Trends and Developments in the Meetings and Events Industry...Crowdsourcing Data monetization. 4...
Transcript of Trends and Developments in the Meetings and Events Industry...Crowdsourcing Data monetization. 4...
Trends and Developments in the Meetings and Events Industry
March 17, 2016
BABTA
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Trends and Developments in the Meetings and Events Industry
Moderator – Kevin Iwamoto, GLP & GTPVice President of Industry StrategyLanyon Solutions
Dawn Witherspoon
Account ExecutiveITA Group, Inc.
Gary MurakamiDirector, Global SalesMGM Resorts International
Kathy Burdge
Sr. Manager, Global TravelLevi Strauss & Company
Technology Is Radically Changing Our Industry & Lives
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CostPrice transparencyBuyer aggregation
Rebates and rewards
ExperienceChoice
PersonalizationAny device, any time
PlatformMarketplaces
CrowdsourcingData monetization
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$649Bn
$378Bn
$351Bn
$280Bn
$250Bn
$153Bn
$141Bn
$46Bn
$33Bn
$24Bn
$197Bn
$79Bn
$62Bn
$53Bn
$49Bn
$47Bn
$44Bn
$36Bn
$3Bn
$2Bn
VS.
Market Cap Market Cap
Most Valuable Companies – 20 Years Ago vs. Today
Trends in Meetings & Events is Centered on Technology Enablement
• Mobile engagement – surveys, agendas, schedules, session management, social media, etc.
• Technology integrations – CRM, HRM, ERM, etc.
• Communities – on-going engagement post meeting/event
• RFID – iBeacons- QR codes
• SMMP Maturity – Measuring engagement via metrics
• Consolidation & convergence: transient + meeting volumes = improved supplier negotiations
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2015 GBTA Study: Trends in Meetings, Events, and Travel Consolidation: Drivers and Barriers
� Consolidated program composition:� Travel (96%) � Meetings (94%)� Events (43%)
� Consolidated program structure:� Global companies� Globally-managed travel program
� Notable:� More prevalent in North America� More prevalent management technology use
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Pay Attention to These Industry Trends!
• Disruptive technology models & the impact on professional relevance – Sharing Economy models
• Continued supplier advantaged marketplace impacts negotiations• Changing supplier – buyer relationship dynamics• Continued industry consolidation – game changing impacts to
every part of our industry • Multi-generational impacts to current programs, policies,
communication• Accepting more work responsibilities – job scope change
management• Higher demand for ROI, ROE, ROO by senior management using
technology driven data
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Discussion