A large majority (67%) of planners responding to FutureWatch 2005, an annual report by Meeting Professionals International (MPI) and American Express, indicate they always or frequently measure ROI, with post-event attendee surveys the measurement tool of choice followed by meeting budget and revenue reports, and client feedback. But 68 percent of suppliers indicated planners seldom or never ask for help in measuring ROI, signaling a need for partnering to measure and articulate tangible meeting results, according to MPI.
While 71 percent of planners and suppliers equally express the desire to work as partners, the report concludes there is room for improvement in the business relationship. Suppliers indicate a need for more honest disclosure of budgets (67%), more lead time/flexibility (56%), more comprehensive communication (49%) and more detailed RFPs (45%) from planners. Planners indicate they want more flexibility (85%), faster response to requests/inquiries (58%) and more detailed, transparent quotes (42%) from suppliers.
Additional key findings
- Cited as a major issue in 2003 and 2004, attrition concerns dropped a significant 14 percent among planners and 7 percent for suppliers.
- Eighty-five percent of suppliers plan to invest in Web site enhancements; 67 percent in wireless technologies. As opposed to previous years, suppliers will not increase investments in other technology categories, such as guest room and audio/visual.
- Planners expect to use the Internet 21 percent more to research and 4 percent more to book venues in 2005. This is a slight increase in Web research and a slight decline in booking over 2004