Posts Tagged ‘economy’
Tuesday, July 27th, 2010
Want to know what’s going on with corporate meeting spending? Ask the financial execs at the top. That’s exactly what AmEx did with CFO Research Services. Their recent survey of nearly 500 senior financial executives of global companies doesn’t look good for us experts. The stats: 26 percent project an increase in travel spending; 31 percent expect “no change”; while 44 percent plan further cuts. Maybe I’m just a half-empty sorta girl, but that last number isn’t good for corporate meetings.
The silver lining: the trend line for outside meetings is more positive. In 2009, 79 percent of respondents to the survey said their companies were likely to restrict travel to conferences and events; only 35 percent plan to do so this year. That sounds great until we remember that many associations are going the free speaker route to save money.
Bottom line: the paid speaking gigs are not in the usual places. They are in the nooks and crannies. Get out your flashlight and go find them.
Tags: budgets, economy, Marketing, meetings, positioning, speakers, Speaking, strategy, trends, Vickie Sullivan
Posted in Marketing, Speaking, strategy | No Comments »
Tuesday, July 13th, 2010
Gearing up for the NSA Convention in Orlando this week. Know that I’m going to be asked a lot of questions about the market. Two words: cautious optimism. Yes, things are rebounding but look beneath the surface and some cracks are still there. Example: yes, association meetings are back and some groups are posting record-breaking attendance. However, industry insiders point to meetings consolidating and pent-up demand from our year-long dry spell in the association market. And this doesn’t help: the sugar daddy of the meetings industry — the corporate market — remains flat. Until that spending increases, be prepared for a roller coaster ride.
Tags: economy, Marketing, meetings, Vickie Sullivan
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Thursday, May 20th, 2010
Another area of rapid recovery this year: sponsorships in general. Industry giant EIG reports that Corporate America continues to be on the prowl for new deals this year. Other interesting stats:
- 66% report looking for new deals — slightly more than 2009’s uptick of 60%
- Budget cuts are still around, but not as much: 31% say they will cut sponsorship spending this year; yes, this is good news as 51% decreased spending last year. About half report the same budget for 2010.
- 41% spend NOTHING to evaluate prospective partnerships. Translation: decisions are very subjective and “fit” is open to interpretation.
- Speaking of fit, co-branding new products shot up in popularity this year. For us content producing machines, this means joining forces with associations and other industry groups is a no-brainer.
Tags: 2010, associations, branding, economy, opportunity, Sponsorship, strategy, Vickie Sullivan
Posted in Marketing, Sponsorship, strategy | No Comments »
Thursday, November 26th, 2009
It’s Thanksgiving here in the U.S. This holiday reminds me of two things: 1) the holiday season has begun; and, 2) that’s when people get sloppy.
Given the challenging economy, it’s tempting to focus on the festivities and virtually shut down your business. No one’s making decisions anyway, right? Wrong. Now is not the time to hibernate. It’s time to look back and be thankful for every single thing that happened — either you succeeded and learned something or you just learned something. There is always someone worse off than you. Be thankful for every thing you have and move forward — what you do right now impacts 2010.
Tags: economy, holidays, Marketing, strategy, Vickie Sullivan
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Thursday, July 23rd, 2009
Whew! That was close. The Treasury regs on meetings are out and the travel industry heaved a collective sigh of relief. No big problems — just requiring a bunch of procedures. U.S. Travel Association and the National Business Travel Association applauded the new guidelines. Yes, the comment stage is still open, but no one expects material changes. Will go into effect the middle of August.
A great example of how to turn the tide of negative perceptions. What the industry focused on: their value in the overall economy. Which begs the question: how are we experts showing up? Are we showing our value in the bigger picture? Are our descriptions specific? The cutbacks won’t last forever – but the perception of value will last a long time. No more pie in the sky promises. The more specific, the better.
Tags: branding, economy, experts, meetings, positioning, strategy, travel, Vickie Sullivan
Posted in Marketing, Speaking, branding, strategy | 1 Comment »
Thursday, January 29th, 2009
As if the gloomy economy isn’t enough change, a new customer mindset is the second of a one-two punch for Corporate America. Are they still spending money? Yep, especially later this year. But what they are spending on will outlast the current economic turmoil.
Consumers are still demanding and what they want most: time with a perfect fit. Convenience, customized solutions, and service that goes beyond business hours. The winners here: technology experts who help organizations adapt to 24/7 service models and customized delivery. Marketing experts who tie good causes to new market strategies. And diversity folks specializing in reaching ethnic markets such as Hispanic buyers.
Tags: economy, experts, strategy
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