Trumping TARP


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Meetings Industry and TARP how to value the importance of meetings in your organization

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Trumping TARP

  1. 1. Trumping TARP Christine Duffy CEO Maritz Travel
  2. 2. Meetings Media
  3. 3. CIC Credit Today’s Webinar is worth credit toward the CMP application. • Download the presentation from the left-hand side of the webinar player and print out the last slide. Include this slide with your CMP application or recertification f tifi ti form.
  4. 4. May 27: Citywide Solutions: Leverage Your Massive Meeting Citywide Solutions: y Leverage Your Massive Meeting May 27, 2009 1:00 p p.m. EST/12:00 p.m. CST p 11:00 a.m. MST/10:00 a.m. PST
  5. 5. Housekeeping • Polling question: please enter the number of people watching this event with you. Pl hi hi ih Please i l d yourself. include lf • Use the “Ask a Q estion” b tton to ask questions at any Question” button q estions an time during the presentation. • Use the drop-down menu to download a handout of today’s p y presentation. • If you experience technical difficulties, please email
  6. 6. Today’s Sponsors
  7. 7. Today’s Speaker Christine Duffy
  8. 8. Transforming Meetings, Events, and Incentives in a Post- AIG World: Managing Perceptions Creating Val e and World Perceptions, Value, Measuring Impact Christine Duffy, President and CEO April 29 A il 29, 2009 Meetings Media Webinar PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 8
  9. 9. The “Perfect Storm” for the Industry Perfect Storm “AIG-Effect Tones Down “Goldman Sachs Moves Lavish Business Events” Event to New York from Media Feeding g Miami” Frenzy “Wells Fargo Cancels Las Vegas Trip” g p Politicians “You can t go take a trip to You can’t “Let's get this straight: These Let s Fanning the F i th Las Vegas, or go down to guys are going to Vegas to roll Flames the Super Bowl on the the dice on the taxpayer dime. taxpayers’ dime,” They're tone deaf. It's - President Barack Obama outrageous.quot; -Rep. Shelley Moore Capito Rep (R-WV) PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 9
  10. 10. Government Intervention & Reaction New Government Stimulus package: any company who took or will receive government assistance will be subject to Regulation new Treasury regulations on “luxury” travel. 56% of corporate planners canceled one or more meetings 48% of corporate planners will reduce the number of meeting Business attendees Impact 56% of managers at Fortune 1000 companies are postponing or eliminating at least a portion of their incentive programs in 2009 PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 10
  11. 11. Needed: Focused, Strategic Campaign Make it safe for businesses to Goal “get back in the water” Policymakers: change political calculation Media: broaden and provide context to the story Strategy gy Businesses: tools to resist pressure Change the Victim Value to Business Value to Communities Business travel and events The American worker is the Messages are a smart and cost- unintended victim of the effective way to retain and Business events and demonization of business develop employee talent, meetings are the lifeblood of meetings and incentive travel generate ideas and share many local communities. programs. knowledge that drives future business growth. PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 11
  12. 12. How Companies Responded Short-term responses to the criticism have been swift, with several • companies canceling all meetings, events and incentives Nearly half of respondents (48%) also feel there are non-financial risks • associated with running ME&I programs in the current economic climate. D5. Do you, or does your organization feel there are risks -- beyond financial -- associated with running meetings, events, and/or incentive trips in this economic climate? (n=89) Negative stakeholder Don't perception know 15% Stakeholder No perception of value 37% Bad press/PR Yes. Market pressures Examples are: 48% Low attendance Maritz Marketplace Poll January, 2009 *Asked f l f h *A k d of only of those who responded that their budgets either decreased or they expect their budgets to decrease in D2 h ddh hibd ih d d h hibd d i and/or D3. PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 12
  13. 13. Managing Perceptions What are the negative images that we need to combat? Spending frivolously while laying people off • Serving only the privileged • Another example of excess compensation • Insensitive to environmental impact • PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 13
  14. 14. Managing Perceptions: What are the take-aways? take aways? Hoping th H i the press doesn’t take note of your event d ’t t k tf t • is not a strategy Experiment with meaningfully different meetings • that address the shift in cultural values Make “the common good” a centerpiece of • meetings of “the privileged few the few” PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 14
  15. 15. Managing Perceptions: Redefining what “special” means “ l” •N t Not j t ‘l just ‘luxury’ anymore ’ • Meeting “special” people • Privileged access • An emotionally impactful experience • Team happenings • Including my family gy y PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 15
  16. 16. And now for the good news…What You Do Is Highly Valued! hl ld Nearly all (99%) respondents of a recent Maritz market study feel • their organizations value the benefits of their ME&I programs; nearly two-thirds feel their ME&I programs are highly valued. D9. Overall, how much does your organization value the benefits/effectiveness of meetings, events, and/or incentive travel?* (n=93) Don't know 1% Valued somewhat 36% Highly valued 63% PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 16
  17. 17. While politically expedient, it creates enormous downstream risk for the organization d i kf h ii • Eliminating meetings and events severely impacts revenue growth • Eliminating incentive travel programs lowers sales force productivity, decreases high- performing employee morale and increases f i l l di attrition • Eli i ti Eliminating customer events hampers the t th th organization’s ability to compete and differentiate its products or services PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 17
