The meetings and events industry has come under tremendous pressure lately in regards to incentive trips, corproate parties, and more. We all know that unless you are in this industry it is difficult to understand the impact and importance it has not only on the economy as a whole but also on specific companies within the indsutry. I think that our industry would be better served trying to explain to the media the ROI of events and meetings and their real marketing value rather than just defending them without giving any practical reasoning behind it. The cancellation of the meetings and events cost the company money as well as the vendors such as hotels, caterers, decor companies and more. Despite all this, the fact is that our industry is going to be forced to consolidate. Many companies will go bankrupt, downsize or reduce the amount of meetings and events that they hold. The key to the future and what will determine if you survive through this is if you continually provide real world value to your existing clients and future ones too. We can no longer rely on companies calling us because they have big budgets or it is an annual tradition. If you can accomplish this, your company will benefit and be one of the last ones standing when the smoke clears.
What kind of real value are you giving to your clients?
Joshua Gair – Impact Entertainment