HIGHLIGHTS OF THE CTO 2014 KEY PERFORMANCE INDICATORS A 2014 REPORT

Transcription

1 HIGHLIGHTS OF THE CTO 2014 KEY PERFORMANCE INDICATORS A 2014 REPORT Presented at the CTO Board of Directors Meeting Wednesday, September 17th, 2014 USVI 1

2 2017 VISION To position the Caribbean as the most desirable, year-round warm weather destination by December 31,

3 TEAM STRATEGIC ALIGNMENT 2014 MISSION: Secretariat Strengthen and grow membership in the CTO in order to... provide strategic leadership in tourism MISSION: MEMBERSHIP SERVICES Deliver high quality services to a diverse membership in order to... Strengthen and grow membership in the CTO MISSION: RESOURCE MOBILIZATION & DEVELOPMENT Mobilize resources for professional development and activities in order to... Strengthen and grow membership in the CTO MISSION: RESEARCH & INFORMATION TECH. Improve tourism decision making through provision of quality research in order to... Strengthen and grow membership in the CTO MISSION: SUSTAINABLE TOURISM Champion sustainable tourism development in order to... Strengthen and grow membership in the CTO MISSION: FINANCE & RESOURCE MANAGEMENT Enhance CTO s financial stability and sustainability in order to... Strengthen and grow membership in the CTO MISSION: COMMUNICATIONS Successfully deliver the communications services across our diverse membership in order to...strengthen and grow membership in the CTO MISSION: REGIONAL MARKETING Increase positive awareness of the CTO in our key markets in order to... Strengthen and grow membership in the CTO MISSION: REGIONAL MARKETING Maximize the value of the CTO s presence in its major source market in order to...strengthen and grow membership in the CTO 3

4 Highlights Only Details contained in circulated Reports 4

5 CTO in Brief The region s tourism development agency providing specialized support and technical assistance to over 30 member countries and private sector members in the areas of: Research & Information Technology Sustainable Tourism Development Resource Mobilization & Development Membership Services Financial & Resource Management Marketing/Communications/Media Relations/Advocacy Event Management/Trade & Consumer Representation 5

6 2014 KEY PERFORMANCE INDICATORS Membership Services 1. Introduce a systematic process of tracking and analyzing Member satisfaction 2. Improve Member perception of the quality and relevance of CTO services and benefits 3. Increase the collection of Membership Dues & Regional Marketing Fund payments 4. Retain 100% of members in good financial standing 5. Increase non-government membership by 15% by December

7 ACHIEVEMENTS Membership Services Completion of eight country visits to present and understand the value of the CTO to our member-countries Completion of the 2015 Members Priorities Assessment Survey received a 70% response rate; detailed feedback regarding programs and activities that should be given priority; results helped to shape the 2015 Work Plans Completed a comprehensive products and services review and listing to support the new bi-level membership Implemented the Quarterly Update of Program and Activities Report Retained all thirty (30) member countries 7

8 2014 KEY PERFORMANCE INDICATORS Communications 1. Establish an integrated approach to the CTO s global corporate communications efforts 2. Create a communication policy for the CTO to improve the organization s image among stakeholders 3. Create a communication plan to support the promotion of CTO membership benefits to prospective and existing members of CTO 4. Maintain and enhance CTO's reputation as the leading authority on Caribbean tourism matters among key stakeholders regionally and internationally 5. Develop and implement a comprehensive Social Media Management strategy 8

9 ACHIEVEMENTS Communications Established the Caribbean Tourism Public Relations Alliance to share information and best practices among the membership, in order to enhance communication during crises Produced six episodes of Destination Caribbean a TV show broadcast in 21 Caribbean countries Produced The State of Our Tourism Industry a TV show broadcast in Barbados. Conducted a member-country media skills workshop Advised members on effective communication regarding the Chikungunya virus Secured coverage in numerous prominent trade publications for member countries Reached an additional 10,000 professional travel journalists worldwide through partnership with the International Travel Writers Alliance Delivered consistent monthly increases in the CTO s social media impressions 9

