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Tides Of Change: Trends Disrupting The Meetings Industry

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Disruptive forces are significantly reshaping the world of work and the meetings industry. Some of these changes have been brewing for a decade or more. The recession exacerbated their influence and …

Disruptive forces are significantly reshaping the world of work and the meetings industry. Some of these changes have been brewing for a decade or more. The recession exacerbated their influence and speeded up their effects. Companies that survived the downturn need to shift their focus to surviving the upturn. We are not ever going to get back to normal. A new way of business is emerging for everyone, everywhere.


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  • Economic stimulus wear off
  • Economic stimulus wear off
  • Economic stimulus wear off
  • 8.9 million part-time employees due to economy. (hours cut or unable to find full time jobs) 6.2 million jobless for 27 weeks or more. August 2010  2.4 million not in labor force, not included in unemployment numbers. (Wanted & available for work, searched for job in past 12 months but not counted in survey because not searched for work in previous 4 weeks.) 1.1 million discouraged workers. (not looking for work, believe no work available for them 1.3 million did not search for work previous four weeks due to school or family responsiblitiels. 
  • 8.9 million part-time employees due to economy. (hours cut or unable to find full time jobs) 6.2 million jobless for 27 weeks or more. August 2010  2.4 million not in labor force, not included in unemployment numbers. (Wanted & available for work, searched for job in past 12 months but not counted in survey because not searched for work in previous 4 weeks.) 1.1 million discouraged workers. (not looking for work, believe no work available for them 1.3 million did not search for work previous four weeks due to school or family responsiblitiels. 
  • 8.9 million part-time employees due to economy. (hours cut or unable to find full time jobs) 6.2 million jobless for 27 weeks or more. August 2010  2.4 million not in labor force, not included in unemployment numbers. (Wanted & available for work, searched for job in past 12 months but not counted in survey because not searched for work in previous 4 weeks.) 1.1 million discouraged workers. (not looking for work, believe no work available for them 1.3 million did not search for work previous four weeks due to school or family responsibilities. 
  • 8.9 million part-time employees due to economy. (hours cut or unable to find full time jobs) 6.2 million jobless for 27 weeks or more. August 2010  2.4 million not in labor force, not included in unemployment numbers. (Wanted & available for work, searched for job in past 12 months but not counted in survey because not searched for work in previous 4 weeks.) 1.1 million discouraged workers. (not looking for work, believe no work available for them 1.3 million did not search for work previous four weeks due to school or family responsiblitiels. 
  • Social Support – customer service in social mediaAdopting a culture of listeningNew rules of relationship management - http://www.altimetergroup.com/2010/03/altimeter-report-the-18-use-cases-of-social-crm-the-new-rules-of-relationship-management.htmlPR challenge – Navy Response ChartCustomer complaint – same as responding from the front desk
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • What must meeting professionals do differently to encourage this?
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Demand ROI, consider virtual alternatives, leverage spend
  • What must meeting professionals do differently to encourage this?
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Fishbowl,OpenSpace, multi-setups (rounds followed by highboys & lounge areas)
  • Public spaces for networking – food, WiFi, computer terminalsBars and hotel restaurants for TweetUpsLounges, seating areas for informal learningSpeak lanaguage of informal versus form
  • Public spaces for networking – food, WiFi, computer terminalsBars and hotel restaurants for TweetUpsLounges, seating areas for informal learningSpeak lanaguage of informal versus form
  • Public spaces for networking – food, WiFi, computer terminalsBars and hotel restaurants for TweetUpsLounges, seating areas for informal learningSpeak lanaguage of informal versus form
  • What must meeting professionals do differently to encourage this?
  • Less Brand Loyalty, 28% decreased direct bookings, prefer direct bookings for changes, points, cancel, requests
  • Transcript

