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SGMP Presentation Thursday, May 8, 2014

Breaking Barriers. Demystifying Meeting Value & ROI. SGMP Presentation Thursday, May 8, 2014. Presented by: Terri Woodin , CMP, CHSE Senior Director, Global Meeting Services Meeting Sites Resource. Twitter: @ MSR_Global. Confidential and proprietary information.

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SGMP Presentation Thursday, May 8, 2014

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  1. Breaking Barriers Demystifying Meeting Value & ROI SGMP Presentation Thursday, May 8, 2014 Presented by: Terri Woodin, CMP, CHSE Senior Director, Global Meeting Services Meeting Sites Resource Twitter: @MSR_Global Confidential and proprietary information

  2. Discuss industry issues and trends that impact meeting value & ROI Understand the key components of Strategic Meetings Management (SMM) & meeting value analysis Review specific metrics to define & measure success Know how to communicate real meeting value to senior management / key stakeholders Understand how robust technology drives Strategic Meetings Management (SMM) Goals For Today

  3. The Big Shift In Validating & Reporting Meeting Value…

  4. GBTA’s SMMP Definition “Strategic Meetings Management Program (SMMP) is a disciplined approach to managing enterprise-wide meeting & event activities, processes, suppliers & strategic goals / vision, & delivers value in the form of quantitative savings, risk mitigation & service quality.” Strategic Meetings Management Program (SMMP)

  5. Defining SMMP

  6. Strategic Meetings Management (SMM) A customized process to integrate key SMM components in phases and expanding capabilities based on your changing and evolving needs

  7. Meeting Management Structure Centralized – a meetings & event department is responsible for enterprise wide meeting & event planning and execution / spend management Decentralized – full and part-time meeting planners within organizational departments plan and manage their own meetings and events / seldom report savings, risk, value Clustered – key groups of meeting managers within a department support internal and external planners and track the meeting activity that they are directly involved in. Outsourced Preferred Supplier Program – Key elements of strategic meeting management are outsourced to preferred third party suppliers and take advantage of specialized services and volume buying. Hybrid Model – Combination of internal and preferred suppliers

  8. ROI Trends That Reshape Our Thinking On Meeting Value SMM still an emerging / maturing business practice Meetings under scrutiny / business plan approach required Increased expectations from senior management for improved planner productivity & ROI Meeting value reporting is essential to validate success Robust technology drives / validates meeting ROI / SMM

  9. ROI Trends That Reshape Our Thinking On Meeting Value Feedback from Meeting Managers 49% of planners are feeling pressured to enhance meeting results, measurable metrics and ROI What Senior Management Thinks Over 50% of CEO’s feel their organization is not getting maximum ROI from their meetings and events Over 40% of CFO’s are not satisfied with their company’s travel / meetings spend management • RECENT SURVEYS

  10. SGMP Trends • Government Meetings & Budgets Under Scrutiny • New Legistrative Oversight On Meeting Spend Allocation • Restrictions On High Profile Destinations, Golf & Spa Resorts • Inspector General Office Approval For Meeting Budgets Of $100,000 Or More • Senate Reviewing Bill H.R.313, Rolling Meeting Budgets Back To 70% Of 2010 Budgets • Government Shut Down / Sequester Has Multi Year Impact On Meeting Industry • Government Meeting Planners Must Demonstrate Added Meeting Value, Cost Savings, Contract Risk Reduction And ROI

  11. When management finds (or perceives) gaps, it’s a call to action AND HUGE OPPORTUNITY!

  12. GROUP EXERCISE How Do You Demonstrate Meeting Value To Senior Management? Determine three methods to demonstrate real meeting value to management

  13. Create An SMM Action Plan Around The Meetings & Events That Are Your Responsibility

  14. Needs Assessment / Research & Data To Get Started It all starts with senior management & their objectives, goals & vision for enterprise-wide meetings & events. • Before meeting with management, review: • Annual Report • Company Website • Mission and Vision Statements • Strategic Initiatives Announced By Company • Understand How The Organization Works

