AdelmanSummit Meetings/Events & Incentives
Strategic Meeting Management: What to consider when planning your next event
Today, meetings, events and incentive travel represent a vast, complicated conglomerate of spend for many organizations.
Consider the following*
- The global events industry size was valued at $1,100 billion in 2018 and is expected to grow at a CAGR of 10.3% to reach $2,330 billion by 2026.
- Over 500,000 conferences, conventions and trade shows are hosted annually in the United States alone. More than 700,000 hotels and resorts are scattered around the globe. The total number of rooms for the various properties comes to 15.5 million.
How does an organization best navigate this extensive landscape of group hotels and resorts, air and ground providers while also considering details such as production, décor, entertainment, gifting and technology? Planners must also ensure that their organization is employing the most effective time and costs savings strategies and utilizing risk mitigation enterprise-wide.
AdelmanSummit, the dedicated meeting, event and incentive travel division of Adelman Travel Group, incorporates a “best-industry” platform of Strategic Meeting Management practices. These practices help to standardize meeting & events policies and procedures to ensure cost-effectiveness, quality assurance, risk mitigation and team consensus throughout the event management and delivery process.
Recommended solutions include:
- Centralized sourcing function
- Standardized contract language for suppliers
- Risk mitigation & duty of care
- Standardized operating procedures (SOP’s)
- Standardized technology platform
- Corporate responsibility & compliance
- Tracking performance metrics & savings
- Continuous improvement initiatives to evolve internal and external programs
- Merging corporate travel policy with a SMM program