Even as virtual meetings become increasingly common, a new study from the Cornell Center for Hospitality Research (CHR) focuses on the specific strategic advantages of face-to-face meetings for large groups. The report, The Future of Meetings: The Case for Face-to-Face, was written by Christine Duffy, President and CEO of Maritz Travel Company, and Mary Beth McEuen, Vice President and Executive Director of The Maritz Institute. McEuen notes that the report identifies three key reasons for face-to-face meetings: 1) to capture attention, especially for new concepts; 2) to inspire a positive emotional climate; and 3) to build human networks and relationships. "Face-to-face meetings possess the unique ability to spur action and drive business results through creating powerful, emotional ties to your business mission and message," she says. "The fact remains that there's no substitute for meeting in person when you want to build emotional support and develop relationships." The study, which is part of CHR's Industry Perspectives series, is available at @@http://www.hotelschool.cornell.edu/research/chr/pubs/perspective/
The International Association of Exhibitions and Events (IAEE) Social Media Task Force recently published a white paper entitled How to Properly Use Social Media to Enhance and Promote Your Event. Led by co-chair and lead writer Michelle Bruno, President of Bruno Group Signature Events, and co-chair Joyce McKee, President & CEO of Joyce McKee & Company, the report focuses on a number of key elements affecting exhibition organizers and exhibitors, including research, marketing, strategies, case studies, legal issues and the benefits of social media. Main elements of the white paper include insight into the research, benefits and strategies for social media. An excerpt: "Social media practices can benefit event organizers in a number of ways, including brand extension, access to online member/customer networks, ability to deliver real-time customer service, opportunity to offer collaborative educational programming, advertising, promotion and public relations, potential reduction in marketing and communication costs and opportunities to implement green event practices." The white paper can be downloaded at @@http://www.iaee.com/pdf/SMTF_White_Paper_LORES_2010
A new business traveler survey conducted by Deloitte's Tourism, Hospitality & Leisure (THL) practice predicts an increase in corporate travel for 2011, which would be a welcome boost in customer demand for the hospitality and travel sectors. By the end of 2011, 80% of business travelers surveyed predict they will take more or the same number of business trips than they did in 2010, with a similar number (79%) indicating that they will also spend the same or more. Due to the recession, 72% of survey respondents said they had monitored their business travel expenses in various ways this past year – cutting back on overall travel costs (37%); staying away fewer days (33%); spending less on food/restaurants (32%); booking less expensive hotel rooms (21%). The Deloitte survey also found that the overall hotel experience is important to a majority of business travelers. For example: roughly two-thirds of respondents (68%) agreed that they often work in their room, and that they expect a lot more from a hotel than just a clean room and comfortable bed (65%). Further, almost four out of five respondents felt that high-speed Internet (79%) and free parking (77%) were important amenities to them when staying at a hotel for business. For more, go to @@http://www.deloitte.com/view/en_US/us/Industries/Tourism-Hospitality-Leisure/index.htm
American Express Business Travel recently announced pricing projections from its annual Global Business Travel Forecast, indicating increases of up to 10% are expected for airfare and hotel rates in key markets around the world, effectively bringing prices back to pre-recession levels. Asia is expected to lead pricing increases, with established Western economies seeing less pricing expansion. The annual Forecast, produced by American Express Business Travel's Global Advisory Services research practice, includes pricing predictions for 89 types of airfares, as well as expected negotiated hotel rates for mid-range and upper-range properties in 317 North American cities, 36 Latin American cities, 127 European and Middle East cities and 55 Asia/Pacific cities. The Forecast also contains pricing trends related to ground transportation and meetings spending in key regions around the world, as well as a section on what companies and managed travel category managers should be doing to curtail their impact on companies' bottom and top lines today. For more information, click here.