10 2014 KEY PERFORMANCE INDICATORS Research & Information Technology 1. Increase demand for services by 12% 2. Secure extra-regional funding of a minimum of $750k for programs 3. Broaden the scope of the Tourism Satellite Account system and implement in at least six membercountries 4. Enlist fifteen member-countries to Guestpitality Total Visitor Satisfaction 5. Increase compliance for provision of statistics to 25 member-countries 6. Respond to requests in a business day 10

11 ACHIEVEMENTS Research & Information Technology Completed the second component of the Tourism Satellite Account (TSA) Implementation Project Completed the final draft of the CTO s inaugural Future Caribbean Cruise Survey Created a standard visitor expenditure questionnaire to assist members with TSA development Published and distributed monthly arrivals data from 25 member countries in the Latest 2014 reports Continued to increase traffic to OneCaribbean.org a year after redesign 11,893 visits per month, up from 5,600 per month with previous design Prepared the first econometric study quantifying the impact of the APD on Caribbean tourist arrivals from the UK 11

12 2014 KEY PERFORMANCE INDICATORS Resource Mobilization & Development 1. Raise US$500,000 in new, donor/aid funding for programs. 2. Create and maintain a database of donor/aid agencies and their key areas of funding support for tourism and tourism-related areas. 3. Identify sources of funding available to all categories of CTO membercountries to allow greater levels of participation in CTO s donor funded programs. 4. Expand Hospitality Assured from the current 11, to 15 countries. 5. Secure funding and implement foreign language/cultural skills training for a minimum of 100 persons in 10 CTO member-countries. 6. Conduct workshops for a minimum of 100 teachers to enhance the teaching of tourism at the Caribbean Advanced Proficiency Examination (CAPE) or equivalent level. 7. Organize and implement the CTO Tourism Human Resources conference in Tobago, October, Raise US$10,000 from CTO Foundation past beneficiaries. 12

13 ACHIEVEMENTS Resource Mobilization & Development Secured funding to finance the participation of five new companies in the Hospitality Assured program in Grenada A total of 12 countries now engaged in the Hospitality Assured program Secured funding for two regional consultants and 16 institutions to conduct a workshop to revise the associate degree tourism/hospitality curriculum for the Caribbean Created a matrix of donor/aid agencies and their key areas of funding support for tourism-related areas Identified possible funding opportunities for Overseas Countries & Territories, Outermost Regions and Dutch Caribbean territories Was involved with the development of Tourism as a subject at the Caribbean Advanced Proficiency Examination (CAPE) level in conjunction with the Caribbean Examinations Council (CXC) Provided support to St. Martin to implement tourism education in its school system 13

14 2014 KEY PERFORMANCE INDICATORS Marketing, UK and Europe 1. Strengthen contractual arrangements with event organizers and increase participation of member-countries in activities organized to heighten visibility and generate business. 2. Increase the network of tour operators selling the Caribbean by 10%. 3. Increase subscribers to Caribbean sales training programs by 50%. 4. Grow UK Chapter membership to 95 members. 5. Increase social media interaction by 40%. 6. Generate trade and media business opportunities in 2 new, potentially productive markets. 7. Create 10 business opportunities for the Caribbean in the MICE market across the UK & Europe. 14

15 ACHIEVEMENTS Marketing, UK and Europe Led Caribbean s participation at 35 trade and consumer events across UK & Europe Tripled the number of Love Caribbean Facebook fans since Jan 2014 Launched the CTO s first Meetings, Incentives, Conferences and Exhibitions (MICE) Guide Made over 700 new trade and media contacts through Caribbean Road shows targeting media and travel trade in Scandinavia, Russia, Italy and France Secured 4,500 for the CTO Foundation Organised media awards for German press at ITB Berlin Published the 2015 Guide to the Caribbean Attracted 33 key media at the CTO Meet the Media event in London 15