    • 1. Tides Of Change
      The Trends Disrupting The Meetings Industry
    • 2.
    • 3. 1) Identify four new consumer behaviors shaped by recession.
      3
    • 4. 2) Discuss trends disrupting the meetings industry.
      4
    • 5. We devote our intelligences to
      anticipating what
      average opinion expects the average
      opinion to be.
      John Maynard Keynes, 1936
    • 6. Absence Of Good Economic Models
      Rely on
      Opinions
      Guesstimates
      Crowds
    • 7. 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…
      ~ Don Reynolds, Economist, 21st Century Forecasting
      Welcome To The
      New Normal
    • 8. 4 New Consumer/Attendee Types
      Great Recession Shaped
      New behaviors
      Adoption of
      New Normal
      Decitica Research
    • 9. Research showed new lens on how consumers internalized their recession experience
    • 10. Steadfast Frugalists
      • 20% of population
      • 11. 6 in 10 women
      • 12. Fewer Gen X & Gen Y
      • 13. Already considered tightwads
      • 14. Most difficult to market to
    • Involuntary Penny Pinchers
      • 29% of population
      • 15. 6 in 10 women
      • 16. Primarily Gen X
      • 17. Forced frugality
      • 18. Challenging group to attract
    • Pragmatic Spenders
      • 29% of population
      • 19. 6 in 10 men
      • 20. Over represented by people in 60s
      • 21. 1/3 HHI > $75K
      • 22. Best group to market to
    • Apathetic Materialists
      • 22% of population
      • 23. Slightly more women than men
      • 24. Gen Y
      • 25. Indifferent
      • 26. Attractive target for youth market
    • So What?
      What Does This Mean To You?
      Steadfast Frugalists
      Involuntary Penny Pinchers
      Pragmatic Spenders
      Apathetic Materialists
    • 27. 1 in 5 U.S. Meeting Professionals
      doubt economy in recovery
    • 28. CEIR Index For Exhibits Down
      For nine straight quarters
    • 29. Struggling Economic Growth
      55 %
      Consumer Optimism
      Economy Improves
      Next Year
    • 30. Struggling Economic Growth
      9.6 %
      Unemployment*
    • 31. *Not Included
      8.9 Million Part-Time
      6.2 Million Jobless 27 wks or >
      2.4 Million not in labor force
      1.1 Million discouraged workforce
      1.3 Million did not search for job
    • 32. Americans Saving More
      6% Income
      Spending Less
    • 33. Fragile Economy
    • 34. 18 more months
      Economic Turmoil
      Double Dip Recession
      4th Quarter 2011 USA
      1st & 2nd Quarter 2011
      Europe & Asia
      Roger Martin-Fagg , Global Event Summit, London, 9/2010
    • 35. 41
      Million Minutes
      Spent on Facebook
      More than Google
      August 2010
    • 36. 10 New Normals
      The impact of the new normal on meeting and event professionals
      Tides Of Change
      Impact of New Normal On Meetings Industry
    • 37. Four Major Waves
      Tides Of Change On Meetings Industry
    • 38. Four Major Waves
      1. Buyer & Seller Changes
    • 39. Four Major Waves
      1. Buyer & Seller Changes
      2. Biz Model Disruptors
    • 40. Four Major Waves
      1. Buyer & Seller Changes
      2. Biz Model Disruptors
      3. Programming Pressures
    • 41. Four Major Waves
      1. Buyer & Seller Changes
      2. Biz Model Disruptors
      3. Programming Pressures
      4. Attendee Expectations
    • 42. Wave #1
      Buyer & Seller Changes
    • 43. 1. 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
    • 44. Price Integrity
      Rate Transparency
      Less Brand loyalty
      1. Buyers Market
      Trust!
    • 45. Trust is
      differentiator
      2. Move from Transactions to
      Relationships
    • 46. 2a. Relationship Sales: Hotel 2.0
      Online footprint
      Social mediainteractions
      There B4 the Sale
      Geo-location
    • 47. 2b. Relationship Sales: Social CRM
      Process to monitor, engage & manage conversations &relationships with existing & prospective customers & influencers across the Internet, social networks & digital channels. ~ Mark Walsh
    • 48. 3. Reg List Lures
    • 49. 4. Buyers Still Stung by
      Extravagant Label
      Optimism up. Budgets not.
      Incentive Research Foundation Pulse Survey Report, 8/2010
    • 50. 5. More For Less New Frugality
      New Competitive Set
      Buy up, not down
      Packages
