BUSINESS EVENTS STRATEGIC INITIATIVE

Transcription

1 BUSINESS EVENTS STRATEGIC INITIATIVE

2 WHERE ARE WE TO DATE? Released Meetings Industry data at Annual Convention in July 2017 Shared draft strategy concept with CSMC leadership at IMEX Vegas in October 2017 Presented strategy concept at December 2017 board meeting in Savannah Presented Meetings Industry data and strategy concept at Convention Sales & Services Summit in December 2017 Launched Planner Influencer Board and held first meeting in February 2018 Presented Business Events Strategic Initiative to Joint Board in March 2018, and CSMC leadership in April 2018.

3 THE CVB AND THE FUTURE OF THE MEETINGS INDUSTRY STUDY

4 THE CVB AND THE FUTURE OF THE MEETINGS INDUSTRY STUDY (JULY 2017) Meeting planners assessment of the current state of the industry, feelings about the benefits and challenges anticipated in the future, and the ideal functions and leadership of the CVB in the meeting planning process. In partnership with Destination Analysts, Miles Partnership and Destinations International 569 surveys completed

5 EXPECTED CHANGES IN MEETINGS INDUSTRY (NEXT 3 YEARS) Meeting planners expect the development of convention centers, attendance figures at meetings and airlift to be elements that improve in the next few years while anticipating client budgets, the impact of hotel brand consolidations and their ability to negotiate with hotels to worsen. 40% When asked how they anticipate to be impacted by recent and potential hotel mergers/acquisitions, nearly 40 percent of meeting planners expect their bargaining positions to weaken (38.1%).

6 DESTINATION RESEARCH PRACTICES: TOP 5 BY PLANNER TYPE The CVB is present amongst the top five destination most typical research practices across meeting planner types. In addition to CVBs, their own experience and network, thirdparty planners frequently look to CVENT. Hotel corporate sales offices are go-tos for association and corporate planners. Underlining the importance of good marketing of the CVB site, general internet searches are common practice for corporate and SMERF planners. CORPORATE PLANNERS THIRD-PARTY PLANNERS ASSOCIATION PLANNERS SMERF PLANNERS My experience planning (58.4%) Word of mouth (54.4%) CVB/DMO hosted event(s) (58.4%) Hotel corporate sales office (41.6%) General internet search (40.8%) My experience planning (57.6%) CVB/DMO hosted event(s) (56.3%) Contacts at the CVB/DMO (55.0%) CVENT (54.3%) Contacts at the CVB/DMO (69.2%) Word of mouth (61.5%) Hotel corporate sales office (61.5%) My experience planning (57.7%) CVB/DMO website (55.7%) My experience planning (53.2%) Word of mouth (51.9%) Contacts at the CVB/DMO (45.6%) Word of mouth (49.7%) CVB/DMO website (53.8%) General internet search (41.8%) In general, which of the following resources do you regularly access when researching destinations in which to hold meetings or events? Base: 569 Completed Surveys

7 MEETING SUCCESS METRICS: TOP 5 BY PLANNER TYPE Across planner types, attendee satisfaction is one of the top success metrics. Destinations and CVBs that can assist the planner in achieving strong attendee satisfaction will thus be highly valued. In terms of the other top success metrics, for third-party planners, client satisfaction is obviously paramount (54.3%). Corporate planners look to whether meeting goals were achieved (40.0%), while association planners and SMERF planners strongly judge success by the number of attendee registrations. CORPORATE PLANNERS THIRD-PARTY PLANNERS ASSOCIATION PLANNERS SMERF PLANNERS Attendee satisfaction (40.8%) Achieving meeting goals (40.0%) Client satisfaction (36.0%) Attendee registrations # (24.5%) Attendee registrations # (25.6%) Staying within budget (19.2%) Client satisfaction (54.3%) Attendee registrations # (50.3%) Attendee satisfaction (29.1%) Attendee satisfaction (41.5%) Achieving meeting goals (23.2%) Cost savings negotiated (14.6%) Achieving meeting goals (25.9%) Attendee satisfaction (43.0%) Attendee registrations # (40.5%) Achieving meeting goals (30.4%) Client satisfaction (13.6%) Client satisfaction (29.1%) Attendee registrations $ (12.2%) Staying within budget (12.7%) Please think about how you most typically evaluate the success of the meetings or events you plan. Which of the following do you generally consider MOST IMPORTANT in measuring the success of a meeting or event? RANK THE TOP FIVE? Base: 569 Completed Surveys

