Maximizing$Mee1ngs$$cms05.3rdgen.info/sites/158/resource/Fernando Lonergan - Maximis… · Strategic Meetings Management put simply is where an organisation takes a strategic approach

New Demands, New Capabili1es

Maximizing Mee1ngs Fernando Lonergan Manager, CWT Mee,ngs and Events, Pacific Zone 4 May 2011


Mee1ngs and Events: Where Savings Meet Success

Agenda •  Mee*ngs and Events: Where Savings Meet Success

•  Defining the M&E market •  Key learnings •  GeCng started in 8 steps


Research Objec*ves

The study focuses on four main objec1ves:

•  Clarify the mee*ngs and events (M&E) market

•  Help companies evaluate their M&E budgets

•  Iden*fy key indicators of M&E performance

•  Explain best prac*ces for op*mizing M&E

management


US$650 billion global M&E market

Strategic Meetings Management put simply is where an organisation takes a strategic approach to managing all of there meetings and events

Source: CWT Travel Management Ins*tute

The global M&E market can be divided into five main categories



M&E spend reaches 35-‐60% of the transient business travel spend



Only a third of companies organize M&E centrally



M&E service providers



Es*mated savings poten*al: 17.5% of M&E spend over 3 years



GeXng Started

•  Best prac*ce can bring 10-‐25 percent savings on M&E spend and increase return on investment

•  Leverage synergies with transient travel while offering the specific exper*se required for successful M&E

•  CWT have iden*fied 8 steps to op*mize mee*ngs and events management

  transient travel while


Step 1: analyze spend and set up the right M&E organiza*on


Average spend on M&E cost items per type of mee*ng



Step 2: design an M&E strategy and policy


Only 33% of organiza*ons have a M&E policy



Step 3: create an annual M&E budget and calendar


50% of planners have a budget for each event



Step 4: select and nego*ate with suppliers


Price is key but not the top selec*on criterion for M&E agencies



Step 5: establish formal process


5 key elements in M&E planning

•  Define your M&E objec*ves

•  Establish a formal approval process

•  Plan sufficiently in advance

•  Des*na*on selec*on

•  Outsource where possible to leverage skills


Step 6: implement efficient acendee registra*on


The majority of companies s*ll use basic desktop tools to manage rego



Step 7: handle payment and reimbursement


Only 10% of companies use dedicated cards to pay for mee*ngs and events



Step 8: evaluate M&E performance and compliance


Summary •  Companies spend an es*mated 0.5-‐1.5% of revenues on M&E

•  35–60% of transient travel spend can be associated with M&E

•  Best prac*ces can bring 10-‐25 percent savings on M&E spend and increase return on investment

•  CWT have iden*fied 8 steps to op*mize mee*ngs and events management

•  Can you afford not to act?


Thank you Meetings and Events: Where Meetings and Events: Where Savings meet Success, research is available on our website www.cwtmeetingsevents.com.au

Documents

Maximizing$Mee1ngs$$cms05.3rdgen.info/sites/158/resource/Fernando Lonergan - Maximis… · Strategic Meetings Management put simply is where an organisation takes a strategic approach