Strategies for Selling Your Event Space
Tips from Event Professionals on How to Make More Money
Ready to discuss strategies for selling your event space to make more money? We are tapping into the expertise of four event professionals who candidly shared proven event sales strategies back at EventCamp 2023. These experts have such vast experience and powerful insight into restaurant, hotel, and venue event sales that will help you maximize event profits whether for social or corporate gatherings.
As these powerhouse women shared with Tripleseat sales leader and moderator Bethy McCune, there are some common threads to running a successful event sales strategy across the board – teamwork, efficiency, creativity, and flexibility. Let’s dive into some of the key takeaways from this packed session.
How important your people are
All panel experts agreed that when working on your event sales strategy, teamwork, continued education, and culture are all paramount. Clea Cosmann, the Director of Sales for Glowbal Restaurant Group shared how her team likes to promote from within and it is so important to train early and provide that hands-on experience that the position requires. Sometimes it can be difficult to let go when it may be easier to do something yourself but it’s worth investing the time to train. The Director of Corporate Event Sales for First Batch Hospitality, Amira Gertz, spoke about collaborating with her event managers and training them on the finances of running the business. She advises sharing P&Ls, the costs, and how to impact profitability.
Panelists also agreed that fostering a positive, team-focused culture is an important part of making event sales soar. From the hotel perspective, Ella Gonzalaz, in Business Development at the Mountain View Grand Resort (part of Hay Creek Boutique Properties) aptly pointed out that staff burnout is real! She advised that focusing on people’s strength and shifting people around really creates a great culture. Casey-O’Brien-Fechter, the Director of Events for Olive + Oak Hospitality added that it is so important that everyone embraces the company’s values. She shared more about how she encourages her team to be involved in Olive + Oak’s philanthropic values.
Seek out efficiency
Time is money and making sure you have an efficient way to manage event sales is crucial. Cosmann spoke about what she calls the “admin rabbit hole” and how she has helped her team by seeking ways to streamline through event management software, Tripleseat. O’Brien-Fechter pointed out that setting up the team to have easy access to event info creates working cohesively as an efficient team.
All the panelists praised the use of Tripleseat Event Management platform to create efficiency across both the front and back of house, and the robust reporting to make the most out of sales. Gertz said she loves to stay on top of Tripleseat’s lead volume and booking numbers. Cosmann uses a variety of reporting to give first dibs to repeat customers. Gonzalaz added that she adores the booking pace reports and the GRC reports for learning data about guest rooms.
Want to watch the full conversation about selling your event space?
Download the full video from EventCamp 2023.
Creativity in event offerings
When selling your event space, push and pull creative levers to work with clients. Cosmann spoke about constantly evaluating the business and not to sell the same way over and over. Consider inventive ways to maneuver with event demand, timing, your spaces, menu items, staffing, and pricing. Cosmann talked about how creativity about space and having an open perspective on how you set up your event spaces. Sometimes spaces can be reconfigured to better fit the demand. Consider being flexible or having no minimum F&B pricing guides, O’Brien-Fechter added. She shared that she has been successful by enabling sales managers to be dynamic in pricing and make the best decisions.
At the same time, don’t sell yourself short and undervalue your events. Gonzalaz reminded all that your product provides value. Make sure you paint the picture fully in what experience you are providing and be open to offering concessions. Listen to what clients’ needs are, Gertz stated, and if they are not a fit for your venue, don’t adjust to make the event fit.
Selling your event space means go where the planners are. Gertz advised to seek out ways to serve your customers and your neighborhood by joining industry groups, volunteering in the community, and meeting up with local businesses. Take a sandwich and a bottle of wine to potential or existing clients, drop off menus in corporate buildings, and make a creative videos of your space. Cosmann added that she encourages sales managers to mingle with lunchtime guests to make connections. Use creativity to make more connections with event planners!
Now you’re ready to put your event sales techniques to work!
Are you ready to grow your event business? Schedule a Tripleseat demo to take a closer look at our event management features.
