NORTH AMERICAN CONVENTIONS, MEETINGS & INCENTIVES INDUSTRY

Transcription

1 NORTH AMERICAN CONVENTIONS, MEETINGS & INCENTIVES INDUSTRY Caribbean Tourist Organization June 8, 2010 New York

2 Agenda Brief Economy Industry Overview Players in the Markets Tradeshows CRM Tools RFP Process Industry Publications Wrap Up

3 Facts The Market

4 Facts It s not about leisure.... it s all about business! It s not just about rates.... it s about added-value, ROI, ROO!

5 Facts It s not just about sea, sun, and sand.... it s about engagement, enrichment, team building, CSR! It s not just about your destination knowledge.... it s about your industry knowledge!

6 Facts It s B2B, 1-on-1 business.. you must be an expert! Business dictates the industry!

7 Economy U.S. Indicators Consumer Confidence Index 5.6 pts U.S. Leading Index 1.4% Help-Wanted Online 222,700 Employment Trends Index 0.8% CEO Confidence 2.0 pts

8 Economy April 3, 2010

9 Industry

10 Industry

11 Industry

12 Industry April 2010

13 Industry

14 Industry

15 Industry

16 Industry ICCA 2008 Report

17 Industry Headquarters of organizations ICCA 2008 Report

18 Industry Average number of participants per region ICCA 2008 Report

19 Industry Average number of meetings per month ICCA 2008 Report

20 Industry Congress venues used ICCA 2008 Report

21 Industry Average size of international meetings: 667 delegates Average total expenditure per day per delegate: US$ Average total expenditure by delegates per meeting: US$1,586, ICCA 2008 Report

22 Industry 1. Cautious optimism in 2010, with strong pacing for Booking in the month, for the month, but at least meetings 3. Extreme price sensitivity, with hotels once again competing for business 4. Meetings smaller, duration shorter 5. Being green assumed 6. No frills meetings 7. Internet bandwidth 8. Price negotiations 9. Health-conscious F&B 10. Social media and the meeting industry

23 Industry The U.S. Meeting Crisis TARP = Troubled Asset Relief Program

24 Industry The U.S. Meeting Crisis One American in 8 works in the travel industry US$100 billion a year is spend on business meetings US$240 billion a year is spent on business travel US$740 billion a year is spent in travel

25 Industry The U.S. Meeting Crisis

26 Industry AHLA - ASAE - DMAI - IAEE - MPI - NBTA - PCMA - SITE U.S. Travel Association

27 Industry Associations

28 Industry Accreditation CMP CMM CDME

29 Players in the Industry Association Programs Corporate Programs Associations Corporations Association Management Companies Independent Planners 3 rd Party Planners Meeting & Incentive Travel Management Companies Travel Agencies

30 Players in the Industry Associations / Association Management Companies Corporations Independent Meeting Planners Third Party Planners Meeting & Incentive Travel Management Companies Travel Agencies

31 Associations

32 Associations a formal organization of people or groups of people; the act of consorting with or joining with others Non-for-profits organizations Executive Boards, Board Members and Local Members Decision-making process varies Longer lead time up to 5 years! Requires a lot of hand-holding from local suppliers

33 Associations Conventions, Exhibitions, Seminars, Symposiums and Board Meetings No. of attendees from 10 to 10,000+ Convention Centers, Hotels and Universities

34 Associations EXAMPLES: Institute of Electrical and Electronics Engineers (IEEE) Talley Management Group Council for a Parliament of the World's Religions

35 Corporations

36 Corporations For-profit Board Members, Local Offices, Procurement Departments Abbreviated Lead Time as quick as 2 weeks! No rotation Requires immediate responses

37 Corporations Board Meetings, Sales Kick-Offs, Investigator Meetings, Training Seminars, Industry-Exams and Incentives Corporate transient contracts No. of attendees from 10 to 10,000+, but average under 500 persons Convention Centers, Hotels and Resorts

38 Corporations Examples: Exxon Mobil McKinsey & Co Pfizer

39 Meeting & Incentive Travel Management Companies Formally incentive houses - Maritz - Carlson Marketing Company Mix of association & corporate clients Clients are decision-makers Managers have preferred suppliers

40 Third Party Planners Commission in the Name of the Game!

41 Independent Planners Experienced planners Work exactly like Third Party Planners but without the established company name Send out mass RFPs

42 Travel Agencies Weddings, smaller incentives and corporate transient programs Corporate transient travel

43 Meeting Planners are Not Travel Agents Don t drop in, make an appointment Don t just talk, listen Don t leave a brochure, provide expertise Don t have a fam-trip, plan a study tour Don t visit all of the time, keep in contact all the time Don t just , make a follow up phone call Don t just know the company s name, familiarize yourself with the nature of the business

44 Where in the North America?

45 Players in the Destination Convention Bureaus (CVBs)

46 Players in the Destination Professional Congress Organizers (PCO) - International Association of Professional Congress Organisers (IAPCO) Destination Management Companies (DMC) - Society of Incentive Travel Executives (SITE)

47 Players in the Destination Hotels - International Chains - Regional Chains - Boutique Properties Transportation Companies - Car service

48 Where to MEET? IMEX May 24-26, 2011 Frankfurt, Germany IMEX AMERICA Brand NEW Show!! October 11-13, 2011 Las Vegas, Nevada

49 Where to MEET? EIBTM November 30 December 2, 2010 Barcelona, Spain AIBTM Brand NEW Show!! July 21-23, 2011 Baltimore, Maryland

50 Where to MEET? MPI WEC July 24-27, 2010 Vancouver, Canada ASAE Annual Meeting August 21-24, 2010 Los Angeles, California

51 Where to MEET? PCMA International Summit September 23-25, 2010 Toronto, Canada Successful Meetings University Caribbean & Islands: July 12-15, 2010 Paradise Island, Bahamas West Coast: November 14-16, 2010 Location TBC

52 Just Say No to Excel! Industry-specific database is necessary to help track business and potential leads

53 Where s the Business?? REPEAT BUSINESS

54 North American Planners RFP Hotel Rep CVENT HelmsBriscoe MCIntl CB Hotels DMC

55 You Received an RFP now what? When do you respond? How do you record the RFP? How do you respond to planner? What if your island is not a right fit for the program? Who receives the RFP? What information do you relay to suppliers?

56 You Received an RFP now what? 1. Identify the type of RFP 2. Review the specifications: which suppliers will receive the RFP? 3. Note the DEADLINE! 4. Confirm receipt of RFP IMMEDIATELY to planner 5. Follow up and maintain regular contact with planner

57 Follow up, Follow up and More Follow up!

58 I Need a Fam Trip Tips for Spotting Fam address P.O. Box mailing address Doesn t have a website Withholds program history and critical information Must be accompanied by business partner, i.e. spouse I need to see the destination before booking it!

59 Key Industry Publications Diane DiMaggio International Advertising Director Successful Meetings Meeting News Incentive