NORTH AMERICAN CONVENTIONS, MEETINGS & INCENTIVES INDUSTRY Caribbean Tourist Organization June 8, 2010 New York
Agenda Brief Economy Industry Overview Players in the Markets Tradeshows CRM Tools RFP Process Industry Publications Wrap Up
Facts The Market
Facts It s not about leisure.... it s all about business! It s not just about rates.... it s about added-value, ROI, ROO!
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!
Facts It s B2B, 1-on-1 business.. you must be an expert! Business dictates the industry!
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
Economy April 3, 2010
Industry
Industry
Industry
Industry April 2010
Industry
Industry
Industry
Industry ICCA 2008 Report
Industry Headquarters of organizations ICCA 2008 Report
Industry Average number of participants per region ICCA 2008 Report
Industry Average number of meetings per month ICCA 2008 Report
Industry Congress venues used ICCA 2008 Report
Industry Average size of international meetings: 667 delegates Average total expenditure per day per delegate: US$691.00 Average total expenditure by delegates per meeting: US$1,586,873.00 ICCA 2008 Report
Industry 1. Cautious optimism in 2010, with strong pacing for 2011 2. 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
Industry The U.S. Meeting Crisis TARP = Troubled Asset Relief Program
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
Industry The U.S. Meeting Crisis
Industry AHLA - ASAE - DMAI - IAEE - MPI - NBTA - PCMA - SITE U.S. Travel Association
Industry Associations
Industry Accreditation CMP CMM CDME
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
Players in the Industry Associations / Association Management Companies Corporations Independent Meeting Planners Third Party Planners Meeting & Incentive Travel Management Companies Travel Agencies
Associations
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
Associations Conventions, Exhibitions, Seminars, Symposiums and Board Meetings No. of attendees from 10 to 10,000+ Convention Centers, Hotels and Universities
Associations EXAMPLES: Institute of Electrical and Electronics Engineers (IEEE) Talley Management Group Council for a Parliament of the World's Religions
Corporations
Corporations For-profit Board Members, Local Offices, Procurement Departments Abbreviated Lead Time as quick as 2 weeks! No rotation Requires immediate responses
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
Corporations Examples: Exxon Mobil McKinsey & Co Pfizer
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
Third Party Planners Commission in the Name of the Game!
Independent Planners Experienced planners Work exactly like Third Party Planners but without the established company name Send out mass RFPs
Travel Agencies Weddings, smaller incentives and corporate transient programs Corporate transient travel
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 email, make a follow up phone call Don t just know the company s name, familiarize yourself with the nature of the business
Where in the North America?
Players in the Destination Convention Bureaus (CVBs)
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)
Players in the Destination Hotels - International Chains - Regional Chains - Boutique Properties Transportation Companies - Car service
Where to MEET? IMEX May 24-26, 2011 Frankfurt, Germany IMEX AMERICA Brand NEW Show!! October 11-13, 2011 Las Vegas, Nevada
Where to MEET? EIBTM November 30 December 2, 2010 Barcelona, Spain AIBTM Brand NEW Show!! July 21-23, 2011 Baltimore, Maryland
Where to MEET? MPI WEC July 24-27, 2010 Vancouver, Canada ASAE Annual Meeting August 21-24, 2010 Los Angeles, California
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
Just Say No to Excel! Industry-specific database is necessary to help track business and potential leads
Where s the Business?? REPEAT BUSINESS
North American Planners RFP Hotel Rep CVENT HelmsBriscoe MCIntl CB Hotels DMC
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?
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
Follow up, Follow up and More Follow up!
I Need a Fam Trip Tips for Spotting Fam Scammers @aol.com email 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!
Key Industry Publications Diane DiMaggio International Advertising Director Successful Meetings Meeting News Incentive