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RE-engageThe Value of Face-to-Face

We bring a voice to the issues that affect our industry. It is time to spread the word about the importance of face-to-face events. It is time to re-engage.

Value of Face to-Face

Whether the audience consists of Travel professionals, Corporate C-Suite executives, or Meeting & event planners, this presentation is designed to educate and implement the strategic and business model value of face-to-face meetings.

As businesses mark the one-year anniversary of the current economic crisis, decision-makers are now asking themselves whether it is finally time to shift from cost management mode to growth mode. After all, decisions made now will determine the upside in 2010 and beyond.

Value of Face to-Face

But where to invest?

New research supplies a surprising answer: business travel.How do you attach ROI to a sales trip, corporate meeting or to award to a high-performing employee? In the past, no one really knew how to do it. Travel budgets existed in a sort of black box where decisions were guided by emotions and gut-instinct, rather than solid data. The lack of good research in this area has given rise to several myths: that business travel is wasteful or frivolous; that it can easily be replaced by virtual meetings and teleconferences; and that the use of incentive trips to reward top performers is too extravagant.Its no wonder that it recently has been a favorite target for corporate and government cost-cutters.

Value of Face to-Face

$1.00 invested$12.50 revenue$3.80 new profit

A groundbreaking new study by the respected research firm Oxford Economics may finally put these myths to rest, and allow business leaders to make smarter decisions about where to allocate precious resources. In fact, it is the first time the question of business travel ROI has been researched so comprehensively. According to this study, travel is a core component of a successful business strategy and business model. The study finds that for every $1 dollar invested in business travel, businesses realize $12.50 in incremental revenue and $3.80 in new profits. For budget planners and policymakers, this analysis provides a benchmark defining how business travel in America is inextricably linked to profits and growth.

Value of Face to-Face

KeepingCustomersConvertingProspectsHumanCapitalBuilding Relationships

Four vital business implications for growth that rely on face-to-face engagement are:keeping customersconverting prospectsbuilding relationshipsand investing in human capital Corporate executives who were surveyed estimated that they would lose 28% of their current clients without in-person meetings, and they see a 40% conversion success of prospects-to-customers with in-person meetings.

Value of Face to-Face

While claims that virtual meetings and teleconferences are a good substitute for in-person meetings, they turn out to be off the mark. 85% of corporate executives perceive web meetings and teleconferences to be less effective than in-person meetings with prospective customers, and 63% believe virtual meetings to be less effective than in-person meetings with current customers. It now has been proven, that when companies reduce their travel budgets, there are quantifiable negative consequences in terms of lost revenue and profit growth and in terms of giving competitors a distinct advantage.

Value of Face to-Face

HumanCapitalEmployeeMoraleConnectCustomersManage Investments

To reinvent your organization and lay the groundwork for future growth, it is vital that you:Protect your valuable assets, including human capital. In fact, internal meetings ranked the highest benefit for employee morale and performance Engage in the outside world by staying connected with customers. Mange your investments for value

Value of Face to-Face

ROI 1:15CustomerMeetings

ROI 1:4ConferencesTrade ShowsIncentives

Compare other investment returns to the ROI on travel spend with a proven ROI of 1:15 on customer meetings and 1:4 for conferences, tradeshows and incentives.

Value of Face to-Face

As the old saying goes, you have to spend money to make money. And in the case of business travel, this axiom has never been truer. Now is the time to join hands as an industry and advocate the value of face-to-face.

THANK YOU

by:Roger RickardREvent, LLCwww.reventllc.com

Join me on this united effort to help ourselves, our businesses, our industry, and most importantly the state of our economy. Learn more at reventllc.com