Bangkok--12 Jun--Vero PR
Calculated investment in congress opportunities make even more bottom-line sense, as return on investment is targeted
The global meetings industry is facing strong challenges during the economic downturn, but now, more than ever, is the time to make carefully calculated investments in corporate meetings, incentive schemes, conferences and exhibitions.
Above-the-line and through-the-line advertising and promotion has been hardest hit by the world recession, as corporations big and small seek to rein in their expenditure and get maximum return for their marketing budgets.
The knee-jerk reaction by many has been to downscale meetings and other forms of corporate congress, yet this is possibly the most unwise and short-term reaction to a long-term challenge.
Long-haul air travel is one of the most seriously affected of all travel industry sectors, as companies and individuals seek to contain expenditure.
But this is the time to make the meetings industry work for your company. By being completely focused on the potential of exhibitions, conferences and others forms of congress, a corporation can best channel its marketing investment and gain not only measurable results but also cut costs in the long-term.
In times past business deals were done on a handshake, without the intrusion of lawyers, regulations, borders, etc.
But that basic premise, the handshake being the contract, is still alive today, and in times when many are doubting the wisdom of industry leaders and captains of the financial sector, that handshake and face time is more important than ever.
Thailand, which is at the leading edge of the meetings industry in the region and the world at large, has had several setbacks to confidence in recent months and years. That said, the country has made bold steps to guarantee the meetings industry, and tourism in general, can continue to prosper and offer some of the best value per marketing dollar available.
Risk is a huge factor in planning an event of any kind, and minimising that risk has to be at the forefront of every planner’s mind. There is not a country in the world that is immune to political risk, from the United States, to China to the tiniest archipelago, which means the meetings industry has to be ahead of the game in terms of mitigating risk.
There always has to be an alternative, a Plan B. The investment in the events across the globe that take place daily is immense, yet few organisers see the real threat of the best laid plans of MICE and men unravelling.
The meetings industry is about people, ideas and places, and putting them together. The only way to ensure success is that the best people share their best ideas in the best places. It is a simple equation, that leaves most people motivated, and excited about progress.
In times of economic crisis such as these, investment in the meetings industry is a compelling process for corporations, governments and even the man in the street.
The meetings industry, by its very nature, is a 360 degree influencer in any society with values stretching far beyond the regular tourist. The thousands of jobs created, the services utilized, the positive image inspired and the overall generation of goodwill cannot be underestimated.
Just look at the jobs factor. From the airline staff, the people who maintain the planes, to the airport employees to the limo drivers, the taxi men and women, the hotel staff, the restaurant waiters, the convention centre personnel, the grounds keepers who prune the topiary, the traffic policeman on crowd duty, even the folks who build the build the exhibition stands there is a compelling argument indeed to invest in the meetings industry and make it work for your government or corporation or not for profit association.
The meetings industry cannot exist in isolation, which is why public-private endeavours make absolute business sense. The Thailand Exhibition and Conventions Bureau (TECB), the International Congress and Convention
Association (ICCA) and others are ideal examples of the meetings industry working with credible and influential partners.
The convergence of commercial expertise and regulatory influence is key to the success of the meetings industry. By working with TECB, ICCA and others it is possible for the meetings industry to not only sustain a profitable living for its participants but also to contribute immeasurably to the economies of the countries it embraces.
Back to the concept of the handshake. If you calculate the cost of a single page of print advertising in a major regional or international publication and equate that cost to the price of exhibition space or the travel expenses of delegates to a congress, there is not contest. There are few industries where success is so measurable as the meetings industry. Nowadays, several recognized matrix can define the ROI and KPI of any meeting or exhibition.
Business to business (B2B) communication is the foundation of the meetings industry, because by bringing like-minded and sector-specific experts and operatives together you have made the strongest links possible. The meetings industry provides a platform for this.
Much has been said about the cost of travel, the waste of time and the questionable effectiveness of the global meetings industry. Many companies have cut back on spend in this sector, unwisely, and yet the momentum continues.
Fewer delegates, exhibitors and presenters might be on the bill, but the fact is the meetings industry is still thriving in these chastened fiscal times.
Every country with a meetings industry capability is aggressively bidding to host events, and it is the concerted and united effort of the meetings industries in the respective countries that is holding the day.
Thailand, which boasts some of the most competitive meetings industry venues, attractions and infrastructure, has reached out to the global community more than ever before. Recent setbacks have not stopped numerous headline events being scheduled for Bangkok, Phuket, Pattaya and elsewhere.
One of the most daunting challenges for a city, country or venue is the bidding process for meetings and other major events. The requirements are myriad and detail is exhaustive, but it is possible to gain advice from professional congress organisers (PCOs) to help structure a winning bid.
While these recessionary times mean cost up front is high on the agenda, the overall return on investment should not be overlooked. PCOs are best-positioned to assess the opportunities, factor in risk management procedures and also ensure flawless execution of arrangements.
Don’t go it alone.
Marcel Ewals is managing director of AsiaCongress and Director of Kenes MP Asia, some of Asia-Pacific’s leading meetings industry companies.
Marcel Ewals has 20 years of experience in the Meetings Industry and has been in Asia since 1992. He is a graduate in Hotel Management from a Swiss hotel school and started his career working for Relais & Chateax luxury hotels. He is currently involved in several companies under the PICO Group related to event management. He is Director of the World Events Organization- a corporate group within PICO, Managing Director of AsiaCongress in Bangkok, and Director in Kenes Asia, a Medical PCO venture with leading organizers Kenes International. He is also involved in concert management and promoting in SE Asia through the Entertainment Asia division. Marcel is a true entrepreneur who enjoys starting new ventures in the MICE industry, loves assisting troubled events in re-strategizing and marketing and driving technology applications. He regularly lectures in event management in various universities and is active in several industry associations.
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