Written by: Vickie Sullivan | September 25, 2014
What’s The Deal With Meeting Budgets?
Because many of us speak as part of our thought leadership, it’s important to know what’s going on financially. This summer report from Meeting Professionals International is not pretty.
The good news: virtual meetings are the rage, so there are plenty of opportunities to get our brilliance out there. And more meetings are focused on content, paving the way for those with relevant messages.
The bad news: getting paid will still be a challenge. Here’s why — organizations are budgeting for fewer people than are expected. Example from the report: the budget is for 20 attendees, but everyone knows 40 people are showing up. Talk about stupid.
To make matters worse, hard costs such as hotels are going up. The budget isn’t keeping pace with those increases either. Result: scrambling to do more with less is still alive and well. Popular strategies include finding more sponsors to foot the bill and yes, opting for low-cost alternatives.
So if you thought the recovery would end the tough negotiations, think again. Word on the street indicates many speakers saying, “I’ll speak for whatever you give me.” Be prepared to justify your fee.
For more cool stats, click here for MPI’s Summer Meetings Outlook.
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