Increase the ROI of Meetings
December 3rd, 2009 by Carrie Plescan, under Travel and Leisure. No Comments
Most event and meeting planners have probably already encountered companies that want more value than ever before from their conferences, meetings and other events. While this can create more work for you, there are some things you can do to work out the kinks long before they happen.
Think Replacement
If you need to help the company save money on a tight budget, replace these meeting parts:
Replace the welcome reception with a working lunch — this will let people meet and network, as well as enjoy a meal together Replace the open bar with specialized team building exercises or brain storming sessions — these programs are usually find and have a much better chance of improving the ROI than a bunch of drunk employees blowing off steam. Replace entertainment with a spa wellness trip, for more refreshed employees ready to work. Replace land based venues with a cruise meeting, and save as much as 40%. Cruising is all-inclusive. Planners may be surprised to know that meeting rooms, meals, A/V equipment and luxury accommodations are all included in one low price.
Think Reduction
What if the customer says, “Okay, these cost savings are great, let’s get rid of the reception, evening entertainment, and and welcome reception open bar meet-and-greet! So what do we do on the last day, then?”
Cut out those events, and advise your client that they will save on those expenses that don’t improve ROI on the cost of the meeting event. They can also eliminate the last night’s hotel bill.
By just replacing the non-ROI generating activities and events, you have already increased the value of the meeting. Your client will be grateful for that for a long time. And happy, satisfied clients translate to more meeting planning business for you in the future. So, it pays to find every way to cut out unnecessary expenses and increase meeting ROI for your clients.
Increase meeting ROI with a cruise event. Cruising offers a savings of as much as 40% of the cost of conference center venues, since a cruise is all inclusive. Go to Seasite.com to use the state-of-the-art cruise meeting planner, and make your next company event a cruise event!