16 2014 KEY PERFORMANCE INDICATORS 1. Sustainable Tourism Development Increase members participation in sustainable tourism events 2. Strengthen relationships with a minimum of 6 key organizations to jointly address critical sustainable tourism issues among CTO member-countries. 3. Increase awareness of key sustainable tourism development issues and the capacity to address them. 4. Facilitate members in measuring sustainability to certification level. 5. Support the implementation of regional sustainable tourism product development strategies. 6. Secure adoption of the Regional Food Tourism Action Plan by a minimum of 10 member countries 16

17 ACHIIEVEMENTS Sustainable Tourism Development Arranged the creation and signing of an MOU with IICA to strengthen linkages between tourism and agriculture Launched the Sustainable Destinations Alliance for the Americas in partnership with the OAS, RCCL, STI, SITCA first initiative of its kind aimed at improving sustainable tourism destination management and global competitiveness in Latin America and the Caribbean Assisted in hosting in Grenada, the Third Symposium for Innovators in Coastal Tourism explored best practices in beach and shoreline protection, responsible coastal and marine recreation, and sustainable tourism marketing and branding Organized CTO-TravelMole Caribbean Excellence in Sustainable Tourism Awards (2014) competition Conducted baseline research for voluntourism and experiential tourism guidelines 17

18 2014 KEY PERFORMANCE INDICATORS CTO USA, Inc. 1. Increase revenue from non-government membership by 15%. 2. Increase net revenue from conferences, events and special programs by 15%. 3. Generate revenue and increase business through Caribbean Diaspora engagement programs. 4. Initiate strategic partnerships with a minimum of two new North American-based funding entities 5. Strengthen contractual arrangements with event organizers and increase participation of member-countries in activities organized to heighten visibility and generate business 6. Increase the organization s social media community of followers by 20% 7. Increase receipts for the CTO Foundation 20% 18

19 ACHIEVEMENTS CTO-USA, Inc. Secured over $95,000 in revenue from non-government members Secured over $1 million in media exposure for Caribbean Week NY Led the participation of members at WTM Latin America and FIT, Argentina Secured $45,000 for the CTO Foundation through an auction at Rum and Rhythm, pledges and donations Increased membership in allied and carrier member categories to 5 Carrier Members and 60 Allied Members Increased social media followers by 20% Established a relationship with Event Planning company to stage successful highly visible Caribbean Bridal Pavilion 19

20 2014 KEY PERFORMANCE INDICATORS Finance & Resource Management % on time issuance of payment plans and collection procedures % reduction in membership dues arrears. 3. Increase in net operating cash flow. 4. Retention of members in good financial standing. 5. Enhanced use of technology for improved financial management across all offices. 20

21 Achievements Finance & Resource Management Developed four new payment plans Realized a 30% reduction in members dues arrears and an 8.6% reduction in Regional Marketing Fund arrears Established procedures to substantially improve the collection of dues 17 government members in good financial standing (57%) 21

22 CTO s Statement of Purpose Leading Sustainable Tourism One Sea, One Voice, One Caribbean. 22

23 Caribbean Tourism Organization Next Agenda Item 23

24 Hugh Riley CTO 2015 WORK PLANS Presented at the 65 th Meeting of the CTO Board of Directors September 17, 2014 Secretary General & CEO

25 VISION: To position the Caribbean as the most desirable, year round, warm weather destination by MISSION: CTO Provide strategic leadership in tourism in order to position the Caribbean as the most desirable, year round, warm weather destination by MISSION: Secretary General Strengthen and grow membership and the CTO in order to provide strategic leadership in tourism. 25

