convene’s 21st annual meetings market survey
Association and independent meeting professionals reported that, on average, 49 percent of the revenue from their largest 2011 event came from registration, while 26 percent came from exhibit sales, and 20 percent came from sponsorships and grants. The sources of revenue are similar to last year, although the percentage of sponsorships and grants grew by two points in 2011 compared 2010.
ADVERTISING SALES SPONSORSHIP/GRANTS EXHIBIT SALES REGISTRATION
OTHER % OF REVENUE Expositions 2 0 10 20 30 40 50 49 26 20 4
Meetings Hold Steady
A large majority of respondents—87 percent compared to 81 percent in last year’s survey— did not cut back on the number of days of any multi-day meeting in 2011, compared to 2010. Thirteen percent cut the meeting by one day, compared to 18 percent who shaved their meetings in 2010 by one day.
For 2012, 90 percent (compared to 88 percent in last year’s survey) do not have plans to cut back on the number of days of any multi-day meeting, compared to 2011. Only nine percent expect to cut the meeting by one day, and one percent by more than one day.
Less than one in five respondents (19 percent) canceled one or more meetings in 2011. In last year’s survey, 28 percent of respondents said they had canceled one or more meetings in 2010. Seventy-one percent did not cancel any meetings in 2011 and 91 percent did not cancel any meetings planned for 2012.
Making the Decision
Using a scale of “1” for “most important” to “6” for “least important,” 87 percent of respondents rate site visits either “1” or “2” when it comes to deciding where to book their meetings. Sixty-three percent rated one-on- one sales interactions next in importance; followed by online searches (40 percent); fam trips (20 percent); and marketing collateral from venues (14 percent). Forty- six percent said other factors—chief among them, recommendations from colleagues— were important in the decision-making process.
pcmaconvene March 2012