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2015, boom or bust…or neither?

2015

“If you could do something in 2015 that you knew added positively to the bottom line why would you think twice?”

I am certain that you would get most budget owners attention with the question above? I know I would want to hear more, I also know I would have some immediate questions. Most importantly, how would I know…?

”Training, educational events and sales meetings will be the most common types of gatherings in the coming year” MPI Meetings Outlook 2014 fall edition

As the economic recovery, particularly in the UK, continues the majority of recent survey respondents indicate budgets for 2015 will increase and they will run more events next year. Why? Because in good times you spend more and do more, and in lean times the first thing you look to cut is your events… right?

“We cannot afford to train our people while we are struggling to make profit”. “Right now increasing our people’s knowledge is not a business priority, increasing revenue is”. “I want my sales people out selling, not sat in a classroom”.

But, what if you knew the positive impact training had on profitability? What if you knew that increased knowledge would enable jobs to be done more effectively, so increasing efficiency? What if you knew that upskilling your sales team would lead to increased revenues?

Logic would then suggest that, through good times and bad, events would always take place because you understood the business impact and knew the bottom line contribution.

We believe that the boom and bust approach to events exists because not enough people understand the value they bring to business. In fact I would suggest that when good times are approaching this is the right time to review the events you are running, even more so than when margins are being squeezed. If the budget holders within your business understand the value your events program brings then your biggest fear may be that you are asked to do more!

Notice I managed not to mention the often quoted three letter acronym! That is deliberate, as too many race to what they think the end result should be without understanding all the steps in the process, so those three words become the be all and end all.

So, could we hope for a New Year Resolution adopted by many to really understand the value of the events you run as a business so others will know…?

Contact us for a house visit and get our completely impartial view on how your program of events is performing for you.

Email: enquiries@conferencedoctor.co.uk

www.conferencedoctor.co.uk

Author The Conference Doctor               Published 23 December 2014

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