2. 2
3 Executive Summary
5 State of the Meetings & Events Industry
9 The Role of Event Management Software
14 Conclusion:
Tighter Control, Big Data Leads to Savings
15 Survey Methodology
15 About Lanyon
Table of Contents
3. EXECUTIVE SUMMARY
Successfully managing meetings and events is like a game
of tug-of-war. On one side, there is intense corporate
pressure to control costs and prove event return on
investment (ROI). On the other side, there’s pull from rising
meeting and event costs and spending levels.
But today’s senior executives with responsibility for
meetings and events can win the game.
A new Lanyon‑sponsored survey reveals that companies
who adopt and implement event management technology
that centralizes event planning and helps enforce a central
meetings policy can reap up to $2.2 million1
in event
savings annually.
To help organizations better control costs and track ROI,
Lanyon‑commissioned a study with International Marketing
& Technology Solutions, Inc. (IMTS) in the fall of 2013.
The study, Best Practices to Track, Manage and Measure
Meetings & Event ROI, polled 201 SVP-, VP- and Director-
level executives at North America‑based companies with
global operations and at least $1 billion in annual sales.
3
1. Based on Lanyon customer results: 10-25% average in annual savings with event management software
4. 4
KEY STUDY FINDINGS
1. Lanyon’s new study found many respondents lack a way to
collect critical information about their meetings and events:
++ About half were unable to measure meeting and travel spend
across their organization at all times; and
++ Nearly 66% of respondents were unable to measure meetings
and event spending against ROI.
2. The study also found many lack the infrastructure to optimize
their meetings and events programs:
++ 46% lacked a single technology solution to centralize their
data and assist with meetings policy enforcement.
3. Yet, the good news is that those who practice key event
management best practices have greater power to control
costs, save and measure ROI:
++ Of those with a centralized global meetings and events team,
84% can measure their event spend;
++ Of those with a central meetings policy, 90% can measure
their spending
CONCLUSION
To better track, control and save on meeting and event costs and,
in turn, better measure event ROI, companies need to employ
an end‑to‑end event management system. A cloud‑based event
management platform, like the SMART EVENTS™ Cloud from Lanyon,
provides companies with access — from one single source — to
intelligence on comprehensive event spending as well as ROI metrics.
5. THE STATE OF THE MEETINGS & EVENTS
INDUSTRY
There is enormous pressure on today’s event executives to make meetings work
– and to do it with less money.
In total, companies spend $360 billion2
globally on corporate meetings and
events. A significant portion of their budget — nearly 9%3
— is spent on strategic
meetings and events, and forecasts call for even higher outlays: The Global
Business Travel Association (GBTA) predicts a more
than 12% increase in total group travel spend by U.S.
companies over the course of 2014 and 2015.
At the same time, a majority (58%) of
companies’ top priority for managing
meetings is to reduce event costs,
according to an Aberdeen Group
study4
. And getting good ROI
is on top of the agenda, too:
one recent Business Travel
News study5
found 36% of
companies measure event
ROI for meetings.
2. Meetings and Events: Where Savings Meet Success, CWT Travel Management Institute, 2010
3. Strategic Meetings Management: A Handbook of Emerging Strategies for the Next Generation of Meetings and Events Management, Aberdeen Group 2012
4. Strategic Meetings Management: A Handbook of Emerging Strategies for the Next Generation of Meetings and Events Management, Aberdeen Group 2012
5. Meeting The Challenge: Business Travel News’ 2012 Strategic Meetings Management Survey
5
6. In the Site International Foundation’s annual
forecast on the incentive travel industry, 79%
of 142 incentive professionals who participated
expect more pressure to prove ROI or return
on opportunity (ROO) to stakeholders over the
next year. Meanwhile, 82% expect a significant
increase in the need to justify programs over
the next one to three years.
79%
expect more
pressure to prove
ROI or ROO to
stakeholders over
the next year.
82%
expect a significant
increase in the need
to justify programs
over the next one to
three years.
ALL SIDES OF THE GROUP TRAVEL INDUSTRY WANT
COST‑JUSTIFICATION AND DEMONSTRABLE ROI.
6
7. STUDY: NEW EVIDENCE FOR SAVINGS
This study offers new evidence that implementing key meeting and event management best
practices – centralized meeting planning and a central meetings policy – provides a clear
trail to cost savings and ROI.
The chief finding from Best Practices to Track, Manage and Measure Meetings & Event
ROI is that the 201 respondents can
SAVE UP TO $442 MILLION ANNUALLY
(UP TO $2.2 MILLION PER RESPONDENT)
on meetings and events by implementing end-to-end event management software that
enables them to centrally manage meeting planning and track ROI.
7
8. 8
However, troubling findings from the survey show that many companies are ill‑equipped to reap those rewards because:
++Almost half (48%) of respondents were unable to measure meeting/travel spend across their organization at all times; and
++66% of respondents were unable to measure meeting and event spend against ROI.
FIGURE 1: TRACK AND MEASURE MEETINGS & EVENT SPEND
1%
22%
43%
34%
Measure
Spend vs ROI
at all times
66%unable to measure
1%
18%
29%
52%
Measure meeting/travel
spend across entire org
at all times
48%unable to measure
Source: IMTS; N=201
STUDY: NEW EVIDENCE FOR SAVINGS
Always Sometimes Never Don’t Measure
9. 9
FIGURE 2: LACK OF MEETINGS & EVENTS INFRASTRUCTURE
THE ROLE OF EVENT MANAGEMENT SOFTWARE
What’s hindering companies’ ability to save?