8 Destination Expertise One Stop Shop Site Visits Hotel Selection Help Distribute RFPs 12.8% 18.1% 39.8% HOW WOULD YOU DESCRIBE THE CVBs ROLE IN THE MEETINGS PROCESS? Local Connections Liaison with Local Stakeholders Provides Support Saves Time and Money Provide or Facilitate Incentives Sell the City as a Place to Meet Initial Contact in a City General Planning Information Provide or Facilitate Incentives Start to Finish Partners Help with Onsite Issues (collateral, etc.) Connections with Vendors/Service Providers Help with Room Blocks Offsite Events (Info, Coordinate, etc.) Other 12.8% 12.3% 9.6% 8.9% 7.0% 7.0% 5.8% 5.3% 3.9% 3.1% 1.0% 1.0% 1.2% 0% 10% 20% 30% 40%

9 THE EXPERIENCED VS. INEXPERIENCED PLANNER 78.0% 52.9% More than three-quarters of planners (78.0%) rated the importance of CVBs in destinations they are unfamiliar with as 7 or higher on a 10-point importance scale. However, with return business, just over half of planners consider CVB services to be of similar importance (52.9%, rating 7 or higher).

10 PLANNER INFLUENCER BOARD: 20 TOP PLANNERS Association Influenc er Board Corporate Third Party Planners who aren t Planners

11 HOW DO YOU FEEL ABOUT CVBs CURRENTLY? Lack of consistency, Lack of clarity CVB people have no interest of ability to change. Planners are trying to reimagine their business model and CVBs need to be able to provide that type of consultation. This is an opportunity for Destinations International to train our members and train them to know the value that planners bring. There is a unique opportunity for CVBs to present forward-thinking ideas this is a true value-add to planners.

12 PROS There are over 600 CVBs, so we know that it works. They provide successful tools whether you are looking for a restaurant or a hotel. Relationships that work. GREAT DEBATE: PROS & CONS CONS Technology is going to going to take over and it is changing the way planners buy. CVBs haven t changed the conversations it has been the same for years. Planners are reimaging their role and CVBs need to be thinking about how to talk to planners who are going to have strategic conversations that are going to drive business.

13 GREAT DEBATE: PROS & CONS And the winner is A DRAW

14 EXTERNAL TRENDS Technology Data Collection (how to use it) Professionals entering the Field-Evolution of Profession Implications of Federal Spending Branding Safety and Security

15 INTERNAL TRENDS Technology Doing More with Less Bench Strength, Succession Planning, Staff Retention Restructuring, Staff Efficiencies Keeping up with Member Demands

16 GOALS FOR 2018 AND 3 YEAR PLANS Data driven insights to redesign meetings Content creation Finding reasonable rates Demonstration of ROI

17 Service, Orient, Nimble WORDS THAT MATTER Strategic partner/collaborative Transparent Connected/engaged in city/active (local strategic)

18 Strategic partner/collaborative FINAL WORDS Transparent Service oriented Connected/engaged in city (active partner) (local strategic)

19 DESCRIPTION OF THE CVB OF THE FUTURE Instead of selling, become a partner bringing solutions to the table. Be more customized and flexible. Getting recommendations and solutions from the CVB team is key. Provide resources that serve the planner s needs so planner doesn t have to outsource.

