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Trumping TARP

Christine DuffyCEOCEO

Maritz Travel

Meetings Media

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Today’s Sponsors

Today’s Speaker

Christine Duffy

Transforming Meetings, Events, and Incentives in a Post-AIG World Managing Perceptions Creating Val e andAIG World: Managing Perceptions, Creating Value, and Measuring Impact

Christine Duffy, President and CEOA il 29 2009April 29, 2009 Meetings Media Webinar

PROPRIETARY AND CONFIDENTIAL, MARITZ COPYRIGHT 2009 8

The “Perfect Storm” for the IndustryThe Perfect Storm for the Industry

Media Feeding “Goldman Sachs Moves Event to New York from

Miami”

“AIG-Effect Tones Down Lavish Business Events”

gFrenzy

“Wells Fargo Cancels Las Vegas Trip”g p

Politicians F i th “You can’t go take a trip to “Let's get this straight: TheseFanning the

FlamesYou can t go take a trip to Las Vegas, or go down to

the Super Bowl on the taxpayers’ dime,”

- President Barack Obama

Let s get this straight: These guys are going to Vegas to roll the dice on the taxpayer dime.

They're tone deaf. It's outrageous."

Rep Shelley Moore Capito


-Rep. Shelley Moore Capito (R-WV)

Government Intervention & ReactionGovernment Intervention & Reaction

New Government Regulation

Stimulus package: any company who took or will receive government assistance will be subject to new Treasury regulations on “luxury” travel.

Business

56% of corporate planners canceled one or more meetings

48% of corporate planners will reduce the number of meeting BusinessImpact attendees

56% of managers at Fortune 1000 companies are postponing or eliminating at least a portion of their incentive programs in 2009


Needed: Focused, Strategic CampaignNeeded: Focused, Strategic Campaign

GoalMake it safe for businesses to

“get back in the water”

Policymakers: change political calculationMedia: broaden and provide context to the storyStrategyBusinesses: tools to resist pressure

gy

Value to BusinessBusiness travel and events

Value to Communities

Change the Victim

The American worker is theMessages are a smart and cost-effective way to retain and develop employee talent, generate ideas and share

knowledge that drives future

Business events and meetings are the lifeblood of

many local communities.

The American worker is the unintended victim of the

demonization of business meetings and incentive travel

programs.


knowledge that drives future business growth.

How Companies RespondedHow Companies Responded • Short-term responses to the criticism have been swift, with several

companies canceling all meetings, events and incentives

• Nearly half of respondents (48%) also feel there are non-financial risks associated with running ME&I programs in the current economic climate.

D5. Do you, or does your organization feel there are risks -- beyond financial --

associated with running meetings, events, and/or incentive trips in this economic

Negative stakeholder perception

Stakeholder perception of value

and/or incentive trips in this economic climate? (n=89)

No37%

Don't know15%

perception of value

Bad press/PR

Market pressuresYes.

Examples are:

48%

Maritz Marketplace Poll January, 2009

*A k d f l f h h d d h h i b d i h d d h h i b d d i D2

Low attendance48%


*Asked of only of those who responded that their budgets either decreased or they expect their budgets to decrease in D2 and/or D3.

Managing PerceptionsManaging Perceptions

What are the negative images

• Spending frivolously while laying people off

that we need to combat?

• Spending frivolously while laying people off

• Serving only the privileged

• Another example of excess compensation

Insensitive to environmental impact• Insensitive to environmental impact


Managing Perceptions: What are the take-aways?Managing Perceptions: What are the take aways?

H i th d ’t t k t f t• Hoping the press doesn’t take note of your event is not a strategy

• Experiment with meaningfully different meetings that address the shift in cultural values

• Make “the common good” a centerpiece of meetings of “the privileged few”meetings of the privileged few


Managing Perceptions: Redefining what “ l”“special” means

N t j t ‘l ’• Not just ‘luxury’ anymore• Meeting “special” people• Privileged access• An emotionally impactful experience• Team happenings• Including my familyg y y


And now for the good news…What You hl l dDo Is Highly Valued!

• Nearly all (99%) respondents of a recent Maritz market study feel their organizations value the benefits of their ME&I programs; nearly two-thirds feel their ME&I programs are highly valued.

D9. Overall, how much does your organization value the benefits/effectiveness of meetings, events, and/or incentive

travel?* (n=93)

Valued

Don't know1%

somewhat36%

Highly valued63%


While politically expedient, it creates enormous d i k f h i idownstream risk for the organization

• Eliminating meetings and events severely impacts revenue growth

• Eliminating incentive travel programs lowers sales force productivity, decreases high-

f i l l d iperforming employee morale and increases attritionEli i ti t t h th• Eliminating customer events hampers the organization’s ability to compete and differentiate its products or servicesdifferentiate its products or services


Societal Shifts may have Greatest Impact in h lthe long term….

L being edefined What is sociall• Luxury being redefined; What is socially acceptable?

• How does Corporate Social Responsibility• How does Corporate Social Responsibility manifest itself inside of Meeting and Incentive programs?

