© 2011, Educational Institute Chapter 5 Selling the Corporate Meetings Market Convention Management...
-
Upload
warren-simpson -
Category
Documents
-
view
214 -
download
0
Transcript of © 2011, Educational Institute Chapter 5 Selling the Corporate Meetings Market Convention Management...
© 2011, Educational Institute
Chapter 5 Selling the Corporate Meetings
Market
Convention Management and ServiceEighth Edition
(478TXT or 478CIN)Courtesy Loews Hotels
© 2011, Educational Institute 2
Competencies forSelling the Corporate Meetings Market
1. Identify factors that corporate meeting planners consider when making a site selection.
2. Describe the different types of corporate meetings.
3. Identify characteristics of corporate meetings that are important for selling to the corporate market.
4. Identify who typically decides where to hold a corporate meeting.
5. Describe the tools salespeople use to locate corporations and to find information about the meetings they hold.
© 2011, Educational Institute 3
Corporate Meeting Trends
• More regional rather than national meetings
• Looking to second-tier cities
• Using telepresence or webinars to save on travel costs
• Less flamboyant and more strategic and practical
• Corporate meetings offer the greatest potential for growth
• A majority of corporate meetings have fewer than 50 attendees, making it an ideal market for small properties
© 2011, Educational Institute 5
What Corporate Meeting Planners Look For
1. Quality food service• F&B functions are major
contributors to success of an event• Very important to planners
and attendees
2. Adequate meeting space• Business centers
3. Service• Most important element in repeat business
4. Enough guestrooms• Prefer to use only one host property
(continued)
© 2011, Educational Institute 6
What Corporate Meeting Planners Look For
5. Convenient location• Downtown, airport, certain suburban properties, and
conference centers• Boutique/lifestyle hotels
6. Attractive location• Consistent with image of the corporation• Especially true for incentive meetings
7. Security• Prefer to meet away from busy areas• Often prefer to be the only group in the hotel
(continued)
© 2011, Educational Institute 8
Types of Corporate Meetings
1. National and regional sales meetings
2. New product introduction/dealer meetings
3. Professional/technical meetings
4. Management meetings
5. Training meetings
6. Stockholder/public meetings
7. Incentive meetings
© 2011, Educational Institute 10
Sales and New Product Introduction/Dealer Meetings
Sales Meetings• One of the largest sectors of the corporate
meetings market• National attendance about 150, duration 3-4 days• Regional attendance about 65, duration 2-3 days• Meetings may involve new product introductions,
sales training, or morale building• Good source of repeat business for hotels• Generally staged by the sales and marketing
department of each division of a company(continued)
© 2011, Educational Institute 11
Sales and New Product Introduction/Dealer Meetings
New Product Introduction/Dealer Meetings• National and regional in scope• Method of creating enthusiasm• Vary greatly in size and duration• Attract top company management, stockholders,
and the press• Excellent chance to "show off" the property and
attract new business
(continued)
© 2011, Educational Institute 12
Professional/Technical and Management Meetings
Professional/Technical Meetings
• Often take seminar and workshop formats
• Lecture and demonstration by consultants, educators, and/or vendors
(continued)
© 2011, Educational Institute 13
Professional/Technical and Management Meetings
Management Meetings• May be regular events, or in response to
specific situations• Usually small in size, but premier facilities
are required• Attendees are prospects for divisional or
company meetings• Geographical location varies greatly• Commonly last two days
(continued)
© 2011, Educational Institute 14
Training and Stockholder/Public Meetings
Training Meetings• All levels of corporate personnel require training• Training meetings in hotels account for the largest
number of corporate meetings• Attendance is usually less than 50• Duration is usually 3 days• Special requirements: A/V capability, minimal
distractions, adequate light, prompt service• Rarely require prestigious locations• Trainers tend to return to hotels where everything
