just the planner. There have definitely been planners that I've worked with that they didn't convey certain information to us, but in their mind, they thought they did, and I'm okay to accept that. But if I can show that person this was never conveyed to us, I understand you're in the moment.
Or show that to me, and my my pause was, do I start with what I would think about it or versus how the response would be? So what I was trying to say is in pausing in that, I think it's important that if I didn't communicate something, then you do need to tell me that. And there is a tactful way to do that. Yeah. But I have been in situations where suppliers have just said, well, you didn't tell me that.
Sure. I don't know what you expect me to do. Sure. Yeah. That's not the way to get anything.
That's not the way you've been anybody to do it. Met with the same Yeah. You know, kind of energy. But if you come across and you say, you know, x y z has happened, you're a hotelier, you're a vendor, and you're in the moment, and you didn't know that information, Like, you just kinda said, that is great information to know. That wasn't communicated to us.
Right. So we were not prepared for that, but that doesn't mean that we can't work together and find a solution. Yeah. Or that doesn't mean that we can't look at x, y, and z. Yeah.
As a planner, I'm gonna be like, oh, snap. Forgot to communicate that. You know? It's not a you didn't do this. It's more that information is what it was like.
I'm telling you that I've been in a situation, again, not with you, but I've been in a situation where I conveyed it exactly the way you just said it. And the planner was dead set on believing that they communicated it. And here but here's the problem. The problem is that that part of it is not even the most important part of this thing. The problem is what ego thing.
Yeah. The problem is whatever needs to be done right now is the most important thing of all of it. Right? And so that's where that's where it becomes this really interesting, like, challenge because 2 people can be proverbially banging their chest. You didn't tell me.
Yes. I did. You didn't tell me. Yes. I right.
I I think you have to stop it right then and there, and you don't even play that game in the event. Or I would I I get it. I get it. Not everybody's as good as you, and I think you're great at what you do. I'm just this this is what this podcast is about is addressing your situation.
But as a supplier, I would almost encourage you to say, I I realize we're not gonna get to a resolution on this right now. And at at this point in time, the most important thing is the success of this event. Yep. So we can continue that part of the conversation at a later date. Like, right now, let's talk about how we're gonna fix this right now.
And then and I would be hard pressed for some no. We're not gonna fix it. I'm gonna argue with you. But no. It's happened.
Talk. Yeah. Yeah. Well Yeah. Hopefully, that was one off Yeah.

(01:04):
You know? Situation. But in general, I think for our listeners, I mean, these are difficult, you know, conversations to have. It's difficult to have it right now with the 3 of us. I mean but it is the business that we're in, and it is things that people aren't talking about, and we all just sorta march on, you know, to the next day.
But having, you know, some of the things we talked about in other podcasts, like, really, like, just finding a solution in the moment. Like, everybody do your jobs in that moment and take a deep breath. I think in the from the hotel side of what listening to you guys, I think we're in the hospitality business, and, you know, I feel like we think sometimes we can't even say that. Like, and then we have to take the blame for it. And I just there is a way of sending the message, having the conversation where it can be delicately handled that it's not calling somebody out.
Well, you didn't tell us, so x happened. I mean, we're we wanna make this happen for you. We're a good partner. Like, here's what I think would be a good solution, and then make sure you're okay with that. I I think it can be if the emotions are removed from the situation, I think it can be handled, and I think in our business, we do this every day.
And, yes. I I really think that was point that I was trying to make. Yeah. That that's what I goes back to, are they a good partner, or are they a good piece of business for you? And I think, you know, maybe that is something you learn through that event that Yeah.
Maybe this is not a bad Oh, I know the other thing I wanted to say was just like a post con. Like, if you wanna work together again, hopefully, you do. You know, if it wasn't a huge mess, then I think we all wanna work together again. Yeah. And, obviously, that's extremely rare.
But, I mean, then to have a post con to be like like like, really be able to address it maybe the way that you wanted to that wasn't the heat of the moment when it felt emotional. Yeah. I I think you you brought up the great point of of, you know, keeping the emotions out of it. That's not easy to do. That's something that we all have to be intentional about.
And I think it's really important. And this is why I try to drive this message home so much. I think it's really important for all three parties, and and there's other parties involved as well, but because of of the way we're structured here, all three parties to be intentional of going into the situation, the event, whatever, with number 1, none of the other 2 people in this equation are out to get me. Number 2, if something goes wrong, I can't just assume that they had control over it going wrong. Mhmm.
And number 3, I have to be open minded enough to find a solution and not just immediately jump to attack. Yeah. And it happens a lot, and it's just frustrating that it happens a lot. And any any one of the 3 entities, supplier, planner, hotelier, any one of the 3 entities can be guilty of it. So it's not just dumping all of this on the planner.
Like, it's a I was just expressing, you know, some some passive situations that I can recall happening to me. But but, yeah, I think, you know, again, it's it's not easy to do. But the problem is if we don't think about it going into the event, then when the problem happens is not the right time to start thinking about it. Mhmm. You know what I mean?
So just going into it of this mindset of and and and I would say it one more time. We have to be intentional. Going into it with this mindset of we're all here to make sure we all win. And if something goes wrong, it doesn't go wrong for one of us. It goes wrong for all of us.
So let's all work together to come up with a solution, and let's not blame each other. We can do that later in the post con, like you said. And the entire the entirety of the event should not be defined by one thing that happens that's probably out of control of everybody's. Right. Well, things happen.
And and I think, again, it goes back to if you establish that or trust in the beginning Yeah. And you communicate and have that mutual respect in the beginning, hopefully, you won't be in that situation. So I think making sure that that relationship and relationship and and looking at everything as a win win and really evaluating, is is this the best fit for both sides? Yep. Well, it was a fun little conversation here today.
So therapy. Therapy for good, bad, and ugly. But thank you, and make sure to follow us at event therapy podcast, and we'll catch you at the next event.
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