26 ORGANIZATION S STRATEGIC ALIGNMENT VISION: CTO COUNCIL OF MINISTERS To position the Caribbean as the most desirable, year round, warm weather destination by 2017 MISSION: CTO Board of Directors Provide strategic leadership in tourism in order to... position the Caribbean as the most desirable, year round, warm weather destination by 2017 MISSION: Secretary General Strengthen and grow membership and the CTO in order to... provide strategic leadership in tourism 26

27 TEAM STRATEGIC ALIGNMENT 2015 MISSION: Secretariat Strengthen and grow membership and the CTO in order to... provide strategic leadership in tourism MISSION: MEMBERSHIP SERVICES Deliver high quality services to a diverse membership in order to... Strengthen and grow membership and the CTO MISSION: RESOURCE MOBILIZATION & DEVELOPMENT Mobilize resources for the organization and facilitate professional development activities to address the human resource needs of the sector in order to... Strengthen and grow membership and the CTO MISSION: RESEARCH & INFORMATION TECH. Strengthen tourism decision making through building sustainable capacity and the provision of quality research, statistical analysis and Information Technology services to our member countries in order to... Strengthen and grow membership and the CTO MISSION: FINANCE & RESOURCE MANAGEMENT Enhance CTO s financial stability and sustainability in order to... Strengthen and grow membership and the CTO MISSION: COMMUNICATIONS Create a regional corporate communications strategy in order to...strengthen and grow membership and the CTO MISSION: SUSTAINABLE TOURISM Champion sustainable tourism development in the Caribbean towards a viable, resilient and high quality tourism sector in order to... Strengthen and grow membership and the CTO MISSION: CTO UK & EUROPE Increase positive awareness of the Caribbean tourism product in the UK & Europe in order to... Strengthen and grow membership and the CTO MISSION: CTO-USA, INC. Generate revenue and maximize the value of the CTO s presence in its major source market in order to...strengthen and grow membership and the CTO 27

28 Where it all leads Enhance the desire for the tourism product Quantify and reinforce its economic impact Improve, measure and sustain a high quality visitor experience Communicate appropriate messages and channel them to the right audiences Identify, develop and manage resources 28

29 Towards Mission 2015 Secretary General s Key Performance Indicators 1. Reinforce systems aimed at delivering the regional Vision. 2. Increase the number of Government and non-government members in good financial standing. 3. Measure and strengthen the usefulness of the CTO to its members. 4. Increase the quantum of nongovernment funding. 5. Strengthen and improve the financial position of the CTO. 6. Increase the number of new memberrelated programs by December

30 Reinforce systems aimed at the Regional Vision Task Resources Director, Membership Services; Communication Team Increase Member Engagement Entire Management Team Engage regional partners; make fuller use of all media Entire Management Team Dissect and explain the components of the Vision; design Tourism Awareness campaigns Communication Team Research & IT Division 30

31 Increase the Number of Gov t and Non-Gov t Members in Good Financial Standing Task Make paying the CTO simple and efficient. Resources Director, Finance and Resource Management. Accountant Get all staff oriented toward this KPI. Directors of Division and all Staff Enlist Government members to encourage their contractors and service providers to become CTO members. Enlist non-government members to encourage their colleagues to become members. Director, Membership Services. Communication Specialist. Directors of CTO USA, UK, and Membership Services. 31

32 Measure and Strengthen the CTO s Usefulness to its Members Task Resources Survey the membership at all relevant events and opportunities. Directors, Research & IT, CTO USA, CTO UK and Membership Services. Enhance the Country Visits. Director, Membership Services. Communication Specialist. Clearly delineate the Organization s Value Proposition. Director, Membership Services. Communication Specialist. 32

33 Increase Non-Government Funding Task Identify new, extra-regional funding sources. Pursue new funders. Resources Director, Resource Mobilization. Director, Finance. Any relevant Staff Director, Resource Mobilization. Director, Finance. Any relevant Staff Improve relations with regional agencies who could partner with us for funding. Director, Resource Mobilization & Development. 33