20 DESCRIBE THE MOST VALUABLE NEW SERVICE CVBs COULD PROVIDE TO A PLANNER? PLANNERS HAVE PROGRESSED, CVBS HAVE NOT EVOLVED Nearly one in five meeting planners responded that CVBs can innovate by continuing to improve on their core focus: destination expertise. Planner Influencer Board Member, February 2018

21 THE CHALLENGE Not about space, dates and rates. It s about meeting goals and objectives. PROBLEM: Meeting planners are unclear on the CVB Value Proposition Unclear on CVB value proposition/cvb not delivering on the value proposition Repeat use of the CVB declines after first event/meeting Changing landscape of the industry SOLUTION: Business Events Strategic Initiative Meaningful and sustained strategy to planners on the CVB value proposition Meaningful and sustained strategy to CVBs on delivery of value proposition One united voice - All of us coming together to solve this together Cohesive campaign and consistent content frequency across internal and external platforms

22 2017 FUTURES STUDY: A POINT OF REFERENCE DestinationNEXT has challenged the industry to think about the evolving role of destination organizations based on adaption to marketplace and community realities. With the release of the new Futures Study in 2017, the analysis revealed significant opportunities for destination organizations to pursue in sales and marketing; product development; and community leadership. Three transformational opportunities identified in the previous study remain highly relevant today: Sales & Marketing: shifting from broadcast to engagement and transactional to strategic Destination Management: playing a greater role in product development Business Model: greater emphasis on partnerships and collaboration

23 MAJOR FINDINGS: TOP 25 TRENDS RANK TREND CHANGE IN RANK 3 Customers increasingly seeking authentic and personalized travel experience Organizations developing strategic alliances in order to leverage resources. Customers increasingly expect highly curated and customized destination content from destination organizations. +19 New 16 Air access to a destination is a key challenge in attracting business travelers and meeting planners. New 19 Business events provide their delegates with more authentic, local experiences. New 21 Brand identity for destinations becoming more critical in terms of meeting planner perceptions about value and experience Technology makes travel products and services more transparent to the customer. New

24 DISRUPTORS: MEETINGSBOOKER.COM

25 GOALS & OBJECTIVES

26 BUSINESS EVENTS STRATEGIC INITIATIVE: GOAL THE GOAL IS TWO FOLD. To deliver to the planner the value proposition on why it is critical to work with CVBs when planning meetings and events AND to educate and provide CVBs with the tools, resources and best practices to deliver on that promise.

27 BUSINESS EVENTS STRATEGIC INITIATIVE: OBJECTIVES Develop meeting planner-facing campaign strategy to drive awareness of CVB value proposition. Evolve meetings product offerings (empowermint, MINT+, ORDA, EIC) for members to elevate awareness and resources to drive success. Facilitate business intelligence (data) sharing between planners and CVBs on event impact to drive awareness on the economic importance of meetings and events. Utilize Planner Influencer Board insights and guidance to implement strategy. Work with the CSMC leadership and Large Market Roundtable to implement CVB-facing delivery of tools, resources and best practices.

28 WHAT ARE OUR VALUE DRIVERS?

29 CVB VALUE DRIVERS Destination Influencer Community Connector Intellectual Capital Economic Impact Client Vision Advocate

30 VALUE DRIVER: DESTINATION INFLUENCER VALUE STATEMENT: CVBs are not only the destination experts, they are the influencer within the destination to drive maximum results for your event. CVB s serve as an extension of your staff to provide real time collaboration and access to the city experience. CVB s connect you to the resources you need to be your event advocate within the destination. CVB OPPORTUNITY TO DELIVER: Innovative. Collaborators. Knowledgeable. Destination Experts. Forward-Thinking. Honest. Insightful. Destination Insiders. Client Advocates. Respected. Strategic Partner.

31 VALUE DRIVER: COMMUNITY CONNECTOR VALUE STATEMENT: CVB s leverage destination partnerships to your advantage to help deliver the best in event services. CVB OPPORTUNITY TO DELIVER: Solutions Provider, Problem Solver. Local Access. Ready to Assist. Resourceful. Reliable. Service-oriented. Extension of your team. Provide best practices. Sensitive to needs. Relationship Builder. Active participants. Safety and security experts. Vigilant.

32 VALUE DRIVER: INTELLECTUAL CAPITAL VALUE STATEMENT: CVB s make the connections to local thought leaders and experts tailored to your event s meetings goal and objectives. CVB OPPORTUNITY TO DELIVER: Knowledge brokers. Experience innovation. Strengthen Collaboration. Co-Curator. Network Builder. Increase engagement. Inspire imagination. Sense of place.

