The recession is now forcing businesses to scrutinise their expenditure and, as a result, the requirements for meetings in 2013 have changed.
That’s according to meetings expert Simon Thompson, writing for supplymanagement.com, who believes that as businesses have been handed the task of reducing spend while maintaining quality, firms need to make sure they are getting a return on their investment in meetings.
As a result, firms are booking meeting venues at the last possible moment in order to get a great deal, claims Thompson.
“This makes things particularly challenging for venue bookers, who are left with a very short lead time to ensure contracts are signed and reservations secured in time,” he said.
In addition, firms organising a meeting need to stay within budget if they are looking to curb their expenditure.
“The key to arranging any form of event on a budget is establishing basic needs, such as number of attendees, length of time, how much space is needed and if catering is required. After these essentials have been organised, everything else can be considered a bonus,” added Thompson.
Finally, demand for the type of event and venue is ‘evolving’ as firms turn their attention to memorable but value-for-money experiences, such as team-building events.
Social media may also play a big role during meetings as skift.com reports that meeting planners are looking to incorporate the channel as a ‘mainstream component’ of meetings.