Posts Tagged ‘trends’

This Cool Trend is Continuing

Thursday, July 29th, 2010

Another casualty of the economy:  traditional incentive meetings.  Industry insiders agree that a new model is morphing for these multi-day junkets.  Now it’s a smaller party with a bigger purpose.  And that’s good news for experts.

Three ways we can take advantage of the new trends:

  • Instead of pure entertainment, a business portion is being added to the agenda.  Most popular here:  getting feedback from top performers.  Facilitators, this is a perfect fit for you.
  • I predicted this for years, and this trend is going strong:  training is now an important part of the meeting agenda.  More opportunities to interact with Corporate America is a good thing.  Yes, speakers and trainers are a natural fit for skill-building.  Consultants can get in on this act, too.
  • And, finally, charitable activities are on the rise.  This is a great area for CSR (Corporate Social Responsibility) experts — especially those with relationships in Sales and Marketing.

Corporate America’s 2010 Travel Spending Habits

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.

How a Brain Responds to a Brand

Thursday, June 3rd, 2010

I blogged on Tuesday about brain imaging and the revolutionary findings this science will bring to the market.  Here’s a great example of what’s to come:  an experiment that shows why a “brand” trumps product preference.

Remember the famous “Pepsi Challenge?”  When folks didn’t know what they were drinking, more people liked the taste of Pepsi than Coke.  What’s the deal?  Why would Coke beat out Pepsi in the marketplace if folks like Pepsi better in the taste test?

Scientists at the Human Neuroimaging Lab at the Baylor College of Medicine repeated the Pepsi Challenge while scanning the brains of volunteers.  Here’s what they found:  most people preferred Pepsi if the soda was not labeled, as in the original challenge.  A scan of a brain area associated with rewards, called the ventral putamen, responded five times more powerfully to Pepsi than to Coke.

But, when the researchers repeated the test with the cans clearly visible, almost all of the subjects preferred the familiar red Coke can.  Significantly, different areas of the brain responded.  The medial prefrontal cortex, which is associated with logical thinking and reasoned judgment, lit up when Coke was selected.  In other words, the preference didn’t have to do with the physical response to the taste so much as to the idea of Coke.

Moral of the story:  experiments like this make the power of branding real.  Watch for this area of boom beyond belief.  (No wonder everyone and their brother is a branding expert…)

The Age of Interpretation

Tuesday, June 1st, 2010

In this noisy market, sellers are desperate for an edge.  Something that will make them more attractive than their competition.  And the science deep pockets will use to do just that:  neuro-marketing.

It all started with neuro-imaging, a technology that sees how a brain responds.  Now, these scans are used in a different way:  neuro-marketing.  Yes, there are firms who offer brain scanning services to study the response to ads and buying trends of the most profitable prospects.  (Scary, isn’t it?)  You better believe that Corporate America will be all over this.  Those who crack the code on what customers are really thinking will be the new marketing gurus.

My prediction:  brain imaging will change how we predict and interpret our world.  This trend is not going away.  Those who take advantage of this research will be the next generation of marketing gurus.

How Experts Help Associations in 2010

Thursday, April 22nd, 2010

Fabulous study just came out last month about the association market.  It compares the views of almost 1,000 associations from Spring 2009 to now.  The good news:  the expected mass exodus from face-to-face meetings to virtual events didn’t happen as expected.  Almost 61% predicted last year that revenue here would increase.  The reality:  only 33% reported this outcome.  And the economic climate didn’t impact sponsorship or fundraising as much as feared.

The best (and hidden) opportunity for experts showed up in this stat:  62% think overall revenue will stay the same or increase within 12 months.  Only 48% think membership will meet the same fate.  Translation:  associations plan to shift more revenue generation into upselling the industry and their members instead of ramping up growth from new members.  And that’s where our products, research, etc. can help.  This is one of the best ways to interact with communities that need your expertise.  Theme for 2010:  partnership.

Goodbye Old Friend

Thursday, April 8th, 2010

One of my favorite industry insider pubs has gone to magazine heaven.  Training Magazine and its website is no more after last month’s issue.  I knew it was sick when the issues got smaller and smaller.  While I hoped that the community could live via the Internet, owner Neilsen Business Media is getting out of the trade publishing business.

Moral of the story:  even a well-respected expo, industry conference and a subscription base of 45,000 couldn’t save this platform.  Will be interesting to see what happens in the vacuum Training leaves behind.

Meeting trends speakers care about

Tuesday, February 9th, 2010

Theme for experts who speak:  be a bargain.  That’s what buyers are looking for now according to Meeting Professional International’s FutureWatch 2010.  Top three concerns:  budget cuts, doing more with less, and not having enough staff.  Basically saying the same thing in three different ways:  no money or time for frills.  Get ready for intense negotiations on speaker fees.  Your antidote:  have no less than five things you are giving away — for free — for every paid speech.

Yes, there is good news:  overall, respondents expect a 2.8 percent increase in meetings this year — especially the corporate market, where planners project a 3.6 percent increase.  Click here for a free summary of FutureWatch 2010.

Trends of Corporate America

Thursday, February 4th, 2010

Interesting findings from CareerBuilder’s 2010 Job Forecast survey.  Social media experts will have plenty of work this year, as organizations plan to restore their brands through these campaigns.  Other big opportunities loom for hiring experts, as organizations invest in efforts ranging from recruiting a diverse workforce to finding top performers.

Bad news for meetings, especially in the association market:  Corporate America will continue to cut travel expenses in this year.  Why do we care?  Because convention attendees won’t go unless their employers pay for travel.  Which means attendance challenges will continue to dog these groups, which means less money for speakers.  Their antidote:  virtual meeting attendees for association conventions.  Stay tuned…

New venues for educational content

Tuesday, November 24th, 2009

Like incentive meetings, fam trips — those hospitality tours to showcase hotels and locations — are undergoing an extreme makeover.  What’s hot now:  education sessions for meeting planner attendees.  Topics are wide-ranging, with the main criteria being CEU credits.  Including seminars with these credits has boosted attendance for Las Vegas Harrah’s trip, which gets 1200 applications for just 175 slots.

Why do you care?  Let’s stop and think…where do you think they get the speakers for these sessions?  Some will be other meeting planners/industry insiders and some will be local folks with something to share.  In this age of competing venues for attendees, watch this trend steadily grow next year.

Top draw to trade shows

Thursday, October 22nd, 2009

Interesting study from Meetings and Conventions magazine:  the biggest draw to trade shows is not the booths.  According to 83 percent of the respondents, the #1 reason for attending is the education seminars.  And 93 percent cite that these events are extremely / somewhat important.

So why are trade shows less attended?  Yep, it’s the economy and lack of time.  And…one-third of respondents report that they are attending just as many shows as last year.

What’s going to happen next year?  Education will continue to be the major draw, but don’t expect the inclusion of the general motivational speaker.  Prediction:  prominent industry folks will reign, along with tactic-driven sessions.