Why Hosted Buyer Programs Are a Win-Win Idea
April 11, 2017
A Hosted Buyers Program (HBP) brings together qualified buyers for brief one-to-one meetings with multiple suppliers in a given vertical. HBPs are becoming increasingly popular as supplementary as well as complementary events to trade shows because they provide a winning formula for delivering tangible and measurable success to all parties involved.
For Suppliers
The key premise of a genuine HBP is that it brings pre-qualified buyers to meet with the suppliers. The vetted process is usually based on key parameters such as a buyer’s primary business or professional role, buying authority, organization size and more. This ensures that suppliers do not have to sift through long lists of leads from an organization, trying to single out genuine decision-makers from casual booth visitors.
Whether providers are trying to explore new verticals or to expand their business in an existing market, HBPs can be a great opportunity to connect with established players who could potentially benefit from their products and services. Since a set number of appointments are guaranteed to suppliers at a hosted buyer event, they can expect exceptionally high returns with lower risk even if the initial investment is on the higher side.
For Buyers
Buyers get an opportunity to meet with a wide range of suppliers who can potentially help them with new innovations, cutting costs and expanding their operations. Usually, each meeting lasts only 10-15 minutes and buyers are not expected to commit any additional time, leaving them free to further explore only the most promising pitches.
In addition, travel and accommodation expenses for Buyers participating in an HBP are covered by the organizers, often partially funded by suppliers. Many event organizers also bundle registration to exhibit floors and education programs into the hosted buyers experience, thus making the investment of their time in the program even more worthwhile.
For Organizers
By bringing the procurers and suppliers together at a venue, organizers help all parties involved drastically cut down on their year-round business travel and marketing expenses. HBPs provide suppliers an opportunity to drive innovation in the industry by exposing buyers to unexplored opportunities which they may miss otherwise. This in turn, helps the HBP organizers strengthen the influence of their event’s brand in the industry, making it a must-attend event for both established as well as upcoming players in their space.
Finally, in the last few years, the availability of smart matchmaking and networking technology platforms that can also automate the process of generating appointments based on complex business logic, has taken the pain out of organizing and managing hosted buyer programs. Now the HBP organizers can focus completely on providing a superlative experience to buyers and suppliers onsite without getting bogged down by cumbersome logistical operations.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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