GlobeSpan Meeting Planners, Inc.

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Global Event Planning Business Plan

Strategy and Implementation Summary

GlobeSpan, with our strategic alliance with HelmsBriscoe, will offer the great customer service of a small company; yet, offer the services of a big company to our clients. With aggressive prospecting, follow-up, and attention to detail, GlobeSpan will exceed the needs of the four target market segments. We will develop our niche market--those clients needing a "silent partner" to save them time and offer intelligent solutions--by targeted sales and service. We will commit to a consistent "review and change" process by which we can anticipate the needs of the marketplace and implement change to stay competitive.

6.1 Competitive Edge

There are several competitive edges that GlobeSpan Meeting Planners has over its competitors. First, over national representation firms, GlobeSpan has the freedom and ability to present any hotel/resort as a solution to the customer, we are not restricted to a few retainer hotels/resorts. Second, we can offer the services of a big company but are still small enough to offer great customer service to the fastest growing segment of businesses--small-to mid-sized. Third, while national site search firms are limited to just finding a destination for the customer, through our alliance with HelmsBriscoe's Resource One, we have the ability to help with all aspects of the meeting, as well as offer assistance with airfare and cruises. Fourth, although small search firms can only offer limited knowledge and service, our alliance with HelmsBriscoe allows us access to over 180 associates and databases detailing the experiences at each destination.

Overall, GlobeSpan will offer the best of both worlds--small-company service with big company expertise.

6.2 Marketing Strategy

The owners' 17 years experience in the industry will bring a wealth of contacts with whom to build a network of referrals. We will utilize the marketing materials offered by HelmsBriscoe as a foundation, and build upon the quality letters, proposals, newsletters and reminder cards. We will be able to market like a small company with big company clout. We will benefit from the national marketing efforts of HelmsBriscoe, such as national advertising, national partnership marketing with hotels/resorts, Web marketing such as HotDateHotRates.com, HelmsBriscoe.com, HBMeet-Market.com, FirstOptionHB.com, the HelmsBricoe quarterly newsletter, and several international industry events per year, such as the Industry Summit.

6.2.1 Promotion Strategy

GlobeSpan will consistently ask clients for referrals and will keep in contact with customers by direct mail to update clients with new information and reasons to utilize our services. We will concentrate on complete client trust and strive to exceed client expectations, which will ultimately cultivate repeat business and increase referrals.

6.2.2 Pricing Summary

GlobeSpan Meeting Planners will offer its services free of charge to the client. From the property in which the client books the meeting, GlobeSpan will receive a 10% of total rooms revenue commission. Between three and four percent of this commission will go to HelmsBriscoe in return for the services described herein. The total commission for the company will break down as follows:

Booking RevenueGlobeSpan's Commission
$1 million6%
$1 million-$2 million6.1%
$2 million-$3 million6.2%
$3 million-$4 million6.3%
$4 million-$5 million6.4%
$5 million-$6 million6.5%
$6 million-$7 million6.6%
$7 million-$8 million6.7%
$8 million-$9 million6.8%
$9 million-$10 million6.9%
Over $10 million7%

Although it does not seem like a large jump, for example, one percent commission on $10 million would translate to $100,000 for GlobeSpan. So it does add up significantly as our revenue numbers grow.

6.2.3 Marketing Programs

Our marketing programs for the first five months of operation are listed in our milestones chart. Specifically, we intend to get the word out with direct mail. All other national marketing efforts will be handled by HelmsBriscoe. At the end of the five months, we will re-evaluate our position based on meeting/exceeding our sales forecast and will make adjustments for the next six months accordingly.

6.2.4 Positioning Statement

For those companies, associations, and organizations who need time-saving, reliable, honest, and intelligent assistance with site searches and meeting planning, GlobeSpan can provide the timely follow-up, integrity, advocacy, and custom solutions of a small company while offering the leverage, technical and meeting destination knowledge of a big company. Unlike the national representation firms, GlobeSpan is not on retainer with specific hotels/resorts and, therefore, can offer objective solutions to the client's custom meeting needs.

