© 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.


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


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)


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)


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


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)


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)


Professional/Technical and Management Meetings

Professional/Technical Meetings

• Often take seminar and workshop formats

• Lecture and demonstration by consultants, educators, and/or vendors

(continued)


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)


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)


Training and Stockholder/Public Meetings

Stockholder/Public Meetings

• Meetings for nonemployees

• Public relations and industrial relations hold exhibits and meetings

(continued)


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


Statistics on Group Incentive Trips


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)


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


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


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


Corporate Meetings—Repeat Business and Multibooking Potential

Repeat Business• Training meetings• Crisis meetings

(continued)


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


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


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


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)



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)



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)

© 2011, educational institute chapter 5 selling the corporate meetings market convention management...

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