But thanks to periods of economic stability, for the first time in a decade, these always-on-go folks will have time to take a breath and think strategically, according to Meeting Professionals International’s Meetings Outlook, 2015 Spring Edition. It was developed in partnership with Visit Denver.
This year has been, and will continue to be, defined by intelligent growth for the meetings and events industry, the report found.
For starters, 60 percent of survey respondents predict an increase in live events, while 56 percent predict an increase in virtual events. Part of the reason: Young professionals are realizing the value of face-to-face networking.
Other key findings:
- 74 percent of those surveyed predict better business conditions.
- Industry professionals plan to use mobile apps more strategically this year, including location-based technology for session check-ins and networking.
- Budgets are still a concern, so organizations plan to host more local meetings, compress meetings into shorter times and increase use of technology.
“It takes opportunity, resources and the desire to be able to think strategically to consider how to improve relationships and to be smarter with how folks use the tools in their toolbox,” said Bill Voegeli (MPI Georgia Chapter), president of Association Insights — the company that conducts the Meetings Outlook research. “Now is one of those rare times.”
While this is good news, opportunities also bring challenges. For instance, it’s a sellers’ market, so meeting professionals will need to contend with shorter lead times. As such, pop-up meetings are becoming more common. And sometimes, when attendance is low, venues tack on charges.
Budgets are increasing, but with a planned uptick in live events, resources won’t go as far. At the same time, food and beverage costs have increased, so organizations will need to come up with creative budget solutions (i.e. purchasing their own AV equipment, rather than renting from a venue.) The key: During budget planning, think long-term and out of the box.
It’s an exciting time for meeting professionals, and to help foster success, MPI lists some tips in its report:
- Offer attendees more engagement while gathering more data through your apps to help inform future meeting design.
- Crowdsource: Publicly display social media posts from attendees, such as comments and photos.
- Make your eRFPs pop with clear details, and consider working with CVBs to streamline the process.
“All of this is opening a new era for meetings, as attendee behavior data is going to explode — and it will help in shaping meeting design in multiple areas,” said Christian Savelli, senior director of business intelligence and research for MPI.
What do you think? Does your organization have a strategic plan? Are you doing things differently? Let us know.