Meeting Trends: Using Mobile Technologies to Boost the Bottom Line

If you have a smartphone, you’re probably familiar with mobile apps that save you time, simplify mundane tasks, or just entertain you with movies or games. We rely on our phones for much more than just talking or texting.

In the last year, mobile apps have also emerged as an innovative method of both generating revenue and reducing costs for meetings and conventions. In fact, a leading meeting industry publication has dubbed 2011 the Year of the Mobile App. Savvy organizations are realizing that mobile apps return a great deal of value for a relatively small investment.

The question we often hear from our clients is, How can we maximize our investment in meeting technology? Mobile apps are extremely attractive to conference sponsors, who realize that conference delegates spend countless hours on their smartphones – both during conference sessions, as well as in their free time.

Technology sponsorships offer much richer delegate engagement than traditional sponsorship opportunities. A mobile app used throughout the conference draws hundreds of page views, while single-use items like food & beverage or disposable giveaways are quickly forgotten.

Sponsors are willing to invest $10K - $25K or more to get their logo and message in the place that attendees are already looking. A single sponsorship pays for the app several times over – bringing in additional revenue well beyond the initial investment. Additional sponsorships and ads can also be sold to produce even more profit. Small investment, big return!

Getting the Most for your Conference Dollars

In these economic times, organizations of all types are looking for ways to slash expenses across the board. The Annual Conference, with all its associated costs and contracts, is often scrutinized. Savvy managers know that all businesses are feeling the squeeze, which means that short-term contracts can be renegotiated to provide lower rates and greater incentives.

But it is also an excellent time to negotiate favorable long-term agreements, particularly site contracts for future years. Bargains abound in both first- and second-tier meeting locations across the world. as well as resort and luxury properties When considering future meeting locations, however, facility fees and incentives aren’t the only consideration. Organizations will reap the greatest savings by selecting a location where overall costs are lower.

Earlier this week, Forbes magazine released its annual list of the Top 10 Bargain Cities in the U.S. – places where you can pay the least for the most. The financial gurus at Forbes developed their list by analyzing a city’s overall cost of living, pay scale, labor and housing statistics, and unemployment rate.

Austin, Texas tops the list as the best bargain city; followed by Phoenix, Arizona and Washington, DC. All of these cities are meetings-friendly and excellent destinations, as well as providing lots of bang for your buck. The magazine also publishes an annual list of Most Overpriced Cities, a resource managers might want to consult when booking future years.

These indices are not the final word on the matter, but a useful barometer for gauging overall meeting costs in a destination. Final site decisions must of course be based on the best overall fit, but financial considerations are king in a sluggish economy.