Meetings - Bad times......hold more meetings

This week I thought that I'd do something different. I want to share a letter written by Bruce MacMillan, the president and CEO of Meeting Professionals Intl. The letter is presented in its entirety.

October 22, 2008

Dear Editor,
I’ve followed with interest the coverage of executive excess at AIG and comments by Attorney General Cuomo that led to the subsequent cancellation of most of AIG’s planned meetings, events, and conferences for the coming year. I, like most of your readership, bristle at reports of extravagant corporate spending especially under circumstances like these, and fully support the forceful righting of a ship that’s gone dramatically off course.

But as the head of a 24,000 member global community of professionals who pride themselves on designing and delivering meetings and events that generate business results in both good and tough economies, I want to offer caution on the hazard of making sweeping public business decisions that might frustrate the rebuilding of AIG as a successful enterprise and also inadvertently establish a new precedent for other businesses to follow.

The bringing together of individuals and organizations to share ideas, learn new skills, co-create solutions and craft new business initiatives are crucial to American business success, even more so in a dynamic, faltering, global economy. In an increasingly faceless world, effective human connections are a powerful business weapon. Meetings and events are valuable to the individuals who participate, the organizations they work in, and the customers they serve. The revenue derived from supplying the infrastructure, products and services employs millions of middle-class workers, including housekeepers, chefs, restaurant, and support staff. These jobs and the opportunities they afford contribute to the overall financial health of both these families and the communities in which they live.

The important role that face-to-face meetings and events play in connecting people and driving business success is undeniable. The Meeting Professionals International Foundation/George P. Johnson EventView study reveals that Fortune 1000 Chief Marketing Officers view meetings and events as having the highest ROI (Return on Investment) of any marketing channel. In an increasingly competitive global economy, the ability to create and deliver strategically-focused events contributes to business value, and helps organizations deliver results.
Tough economic times demand thoughtful and transparent examination of how money is spent. The unprecedented shift in marketplace fundamentals means that business leaders must evaluate the ROI of every investment decision. But even in these tough times, or maybe especially now, to remove meetings and events from the business strategy playbook is short-sighted and ignores the role meetings, events and incentives play in business and community success.

So cancel the senior executive spa getaway and royal hunting retreat, but hold on to that sales event, educational conference, trade show and performance incentive program … the future of our businesses and communities around the world depends on it.
Sincerely,
Bruce M. MacMillan, CA
President & CEO
Meeting Professionals International

Companies need to be encouraged to continue hosting and holding meetings......

Benjamin Cassim
Temasek Poly

MICE Venues - a 360 degree approach

I recently had the opportunity to make a trip the city of Yangon. While in Yangon, I visited the region of Bago - it is located from 80km outside of Yangon. It's one of the primary rice growing regions and is also famous for some of its pagodas. One of the interesting sites near the city centre of this region is the site of the original Kambawzathadi Palace. This was the residence of one of the 3 better-known monarchs of the country.

Foundations of the original palace were discovered at the site and the authorities rebuilt what is supposed to be a replica of the palace, including the king's bed chamber. Anyway, the site now stands as a sort of tourist attraction though lacking in the usual augmentation that accompanies such sites.

My first instinct was to view this place as a possible venue for M.I.C.E. activities. There are 2 fairly spacious halls - great for holding banquents, workshops, seminars and possibly exhibitions. However, this is where we need to take a 360 degree approach when considering venues for M.I.C.E. activities. Here are some points to note:

- the venue owner needs to be open to allowing the venue to be used for such activities

- the site needs to be accessible; this palace is a good 2-hr drive from the city of Yangon

- the site needs to be equipped with proper utilities - power supply, water

- the site needs to be equipped to host visitors for a considerable length of time (i.e. 2 hours or more); this palace does not have toilet facilities

- the site needs to look the part; although a palace, the grounds of this site were not reflective of the grandeur that usually represents a palace

I hope that some of the government officers I met in Yangon will be able to convey some of these points to the relevant authorities - yes I did bring this up with them. Just imagine - a royal banquet for important conference delegates or VIP buyers attending an exhibition being held on the actual site of one of the country's greatest rulers. Now that is what I call a value experience!

Exhibitions - it's the visitor experience, dummy!

As great a platform trade shows are in helping companies to effectively reach their target customer markets, the overall environment is clogged up with marketing and advertising noise. Most potential customers now possess well-developed filtering processes that weed out the unnecessary marketing noise. It is precisely in the face of such competition that trade shows possess the mettle to succeed. We are now living in what is termed the "experience economy". Everyone one - from the general public to the discerning business customer - is looking for the value-added experience.

Trade shows are very versatile marketing instruments. A single trade show offers multiple platforms for creating positive visitor/participant experiences - the exhibition floor, the complementing education programmes (seminars, workshops); and the ancillary actvities (the networking parties; golf). The organiser has so many areas in which he can build in opportunities for very positive experiences.

It has become imparent for trade show organisers to recognise this trend to valuing the overall experience, and to deliver this to trade show participants - the exhibitors, the sponsors, the visitors and the stakeholders. The areas where value can be added to the customer experience include:

• logistics
• customer service
• trade show content - programming
• networking opportunities
• right fit

I believe most trade show organisers are very capable and work hard at ensuring that their events remain relevant to the various industry segments. I also see more and more effort made in ensuring that there are ample opportunities for networking between all participants.

Customer service - the art of making a single attendee or exhibitor feel special - is one are where industry members will need to pay more attention to. This is an important element of the "experience economy" and can be very instrumental in separating a "good" trade show and a "great" trade show. It also goes a long way in ensuring repeat business - repeat exhibitors, repeat visitors, repeat sponsors. Great service also acts as a deflector for operational or content shortfalls. The overall experience sticks in the memory.

Exhibitions - target marketing at its best?

One of the many, but crucial, challenges facing companies/organisations is how to make the most efficient and effective spend of marketing dollars. This takes on added importance in current times. Here's my quick fix to this problem - tradeshows and exhibitions.

Tradeshows and exhibitions are platforms for business exchange. They bring members of an industry together with customers/potential customers of the industry. Tradeshows and exhibitions offer a myriad of benefits:

- they are a great way for companies to market, promote and brand themselves to targeted markets;
- they provide a cost effective platform for the launch of new products;
- they offer companies a means to test/investigate new markets;
- they offer companies a means to test new products;
- they are goldmines for information on industry progress and intelligence
- they are a one-stop-centre for companies and individuals who desire to interact with members of the industry;
- they provide opportunities for networking - often resulting in some form of sales or business development.

The list can go on. Industry experts will tell you that tradeshows and exhibitions are a great avenue for companies and organisations to reach targeted markets in a cost effective environment.

Yes, a lot of commercial activity today gets conducted via the "e-environment" i.e. the internet and over the web. However, the face-to-face conducting of business still has a very important role to play.....nothing beats a handshake.

So, tradeshows and exhibitions continue to live on. I say "Amen" to that.