How Generational Buying Preferences Will Transform the Meetings Marketplace

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How Generational Buying Preferences Will Transform the Meetings Marketplace

  1. 1. IACC’s Emerging Trends Committee Presents:Generational Preferences In Meeting Location Selection March 2013
  2. 2. IACC’sEmerging Trends Committee…• Created in 2007• Members are 30 years old or younger• Has conducted three initiatives including: – Comprehensive Guide to Social Media (2012) – Internship model (2011)
  3. 3. Development CounsellorsInternational…• Since 1960, DCI has worked with 400+ countries, states and cities globally to drive both investment and tourism.• Published “Winning Strategies in Destination Marketing in 2012”
  4. 4. Methodology• IACC Emerging Trends Committee (ETC) and Development Counsellors International jointly developed the survey.• Survey explored if there are generational preferences among meeting planners and whether these preferences shape how meeting space is selected.• On January 10, 2,000 meeting planners were invited via email to participate in an online survey.• Meeting planners were selected from a combination of IACC member meeting planners lists and DCI’s own internal meeting planner list.• Survey was entitled: Selecting A Conference Center: Choosing the Right Facility for Your Audience – 2013.• The survey garnered 94 responses which is nearly twice of the previous surveys by IACC’s ETC.
  5. 5. Generation Definitions Mature Age 66+ Baby Boomer Age 47-65 Gen X Age 33-46 Gen Y/Millenial Age 18-32
  6. 6. Respondent Profile Mature: NEC, 3% Baby 2% Boomer:Gen Y: 12% 45%Gen X: 38% * NEC= Not Otherwise Classified
  7. 7. Q. Have you ever heard of the International Association of Conference Centers (IACC)? 76% of respondents have heard of IACC Matures 100% Baby Boomers 74% Generation X 72% Generation Y 82%
  8. 8. Q. If you have heard of IACC, on a scale of one (not important) to five (very important), how important do you feel it is that our next event be held at an IACC facility? Importance of Using an IACC Facility 50% 45% 40% 30% 24% 21% 20% 7% 10% 3% 0% 5 (Very 4 3 2 1 (Not Important) Important)
  9. 9. Importance of Using an IACC Facility (average response by generation)5.04.0 3.1 3.0 2.93.0 2.42.01.00.0 Baby Boomer Matures Generation Y Generation X
  10. 10. Q. “Please rate on a scale of 1 (least important) to 5 (most important) how important each of the following factors are when choosing a conference facility on behalf of your clients.” Most Important Factors When Choosing A Conference Facility 4.5 5.0 4.2 4.2 4.1 4.5 4.0 3.5 3.0 2.5 2.0
  11. 11. Less Important Factors When Choosing A Conference Facility5.0 4.04.5 3.5 3.44.03.5 2.73.02.52.0
  12. 12. Generational Differences When Choosing A Conference Facility Generation Y Generation X Baby Boomer Mature5.04.54.03.53.02.52.0
  13. 13. Most Important Characteristics By Age Group(denotes answers by respondents who indicated that they selected conference centers based on the age of their meeting attendees by ranking it a 4 or 5 in importance)Mature Baby Boomer Gen X Gen YProximity to airport Proximity to Proximity to airport Cost airport and restaurantsEase of getting Ease of getting Renovated Chic/Modern Facilitiesaround aroundCleanliness Cleanliness Vibrant activities Entertainment, Evenin g Activities, Recreation on Property, Off-site ActivitiesWalking distances Comfortable Uniqueness Designwithin venue rooms with reading chairsLevel of service Wi-Fi Wi-Fi/Latest Technology TechnologyWheelchair Access Access to food/beverage
  14. 14. Q. Thinking abut your client’s annual meetings/ conferences that you have planned/attended, what are the three most important criteria in selecting a conference facility?” Top Criteria For Facility Selection 24.1% Adequate meetings rooms/flexibility of space 18.2% Location/appeal of destination 16.8% Accessibility 16.4% Affordability/cost 7.7% Technology
  15. 15. Top Criteria For Facility Selection (by generation) BabyCriteria Gen Y Gen X BoomerAdequate meetingrooms/flexibility of space 22.2% 26.3% 31.1%Location/appeal of destination 25.9% 20.0% 19.4%Accessibility 14.8% 8.4% 8.7%Affordability/Cost 22.2% 14.7% 14.6%Technology 3.7% 8.4% 7.8%Size/Capacity 11.1% 4.2% 0.0%Service 7.4% 6.3% 0.0%Food & Beverage offerings 0.0% 3.2% 7.8%Condition/Updated/Not underRenovation 7.4% 6.3% 5.8%
  16. 16. Q. “What are the top three challenges or reasons you would choose NOT to use a specific conference facility or other type of meeting venue?” Top Reason For Declining A Facility 16.7% Cost/excess charges 12.5% Inadequate meeting space (size/amount) 10.2% Location 9.8% Appearance/condition of property 8.3% Inadequate meeting space (layout/design)
  17. 17. Top Reason For Declining A Facility (by generation) BabyCriteria Gen Y Gen X BoomerCost/excess charges 28.6% 17.3% 20.9%Inadequate meeting space (size/amount) 21.4% 8.6% 17.4%Location 10.7% 11.1% 11.6%Appearance/Condition of property 3.6% 12.3% 11.6%Inadequate meeting space (quality/layout) 17.9% 25.9% 16.3%Accessibility 3.6% 7.4% 10.5%Quality of Staff/Service 7.1% 8.6% 3.5%Lack of technology or outdated 3.6% 6.2% 5.8%Bad reviews/reputation 3.6% 2.5% 2.3%
  18. 18. Q. “Thinking specifically about the meeting space(s) within a conference/meeting facility, please rate the importance (1=least important, 5 = most important) of the following meeting room characteristics.” Most Important Room Elements 5.0 4.3 4.0 3.8 4.0 3.0 2.0 1.0
  19. 19. Less Important Room Elements5.0 3.6 3.14.0 2.63.02.01.0
  20. 20. Importance of Room Characteristics (by generation) BabyCriteria Gen Y Gen X Boomer MatureSpace has elements that areconducive to learning or training 4.4 4.3 4.3 4.5Space fosters collaboration andinnovation 4.0 3.9 4.0 4.5Availability of break out rooms withinformal, moveable furniture 3.5 3.7 4.0 4.0Space has informal furnituregroupings to allow participants tosocialize and converse with oneanother 3.0 3.6 3.7 3.5Space provides the ability torecognize sales or key performers 3.5 3.2 3.0 3.0Availability of white boards onwheels 2.2 2.4 2.9 2.5
  21. 21. www.iacconline.org www.AboutDCI.com

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