  18. 18. Societal Shifts may have Greatest Impact in the long term…. hl •L Luxury being redefined; What is socially edefined sociall acceptable? • How does Corporate Social Responsibility manifest itself inside of Meeting and Incentive programs? • The Gaming Generation joins the workforce • The Baby Boomers may never retire PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 18
  19. 19. Voice of Participant becomes critical in design, delivery & impact… d li i • Alt Alternative ti approaches for engagement hf t • Need for inclusion of choice • Content on Demand • Integration of Live and Virtual g “Focus on customization of individual Focus experience for success” PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 19
  20. 20. Impact: Creating a “total solution for results total solution” The real goal we are trying Impact to achieve All the things that must be true for us Enabling Programs to drive results (things that drive performance) How we get Execution Capabilities events done (the things we’re good at doing) PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 20
  21. 21. Impact: What are the take-aways? take aways? Every well designed meeting has three integrated E ll d i d ti h th it td • phases: before the meeting – the meeting – after the meeting – Manage the end-to-end process, not just the event • A total solution for meeting impact requires a coalition • of the committed PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 21
  22. 22. A Model for Success Spending & Value Participant Creation Engagement Savings TRANSPARENCY ACROSS THE ORGANIZATION  Measure, report and  Strategic sourcing  Actively engage improve generates significant participants, planners savings, clearly and meeting owners to  Meeting goals connected to documented by program co-create the experience business goals  Identifies and manages  Participants more  Measurement to contract risk clearly drive venue, determine ROO and agenda, content and ROI before, during  Assures compliance with activities and after operation your reputational risk  Added layer of protection guidelines for program  Determine how around decisions design and sourcing individual behaviors and attitudes contribute to organizational success PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 22
  23. 23. Lastly, a Guide for ‘Responsible’ Meetings and Events… Maritz h M it has worked in consultation with the following groups to develop k di lt ti ith th f ll i td l • a ‘model board policy’ for any company receiving government funds. – The American Hotel and Lodging Association – Destination Marketing Association International, – International Association of Exhibitions and Events – Meeting Professionals International – National Business Travel Association – Professional Convention Management Association – S i t of I Society f Incentive T ti Travel Executives lE ti – The U.S. Travel Association PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 23
  24. 24. Key Components of the ‘Model Board Policy Model Policy’ Each E h proposed meeting, event or incentive/recognition travel d ti t i ti / iti t l • with a cost exceeding $75,000 must be supported by a written business case identifying a specific business purpose. Total annual expenses for meetings, events and • incentive/recognition travel shall not exceed 15 percent of the company s company’s total sales and marketing spend. The amount spent for an employee performance • incentive/recognition event shall not exceed two (2) percent of the total th t t l compensation of eligible participants or 10 percent of ti f li ibl ti i t tf total award earners’ compensation. At least 90 percent of incentive program attendees shall be p pg • other than senior executives (as defined by applicable Treasury Department guidelines) from the host organization. PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 24
  25. 25. Key Components of the ‘Model Board Policy Model Policy’ Performance incentives shall not promote excessive or • unnecessary risk taking or manipulation of financial results. i k ki ili f fi il l All internal meetings or events attended only by senior • e ecut es executives (as de ed by app cab e Treasury Department defined applicable easu y epa t e t guidelines) and/or board members shall be devoted to specific business purposes, and participating senior executives shall be responsible for any expenses incurred for non-business related non business activities. The CEO of the company shall certify to the board at least • annually that the foregoing policies are being followed, and are ll th t th f i li i b i f ll d d sufficient to provide reasonable assurance that the company’s expenditures for such purposes are not excessive. The process for approving meetings, events and • incentive/recognition travel, and the procedures for assuring adherence to this policy will be subject to independent audit to policy, confirm policy adherence. PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 25
  26. 26. Our Response Must Be Aggressive & Ongoing We Must Actively S p Our y Shape O Operating Environment or Others Will Shape it For Us PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 26
  27. 27. Q&A Please use the “Ask a Question” button to submit your questions now.
  28. 28. TAKE10 Introducing: TAKE10 Since we can’t get to all of the questions submitted by webinar participants, we’ve p p p , posted 10 that weren’t answered during the program. Thanks to our presenter for volunteering to field all of your important queries from “Webinar L d!” “W bi Land!” Check your inbox soon for an invitation and link to the TAKE10 Q&A Web page.
  29. 29. May 27: Citywide Solutions: Leverage Your Massive Meeting Citywide Solutions: Leverage Your Massive Meeting M i M ti Join Meetings Media and Margie Johnson to learn how to leverage your massive piece of potential business with CVB and f iliti bi ith CVBs d facilities. May 27, 2009 y, 1:00 p.m. EST/12:00 p.m. CST 11:00 a.m. MST/10:00 a.m. PST
  30. 30. Today’s Sponsors
  31. 31. CMP Credit Instructions Thank you for joining us for “Trumping TARP” This webinar is worth .1 points toward the initial CMP application and 1 1 point toward recertification through the CIC. To receive CEU credits for this webinar: Download the webinar handouts from the drop-down menu on the left hand side of your screen. Print out this slide from the handouts. Include the printout with your CMP application form form.