6.3 Sales Strategy

The features of GlobeSpan, combined with it's no-cost service to the client, will assist in closing sales. We must stress to the client that our commission will not increase the price paid by the client to the hotel/resort and ensure the hotels/resorts utilized are consistent with this promise. To ensure future sales, we must have incredible follow-up and personalized customer service. We must create so much value in our service that planning a meeting without us would be viewed by the client as a mistake.

6.3.1 Sales Forecast

Our sales forecast in the appendix of this plan details our anticipated commissions. This is a very conservative estimate based on the actual history of sales of one of the owners. Please note the plan outlines the quarterly nature of corporate sales (our major segment) and tends to be lower during the beginning of a quarter (January through March would be one quarter) and heavier toward the close of the quarters. We anticipate no referral commission at first, however, we do anticipate that that commission will slowly and steadily increase over time.

Example: To achieve a $3,000 commission in month one, we are anticipating closing $50,000 in rooms revenue or approximately one contract at, for example, 75 rooms for four nights at a rate of $175 actualized in August. This would yield a $3,000 commission which is 6% of $50,000. The rest of the forecast is figured with the same reasoning.

Sales Forecast
Year 1 Year 2 Year 3
Sales
Meeting Planning $116,216 $164,050 $273,950
Resource One Referrals $4,200 $7,200 $10,800
Total Sales $120,416 $171,250 $284,750
Direct Cost of Sales Year 1 Year 2 Year 3
Meeting Planning $0 $0 $0
Resource One Referrals $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0

6.3.2 Sales Programs

Our sales programs for the first five months of operation are listed in our Milestones chart. Specifically, we intend to qualify our customers utilizing industry directories such as the Meeting Planners Guide and other relevant resources, create planner specific letters and proposals based on each segment's different needs, follow-up with telephone solicitation and personal letters and perform future follow-up in the form of friendly direct mail and telephone calls. At the end of the five months, we will re-evaluate our position based on meeting/exceeding our sales forecast and will make adjustments for the next six months accordingly.

6.4 Strategic Alliances

We will form a strategic alliance with HelmsBricoe Performance Group. This alliance will allow GlobeSpan access to many helpful items:

  1. Expensive, full-color collateral material, letterhead and business cards in any quantity needed.
  2. Access to over 210 partners in 50 offices who can assist with any questions/need for destination information, recommendations, etc.
  3. Access to the HelmsBriscoe intranet which provides detailed hotel/resort information and site information which can be provided to the clients in minutes.
  4. Resource One will provide additional revenue to GlobeSpan by offering "large company" services such as airline reservations, full production company capabilities, housing/hotel block assistance to the customer and prospection/lead generation assistance to GlobeSpan if needed.
  5. By utilizing the "permission marketing" of HelmsBriscoe, GlobeSpan is immediately recognized as the country's largest meeting and conference resource firm. No introduction or start-up advertising is necessary.

6.5 Milestones

The following table offers our benchmarks for success. GlobeSpan has assigned each task to an owner and have very specific completion dates for each task.

As demonstrated, we are focused on marketing and sales. By ending the milestones in January, we are demonstrating a business philosophy--constant evaluation and change for the better. It is our intention to spend a week every six months thinking and evaluating the current status of our business and designing a new milestone charge for the future, which integrates our successes and creates new ideas for the future.