34 Task Strengthen & Improve CTO s Financial Position Resources Reinforce the Organization s relevance. All Directors of Division Forge strong partnerships. All Directors of Division Focus on revenue generation. Reduce overhead. Reduce receivables. All Directors of Division External assistance All professional level staff Director of Finance & Resource Man. 34

35 Increase the Number of New Member- Related Programs in 2015 Task Innovate. Match new ideas to the requirements of members. Resources All Staff All Directors of Division Test new ideas. All Directors of Division Expand the scope of the ideas; some might be global. Think beyond regional resources. All professional level Staff 35

36 Communications 2015 Mission: To create a regional corporate communications strategy in order to strengthen and grow membership and the CTO Johnson JohnRose Communications Specialist 36

37 COMMUNICATIONS 2015 KEY PERFORMANCE INDICATORS Raise Member Countries profiles in the region and source markets Implement a programme to assist in shaping regional stakeholder communications about Tourism-related matters Establish a measurable integrated approach to the CTO s global corporate communications efforts Linked to SG KPI: Maintain and enhance the CTO's reputation as the leading authority on Caribbean tourism matters 1 37

38 Raise Member Countries profiles in the region and source markets Communications Secure media opportunities in key regional & international media Outline social media objectives in line with member survey results and general CTO communications efforts Implement a programme to assist in shaping regional stakeholder communications about Tourism-related matters Develop a minimum of two journalists workshops in CTO member countries Conduct minimum six Media/PR skills & Crisis Communications workshops Establish a measurable integrated approach to the CTO s global corporate communications efforts Maintain and enhance the CTO's reputation as the leading authority on Caribbean tourism matters Establish a regional corporate communications protocol to manage the CTO's image, maximize resources Develop internal communications plan to support employee engagement Organize one regional media relations & crisis communications seminar Strengthen regional tourism public relations alliance for sharing of information and best practices 38

39 CTO-USA, INC MISSION: To generate revenue and maximize the value of the CTO s presence in its major source market in order to strengthen and grow membership and the CTO Sylma Brown-Bramble Director, CTO-USA, Inc. 39

40 CTO-USA,INC KEY PERFORMANCE INDICATORS Linked to SG KPI: Increase Non-Government Membership by 15% 2 Organize and deliver quality, sustainable special programs that create awareness of the Caribbean 1 Develop and utilize strategic alliances and engagements 1 Utilize strategic alliances and engagements to provide funding for the CTO activities 4 Strengthen the CTO Foundation and the CTO Relief Fund 3 40

41 Increase Non-Government Membership by 15% CTO-USA, INC. Continue to organize membership drives among target groups Enhance the value of membership through reduced cost, access and visibility Organize and deliver quality, sustainable special programs that create awareness of the Caribbean Review strategy and deliver Caribbean Week and Caribbean Day programs in key source markets in North America Coordinate Caribbean sections at major trade and consumer events in North America, Latin America and the Caribbean Develop and utilize strategic alliances and engagements Engage Tour Operators, Meeting Planning Companies, Travel Agent Consortia, Media across various platforms to strengthen the brand Develop co-op niche market promotional pieces on the Caribbean to reach new audiences Utilize strategic alliances and engagements to provide funding for the CTO activities Strengthen the CTO Foundation and the CTO Relief Fund Strengthen CTO s relationships with private sector companies Develop partnerships that lead to greater funding opportunities and exposure for the region Create greater awareness of the existence of the Charities at trade and consumer events Build database of prospects for the CTO Relief Fund 41

42 Membership Services 2015 Mission: To deliver high quality services to a diverse membership in order to strengthen and grow membership and the CTO Faye Gill Director, Membership Services 42

43 MEMBERSHIP SERVICES 2015 KEY PERFORMANCE INDICATORS Linked to SG KPI: Increase Member Satisfaction by 10% 3 Improve the quality and relevance of CTO services and benefits Increase number of Members with Dues fully paid by December 2015 Retain 100% of members in good financial standing Increase non-government membership by 15% by December

