Confronting Meeting and Event Planning Industry Challenges Head On

Just when we thought that our industry had turned the corner, there are signs that we may be in for another bumpy ride.

  • Skyrocketing oil pricing
  • Stock market fluctuations
  • Floods, earthquakes, tsunamis, and other natural disasters
  • Political unrest in the Middle East and other parts of the world

Connect the dots. The ripple effect will likely impact every sector from meetings to corporate events to incentive travel to team building.

What can we learn from the recent recession? How can event planners minimize dry spells? Here are a few strategies.

  1. Align your services with your clients' goals, objectives and desired bottom line results.
          Companies can no longer afford to focus on what's nice to do.
  2. Uncover core messages for their clients and employees.
          Find creative ways to reinforce them.
  3. Pinpoint barriers to success.
          Brainstorm with your client to generate breakthrough strategies.
  4. Identify cost-savings strategies.
    • offer all or part of an event on-site
    • use cost-effective but creative venues (e.g. campsites, beaches, botanical gardens, greenhouses, summer camps off-season, small art galleries, tea rooms, amusement parks)
    • scale down to 4 star properties
    • negotiate special offers with 5 star properties.
    • use inns and venues in nearby small towns (they really need the business)
    • have an alcohol free event
  5. Contact existing and former clients regularly.
    • Share articles and blogs that are relevant to their industries.
    • Give them leads and referrals.
    • Provide updates about the scope of your services.
    • Offer incentives for referrals.
  6. Maintain contact with companies that have requested quotes.
          They will eventually have other needs.
  7. Measure results.

    Here is one tool that can help. You can modify it for any type of event:

    Calculating Team Building R.O.I.

What other strategies do YOU suggest?
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