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Last week, we discussed the initial steps involved in creating a Strategic Meeting Management Program (SMMP). As each company is unique, it would follow that each SMMP should be unique. However, there are some underlying steps that should be considered when creating and developing any comprehensive and successful SMMP. These steps include:

Meeting Leadership: Organize a leadership team that is responsible for setting standard polices and procedures and the oversight of all meetings. This team should have top-level management including a procurement member.

Meeting Approval Process: First define what a meeting is. Is it a gathering of ten or more people? Must outside resources be used? Is travel involved? Once you have defined the term “meeting”, be sure to communicate it to all departments/divisions. Mandate that all meetings must be registered and approved prior to any planning or allocation of funds. (more…)

I was surprised by the results of a recent survey. They showed that 95% of meeting planners said their organization does an adequate job of sharing information across departments revealing the total sum of meetings costs and identifying suppliers. But when asked if they must use, or even consider using, the suppliers with volume agreements, almost 50% of the planners said they had no such restrictions. (Meeting News Nov. 2007) This doesn’t make sense. It isn’t enough to wrap your arms around total meeting spend. Companies must leverage this knowledge and spend to significantly lower and/or avoid internal and external costs.

The best way to achieve this goal (and savings!) is to implement a Strategic Meetings Management Program (SMMP). (more…)

American Express Business Travel recently announced its forecast for pricing in 2008. This forecast could be bad news, especially for those who did not factor adequate increases into next year’s marketing budget. According to American Express, all costs associated with travel—air, hotel, and car rentals—will continue to increase, and in some areas substantially.

These increases will directly impact the bottom line of your meetings.

According to their findings… (more…)

As we are all aware, off-site meetings are expensive and can be very expensive if not done correctly. It’s critical that the first step of the meeting planning process be creating the right budget. Keep in mind that all costs are not hard costs. You must also factor in soft costs that can equally impact the success of your meeting. Here is a list of some key factors to consider when developing a comprehensive budget.

First, identify the specific goals and objectives of the meeting. Some companies hold meetings with the mentality that they have to. These are the most costly meetings, because if you don’t clearly define what you want to accomplish by investing in a meeting, you’ll probably accomplish nothing. Other companies assume that last year’s goals are identical to this year’s goals; this also can be costly, as successful companies are constantly reevaluating strategies, which means their goals and objectives should also be reevaluated. Therefore, begin the process by bringing together the key stakeholders to identify what they want or need to accomplish for the current meeting. Once you have clearly identified the goals and objectives, it will permit you to put together the right program. Don’t forget to review past historical data to gain insight into what has succeeded and failed in the past, if this is a repeat meeting. Survey past and future attendees, when possible. (more…)