Cost cutting causes short-falls

Cost cutting causes short-falls
By admin


a

Email the Travel Weekly team at traveldesk@travelweekly.com.au

Cost cutting causes short-falls

Cost cutting causes short-falls
By admin


Modern conferences may succeed in cutting costs, but businesses are missing out on returns for their investment, The Idea Factory has claimed.

As economic instability continues to threaten some MICE businesses, cost cutting has become a common practice as businesses look to the bottom line.

But budgets have become more of an obsession among some meeting planners, according to The Idea Factory director, Ed Bernacki, who says cost cutting is causing them to lose sight of the benefits and returns of conferencing.

"Meeting planners often assume it’s about everything working on time, as planned and as budgeted, which is only one part of the ratio," he said. "The other element is the return, which is often overlooked."

The result, Bernacki said, was less attention to conference design, which caused under-productive attendees and wasted dollars.

Noting that around two-thirds of conference attendees admitted to taking notes and never looking at them again, Bernacki said poor conference design was the culprit.

"If people are not looking at their notes, it is highly unlikely they are acting on their ideas," he told The Nibbler. ""The industry seems to assume that the content side of conferences is best left to the clients, but clients don’t complain about a poorly conceived program. There is far too little expertise in this area."

Bernacki stressed that better use of technology and more face-to-face interaction would deliver more value to conferences. Delegates would also be able to see more gains in the boardroom from interactive workshops and creative brainstorming sessions, Bernacki added.

“Most people assume conferences are about learning, networking and motivation, [but] we need to expand our conference design to include collaboration," he said.

Email the Travel Weekly team at traveldesk@travelweekly.com.au

Latest News

  • Events

ETM scores gold at the NTIAs

Event Travel Management has struck gold. We're unsure if the company collectively shouted eureka after winning, however.

  • Destinations
  • Events

FCTG Independent launches first ever global conference with inaugural destination

FCTG’s Independent Division is launching their first ever global conference, bringing together independent travel agency owners and mobile advisors from across Australia, New Zealand, the USA, Canada and South Africa. Santiago, Chile, has been revealed as the destination for the first conference, which will take place from 1 – 4 May next year. The FCTG […]

  • Conferences
  • Destinations
  • Events
  • Exhibitions
  • Partner Content

The sunny spot to spice up your next conference

Where could this sunny spot be? If your guess was the Sunshine State then you're off to a good start.

Partner Content

by Travel Weekly

Travel Weekly
  • Destinations
  • Events

Darwin Showcase 2023 flaunts the NT

There's no better way to lure people to the NT than a showcase. Go see for yourself how it's 'different in every sense'.