An article in today's Business Times quotes a recent global study conducted by CFO Research Services and American Expres (Amex), stating, "two thirds of respondents plan to keep in place or even bump up travel spending for existing clients, while 82 per cent of those polled will do the same for meetings with new clients or for business development". This is one of the several positive bits of news that has begun to appear in the media, pointing to a recovery of sorts for the meetings industry. Yahoo!!!
What caught my eye (in the same article) was a comment that some of the companies are now monitoring whether the time, money and effort spent on arranging and travelling to such meetings do result in revenue generation - sort of tracking to see if the event can be linked to new or additional business. Could this signal the emergence of stricter KPIs (key performance indicators) for evaluating meetings? I think this is important. It is heartening (as an industry practitioner) to see companies take meetings seriously. The success of a meeting should be measured in objective terms - this can only lead to a greater conviction in the benefits of holding face-to-face meetings. A lot of time, effort and dollars go into arranging and organising meetings. It is therefore only reasonable to want the meeting objectives to be not only met, but exceeded. Let's continue to cheer for the KPIs!!!
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I just wanted to say quickly that I'm impressed with your site after stumbling upon it in a Google search. New to the MICE industry, it was quite interesting browsing your posts and insight into the current trends and state of affairs. I'll be a regular reader from now on. Keep up the good work!
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