As discussed in last week’s post, meetings management programs have developed a reputation for being difficult and incredibly time-consuming to implement. This blog series will help you simplify the process and achieve executive buy-in and company adoption.
Historically, meetings program managers embraced this initiative for the potential cost savings. Strategic meetings management research proved that companies spend 1-3% of their revenue on events and meetings while implementing a program could save you anywhere from 25-65%. What we quickly learned is that for some companies, dollar value itself is not reason enough to execute a new program and undertake the obstacles of change management. For heavily regulated industries such as the financial sector or life sciences, the ability to access data and ensure processes that are compliant with corporate or federal regulations is a key driver for a meetings management program.
But what about companies in non-regulated industries with a primary organizational goal of growth (and not necessarily decreasing costs)? Where do they fit into the strategic meetings management picture?
Let’s dive into business automation and return on event (ROE). Business automation helps create employee efficiency, which means being able to do more in less time while achieving higher goals. ROE is the newest concept to the world of meetings management, and it is helping change the conversation. Typically reserved for marketing departments, it focuses on understanding the business impact of your events and meetings.
For more information on working with your marketing department, check out this recent article by MeetingsNet.
The bottom line? Before undertaking the process of selling a meetings program in your organization, think about what will resonate with your executive team. Is it one of the six most quoted benefits – Visibility, Risk Mitigation, Compliance, Cost Savings, Business Automation, Increase ROE – or is it something else?
Think about your company and its long- and short-term goals, and map a cohesive strategy. When you present to executives you’ll already be speaking their language and one step ahead of the game.