    • 51. 6. Group Biz Commoditized
      RFP Overload
      Grids
      Selling brass & glass
      More small biz
    • 52. 7. Billboard Effect
      Expedia/Cvent
    • 53. 8. Push To Pull
    • 54. Small Group Discussion
      What struck most about buyers & seller changes?
      42
    • 55. Wave #2
      Business Model Disruptors
    • 56. 9. Creative Destruction
      Innovation
      New ways to create value
      Drive out old
    • 57. 10. Rise Of Free
      Increased pressure to create value
    • 58. 11. Self-Organized Communities
    • 59. 12. 2011 Hotel & Airfare Rates Rise
    • 60. 13. No Longer Serves Us
    • 61. 14. Shorter Lead Times
    • 62. 15. Procurement Depts Taking
      Over Incentive Travel
      Incentive Research Foundation Pulse Survey Report, 8/2010
    • 63. SMM
      16. Smarter Buyers
    • 64. 17. C-Suite more involved in
      decisions about
      conferences & travel
    • 65. 18. Increased Demand ROI & ROO
    • 66. 19. Successful Shows
      Continue To Grow
      At expense of weaker shows
    • 67. 19a. Successful Shows See Growth
      Reputation for best
      Ed, Networking
      Quality, Buyers
      Innovation
      Focus on programming
    • 68. 20. Exhibit Revenue Mix Changes
      Traditional 85% booth, 15% sponsorship
      Less booth, more sponsorship
    • 69. 21. Current Exhibit Biz Model
      Not likely sustainable. ~ Doug Ducate
      CEIR President & CEO
    • 70. Small Group Discussion
      Which biz disruptors are impacting you?
      58
    • 71. Wave #3
      Programming Pressures
    • 72. 21. Increased Pressure
      Programming
      Networking
      New Products
    • 73. 22. Speakers With Substance In
      Motivational out unless
      Programming packed with relevance
    • 74. 23. Extending The Reach
      Technology infrastructure
      Helping your customers reach their customers beyond four walls of venue
    • 75. 24. Untraditional Room Setups
    • 76. 25. Your Conference Seen As
      Connections
      Conduit For
    • 77. 26. Three Audience Types
      To Plan For
      Novices: 1-5 yrs
      Mature: 6-10 yrs
      Experienced: 11 yrs >
    • 78. 27. Education Vs. Information
      Is your programming
      Information Dumps
      Interactive Learning
    • 79. 28. Active Learning
      67
      when the learner
      is involved in more
      than just listening
      to alecture.
    • 80. Small Group Discussion
      How will new programming pressures impact you?
      68
    • 81. Wave #4
      Attendee Expectations
    • 82. 29. Online Content & Communities
      Threat or Opportunity
    • 83. 30. Monologues To DialoguesTo Polylogues
    • 84. 31. Participatory Culture
    • 85. 32. More Adult White Space
    • 86. 33. Problem Centric
      Not Content Centric
    • 87. 34. One Size Fits All Out
      Mass Customization
    • 88. 35. Attendee
      Expectation
      Free Wi-Fi
    • 89. 36. On-Demand &
      Mobile Access
    • 90. 37. Green Continues
      To Drive Decisions
    • 91. 38. Attracting
      Younger Audiences
    • 92. 1) Identify four new consumer behaviors shaped by recession.
      80
    • 93. Steadfast Frugalists
      Involuntary Penny Pinchers
      Pragmatic Spenders
      Apathetic Materialists
    • 94. 2) Discuss trends disrupting the meetings industry.
      82
    • 95. Four Major Waves
      1. Buyer & Seller Changes
      2. Biz Model Disruptors
      3. Programming Pressures
      4. Attendee Expectations
    • 96. 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 notreasonable.~ Don Reynolds, Economist 21st Century Forecasting
    • 97. Planning Meetings & Events…
      Not A Piece Of Cake
      85
    • 98. Adult Ed & Meetings
      86
    • 99. Thank You
    • 100. midlander1231
      the|G|™
      ~Ilse
      Don Solo
      Daniel Henríquez
      Leonard John Matthews
      London Permaculture
      cindy47452
      mariotto52
      topher76
      SamikRC
      kenyee
      Xotoko
      Ian Sane
      cláudiagabrielamarquesvieira
      Paloetic
      Bob.Fornal
      mrflip
      Jimw
      Ornellaswouldgo
      khalidalmasoud
      brentbat
      Steven C Wilson
      ☼ Helder
      !!sahrizvi!!
      Stefan
      Luxmart
      fotomele
      Thank You
      Photo Credits
      Stay Cool!
    • 101. 89
      jhurt@velvetchainsaw.com velvetchainsaw.com @JeffHurt

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