Three Reasons You Should Pay Attention to Building Your Small Meetings Business (and One Perfect Tool to Use When You Do)
You may already be aware that in-person events are making a comeback. In fact, according to M&IW’s most recent reports, approximately 70% of meetings currently planned are in-person events. What you may not know, however, is this: small and simple meetings (“small meetings”) represent nearly two-thirds of this total. And, considering these numbers only account for small meetings planned by a third-party meeting management firm, the national total is bound to be higher when adding in the larger book of business planned by DIYers within organizations.
Given these stats, we think it’s at least worth consideration to pay attention to the impact that small meetings have on your overall business. Here are the top three reasons why occasional planners may be open, now more than ever, to the help of a professional.
Three Reasons Occasional Planners May Need Help Now
1. It’s a Supplier’s Market
Contracting and subsequent risk favors the supplier. Occasional planners (DIYers) are especially vulnerable to contracting pitfalls when they are tasked with negotiating and signing venue and supplier agreements they don’t entirely understand. They need easy-to-use tools and support resources who know the domain to help them navigate successfully.
2. Labor Premiums
The result of the labor shortage? Higher wages and less staff to get things done. More DIYers are engaged in event planning activities and have a wider variety of tasks to carry out as their organizations may be short-staffed. Automation that enhances productivity and is designed specifically for this non-professional user type is key.
3. More Pressure to Succeed
Small meetings make up the lion’s share of an organization’s event portfolio, yet most occur without professional oversight. Inflationary pressures mean even small meetings come with a higher price tag. A larger investment means there’s more at stake with every transaction. Professional oversight and procurement guardrails are key in alleviating this pressure.
Introducing an Integrated Solution: Simplified+
While these challenges seem to pave the way for more beneficial partnerships, there are still a few barriers associated with creating a strong return on investment for small meetings, such as time and expense, lack of true integration of technologies resulting in a cobbled together/non-streamlined process, and no meeting planner support for DIY planners.
M&IW’s Intent Strategy Group recognized both the rewards and challenges of the small meeting and worked to develop a truly integrated small meetings solution backed by technology that results in a compelling ROI story.
Simplified+ is an integrated solution for small meetings that delivers a well-designed process to serve events of all sizes and types, resulting in heightened visibility, cost savings, risk mitigation, and efficiency gains.
In partnership with Bizly, ISG worked to create this innovative, technology-enabled solution specifically to alleviate the challenges of small meetings and take advantage of the potential gains by empowering DIY planners. Thus, Simplified+ weaves in existing event management and business intelligence systems to complete an end-to-end DIY solution. By leveraging the innovation of current technologies and scaling it for all sizes and types of events, Simplified+ makes a compelling case for the adoption of a new small meetings, technology-enabled solution.
Interested in learning more about how to leverage the power of large-scale technology in a small-scale meeting? Contact Us