Milestones
Milestone Start Date End Date Budget Manager Department
Qualify list of clients currently not using 3rd party services 7/31/2000 8/3/2000 $0 T.L Sales
Create new introduction/features/benefits letter 7/31/2000 8/3/2000 $0 T.L Sales
Create request for proposal forms 7/31/2000 8/3/2000 $0 K.F Service
Create client proposal response forms 7/31/2000 8/3/2000 $0 K.F Service
Send direct mail to qualified clients not using 3rd party services 8/3/2000 8/4/2000 $0 K.F Service
Followup calls to clients not using 3rd party services 8/7/2000 8/18/2000 $0 T.L Sales
Perform searches for any clients captured during prospecting 8/7/2000 7/31/2001 $0 K.F Service
Record any successful prospects into Act Database 8/7/2000 8/18/2000 $0 K.F Service
Trace for future sales followup 8/7/2000 8/18/2000 $0 T.L Sales
Trace for short-term service followup 8/7/2000 7/31/2001 $0 K.F Service
Create list of corporate meeting planner prospects 8/21/2000 8/24/2000 $0 T.L Sales
Create corporate introduction/features/benefits Letter 8/21/2000 8/24/2000 $0 T.L Sales
Send direct mail to corporate meeting planner prospects 8/24/2000 8/25/2000 $0 K.F Service
Followup calls to corporate meeting planner prospects 8/28/2000 9/15/2000 $0 T.L Sales
Perform searches for any cients captured during corporate prospecting 8/28/2000 7/31/2001 $0 K.F Service
Record any successful prospects into Act Database 8/28/2000 9/15/2000 $0 K.F Service
Trace for future sales followup 8/28/2000 9/15/2000 $0 T.L Sales
Trace for short-term service followup 8/28/2000 7/31/2001 $0 K.F Service
Create message for first reminder postcard to go to current database 9/18/2000 9/19/2000 $0 T.L Sales
Create postcard and have printed 9/19/2000 9/22/2000 $0 K.F Service
Send postcard to current database 9/25/2000 9/27/2000 $0 K.F Service
Create list of association meeting planner prospects 9/25/2000 9/28/2000 $0 T.L Sales
Create asociation introduction/features/benefits letter 9/25/2000 9/28/2000 $0 T.L Sales
Send direct mail to association meeting planner prospects 9/28/2000 9/29/2000 $0 K.F Service
Followup calls to association meeting planner prospects 10/2/2000 10/13/2000 $0 T.L Sales
Perform searches for any clients captured during association prospecting 10/2/2000 7/31/2001 $0 K.F Service
Record any successful prospects into Act Database 10/2/2000 10/13/2000 $0 K.F Service
Trace for future sales followup 10/2/2000 10/13/2000 $0 T.L Sales
Trace for short-term service followup 10/2/2000 7/31/2001 $0 K.F Service
Order custom message cards to thank customers for the new business 10/16/2000 10/20/2000 $0 T.L Sales
Send Thanksgiving cards to Database 11/13/2000 11/17/2000 $0 K.F Service
Order general holiday cards 10/16/2000 10/20/2000 $0 T.L Sales
Send holiday cards 12/11/2000 12/15/2000 $0 Both Sales/Service
Create list of Incentive/Smerf meeting planner prospects 10/23/2000 10/26/2000 $0 T.L Sales
Create separate Incentive/SMERF introduction/features/benefits letter 10/23/2000 10/26/2000 $0 T.L Sales
Send direct mail pieces to Incentive and SMERF meeting planner prospects 10/26/2000 10/27/2000 $0 K.F Service
Followup calls to Incentive/SMERF meeting planner prospects 10/30/2000 11/7/2000 $0 T.L Sales
Perform searches for any clients captured during Incentive/SMERF prospecting 10/30/2000 7/31/2001 $0 K.F Service
Record any successful prospects into Act Database 10/30/2000 11/7/2000 $0 K.F Service
Trace for future sales followup 10/30/2000 11/7/2000 $0 T.L Sales
Trace for short-term service followup 10/30/2000 7/31/2001 $0 K.F Service
Make calls to any prospect previously unavailable 11/8/2000 12/1/2000 $0 T.L Sales
Re-call potential prospects with wishing happy holidays premise 12/4/2000 12/29/2000 $0 T.L Sales
Perform searches for any clients captured during review and holiday calls 11/8/2000 7/31/2001 $0 K.F Service
Trace review/holiday calls for future sales followup 11/8/2000 12/29/2000 $0 T.L Sales
Trace for short-term service followup 11/8/2000 7/31/2001 $0 K.F Service
PROGRESS REVIEW WEEK 1/2/2000 1/5/2000 $0 Both Sales/Service
Review sales efforts to date, create new Milestone chart for next 6 months 1/2/2000 1/5/2000 $0 T.L Sales
Review service efforts to date, create new Milestone chart for next 6 months 1/2/2000 1/5/2000 $0 K.F Service
Totals $0