More than 300 Ways to Improve Your Meeting's Bottom
Line
Compiled by Louisa Davis, CMP / CMM
There are many, many ways to improve your meeting's
bottom line. Sometimes it isn't just a matter of increasing
revenues or decreasing expenses, but of "working
smarter" to save time and effort or by changing
the way you do things to bring more perceived value
to your meeting and its content.
Never cut costs for the sake of cutting costs, do it
with a strong sense of what is important to your delegates.
An association of mostly male scientists may not notice
expensive centerpieces at the banquet, but don't ever
dare cut back on their opening reception free drink!
Look at all elements of your meeting. Is there a way
to reduce, recycle or replace an item? Do you really
need a delegate's bag or would an envelope do? Can you
cut back on the meal portions served at a dinner? Or
eliminate the soup at the lunch? Is there a way to re-think
how you do something? Question why you do certain things
a certain way. Can the invitations be sent by fax or
e-mail? Can you announce next year's conference through
a promotional item, instead of having a separate delegate's
gift and invitation? Examine the 4 R's of cost saving:
reduce, recycle, replace and re-think... for all the
cost and revenue centers in your budget.
Seek out revenue opportunities. Ask for sponsorship
in unusual areas. Add an early-bird registration discount.
Charge for cancellations. Sell spin-off promotional
items and services. Offer shipping services, photocopying
services.
Increase the perceived value of your meeting. Through
careful planning, participant evaluation and feedback
- assess what is most important to your delegates, your
clients and your sponsors. Little touches like welcoming
letters at their hotel room can make a big difference.
Add "wow" to your meetings, through creative
and value-driven elements. Deliver the content in your
programming, include elements of interaction, and provide
networking opportunities.
The complete article is available in PDF form:
More than 300 Ways to Improve
Your Meeting's Bottom Line
|
