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Stories - Circle Events See Profits Soar

We would be delighted to share our experiences of how we are taking the business forward after the "Lets Talk More Profit" seminar!

After the event there where two main things that stuck in our minds

1. Turning bad business away - clients who what the earth and are not prepared to pay for it and
2. Keeping the customer going - maximizing on the potential of existing clients.

We were starting to become aware of our increased "bad business" prior to the seminar, however when a discussion was had about "Pond Life" it became clear that we were still putting far too much stall by these clients.

We are an Event Management Company who designs proposals for our clients to secure business. As you can imagine a tremendous amount of time and effort goes into producing these proposals only to be turned down due to costs, or the event is sold on the basis of a lost leader where the client either doesn't re book or worst still, wants to re book but at the same prices as before!

We are well aware that any event is a precious entity to an organisation and an opportunity to showcase their talents and services can involve a long decision making process - so we are not suggesting that all of these clients would be a waste of time but that perhaps we need to have a vetting system to separate the good from the bad!

This new way of thinking has introduced our three-point "Potential Sales Plan" where upon speaking with an interested client a selection of criteria must be met before the proposal process starts.

So far we have turned down two different potential clients who we believe would of only generated a very small profit. Instead of continuing along the proposal process or taking the booking at a low rate of profit we have ploughed efforts into other areas of the business such as our marketing plan which has recently seen Circle Events Ltd win an Events industry award the 'Events Market Development Project'. 

Laura Brown Director of Circle Events comments
"I truly believe that we would not of had time to enter the industry award if we had increased our work load with what potentially would of been very low or possibly no profit business.

Circle Events provides an excellent service which should be concentrated towards profitable clients who are able to pay the industry standard rates, this in turn provides us with the cash flow to retain our fantastic freelancers who are the driving force behind our event success and allows us the time to build upon our services to deliver and exceed our clients expectations"

Now we come to point 2) Keeping the customer going.

We have many excellent clients on board who have remained loyal to our services but how can we continue to maintain profitable business from these clients and expand on their involvement with us?

We decided from discussions after the seminar that we needed to offer new services along side our existing ones and so have introduced our "online registration" system and our "Go Green Event Consultancy" both services are add-ons to our existing packages and allow the client to easily fall in line with any CSR policy utilizing the Go Green Consultancy whilst removing additional client man hours with the use of the online delegate registration.

Clients interest in the new products has been researched and with the introduction of these services Circle Events hopes to increase turnover by 22.5%.

Laura Brown Director of Circle Events comments
"We are already reaping the rewards of our newly installed services with two clients signed up to use our online registration system and genuine interest being shown in our Go Green Consultancy, Its a certainty that if we had not attended the 'Lets Talk More Profit' seminar then we would not be looking at such an increase in profits, the seminar definitely started the ideas rolling and provided us with new avenues of thought to wander down!"

Kind regards

Laura

 

Laura Brown
e-mail - laura@circle-events.co.uk
web -    www.circle-events.co.uk
Tel -     0113 281 6794    Mobile - 07932 99 50 40  
Fax -    0113 281 6771 

Circle Events Ltd, 15 Queens Square, Leeds, LS2 8AJ