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20 August 2004

Do you want to meet major buyers?

Reference number: 06704

1.          Stansted Meet the Buyers - Summary

 

The 4th Stansted Meet the Buyers is scheduled to take place on 22nd & 23rd September and BAA

 

 The primary objectives of the event are:

 

To equip suppliers based in the Stansted economic area (30 mile radius of the airport), to more effectively market their goods and services to, and tender for, contracts with major businesses based at, or in close proximity to Stansted Airport or who are significant first tier suppliers to BAA Stansted Ltd.

 

To educate local companies on how best they can fit into the supply chain for Airport based organisations and BAA Stansted Ltd.

 

2.                  Key elements of the event

 

“Meet the Buyers” has a number of key features, which enhance and increase the opportunity, and ability, for local companies to win business from local, regional, and national buyers.

 

Ø       Pre-Event Training – The training prior to the Event develops the sales skills and motivation of local companies to get the most out of “Meet the Buyers”.

Ø       Supplier Networking – A culture of networking and inter trading is facilitated at the event with companies being encouraged to do business with other suppliers at a sign posted “Networking Area”, complete with networking board and specially designed networking cards.

Ø       Matching procedure – A key activity is to explore with the buyers the variety and volume of purchasing requirements. Using this information we can ensure that local suppliers are attracted to the event who have significant and real new business opportunities.

Ø       Pre-arranged appointments – The success of the event rests upon the matching of buyers and suppliers (see above) and then using the detailed information sent to all attending suppliers before the Event a schedule of appointments is set up in advance of the event.

Ø       Detailed evaluation – An essential element of the event is post event research of participants that seeks to identify the success of the event in terms of business won for local companies and provides a close insight into the effect on the event has had upon the local economy.

Ø      Low cost – the low cost of attending Meet the Buyers would be retained. Also, more added value would be contained in the “programme” of events leading up to the Meet the Buyer Event itself.

 

3.                  The buyers who attend the event

 

The buyers who attend the event are broken down into the following groups:

 

1.      Airport based buyers:- Key targets include airlines, caterers, ground handlers, building contractors, etc. It should be noted that the purchasing function for many of these organisations is currently off Airport. Thus further underlining the need for the event to help local suppliers to meet these organisations by bringing their purchasing managers to the event for them to sell to.

2.      BAA suppliers: The Enterprise Project has meant a major reduction in the number of 1st tier suppliers. Our past work with BAA Heathrow Ltd. indicates that BAA has over 300 key suppliers. These companies will be prime targets as buyers for the Event.

3.      Major regional buyers: Drawn from both the public and private sector. In particular we will target the attendance of the County Council as a “super buyer” at the event. Other examples include, Local authorities, central government departments, public utilities/quasi public sector, rail companies, local Hospital Trusts, Consumer and Industrial products manufacturers, computer and financial headquarters, building societies, leisure groups, accountancy firms, publishers, advertising agencies, media groups etc. All should be based within North East London, Essex, and Hertfordshire.

 

4.         Over £4 million of business generated

 

The main findings of a survey of participants at last year’s event are:

 

1.                           £62,700 of business was transacted between buyers and suppliers within 6 weeks of the event and the responding suppliers estimate this figure will rise to £4,065,700.

2.                           38 buying organisations attended the event.

3.                           39% of responding buyers have already placed business.

4.                           A total of 252 delegates attended from 202 supplier companies.  This year more were from within the key catchment area. A different pricing policy of £300 (rather than £95 for local companies) for companies outside of the Stansted economic area (a radius of 30 miles from the airport) helped to achieve this focus.

5.                           On leaving the event 100% of buyers say they would probably or definitely do business with suppliers met at the event.

6.                           In the exit survey 61% of suppliers said they have a good or very good chance of doing business with buyers met at the event. After six weeks 49% of responding suppliers have won or predict they will win, business as a result of the event. This figure is significantly higher than in 2002.

7.                           On leaving the event all of the buyers and 98% of the suppliers said that they would attend a future event.

8.                           Over 3,600 sales presentations were made over the 2 days.

9.                           97% of suppliers and 100% of buyers felt the organisation was either excellent or good.

 

5.         For Further Information:

 

Call Stuart Thomas on 0207 700 0008 or stuart@business-business.co.uk