gampi mec meetings industry trends
DESCRIPTION
Many American consumers have internalized the recession experience. Traditional assumptions underpinning consumer, meeting attendee and event professional segmentation are no longer valid. Discover how meeting professionals are adjusting their event planning strategies to the "New Normal" and what you can do to attract emerging post-recession consumer, attendee and event professional segments.TRANSCRIPT
3
4
New Normal
Decitica Research
20% of population
6 in 10 women
Fewer Gen X & Gen Y
20% of population
6 in 10 women
Fewer Gen X & Gen Y
Already considered
tightwads
Most difficult to
market to
29% of population
6 in 10 women
Primarily Gen X
Forced frugality
Challenging group
to attract
29% of population
6 in 10 women
Primarily Gen X
29% of population
6 in 10 men
Over represented by people in 60s
29% of population
6 in 10 men
Over represented by people in 60s
1/3 HHI > $75K
Best group to
market to
22% of population
Slightly more women
than men
Gen Y
Indifferent
Attractive target for
youth market
22% of population
Slightly more women
than men
Gen Y
What Does This Mean To You?
• Steadfast Frugalists
• Involuntary Penny Pinchers
• Pragmatic Spenders
• Apathetic Materialists
10 New NormalsThe impact of the new normal on meeting
and event professionals
• Price Integrity
• Rate Transparency
• Less Brand loyalty
• Online footprint
• Social mediainteractions
• B There B4 the Sale
• Geo-location
Process to monitor, engage & manage conversations &relationships with existing & prospective customers & influencers across the Internet, social networks & digital channels. ~ Mark Walsh
Incentive Research Foundation Pulse Survey Report, 8/2010
• New Competitive Set
• Packages
• RFP Overload
• Grids
• Selling brass & glass
• More small biz
34
Over Incentive TravelIncentive Research Foundation Pulse Survey Report, 8/2010
SMM
decisions about
19. Successful Shows
49
• Technology infrastructure
• Systems of record vs. systems of engagement
• Helping your customers reach their customers beyond four walls of venue
Conduit For
Mature: 6-10 yrs
To Plan For
Novice workers Mature (5-10 yrs) Experienced >10 yrs
Directed Self-Directed Helping Others
Class Discovery Coaching
Course Searching (Google) Mentoring
Source: Jay Cross’ Working Smarter57
Formal & Informal
Novice workers Mature (5-10 yrs) Experienced >10 yrs
Directed Self-Directed Helping Others
Class Discovery Coaching
Course Searching (Google) Mentoring
Lecture Trial-and-error Storytelling
Test/Exam Collaborating Giving Feedback
1 Right Answer Asking Nurturing
Source: Jay Cross’ Working Smarter58
Formal & Informal
Novice workers Mature (5-10 yrs) Experienced >10 yrs
Directed Self-Directed Helping Others
Class Discovery Coaching
Course Searching (Google) Mentoring
Lecture Trial-and-error Storytelling
Test/Exam Collaborating Giving Feedback
1 Right Answer Asking Nurturing
Curriculum Skimming Modeling
Listening Observing Reflecting
Instructions Conversing Connecting
Source: Jay Cross’ Working Smarter59
Formal & Informal
61
62
Threat or Opportunity
74
• Steadfast Frugalists
• Involuntary Penny Pinchers
• Pragmatic Spenders
• Apathetic Materialists
76
To expect a normal recovery cycle, whether it is corporate profits or lending or consumer spending or capital investment, or pick the category—increased meeting attendance, or association growth, or…
is just notreasonable.
~ Don Reynolds, Economist 21st Century Forecasting
Planning Meetings & Events…
Not A Piece Of Cake
79
Adult Ed & Meetings
80
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