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Meetings Industry and TARP how to value the importance of meetings in your organization
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Trumping TARP
Christine DuffyCEOCEO
Maritz Travel
Meetings Media
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May 27: Citywide Solutions: Leverage Your Massive Meeting
Citywide Solutions: yLeverage Your Massive Meeting
May 27, 20091:00 p.m. EST/12:00 p.m. CSTp p
11:00 a.m. MST/10:00 a.m. PSTwww.meetingsfocus.com/webinars
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Today’s Sponsors
Today’s Speaker
Christine Duffy
Transforming Meetings, Events, and Incentives in a Post-AIG World Managing Perceptions Creating Val e andAIG World: Managing Perceptions, Creating Value, and Measuring Impact
Christine Duffy, President and CEOA il 29 2009April 29, 2009 Meetings Media Webinar
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 8
The “Perfect Storm” for the IndustryThe Perfect Storm for the Industry
Media Feeding “Goldman Sachs Moves Event to New York from
Miami”
“AIG-Effect Tones Down Lavish Business Events”
gFrenzy
“Wells Fargo Cancels Las Vegas Trip”g p
Politicians F i th “You can’t go take a trip to “Let's get this straight: TheseFanning the
FlamesYou can t go take a trip to Las Vegas, or go down to
the Super Bowl on the taxpayers’ dime,”
- President Barack Obama
Let s get this straight: These guys are going to Vegas to roll the dice on the taxpayer dime.
They're tone deaf. It's outrageous."
Rep Shelley Moore Capito
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 9
-Rep. Shelley Moore Capito (R-WV)
Government Intervention & ReactionGovernment Intervention & Reaction
New Government Regulation
Stimulus package: any company who took or will receive government assistance will be subject to new Treasury regulations on “luxury” travel.
Business
56% of corporate planners canceled one or more meetings
48% of corporate planners will reduce the number of meeting BusinessImpact attendees
56% of managers at Fortune 1000 companies are postponing or eliminating at least a portion of their incentive programs in 2009
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 10
Needed: Focused, Strategic CampaignNeeded: Focused, Strategic Campaign
GoalMake it safe for businesses to
“get back in the water”
Policymakers: change political calculationMedia: broaden and provide context to the storyStrategyBusinesses: tools to resist pressure
gy
Value to BusinessBusiness travel and events
Value to Communities
Change the Victim
The American worker is theMessages are a smart and cost-effective way to retain and develop employee talent, generate ideas and share
knowledge that drives future
Business events and meetings are the lifeblood of
many local communities.
The American worker is the unintended victim of the
demonization of business meetings and incentive travel
programs.
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 11
knowledge that drives future business growth.
How Companies RespondedHow Companies Responded • Short-term responses to the criticism have been swift, with several
companies canceling all meetings, events and incentives
• Nearly half of respondents (48%) also feel there are non-financial risks associated with running ME&I programs in the current economic climate.
D5. Do you, or does your organization feel there are risks -- beyond financial --
associated with running meetings, events, and/or incentive trips in this economic
Negative stakeholder perception
Stakeholder perception of value
and/or incentive trips in this economic climate? (n=89)
No37%
Don't know15%
perception of value
Bad press/PR
Market pressuresYes.
Examples are:
48%
Maritz Marketplace Poll January, 2009
*A k d f l f h h d d h h i b d i h d d h h i b d d i D2
Low attendance48%
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 12
*Asked of only of those who responded that their budgets either decreased or they expect their budgets to decrease in D2 and/or D3.
Managing PerceptionsManaging Perceptions
What are the negative images
• Spending frivolously while laying people off
that we need to combat?
• Spending frivolously while laying people off
• Serving only the privileged
• Another example of excess compensation
Insensitive to environmental impact• Insensitive to environmental impact
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 13
Managing Perceptions: What are the take-aways?Managing Perceptions: What are the take aways?
H i th d ’t t k t f t• Hoping the press doesn’t take note of your event is not a strategy
• Experiment with meaningfully different meetings that address the shift in cultural values
• Make “the common good” a centerpiece of meetings of “the privileged few”meetings of the privileged few
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 14
Managing Perceptions: Redefining what “ l”“special” means
N t j t ‘l ’• Not just ‘luxury’ anymore• Meeting “special” people• Privileged access• An emotionally impactful experience• Team happenings• Including my familyg y y
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 15
And now for the good news…What You hl l dDo Is Highly Valued!
• Nearly all (99%) respondents of a recent Maritz market study feel their organizations value the benefits of their ME&I programs; nearly two-thirds feel their ME&I programs are highly valued.
D9. Overall, how much does your organization value the benefits/effectiveness of meetings, events, and/or incentive
travel?* (n=93)
Valued
Don't know1%
somewhat36%
Highly valued63%
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 16
While politically expedient, it creates enormous d i k f h i idownstream risk for the organization
• Eliminating meetings and events severely impacts revenue growth
• Eliminating incentive travel programs lowers sales force productivity, decreases high-
f i l l d iperforming employee morale and increases attritionEli i ti t t h th• Eliminating customer events hampers the organization’s ability to compete and differentiate its products or servicesdifferentiate its products or services
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 17
Societal Shifts may have Greatest Impact in h lthe long term….
L being edefined What is sociall• Luxury being redefined; What is socially acceptable?
