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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
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CIC Economic Impact Study (September 2005)
Corporate meetings/events US$ 40.3 billion (33%)
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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?
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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
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Procurement Manager Salaried employee Usually in finance department
Minimal/no experience or exposure to meetings Objective – save $$ Consolidation Meetings are a commodity
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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
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Third Party “Planners”
Research hotel space/rate availability Present options/recommendations Negotiate contract Receive commission on space/rates No further involvement in program
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Who Is Your Client?
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Perceptions of Latin America
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General Perceptions Homogeneous Exotic Dangerous Disorganized “Mañana”
OK for vacation or maybe incentive, not for serious work or meetings
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How Do I Get More Business?
Know who your client is Know who the decision maker is
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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
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Specific Concerns of Planners
Distance Infrastructure Level of service/communication Safety Availability/sophistication of technology
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Getting More Business Understand what the corporate client wants/needs
(vs. what you want/need)
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Their World Time constraints Budget constraints
Overloaded – Understaffed Pressured by superiors Perceived or actual job insecurity
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Their Needs Fast (“I need it yesterday”) Focused Accurate Professional
Flexible Cost effective
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You have only one opportunity
to make a first impression
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Give Them What They Want!
Listen/read carefully Understand request Acknowledge receipt Respond when you say you will Ask questions Communicate clearly
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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
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Los Dos Corazones de Carol Os Dois Corações de Carol
Norteamericano Latino
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Sensibilidad Admiracíón Conocimiento Respeto Amistades Trabajo Estudios
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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
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