US Corporate Market Update International Congress and Convention Association US Corporate Market Update Carol Krugman, CMP, CMM Krugman Group International, Inc. St. Petersburg, Florida, USA 44th ICCA Congress & Exhibition, Monday 7 November 2005 iccaworld.com

CIC Economic Impact Study (September 2005) Corporate meetings/events US$ 40.3 billion (33%)

Presentation Overview Corporate customer profile Perceptions and misconceptions of Latin America as a meetings destination What do corporate planners want? What are their priorities? How can you win more of their business?

Corporate Planner Salaried employee May or may not have title of “meeting planner” May or may not spend 100% of time planning meetings May or may not outsource to independent planners

Procurement Manager Salaried employee Usually in finance department Minimal/no experience or exposure to meetings Objective – save $$ Consolidation Meetings are a commodity

Independent Planner PCO equivalent Self-employed individual or owners of own company Client base includes corporate, association, other independents Plan meetings 100% of the time

Third Party “Planners” Research hotel space/rate availability Present options/recommendations Negotiate contract Receive commission on space/rates No further involvement in program

Who Is Your Client?

Perceptions of Latin America

General Perceptions Homogeneous Exotic Dangerous Disorganized “Mañana” OK for vacation or maybe incentive, not for serious work or meetings

How Do I Get More Business? Know who your client is Know who the decision maker is

How Do I Get More Business? Address concerns honestly Inform and educate first– be a resource Sell the destination before the product if necessary Professionalism A-Z

Specific Concerns of Planners Distance Infrastructure Level of service/communication Safety Availability/sophistication of technology

Getting More Business Understand what the corporate client wants/needs (vs. what you want/need)

Their World Time constraints Budget constraints Overloaded – Understaffed Pressured by superiors Perceived or actual job insecurity

Their Needs Fast (“I need it yesterday”) Focused Accurate Professional Flexible Cost effective

You have only one opportunity to make a first impression

Give Them What They Want! Listen/read carefully Understand request Acknowledge receipt Respond when you say you will Ask questions Communicate clearly

Add To Your “Value Proposition” English– operations as well as sales Intl association membership Continuing professional education Investment in technology Flexibility – global business pace Consistent promise:delivery ratio

Los Dos Corazones de Carol Os Dois Corações de Carol Norteamericano Latino

Sensibilidad Admiracíón Conocimiento Respeto Amistades Trabajo Estudios

Thank you! 44th ICCA Congress & Exhibition, Monday 7 November 2005 International Congress and Convention Association Thank you! 44th ICCA Congress & Exhibition, Monday 7 November 2005 iccaworld.com