Many lack the infrastructure or software to optimize their meetings and events. According to the study, nearly half (46%) of
respondents lacked a single, end‑to‑end meetings and event management system to help them track and control costs
and measure ROI. In addition, 47% reported a lack of a centralized global meetings and events team, while more than half
(51%) lacked a central meetings policy. (See Figure 2).
Centralized
Global Meetings
& Event Team
Centralized
Meeting
Policy Initiative
47% 51%
53% 49%
ComboIn-House YES
Meetings
Management
Software
2%
44%
34%
20%
Source: IMTS; N=201
3rd Party Best of Breed NO
10. Meetings represent the last frontier in managed
travel spend. It just hasn’t been tackled by most
organizations. You find meetings spend on the
general ledger, in expense reports, channeled
through various payment methodologies … and
anytime you have that sort of fragmentation, it’s
hard to get to the bottom of it. Event management
technology that provides a centralized, automated
way to track costs — and then produce big data
in order to compare spend against event ROI —
makes saving money at lot easier6
.
Kevin Iwamoto, VP, Industry Strategy, Lanyon
“
”
6. Where There’s Mystery, There’s Margin, a Lanyon whitepaper, April 2013
MEETINGS — THE LAST FRONTIER
10
11. 11
FIGURE 3: CENTRALIZED GLOBAL MEETINGS & EVENTS TEAM
THE ROLE OF EVENT MANAGEMENT SOFTWARE
Centralized
Global Meetings
& Event Team
47%
53% 53%
32%
14%
2%
84%
YES
NO
Are you able to measure
your spend? Select one.
Always
Sometimes
Never
Don’t Measure
Source: IMTS;
N=179 [Yes (n=97); No (n=82)]
In marked contrast to those findings, Best Practices to Track, Manage and Measure Meetings & Event ROI also revealed
that companies who have implemented two key best practices (central meeting planning and a unified travel/meetings
policy) are better equipped to control costs and save:
++Of respondents who have a centralized structure for meeting planning and management, 84%can measure spend –
better enabling them to track ROI (See Figure 3): and
12. 12
THE ROLE OF EVENT MANAGEMENT SOFTWARE
++Of respondents who have a central meetings policy, 90%can track their spend – better enabling them to measure ROI
(See Figure 4.)
FIGURE 4: CENTRALIZED MEETING POLICY
57%
33%
10%
0%
Centralized
Meeting
Policy Initiative
51%
49%
90%
YES
NO
Are you able to measure
your spend? Select one.
Always
Sometimes
Never
Don’t Measure
Source: IMTS;
N=153 [Yes (n=79); No (n=74)]
13. In one study7
, best-in-class survey respondents reported
36% HIGHER RATE
of savings on meetings and event spend by using event
management technology.
Additionally, in that study, respondents said that
55% OR HIGHER
of their events were on or below budget.
7. Source: Aberdeen Group, April 2010
ACHEIVE A HIGHER RATE OF
SAVINGS ON EVENTS
13
14. CONCLUSION: TIGHTER CONTROL, BIG
DATA LEADS TO SAVINGS
Amidst rising pressure to control costs, save and prove the worth of meetings
and events, an end-to-end event management system is your ally. You can pare
10–25% off your event budget per year by implementing an end-to-end event
management software system, like the SMART EVENTS™ Cloud from Lanyon, and:
++Gain full visibility – via “Big Data” into all event planning activity and
information across your organization;
++Enforce a centralized, global meeting and events team and policy;
++Easily determine and report on event ROI.
Empower yourself. Adopt an end-to-end meetings and event management
system to:
++Drive meetings and event cost savings
++Prove event ROI
++Grow your business.
Otherwise, you may be leaving up to $2.2 million on the table. Learn how
Lanyon’s event management technology can help you save on your event
spending. Contact Lanyon today.
14
Don’t leave
$2.2 Million
on the table.
15. ABOUT LANYON INC.
Lanyon is the leading provider of cloud-based
software for the Meetings and Events industry, and
Transient Hotel Programs. Leveraging more than 40
years of industry experience, the Company enables
thousands of associations, Small to Mid-sized
Businesses and enterprise organizations around the
world to drive efficiency, engagement and growth
from their meetings, events and travel investments.
Lanyon serves over 80% percent of the Fortune 100,
including 10 of the top 10 hospitality, pharmaceutical
and technology companies and 9 of the top 10
financial services and communications companies.
For more information, visit www.lanyon.com.
Contact Lanyon:
(US Toll free) 855.228.4838
(UK) +44 (0) 207.313.5701
Lanyon.com
15
SURVEY METHODOLOGY
In the fall of 2013, Lanyon commissioned International
Marketing & Technology Solutions, Inc. to poll 201
Senior Vice Presidents, Vice Presidents and Directors
at North America‑based companies with global
operations and at least $1 billion in annual sales. The
respondents authorize shows, meetings and events
and, combined, spent an average $1.768 billion* on
those meetings and events annually.
* Source: Aberdeen Group, April 2010 – $8.8MM average spent annually by one
(1) enterprise on meetings and events.
