Using Your Marketing Dollars Creatively
Upon accepting your position, your employer may have offered you some perks to attract clients. One bonus might be an expense account to entertain clients socially after hours. Other bonuses might include a signing account to be used in-house if you are employed by a hotel or restaurant, or being able to entertain using part of the company's marketing budget. A lucky few of you might have a combination of all three bonuses to use. Before you begin your spending, think of creative ways to combine your resources and get the most bang for your buck.
Using Your Company's Marketing Budget
Your company most likely will have set aside resources for marketing in its budget. This budget may be used by the management, marketing department, or event-planning department. The marketing budget is used to attract more business to the company. Determine if these funds are available for your position and if so, what amount has been set aside.
The marketing budget can be used in a few different ways. As stated, this money can be used to host an event for an event planner as a networking campaign. Depending on which field of event planning you are employed in, the marketing budget can be used in a few other ways with your employer's approval:
Send a gift certificate from your establishment. An invitation to showcase your restaurant's private rooms will be that much sweeter if you include a gift certificate. The amount can be as little as cocktails for two or as grand as a five-course chef tasting menu.
Cater a luncheon. As a catering manager with no kitchen, ask the catering chef to prepare some cold, delectable sandwiches for your meeting. State this in your invitation, and refer to your meeting as a picnic lunch at your office.
Order in. As a meeting planner, your first inclination may be to host your new contact outside of the office. Reconsider if you have a nice conference room or boardroom. Make your invitation more tempting by using the lunch hour. You can also mention lunch subtly by asking if your guest has dietary restrictions.
Send a gift. Corporate event planners may send in-house merchandise along with an invitation. If your company manufactures sports equipment, send a seasonal recreational gift along with your invitation. A company jersey (with your logo imprinted on the front) counts double as a marketing and networking tool.
ssential
There is a chance your position may not have access to the marketing budget. Do not let this deter you from your marketing efforts. If you have a great marketing idea, bring it to your employer.
Using Your Expense Account
The key to using your expense account, especially if it is small, is to use it efficiently. For instance, if there is a new restaurant opening in your neighborhood, you can use this opportunity to invite another event planner. If it is an after-hours meeting, ask your guest if she will be coming straight from work. You can take her cue and dress accordingly.
Another example of using your expense account wisely is to entertain a client at a destination where you are looking to meet the event planner. This will most likely be in a restaurant or a hotel environment. While you will not be able to sit and meet with another event planner at this time, you can at least make the introduction. Call ahead to determine if your contact will be working at the time of your visit. Explain you are bringing in a client and would like to say hello if she is working. Your contact will likely be grateful you are bringing in a client to her restaurant. A second meeting is sure to follow. Casually mention to your client beforehand you intend to make a quick introduction while at the restaurant.
Fact
A signing account is an industry way of describing a program in which an employee, usually management, signs for meals. The meals can be for entertaining clients, family, or friends. A signing account is usually a set amount within a quarter or a year.
Remember to have a dialogue with your employer when using an expense account creatively. Getting approval ahead of time is always a good idea. You can avoid the raised eyebrow when the accounting department processes your receipt if your employer has preapproved your spending. You may need to remind your employer of the benefit of networking and how it leads to more business.
Using Your In-House Expense Account
An in-house expense account or signing account, usually in a restaurant environment, may be used to treat clients, and sometimes friends and family, to dinner. Use your signing account wisely. Rather than treating your friends and family to elaborate meals at your restaurant, use your signing account to invite event planners. If you are a restaurant planner, you can benefit from having meeting planners, corporate planners, and other restaurant planners view your space.
Alert
Be frugal with your money. To make the most of your signing account, invite clients, family, friends, and other event planners into your restaurant for lunch or cocktails. This will be less expensive than dinner, and your signing account will be stretched further. Make certain your servers and bartenders are taken care of each time you comp someone's meal.
Promotions and Coupons
Reaching out to a prospective network contact is always easier if you make the visit worth the contact's time. An invitation is always sweeter if food and cocktails are offered, which is why meeting at a restaurant or café, or catering a luncheon will always secure a positive response. In many cases, fledgling businesses cannot afford such an extravagant marketing budget. If you have started your own company, for example, you may begin your marketing efforts with smaller, more effective measures.
You can begin two ways. One is by offering a coupon of sorts. A coupon is usually a form of collateral which a client needs to present to receive a discount.
The second way to begin a smaller marketing campaign is to offer a promotion of your services. A promotion can be handled a number of ways. Following are some suggestions.
Offer a client a percentage off of her next event if she refers a friend.
An advertisement may include an offer for a percentage off an event or service if a client mentions the publication where he saw the ad. This also works for Web site advertising.
Often new clients are tempted with a promotion to entice business. For example, a promotion can include free linens or a discount from a vendor, such as 10 percent off of floral arrangements.
Alert
Coupons have a less than favorable connotation in the industry. It evokes images of a supermarket dollar-off coupon. Some might think a coupon is a discount because your services are not as good as another event planner's. Avoid the term
Staying in Touch
Once you have made a new networking contact, add your new contact to all company mailing and e-mail lists to keep him current on events and promotions. You can also reach out to your new contact around the holidays with greeting cards and promotions. Another idea is to attend the same networking events together or agree to meet at an event.
