According to American Express Meetings & Events, over 85% of respondents indicated having similar or increased levels of meeting activity at their venue in 2016, regardless of planner loyalty. Venues are reaping the benefits of increased meeting growth, new construction, and rates – and for the first time since 1981, occupancy rates are at an all-time high.
In our new Cvent Planer Loyalty Study, we took the pulse of the meeting and event industry using real group business data. We explored what actually motivates planners to return to trusted venues and how venues can better prepare. When executed correctly, repeat business typically requires minimal additional marketing efforts and leads to a stronger working relationship between the venue and planner.
We surveyed 500 planners and 500 venues a series of questions and categorized them according to generation. This study compares why meeting and event planners return to venues with the factors hospitality professionals believe influence those decisions. In their comparison, venues learn what small changes they can make to attract more repeat business. Here are some key takeaways from the study:
- Planners are much more likely to return to a trusted venue than hospitality professionals initially thought – by a margin of 24 percent.
- Millennial planners rely more heavily on recommendations than Gen X or Baby Boomer planners.
- Word-of-mouth and attending a conference or event account for 69% of their awareness quotient.
- 58% of planners said they were less than “Extremely likely” to recommend a venue that meets all their expectations.
Using first-hand data, hospitality professionals get an inside look at the planner perspective and have the opportunity to improve group business sales and marketing from the inside out.
Download the complete study for the trends, patterns, and expectations reported by meeting planners this year. You’ll get the full breakdown by age group for a detailed, up-to-date understanding of the meeting and event industry overall.