For the meetings industry, we’ve got an interesting mix of good/interesting news for next year. According to Meetings Trends 2010 survey, planners are optimistic about the return of meetings. Yep, the era of canceled meetings is over. The newest threat on the horizon for speakers: meetings are back, but the budgets are flat. About 45% of corporate planners report no increased budgets for their meetings. This matches a lot of antidotal information out there — every expense will be scrutinized. Be prepared to negotiate everything: speaker fees, travel, even for books.
Archive for December, 2009
Meeting budgets flat for 2010
Thursday, December 31st, 2009It’s Christmas Eve
Thursday, December 24th, 2009…so I’m keeping it short. It’s been a wild ride this year and 2010 will be no different. Mistakes will not be easy to correct; the stakes are really high. Use this time to get clear about how you will serve and what you want in exchange. Ask yourself: what am I willing to do to get what I say I want?
Look around and marvel at what you have and who loves you. There are those who have much less. Happy holidays and may 2010 be your best year yet!
Testimonials and the FTC
Tuesday, December 22nd, 2009Yep, the Feds are on the lookout for those “magic pill” testimonials — the kind that say “I took this pill and lost 400 pounds!” The requirements were finalized back in October and went into effect December 1st.
I’m not a lawyer, but I’ve read the regs direct from the Federal Register. My take: we need to include caveats with our results. The “results may vary” verbiage isn’t going to cut it now. But let’s listen in directly to what the FTC says. Good friend Debra Thompson Roedl passes this interview with the FTC along: http://www.igottatellyou.com/blog/ftc-change-interview/
The Feds want buyers to know that they need to do more than just hiring you to get the results. So ask yourself: what did your clients do to implement your recommendations? Include that answer in your fine print and I think you’ll be fine.
What to do now for 2010
Thursday, December 17th, 2009I love this time of year — one of the few periods that I come up for air and can look around. The agenda: family, friends and fun…and getting ready for next year. If you’re gearing up to hit the ground running, here’s my suggested to-do list:
- Check out your sales results: How many conversations did you have this year? How many of those were with qualified buyers? What percentage of those did you close? And most importantly, what were the top three reasons for not working with you? These answers are a great barometer. Change your prospecting, your process and your pitch accordingly.
- Assess your infrastructure: How’s your website? Is it still accurate? Does it position you well for picky buyers? If not, list your needed changes. Checklists get done faster than the mental list of to-do’s. If your websiite is fine, then great. Repeat this process for your media and other marketing tools.
- Plan out your promotion: What are you promoting when and to whom? Make a list then step back and ask yourself: Is this enough? Too much? Will my community support this effort? Do I have options for all my target markets? This is a great time for tweaking copy and timelines.
This is a great time to “sharpen the saw.” Next year is going to be a zoo…
Mixed blessings from MPI
Tuesday, December 15th, 2009After using MPI’s Business Barometer as an example of cool findings in my last post, I thought it fitting to drill down. Really a mix of good news and bad news:
- Strongest meeting segment in U.S. associations, followed by U.S. corporations.
- Yes, the criticism of meetings has gone away, but watch what happens when one of the big banks (or Goldman Sachs) parties like it’s 1999.
- Two-thirds of those surveyed said that attendance is down; about 60% say their spending for meetings is down.
Bottom line: guarded optimism will ring in 2010. Prepare to compete for more picky buyers.
Use this trend to promote your speaking
Tuesday, December 8th, 2009Picked this tip up from MeetingsNet last month: cutting speaker travel costs is a priority now, so let’s use that to our advantage. Veteran speakers know to promote their programs to groups meeting in the same city. The problem: how to find who’s meeting at the hotel. Two ideas to find out about these groups: ask the hotel for a calendar of events. If they won’t give it to you, ask the planner and they’ll definitely get the list. If you want to go citywide, get a meetings calendar from the visitors and convention bureau.
Why the recovery won’t help everyone
Thursday, December 3rd, 2009Good news: economists are pointing to a recovery next year. Unfortunately, this rising tide won’t lift all boats. In the meetings industry, buyers are gearing up to use content as a major marketing tool in 2010. That means you better have the goods; fluff is dead. Bottom line: how you describe who you are and what you do will be the deal breaker. I’m unveiling the top five predictions for 2010 on Tuesday’s Here’s the Deal call. Click here to learn more and to register.
Standing out in a noisy market
Tuesday, December 1st, 2009Another thing to be thankful for: no one threw anything during my speech at the National Speakers Association Fall Conference before Thanksgiving. What I heard outside the sessions: folks are gearing up with huge “get out there” plans for 2010. Expect competition to heat up and for a noisy market to get just plain deafening. I’m cooking up a plan for cutting through the clutter at next week’s Here’s the Deal call. Click here to join me.