• The Gaming Generation joins the workforce• The Baby Boomers may never retire


Voice of Participant becomes critical in design, d li & idelivery & impact…

Alt ti h f t• Alternative approaches for engagement• Need for inclusion of choice• Content on Demand• Integration of Live and Virtualg

“Focus on customization of individualFocus on customization of individual experience for success”


Impact: Creating a “total solution” for resultsImpact: Creating a total solution for results

Impact

The real goal we are trying

to achieve

All the things that

Enabling ProgramsAll the things that

must be true for us to drive results

(things that drive performance)

How we get

(things that drive performance)

Execution Capabilities(the things we’re good at doing)

How we get events done


Impact: What are the take-aways?Impact: What are the take aways?

E ll d i d ti h th i t t d• Every well designed meeting has three integrated phases:

before the meeting– before the meeting– the meeting– after the meetingafter the meeting

• Manage the end-to-end process, not just the event

• A total solution for meeting impact requires a coalition of the committed


A Model for Success

Value Spending & Participant

A Model for Success

CreationSavings Engagement

TRANSPARENCY ACROSS THE ORGANIZATION

Measure, report and improve

Meeting goals connected to business goals

Strategic sourcing generates significant savings, clearly documented by program

Actively engage participants, planners and meeting owners to co-create the experiencebusiness goals

Measurement to determine ROO and ROI before, during and after operation

documented by program Identifies and manages

contract risk Assures compliance with

your reputational risk

co-create the experience Participants more

clearly drive venue, agenda, content and activitiesand after operation

Determine how individual behaviors and attitudes contribute to

your reputational risk guidelines for program design and sourcing

activities Added layer of protection

around decisions


organizational success

Lastly, a Guide for ‘Responsible’ Meetings and

M it h k d i lt ti ith th f ll i t d l

Events…

• Maritz has worked in consultation with the following groups to develop a ‘model board policy’ for any company receiving government funds.

– The American Hotel and Lodging Association– Destination Marketing Association International,– International Association of Exhibitions and Events– Meeting Professionals InternationalMeeting Professionals International– National Business Travel Association– Professional Convention Management Association

S i t f I ti T l E ti– Society of Incentive Travel Executives– The U.S. Travel Association


Key Components of the ‘Model Board Policy’

E h d ti t i ti / iti t l

Key Components of the Model Board Policy

• Each proposed meeting, event or incentive/recognition travel with a cost exceeding $75,000 must be supported by a written business case identifying a specific business purpose.

• Total annual expenses for meetings, events and incentive/recognition travel shall not exceed 15 percent of the company’s total sales and marketing spend.company s total sales and marketing spend.

• The amount spent for an employee performance incentive/recognition event shall not exceed two (2) percent of th t t l ti f li ibl ti i t 10 t fthe total compensation of eligible participants or 10 percent of total award earners’ compensation.

• At least 90 percent of incentive program attendees shall be p p gother than senior executives (as defined by applicable Treasury Department guidelines) from the host organization.


Key Components of the ‘Model Board Policy’

• Performance incentives shall not promote excessive or i k ki i l i f fi i l l

Key Components of the Model Board Policy

unnecessary risk taking or manipulation of financial results.• All internal meetings or events attended only by senior

executives (as defined by applicable Treasury Department e ecut es (as de ed by app cab e easu y epa t e tguidelines) and/or board members shall be devoted to specific business purposes, and participating senior executives shall be responsible for any expenses incurred for non-business relatedresponsible for any expenses incurred for non business related activities.

• The CEO of the company shall certify to the board at least ll th t th f i li i b i f ll d dannually that the foregoing policies are being followed, and are

sufficient to provide reasonable assurance that the company’s expenditures for such purposes are not excessive.

• The process for approving meetings, events and incentive/recognition travel, and the procedures for assuring adherence to this policy will be subject to independent audit to


adherence to this policy, will be subject to independent audit to confirm policy adherence.

Our Response Must Be Aggressive & OngoingOur Response Must Be Aggressive & Ongoing

We Must Actively Shape Oury S p OOperating Environment

orOthers Will Shape it For Us


Q&A

Please use the “Ask a Question” button to submit your questions now.

TAKE10

Introducing: TAKE10Since we can’t get to all of the questions submitted by webinar participants, we’ve posted 10 that weren’t p p , panswered during the program. Thanks to our presenter for volunteering to field all of your important queries from “W bi L d!”“Webinar Land!”

Check your inbox soon for an invitation and link to the TAKE10 Q&A Web page.

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Citywide Solutions: Leverage Your M i M tiMassive Meeting

Join Meetings Media and Margie Johnson to learnhow to leverage your massive piece of potential

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CMP Credit Instructions

Thank you for joining us for “Trumping TARP”

This webinar is worth 1 points toward the initial CMP application and 1This webinar is worth .1 points toward the initial CMP application and 1

point toward recertification through the CIC.

To receive CEU credits for this webinar:

Download the webinar handouts from the drop-down menu on the left

hand side of your screen.

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