33 VALUE DRIVER: ECONOMIC IMPACT VALUE STATEMENT: CVBs are acutely aware of the need to quantify the economic importance of events to their destination and customers. CVB OPPORTUNITY TO DELIVER: Transparent. Trusted. Authoritative. Metrics-driven. Impactful. Credible. Comprehensive. Event impact analysis. Return on investment.

34 VALUE DRIVER: CLIENT VISION ADVOCATE VALUE STATEMENT: CVBs will be an advocate for your business event strategy by being aligned and focused on your meeting objectives and business outcomes. CVB OPPORTUNITY TO DELIVER: Client-centric. Collaborative. Responsive. Strategic Partner. Trusted. Understand and deliver desired business outcomes.

35 TARGET AUDIENCE: THE PLANNER Coordinated messaging throughout the year to amplify the CVB value proposition. AUDIENCE: Association Corporate 3 rd Party Planners who aren t planners SECONDARY AUDIENCE: Decision Makers C suite executives NOT TARGETING THEM AS MEETING PLANNERS, BUT AS: Business Strategists Event Marketers

36 TARGET AUDIENCE: THE CVB Coordinated effort to educate and provide CVBs with the tools, resources and best practices to deliver on that promise. AUDIENCE: Destination organization CEOs, COOs, Sales and Marketing Leadership, Sales and Services teams Industry Partners PCMA, MPI, IAEE, IAVM, MMB, IMEX, EIC, etc.

37 TACTICS: BUSINESS EVENTS STRATEGIC INITIATIVE PAID CAMPAIGN Thought Leadership Case Studies and Best Practices Education Annual Convention, Summits, Sales Academy, Higher level webinar content TRADESHOWS AND EVENTS BUSINESS EVENTS STRATEGY THOUGHT LEADERSHIP Tradeshows & Events - Destination Showcase, Onsite Activations, Main Stage Opportunities Paid Campaign, Media partnerships, Proactive PR Strategy Rich Content Strategy video, case studies, enhanced web functionality, content distribution RICH CONTENT STRATEGY EDUCATION Metrics Reporting METRICS

38 TACTICS: EDUCATION Annual Convention Sales Academy Summits C- Suite Sessions PDM CDME Large Market Roundtable

39 TACTICS: PAID MEDIA & PR MONTH PUBLICATION RELEVANT TOPIC May May June August August September September September September October November December December December Convene Meetings Today M&C Successful Meetings Meetings Today Smart Meetings M&C Convene Meetings Today M&C Meetings Today Smart Meetings M&C Successful Meetings DMO/CVB Update The Attendee Experience CVB Supplement The Part-Time Meeting Planner Guide CVB & DMO Guide CVB Update Supplement Value Destinations DMOs Today Special Section Case Study: The Anatomy of a Convention Visionary DMOs CVB Update (Advertorial Opportunity) Citywides & Conventions Destinations International Supplement Planners Guide to Mid-Market Cities Smart Meetings Circ: 44,000; Corporate, Association, Third Party Meetings & Conventions Circ: 50,000; Corporate, Association, Third Party Successful Meetings Circ: 50,000; Corporate, Association, Third Party Convene (PCMA) Circ: 35,000 (30K are Corporate, Association, Third-Party. Remaining are suppliers.) Meetings Today Circ: 55,000; Corporate, Association, Third Party

40 TACTICS: DESTINATIONS INTERNATIONAL OWNED CHANNELS Destinations International will continue to reimagine our internal channels: Planner Database (Engagement/Awareness) Destination Showcase empowermint Site/Profiles, CVB contacts - Elevate CVB services and CVB staff listing Insights Newsletter - Digital Communications Webinars

41 QUESTIONS?

42 LEARNING LABS What are your thoughts? Breakouts based on: $10M and above operating budget (Gardenia II) $5-10M operating budget (Morning Glory) Under $5M operating budget (Oleander)