• How does Corporate Social Responsibility• How does Corporate Social Responsibility manifest itself inside of Meeting and Incentive programs?
• The Gaming Generation joins the workforce• The Baby Boomers may never retire
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 18
Voice of Participant becomes critical in design, d li & idelivery & impact…
Alt ti h f t• Alternative approaches for engagement• Need for inclusion of choice• Content on Demand• Integration of Live and Virtualg
“Focus on customization of individualFocus on customization of individual experience for success”
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 19
Impact: Creating a “total solution” for resultsImpact: Creating a total solution for results
Impact
The real goal we are trying
to achieve
All the things that
Enabling ProgramsAll the things that
must be true for us to drive results
(things that drive performance)
How we get
(things that drive performance)
Execution Capabilities(the things we’re good at doing)
How we get events done
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 20
Impact: What are the take-aways?Impact: What are the take aways?
E ll d i d ti h th i t t d• Every well designed meeting has three integrated phases:
before the meeting– before the meeting– the meeting– after the meetingafter the meeting
• Manage the end-to-end process, not just the event
• A total solution for meeting impact requires a coalition of the committed
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 21
A Model for Success
Value Spending & Participant
A Model for Success
CreationSavings Engagement
TRANSPARENCY ACROSS THE ORGANIZATION
Measure, report and improve
Meeting goals connected to business goals
Strategic sourcing generates significant savings, clearly documented by program
Actively engage participants, planners and meeting owners to co-create the experiencebusiness goals
Measurement to determine ROO and ROI before, during and after operation
documented by program Identifies and manages
contract risk Assures compliance with
your reputational risk
co-create the experience Participants more
clearly drive venue, agenda, content and activitiesand after operation
Determine how individual behaviors and attitudes contribute to
your reputational risk guidelines for program design and sourcing
activities Added layer of protection
around decisions
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 22
organizational success
Lastly, a Guide for ‘Responsible’ Meetings and
M it h k d i lt ti ith th f ll i t d l
Events…
• Maritz has worked in consultation with the following groups to develop a ‘model board policy’ for any company receiving government funds.
– The American Hotel and Lodging Association– Destination Marketing Association International,– International Association of Exhibitions and Events– Meeting Professionals InternationalMeeting Professionals International– National Business Travel Association– Professional Convention Management Association
S i t f I ti T l E ti– Society of Incentive Travel Executives– The U.S. Travel Association
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 23
Key Components of the ‘Model Board Policy’
E h d ti t i ti / iti t l
Key Components of the Model Board Policy
• Each proposed meeting, event or incentive/recognition travel with a cost exceeding $75,000 must be supported by a written business case identifying a specific business purpose.
• Total annual expenses for meetings, events and incentive/recognition travel shall not exceed 15 percent of the company’s total sales and marketing spend.company s total sales and marketing spend.
• The amount spent for an employee performance incentive/recognition event shall not exceed two (2) percent of th t t l ti f li ibl ti i t 10 t fthe total compensation of eligible participants or 10 percent of total award earners’ compensation.
• At least 90 percent of incentive program attendees shall be p p gother than senior executives (as defined by applicable Treasury Department guidelines) from the host organization.
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 24
Key Components of the ‘Model Board Policy’
• Performance incentives shall not promote excessive or i k ki i l i f fi i l l
Key Components of the Model Board Policy
unnecessary risk taking or manipulation of financial results.• All internal meetings or events attended only by senior
executives (as defined by applicable Treasury Department e ecut es (as de ed by app cab e easu y epa t e tguidelines) and/or board members shall be devoted to specific business purposes, and participating senior executives shall be responsible for any expenses incurred for non-business relatedresponsible for any expenses incurred for non business related activities.
• The CEO of the company shall certify to the board at least ll th t th f i li i b i f ll d dannually that the foregoing policies are being followed, and are
sufficient to provide reasonable assurance that the company’s expenditures for such purposes are not excessive.
• The process for approving meetings, events and incentive/recognition travel, and the procedures for assuring adherence to this policy will be subject to independent audit to
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 25
adherence to this policy, will be subject to independent audit to confirm policy adherence.
Our Response Must Be Aggressive & OngoingOur Response Must Be Aggressive & Ongoing
We Must Actively Shape Oury S p OOperating Environment
orOthers Will Shape it For Us
PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 26
Q&A
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TAKE10
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May 27: Citywide Solutions: Leverage Your Massive Meeting
Citywide Solutions: Leverage Your M i M tiMassive Meeting
Join Meetings Media and Margie Johnson to learnhow to leverage your massive piece of potential
b i ith CVB d f ilitibusiness with CVBs and facilities.
May 27, 2009y ,1:00 p.m. EST/12:00 p.m. CST
11:00 a.m. MST/10:00 a.m. PSTwww.meetingsfocus.com/webinars
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CMP Credit Instructions
Thank you for joining us for “Trumping TARP”
This webinar is worth 1 points toward the initial CMP application and 1This webinar is worth .1 points toward the initial CMP application and 1
point toward recertification through the CIC.
To receive CEU credits for this webinar:
Download the webinar handouts from the drop-down menu on the left
hand side of your screen.
Print out this slide from the handouts.
Include the printout with your CMP application formInclude the printout with your CMP application form.