Strategic Meetings Management

Non-TARP Companies Cancel Events Over Misperceptions About Meetings

Uncontrolled fear and lack of meeting information makes you do things you regret later -- for example, cancel important meetings because you're worried someone in the government or the public will think they're too lavish. My case in point: a late February poll from Meetings & Conventions magazine says that, while only nine percent of the 135 planners that M&C surveyed work for firms receiving TARP funds, 21% canceled meetings because of the recent rash of negative media attention around meetings at firms receiving government bailout money. More than half the survey’s respondents said the backlash has been "extremely or moderately influential" on their decisions to hold events.

 

While I'm seeing some more positive press about the value of meetings, especially during down business cycles (see March 5th post), this new survey shows that fear about how others view meetings can spread to healthy companies that don’t owe the government a penny in emergency funding.

Yet, the survey had nuggets of positive news! Of all respondents, more companies are adopting strategic meetings management tactics -- the best way to ensure meetings are in line with budgets and produce good ROI. The poll said 39% are adopting new policies around meetings and events either to meet federal requirements, follow industry recommendations or demonstrate good faith and intelligent spending.
 

If you’re afraid of potential bad vibes around your companies’ meetings,
here’s a few best practices to head them off:
 

• Step up communication on the value of events to attendees and senior leaders, for example, in emails, invitations and registration material on your meeting website.
• Collect good ROI measurements, for example, with post-session evaluation materials.

If there was ever a time to demonstrate your value and that of your SMMP, now is the time!  Be vocal and talk about what you’re doing during this economic downturn!