  15. Needs Assessment / Researchand Data To Get Started 12 Critical Steps to Roadmap & Business Plan How meetings are generated / approval process 1. Hotel Contract / Risk Reduction 5. Identify key stakeholders / core competencies Planning Processes / Procedures / Logistics 2. 6. Preferred Suppliers (services / evaluation / pricing / SMM outcomes / agreements) Meeting Needs Assessment / Goals & Objectives 7. 3. Hotel / Vendor Master Accounts / Deposit & Payment Process / Reconciliation Sourcing / Negotiations / Cost Savings 4. 8.

  16. Needs Assessment / Researchand Data To Get Startedcontinued 12 Critical Steps to Roadmap & Business Plan 11. Post Meeting Evaluation / Learner Outcomes & Meeting Value 9. Meeting Budgets / Variance Management & Financial Reports Technology Tools & Resources That Drive SMM 10. 12.

  17. Key Measurement Options Increased Planner / Team Productivity Cost Savings Contract Risk Reduction / Cost Containment Return On Objectives (ROO) Return On Event (ROE) Robust Technology: Management / Financial Reports That Validate Results / Drive Strategic Decisions Metrics To Define And Measure Success

  18. Planner / Team Productivity & Efficiency Strategies

  19. Cost Savings Planner Survey Top Challenge Credible metrics and formulas to define real cost savings How to communicate total savings to senior management

  20. Group Exercise • Identify three cost savings categories and your metric or formula to calculate savings? • Identify three hotel contract performance clause categories and how to validate risk reduction / cost containment.

  21. Cost Savings Metrics to Measure Success Cost Savings Report By Meeting

  22. Hotel Contract Negotiations Big picture contract negotiation goals: Contract integrity Added meeting value Cost savings Risk reduction / cost containment

  23. GROUP EXERCISE Hotel Contract Risk Reduction / Cost Containment Methods • Identify three hotel contract performance clause categories and how to validate risk reduction / cost containment.

  24. Key Risk Reduction / Cost Containment Components

  25. Return On Objectives (ROO) “The ability to identify meeting stakeholder(s) objectives for each meeting and create meeting design, content and communications that address each objective. This includes post meeting analysis that measures results and validates that meeting objectives were achieved.”

  26. Return On Event (ROE) “Positive, pre-event to post-event measurable shifts in attendee knowledge, perceptions, attitudes & skills resulting in behavior change, impact on business & ROI.”

  27. Robust Technology Drives Strategic Meetings Management (SMM) and ROI Metrics • Technology - Enabler To Success: • Delivers efficiencies • Drives common standards • Supports / enables pre-approval • Reporting capabilities from the meeting level to the enterprise level • Automates processes • Centralizes data • Improves visibility to meeting activity • Reduces paperwork / Automate workflow

  28. Robust Technology: Management / Financial Reports That Validate Results / Drive Strategic Decisions

  29. How To Get Heard At The Top / Buy In Shift your communications to “meetings as investments” Understand management’s core priorities Create transparent metrics to define and measure success Communicate benefits of Strategic Meetings Management (SMM) Introduce SMM technology, easy access to management / financial reports

  30. A “BRAND” New You: Why Self Branding Is Essential • How are you perceived within your organization today? • How would you like to be perceived? • Build your business acumen / talk the language of senior management • Communicate SMM value and outcomes to key stakeholders • Senior level mentor to “champion” your SMM Business Plan • Distribute timely data and reports that validate your SMM success

  31. Thank You • Complimentary Resources • Strategic Meetings Management (SMM) Top 10 Tips • Hotel Contract Top 10 Tips Terri Woodin, CMP, CHSE Senior Director, Global Meeting Services Meeting Sites Resource Phone: 720-524-8932 twoodin@meetingsites.net

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