worked out well(continued)
© 2011, Educational Institute 15
Training and Stockholder/Public Meetings
Stockholder/Public Meetings
• Meetings for nonemployees
• Public relations and industrial relations hold exhibits and meetings
(continued)
© 2011, Educational Institute 16
Incentive Meetings
• 85 percent of all incentive trips include a meeting
• Attendees and planners look for first-class service and accommodations
• Bookings usually guaranteed
• Participants use all of the facilities of the hotel
• Usually indicates high revenue
• Group incentive travel averages 130 attendees for a 5-day trip
• Individual incentives are growing in importance
© 2011, Educational Institute 18
Characteristics of Corporate Meetings Small meetings
Time cycle
Lead time
Geography
Kinds of sites
Attendance• Mandatory• Highly predictable• Use of rooming lists and VIP lists common
Duration: average 3 days
(continued)
© 2011, Educational Institute 19
Exhibits
Meeting room requirements
• Especially need breakout rooms near larger rooms
Repeat business
Multibooking potential
One meeting—one check: master account
Meetings business brings other business
(continued)
Characteristics of Corporate Meetings
© 2011, Educational Institute 21
Corporate Meetings—Cycle/Patternand Lead Time
Cycle/Pattern• Irregular• As-needed basis• Usually midweek
Lead Time• Short compared to associations• Incentive meetings: 8–12 months to 2 years• Annual sales meeting: 8–12 months• Most others: 3–6 months• Crisis meetings: virtually no lead time
© 2011, Educational Institute 22
Corporate Meetings—Geography and Kinds of Sites
Geography• No pattern• No reason to vary site to attract attendees, since
attendance is mandatory• Convenience is most important geographic criterion
Kinds of Sites• Variety; depends on purpose of meeting and
position of attendees• Each property has the right features to host some
kind of corporate meeting
© 2011, Educational Institute 23
Corporate Meetings—Repeat Business and Multibooking Potential
Repeat Business• Training meetings• Crisis meetings
(continued)
© 2011, Educational Institute 24
Multibooking Potential• Same meeting program may be repeated in
several locations• Good for
a) chains, b) hotels with cooperative agreements with
hotels in other cities, and c) hotels that use independent hotel
representatives• More difficult for independent hotels to attract
corporations that repeat meetings
(continued)
Corporate Meetings—Repeat Business and Multibooking Potential
© 2011, Educational Institute 28
Techniques for Selling Corporate Meetings
• Sell the decision-maker, not a go-between.
• Start at the top of the organization chart.
• Pay attention to tomorrow’s decision-maker.
Courtesy of Loews Hotels and Resorts
© 2011, Educational Institute 29
Corporate Meeting Decision-Makers • Full-time meeting planner
• Company president
• Marketing and sales executives
• Advertising and sales promotion managers
• Other corporate executives: corporate relations; public relations; industrial relations; communications
• Passenger traffic/corporate travel managers
• Procurement (purchasing) managers
• Training director
• Meeting specialists/third-party planners
© 2011, Educational Institute 32
Tools for Finding Corporate Meeting Planners
Special Meetings Publications• These publications offer advertisement space, sales-
lead services, and rental lists for direct mail• Successful Meetings• Meetings & Conventions• Meeting News
Business Publications• Reach some important prospects• Readership is much broader than target market(s)
(continued)
© 2011, Educational Institute 34
Tools for Finding Corporate Meeting Planners
Trade Directories and Publications• Research the industries of past clients• Dun & Bradstreet’s Million Dollar Directory• Standard and Poor’s Net Advantage• Meeting Professionals International
Membership Directory• Best Insurance Reports• Corporate Meeting and Event Planners
Directory
(continued)
(continued)
© 2011, Educational Institute 35
Tools for Finding Corporate Meeting Planners
Trade Associations• Their executive directors can give you important
leads
Internet Sites
Convention and Visitors BureausLateral Referral and Penetration
• Local suppliers could recommend the property• Large companies have many divisions to penetrate• Hotel employees may have leads for meetings
business
(continued)