Our biggest savings of the year
GlobeSpan Meeting Planners, Inc.
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 Revenue||GlobeSpan’s Commission|
|$1 million-$2 million||6.1%|
|$2 million-$3 million||6.2%|
|$3 million-$4 million||6.3%|
|$4 million-$5 million||6.4%|
|$5 million-$6 million||6.5%|
|$6 million-$7 million||6.6%|
|$7 million-$8 million||6.7%|
|$8 million-$9 million||6.8%|
|$9 million-$10 million||6.9%|
|Over $10 million||7%|
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.
|Year 1||Year 2||Year 3|
|Resource One Referrals||$4,200||$7,200||$10,800|
|Direct Cost of Sales||Year 1||Year 2||Year 3|
|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:
- Expensive, full-color collateral material, letterhead and business cards in any quantity needed.
- Access to over 210 partners in 50 offices who can assist with any questions/need for destination information, recommendations, etc.
- Access to the HelmsBriscoe intranet which provides detailed hotel/resort information and site information which can be provided to the clients in minutes.
- 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.
- 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.
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.
|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|