Written by: Vickie Sullivan | September 24, 2024
2 Ways Corporate Travel Cuts Impact Event Speakers
Industry events are important for professional speakers and thought leaders to amplify their perspectives and reach people who may want their services. However, a recent study from SAP Concur found that tighter budgets and corporate travel restrictions prevent professionals from taking business trips. (Many thanks to Deborah Gardner for sharing the study with me.)
“Sixty-seven percent of global business travelers feel business travel is critical for career advancement. Yet 66 percent feel they haven’t had an equal opportunity to take business trips compared to their colleagues,” according to the report.
In addition, 42 percent said company directives to cut corporate travel costs make it harder to get travel approved.
How Corporate Travel Cuts Impact Event Speakers
Based on the findings in the report, here’s the ripple effect I see coming because of corporate travel policy changes:
• Industry associations will struggle to attract attendees. Corporations are imposing policies such as forcing employees to take cheaper flights with multiple connections and to use public transportation instead of rideshares. Those policies make travel more of a hassle and cause employees to rethink their plans. Combine that with overall budget cuts, and competition for event registration has become just short of hand-to-hand combat. Speakers who can drive attendance to events will be the front runners.
• Attendees will be people higher up on the org chart. Travel perks are going to the more senior personnel, which is good news for accessing decision-makers at industry events. Less senior folks will get their education and networking online. Big question: Will the C-suite execs take the bus from the airport to the hotel? Doubtful.
These changes look inconsequential on the surface. The ripple effect they produce, though, can be huge. Be prepared to promise more to these already-squeezed associations.
Listen: Why Speaker Fees Are the First to Be Cut
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