44 Increase Member Satisfaction by 10% Membership Services Execute Member Survey Establish process of receiving feedback from National Tourist Offices Improve the quality and relevance of CTO services and benefits Increase number of Members with Dues fully paid by December 2015 Develop and implement portfolio of strategic programmes Establish process of assessing Base and Gold services / benefits Define and communicate the CTO value proposition Consistently communicate the achievements and successes of the CTO in tangible terms Retain 100% of members in good financial standing Consistently work on building strong, positive relationships with key stakeholders in respective countriestvs in at least 6 member countries Increase non-government membership by 15% by December 2015 Develop incentive programmes to increase non-gov t membership Articulate the CTO value proposition for non-government members 44

45 Research & Information Technology 2015 Mission: To strengthen Tourism decision making through building sustainable capacity and the provision of quality research, statistical analysis and Information Technology services to our member countries in order to strengthen and grow membership and the CTO Winfield Griffith Director, Research & Information Technology 45

46 RESEARCH & INFORMATION TECHNOLOGY 2015 KEY PERFORMANCE INDICATORS Launch Research & IT revenue-generation Business Plan Pilot by March 2015 Launch a series of technology-based tools by December 2015, to facilitate more efficient access to and use of Tourism data Linked to SG KPI: 5 3 Expand the available research on the regional tourism industry 3 Improve members ability to assess their tourism performance 3 Launch a content-rich destination section on OneCaribbean.org to support member promotion in key source markets 3 46

47 Research & Information Technology Launch revenue-generation Business Plan Pilot by March 2015 Pilot research and IT business plan Launch a series of technology-based tools by December 2015, to facilitate more efficient access to and use of Tourism data Redevelop and Install off-line/web-based MIST in 6 countries Develop and install off-line/web-based TSA tools in 6 countries Expand the available research on the regional tourism industry Publish two major pieces of research by December 2015 Publish quarterly and annual Caribbean Tourism Statistical updates Improve members ability to assess their tourism performance Conduct Guestpitality- TVS in at least 6 member countries Launch a content-rich destination section on onecaribbean.org to support member promotion in key source markets Move relevant content from European language sites to dedicated section on OneCaribbean.org Format and add pages with translated content 47

48 Resource Mobilization & Development 2015 MISSION: To mobilize resources for the organization and facilitate professional development activities to address the human resource needs of the sector in order to strengthen and grow membership and the CTO Bonita Morgan Director, Resource Mobilization & Development 48

49 RESOURCE MOBILIZATION & DEVELOPMENT 2015 KEY PERFORMANCE INDICATORS Linked to SG KPI: Raise US$500,000 in new donor funding 4 Improve planning and decision-making among regional tourism human resource professionals Support the development and adoption of standards for improved quality and performance of regional tourism 3 3 Expand and enhance the CTO regional training programme 3 Support the development of regional youth 1 Strengthen the human resource and leadership within the CTO an its member countries 1 49

50 Resource Mobilization & Development Raise US$500,000 in new donor funding Continue to build relationships with key donors/development agencies and regional organizations Improve planning and decisionmaking among regional tourism human resource professionals Seek funding to conduct a tourism labour market survey in the region Support the development and adoption of standards for improved quality and performance of regional tourism Expand the Hospitality Assured programme to more countries and businesses Expand and enhance the CTO regional training programme Support the development of regional youth Strengthen the human resource and leadership within the CTO Find opportunities and funding to support training Review and refresh the CTO s youth engagement programmes Strengthen the functioning of the CTO s Board of Directors and its engagement with the Ministerial Council 50

51 Sustainable Tourism 2015 MISSION: To champion sustainable tourism development in the Caribbean towards a viable, resilient and high quality tourism sector in order to strengthen and grow Membership and the CTO Gail Henry Sustainable Tourism Product Specialist 51