The Incentive Research Foundation (IRF) has announced that its 18th Annual Incentive Invitational will be held April 27 through May 1, 2011, at ARIA Resort & Casino in Las Vegas. The IRF Invitational brings together top incentive buyers and corporate decision makers, along with incentive professionals from leading travel organizations around the world, for a host of business networking events and educational seminars. In addition to ARIA Resort and Casino, co-hosts in 2011 include The Cosmopolitan of Las Vegas, Wynn/Encore, The Venetian Palazzo Resort Hotel Casinos, Las Vegas Convention & Visitors Authority, AWG Inc. (Alan Waxler Group), Destinations by Design, USA Hosts, MGM Resorts Events, JW Marriott Las Vegas, Maverick Aviation, Richard Petty Driving Experience, and other destination hosts and sponsors in Las Vegas. For more information on the 18th Annual Incentive Invitational, go to @@http://invitational.theirf.org/ or contact the Opus Group at 305-234-1077 for information on participating as a sponsor or hosted buyer attendee.
Meeting Professionals International (MPI), in partnership with American Express, recently released a summary of its annual FutureWatch survey, revealing trends that will affect the meeting and events industry in 2010. Respondents agreed that industry conditions will begin to improve in the second half of the year or in 2011, with 41% of suppliers and 28% of planners predicting gradual industry growth in 2010. Meeting and event planners anticipate a 2.8% increase in meetings held and a 4.5% increase in attendance over the next year. Spend per meeting and overall budgets will be the slowest to rebound. Other key trends include:
The full FutureWatch 2010 report is available at @@http://www.mpiweb.org/Education/Research/FutureWatch.aspx
The November/December issue of Engagement Strategies Magazine is in the mail! Here's a look at what you'll find inside:
In this revealing Q&A, White Castle owner Dave Rife talks about how his experience on the TV show Undercover Boss helped him discover how the old truths about engagement still apply. To make sure you get your copy of Engagement Strategies Magazine, go to @@http://www.enterpriseengagement.org/account/login/ and update your subscription today!
"It's a totally different environment from when I sold back in the 1990s," says Jamie Jones, Novo Nordisk Sales Director. "So we wanted to pay attention to those Generation X and Generation Y salespeople to make sure we had a program that encouraged behavior and offered rewards consistent with how those people think. Read more in the next issue of Engagement Strategies Magazine.
An in-depth review of a 2009 annual meeting of a major healthcare provider reveals that a comprehensive engagement strategy can help increase sales and boost profits. Researchers from the ROI of Engagement Group and the Enterprise Engagement Alliance recently measured the return on investment (ROI) from a gathering of brokers and management personnel that featured a program of training, relationship building and networking opportunities designed to increase sales and profits in specific markets and engage channel partners. The report, The 'ROI in Channel Partner' Conferences – A Case Study, found that the engagement program translated into brokers presenting and quoting the company's products more frequently, which in turn resulted in significantly stronger reported sales from event participants. Specifically, 94% presented the firm's products more often; 98% quoted them repeatedly; and 90% reported greater sales of these products. This is the third major research study released by the Enterprise Engagement Alliance examining the effectiveness of corporate engagement strategies. The company in question (referred to in the report as "Allsante, Inc." at the company's request, due to competitive reasons) wanted to measure the effectiveness of the "Allsante, Inc. Encounter" conference and come up with hard data against which to make decisions about improving future programs. Initial results reveal that the program had a profound impact on the way brokers thought and felt about Allsante, its products and its people. A copy of the study, The 'ROI in Channel Partner' Conferences – A Case Study, can be downloaded at: @@http://www.enterpriseengagement.org/
Does your organization have a transactional website to handle bulk sales of merchandise to qualified buyers or points programs for incentive companies? The incentive industry is one of the few areas of business that doesn't have a true transactional model to support its end-users and incentive companies. The Corporate Rewards Exchange is a cooperative effort of leading brands, incentive fulfillment firms and incentive companies to build a new distribution channel for sale of gifts to corporations, incentive companies and marketing services firms. The CRE enables brands to tap into a large ad hoc market for bulk gifts and rewards in a way they can carefully control, providing a powerful means for incentive companies to more effectively use their products in reward programs via a highly automated billing, redemption, tracking and customer service system. It's designed to support all of the current players in the incentive marketplace by providing a more efficient means of offering rewards to end-users and incentive companies, at a very low cost. For more information, please contact us for a demo.
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