How a Destination Management Company (DMC) works?
Destination Management Company or a DMC is an intermediary firm that offers professional services for planning and execution of various programs and services that takes place out-of-town. Success and value factor of all such companies lie in years of industrial expertise serving in the local area, professional relationships and local resources.
A corporate meeting and events planner finds destination management company quite handy especially when organizing exhibitions out of the city. A few reasons to work with a DMC are;
- Extensive knowledge of transportation services, catering requisites, accommodation and various other facilities within the available budget.
- Good understanding of cultural norms, prospects and economic perception that helps avoid unnecessary expenses.
- Provide facilities that fit just perfectly with food, entertainment, staff and travel industries.
Distinguishing characteristics of a DMC
DMC is different than other travelling services with its ability to integrate completely with destination supply channel. Further distinction can be derived from a DMC that serves as a B2C as well as those operating in line of the travel trade typically as B2B. The best feature is utilization of the latest and innovative technological platforms facilitating communication, marketing channels and process transactions.
What DMCs do?
Primary function of a DMC is to garner comprehensive knowledge of area or region that it represents. This is possible by establishing healthy coordination with event logistics and activities services operating in similar market, which means they can be your immediate competitors as well. A DMC is highly-specialized consultant for almost every event taking place outside of the town.
Specialized service divisions
Destination management company, being a local consultancy firm can be divided into the following categorized according to the services;
- Program design that includes booking and selection of a venue, organizing different event activities as well as arrange decoration.
- Logistics management for instance setting event timeline, schedule, transportation and coordination on arrival and departure of guests.
- Supplier management that takes into consideration supplier price negotiation and vendor selection
- Accounting that deals with financial negotiations, share accounts information with prospective clients, payment and audit of vendor invoices.
A typical corporate event planner can be assisted by DMC with arrangement of transportation, meals, local activities and hotel accommodations. While establishing long-term relationship with different areas of hospitality industry, the firm’s primary service is planning and execution of the event itself that can be a gala dinner, conference, business gathering or a corporate trip.
Besides the local expertise, overall services of a DMC are beneficial throughout the planning process. It can also leverage the cost due to strong purchasing power of negotiating rates with local suppliers and vendors. One may even find the services useful to overcome the language barriers in countries other than English-speaking.
Most of the destination management companies fall under the Association of Destination Management Executives (ADME) that provides initial training, education and practice standards for workers. The ADMEis also involved with;
- Certification of DMC professionals and
- Work accreditation for DMCs
The details above would surely help you understand services of a destination management company and how you can exploit it best.