52 SUSTAINABLE TOURISM 2015 KEY PERFORMANCE INDICATORS Build the capacity of CTO Member countries in sustainable destination management Increase awareness of key sustainable tourism development issues Enhance CTO member countries capacity to address key sustainable tourism product development issues Develop greater engagement with the work of international and tourism development agencies for the benefit of CTO Members Linked to SG KPI:

53 Sustainable Tourism Build the capacity of CTO Member countries in sustainable destination management Assess tourism sustainability of at least three pilot destinations and provide analyses to identify areas of risk and opportunity. Disseminate knowledge and build capacity to assist these destinations to capitalize on their sustainability and leverage it as a differentiator. Increase awareness of key sustainable tourism development issues Enhance CTO member countries capacity to address key sustainable tourism product development issues Promote resource efficiency management in the tourism sector (e.g. energy, water, waste) Centralize access to sustainable tourism tools, guidelines and best practices Enhance enabling environment to realize the potential of Caribbean food, agro and health/wellness/spa tourism products Conduct/commission baseline research/situation analyses on growing sustainable tourism product areas e.g. eco and adventure Develop greater engagement with the work of international and tourism development agencies for the benefit of CTO Members Support where feasible, key global sustainable tourism initiatives e.g. those of the GSTC, UNWTO, WTTC, UNEP, UNESCO, IRENA and IUCN 53

54 CTO UK & EUROPE 2015 MISSION: To increase positive awareness of the Caribbean tourism product in the UK and Europe in order to strengthen and grow membership and the CTO Carol Hay Director, CTO UK & Europe 54

55 CTO UK & EUROPE 2015 KEY PERFORMANCE INDICATORS Linked to SG KPI: Grow UK Chapter Membership to 100 members 2 Improve travel trade engagement and training about the Caribbean Increase the effectiveness of online and social media marketing activities Implement a MICE Strategy to increase awareness of the sector Increase the level of engagement with the UK & European Media

56 CTO UK & Europe Grow UK Chapter Membership to 100 members Target cruise companies, tour operators, hotels and allied companies that have a vested interest in the Caribbean region to become members Organise and host a minimum of 10 bespoke UK Chapter events per year, including networking, media, social and fundraising events Improve travel trade engagement and training about the Caribbean Increase the number of travel agents/tour operator reservation staff on the Caribbean Travel Guru Training Programme by 100% Increase the number of tour operators featuring the Caribbean in key European markets by 10% Increase the effectiveness of online and social media marketing activities Implement a MICE Strategy to increase awareness of the sector Increase the CTO s UK & European website and social media metrics by 50% Develop a trade and consumer database using social media Create a MICE database of 50 UK & European MICE Buyers Establish CTO UK s first bespoke Caribbean MICE Workshop Increase the level of engagement with the UK & European Media Develop a European media database targeting 300 contacts Increase the number of media attending CTO s Media events by 15% 56

57 FINANCE & RESOURCE MANAGEMENT 2015 MISSION: To enhance the CTO s financial stability and sustainability in order to strengthen and grow membership and the CTO Neil Walters Director, Finance & Resource Management 57

58 FINANCE & RESOURCE MANAGEMENT 2015 KEY PERFORMANCE INDICATORS Linked to SG KPI: Collect 50% of membership dues arrears 5 Increase the CTO s net operating cash flow 5 Retain 100% of members in good financial standing 2 Enhance the use of technology for improved financial management across all offices 5 58

59 Finance & Resource Management Collect 50% of membership dues arrears Ensure members' financial records are up-to-date Ensure payment plans are in place for all members with more than one year of arrears. Increase the CTO s net operating cash flow Implementation of organizational budgets Continuous review of expenditure Retain 100% of members in good financial standing Constantly communicate the importance of good financial standing Timely communication of balances to members Enhance the use of technology for improved financial management across all offices Linking of all three CTO offices to a common accounting server More extensive automation of financial functions 59

60 THANK YOU! 60