How do you source and manage vendors for live events?

1 Define your needs

Before you start looking for vendors, you need to have a clear idea of what you need from them. What are your event objectives, theme, audience, format, and location? What are the essential services and products that you need to deliver a successful event? How much can you afford to spend on each vendor? How flexible are you with your requirements and expectations? By defining your needs, you can narrow down your search and communicate effectively with potential vendors.

2 Research and compare vendors

Once you have a list of your needs, you can start researching and comparing vendors that match your criteria. You can use online platforms, directories, referrals, reviews, and testimonials to find vendors that specialize in live events. You can also attend trade shows, exhibitions, and networking events to meet vendors in person and see their work. When comparing vendors, you should look at their portfolio, reputation, experience, availability, pricing, and value proposition. You should also consider their ethical and sustainability practices, such as how they source their materials, reduce their environmental impact, and support social causes.

3 Negotiate and contract vendors

After you have shortlisted a few vendors that meet your needs, you need to negotiate and contract them. You should contact each vendor and request a proposal that outlines their scope of work, deliverables, timeline, and costs. You should also ask them about their terms and conditions, cancellation policy, insurance, and contingency plan. You should review each proposal carefully and compare them with your budget and goals. You should also ask for references and samples of their previous work. You should negotiate the best deal for both parties and finalize the contract in writing.

4 Communicate and collaborate with vendors

Once you have contracted your vendors, you need to communicate and collaborate with them throughout the event planning and execution process. You should assign a point of contact for each vendor and establish regular communication channels, such as email, phone, or online tools. You should also share your event vision, strategy, and expectations with your vendors and solicit their feedback and suggestions. You should also monitor their progress and performance and provide them with timely and constructive feedback. You should also acknowledge their achievements and challenges and appreciate their efforts.

5 Evaluate and review vendors

After the event is over, you need to evaluate and review your vendors. You should measure their performance against the contract and your goals and identify their strengths and weaknesses. You should also collect feedback from your attendees, staff, and stakeholders on their satisfaction and experience with the vendors. You should also conduct a debrief session with each vendor and discuss the outcomes, challenges, and lessons learned. You should also thank them for their work and provide them with a testimonial or a review.

6 Build and maintain vendor relationships

The last tip is to build and maintain long-term relationships with your vendors. You should keep in touch with them after the event and follow up on any outstanding issues or payments. You should also share your future plans and opportunities with them and invite them to collaborate again. You should also refer them to other event organizers and promote their work. By building and maintaining vendor relationships, you can foster trust, loyalty, and mutual benefit and create a network of reliable and quality vendors for your live events.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?