How has the Great Recession impacted consumers/attendees and the meetings and events industry. Discover the four types of consumers, what meeting professionals want from venues and the 10 New Normals.
18. About You Find Someone You Don’t Know Tell Them Your Name Your Company & Job Title Find something you both have in common
19. Why Are You Here? Get one sticky note Write one thing you want to learn from this session
20. Agenda Identify the four new consumer behaviors shaped by recession Discuss what attracts meetings and events to your venue Explore ten new normals for event professionals
21. More regulation, a weaker consumer, higher rates of unemployment, years before housing prices get back to old highs, a weaker dollar, more government debt, more taxes, a little deflation, then a lot more inflation and an end to U.S. global economic downturn… Welcome to New Normal ~ Don Reynolds 21st Century Forecasting
43. Lure To Your Venue Location Attractiveness Accessibility Entertainment factor Date Availability Lodging - prices, quality, quantity Meeting space Overall costs
44. Who’s Involved In Decision? CEO/Executive Director Board of Directors Executive Team Meeting Professional
45. Lure To Executive Team Regional Draw Local support Venue partnerships with program No attrition
46. Influences Event Prof Contractual issues Labor costs/service issues Variable costs Ease of doing business Hotel points
47. 10 New Normals The impact of the new normal on meeting and event professionals
48. Buyers Market On an inflation-adjusted basis ... it’s going to probably take eight to ten years to get hotel room rates back to where they were in 2007. Mark Lomanno, President Smith Travel Research
58. What We Covered Identify the four new consumer behaviors shaped by recession Discuss what attracts meetings and events to your venue Explore ten new normals for event professionals
59. To expect a normal recovery cycle, whether it is corporate profits or lending or consumer spending or capital investment, or (pick the category—increased meeting attendance, or association growth, or…) is just not reasonable. . ~ Don Reynolds