Goyang Mice Forum 2019 - EventBank · 2019-08-26 · Poster presentation Satellite symposia Today...
Transcript of Goyang Mice Forum 2019 - EventBank · 2019-08-26 · Poster presentation Satellite symposia Today...
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Goyang Mice Forum 2019
Conferences today and
tomorrow
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2
Who are you?
1. Mountain or Ocean?
2. Early Morning or Late Night?
3. Last Minute or Well in advance?
4. New York or Hawaii?
5. Lead or follow?
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1. The Evolution of a Service Company
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2. Digitalization of the industry
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3. New audiences with different needs
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4. TED like Speaker Experiences
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5. Sponsor Restrictions and Budgets
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6. Changing Association Models
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Where does the PCO fit in
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Before
Plenary sessionConcurrent sessionPoster presentationSatellite symposia
Today
Plenary session PatientsConcurrent session Joint sessionsSatellite symposia Open spacePoster presentation Working GroupsMeet-the-expert Focus sessionsBreakfast session Meet the TrialistHands on HubsState-of-the-art Open spaceLive sessions User groupsRead-with-the-expertTask Force meetings …
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ENGAGING DELEGATES FOR INTERACTIVE EXPERIENCE
We live in a society where we’re encouraged to interact rather than passively sit back and watch.
Raconteur Media Ltd. May 2013
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OUR TOOLS
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OUR TOOLS
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OUR AUDIENCE
Our culture is influenced by two major factors
Greater cultural background
Personal background andidentity
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Take a minute to reflect what defines you
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Impact on meetings
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OUR RECIPE
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ONE SIZE FITS …
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ta
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Feria
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Foto aparezca stand
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Show - Gala
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Lanzamiento
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THE HOW
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meeting support
Science > WOW effect
objectives
stakeholdersmeasurement
Event lifecycle
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JUST A FEW EXAMPLES
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C2 Melbourne
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SXSW
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EULAR - Rheumatology
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#BLOGHER17
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IMEX FRANKFURT
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CAMPUS PARTY
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OUR RECIPE
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InformativeMotivationalInfluentialDiscussion
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Tailored Learning
Basic Intermediate Advanced
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Hybrid Meetings
A ‘live’ in-person
event with a ‘virtual’ online
component.
Apps
e-Posters
Webinare-Library
Streaming
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The Snowball Effect
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CONFERENCE 2
Pre-Conference TeasersHot Topic Webinar
Highlights WebinarHot Topic WebinarAdd to Virtual Library
Social Media StrategyInformation Campaign
Membership Management
CONFERENCE 1Pre-Conference Teasers
Highlights WebinarLaunch Virtual Library
Social Media StrategyInformation Campaign
CONFERENCE 3
Pre-Conference TeasersHot Topic Series
Highlights WebinarHot Topic SeriesAdd to Virtual Library
Social Media StrategyInformation Campaign
Membership Management
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52 Professional Training Companies
Event Design Organisations
Books and Authors
Webinars | articles | blogs
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Stakeholder needs
Improve Outcomes
Data Relevance
Why
Audience Topic
Value Purpose
What
Time People
Technical resources
Financial resources
How
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But …
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1. It won’t fix what can’t be fixed2. Engaging audiences is painful 3. Ideas are easy, implementation is hard4. Event design is not (just) about sofas5. … neither (all) about technology 6. Complexity as the new normal
(multicultural, multi generational, o2o etc… )
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• What are the biggest take aways in terms of meeting
design
• Which design trends have you seen implemented?
• What is the customer expectation in terms of Meeting
Design?
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Part 2
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Key Considerations
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Income•
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Expenditure•
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Organising Information
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Budget•
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Income - Tips•
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Fixed Costs - Tips
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Variable Costs - Tips
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Cashflow - Tips
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Using Information
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What will be the impact on profit from changing registration fees?
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
765 800 900 1000 1100 1200Attendance
Status Quo
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What will be the reduction in profit as the number of member registrations or earlybirds is higher than expected?
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
50% 55% 60% 65% 70%
Registration revenue for 1000 pax
Non-Member orStandard
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Financial Management Service
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Let’s think…
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Theory…
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–
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Theory
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Theory…
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Theory…
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Your “E” determines your offering…
Strategic Consulting
Intangible Added Value Services
Commodity Services
Commodity Services
Intangible Added Value Services
Strategic Consulting
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Businss Models for PCOs > Fee models
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Most common management fee models
Fixed
management
fee
Fixed
management
fee + a variable
fee based on
performance/
results
% of the total
income of the
congress
% of total
surplus
(profit) of the
congress
% of total
expenditure
of the congress
per
hour/person
per
service area
Often it is also a combination of more than one of these
pricing structures
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Quantify your value
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Your competitive advantage must deliver quantitative and/or qualitative benefits to your association client
Quantitative benefits:
Revenue/margin improvements
Cost reductions
Risk reduction
Qualitative benefits:
Ease of doing business
Increasing connections
Focus on primary and core tasks
Relationship building
Success of the organization Growth
Development
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What associations are looking for:
Relationship
: Trust
Partnership
Sharing strategic goals
Finance
:
Sharing financial risk
No additional services charges
Model including profit/risk sharing
Fiscal advice (VAT management
and processes)
Pre-financing congress activities,
interest free Gain competitive advantage
One point of contact
Dedicated team
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Your price is your most important profit driver – it needs attention
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The VALUE mantra
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Thank YOU!
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Exercise
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Part 3: How Do Clients Make
Decisions?
Mathias Posch
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5 Questions to Ask
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Question 1: Who is the Client?
•
PCO Owner
Sponsorship Sales
CVB
Venue
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So the client is…
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Is It Either/Or?
Happy Delegate
Happy Sponsors
Happy ClientSuccessful conference
Happy PCO
Happy Suppliers
Successful Destination
Better Service Offers
Happy Delegate
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Question 2: How Does A Client Define Success?
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How do we get them there?
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Question 3: Who in the Group Makes the Decision?
PC
O, E
xecu
tive
Off
ice Professional
(3 Fs)
Facts and figures
Finances (bottom line)
Future (strategy of the association, congress)
Gen
eral
Ass
em
bly
, Mem
ber
ship Emotional
(3 As)
Attractiveness of destination
Access
Affordability
Exec
uti
ve C
ou
nci
l, B
oar
d Professional & Emotional
(3 Ps)
Professional evaluation
Personal Preferences
People involved in the bid
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Case Study
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Question 4: Based on all this –what do we get evaluated on?
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What Clients Ask For in RFPs:
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What They Really Want to Know•
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services and costs clearly described
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…but most of all, they really want to assess:
…whether they can trust us.
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Smart questions to ask…
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Question 5: How Do I Stand Out?
Client Needs
CompetitionUs
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Immediate Questions or Feedback?
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How does Korea stand out?
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Specific client concerns
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My delegates will have trouble getting around with English only
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The Greater Seoul area is so busy that my delegates will have
difficulty getting around on time
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The Korean culture is difficult for Westerners to adjust to
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The hierarchies and ways of doing business are cumbersome
and difficult to navigate
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What other concerns are you facing?
111
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Summary of the day
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