Brought to you by Bondurant Consulting:
 
Keeping it SiMMPle logo

                                                                                                           

                                                                                                       Volume 11, July 7, 2011
In this issue:
K is for Knowledge: Knowledge = Power

Greetings!

Welcome to Keeping it SiMMPle, a bi-monthly newsletter aimed at making and keeping your Strategic Meetings Management Program Practical, Light, and Effective. For Meeting Managers and Procurement Specialists, this newsletter will assist you in finding practical solutions and provide advice on actionable steps to gain visibility and control of your organization's meeting spend.  For Suppliers, you will gain insights into the issues that your clients face, and how you can support their SMM programs. In addition, Keeping it SiMMPle will highlight key industry trends and identify tips that will make your job easier.

Each issue of Keeping it SiMMPle addresses a component of the A to Z of SMM from a Practical, Light & Effective perspective. In this issue K is for Knowledge, and Knowledge = Power!.  


It seems in the world of SMM that we tend to focus more on what we don't know rather than on what we do know.  I believe it is important to be aware of our knowledge gaps, but at the same time, we know more that what we give ourselves credit for. If you are managing a meetings department, you know a lot about:

  • The capacity and strengths of your staff
  • Meetings metrics: volume, costs, savings, attendees, Return on Investment (ROI)
  • Cancelled contracts that can be re-used by other groups in your company
  • Which hotels/hotel chains get the most utilization
  • Who holds the meeting budgets
  • Which business units spend the most/least on meetings
  • Client preferences
  • Power planners in the organization
  • The current  top 10 meeting destinations
  • Good and bad supplier partners

If you are a supplier, such as a global sales manager for a hotel company or a third party meeting planner you know:

  • Details about your top clients (Almost as much about your client's company as they know)
  • If an organization has a meeting policy you need to adhere to
  • If there is any 3rd party sourcing company and/or technology in use by your clients
  • Who your competition is
  • Who the ultimate decision maker is
  • When a strategic meetings management program is going to be rolled out by one of your clients

These bullet points are a small example of the wealth of know ledge that you have. So what do you do with all of this knowledge? Share it, communicate it, make business intelligence out of it, and drive enlightened business decisions with it!  Provide dashboards, analysis, and strategic recommendations to stakeholders in your organization. This is how you convert knowledge to power, and how you remain visible and viable within your organization.

 

What about things we don't know? For example, if you are on the corporate side, how do your clients feel about the meeting planning suppliers you have asked them to use?  Are your clients really happy to use the suppliers you have in your meetings program, or do they feel as if they are being forced to use certain suppliers?  What type of customer service do they provide? Are communications clear and updates frequent? Are the meeting attendees happy?  How do you find out the answer to these questions?  It's not too complex, you simply need to ask!

 

Be thoughtful about how you ask.  You don't want to ask questions that will lead people to a particular answer. You want to ask well balanced questions that will provide you the very specific data and insights that you are looking for.  You may want to use an online tool such as zoomerang or survey monkey, or if you are currently using a meeting technology tool, there may be a survey component that you can employ. I have also seen companies go to an independent 3rd party to conduct live, unbiased interviews which result in comprehensive, in depth data.  The benefit of a live conversation is that the person conducting the interviews can quickly identify areas of concern and is able to drill down into a particular issue real time.

 

Once you open the door to feedback, follow through with a recap of the results.  Be sure to follow up with those who participated in the survey.  Thank them for their time, and let them know what changes are being made based on their feedback and recommendations.

SiMMPle Tips:

Tip #1:  If you feel there are gaps in your knowledge, seek awareness and enlightenment from industry associates, company peers, leaders in your organization, and suppliers

 

Tip #2: Keep up with industry trends so that you can benchmark your knowledge

 

Tip #3:  Don't be afraid to share your knowledge frequently and with a broad audience

 
Did you know... 

 

Bondurant Consulting offers Strategic Partnership Audits and On-boarding Support for new suppliers

 

Betsy is the volunteer chair for the Meeting Professionals International (MPI)2011-2012  Knowledge Advisory Council http://www.mpiweb.org/Libraries/Press/Release_IBODannc_070111.pdf

 

There is a great article on Strategic Meetings management in the June issue of MPI's ONE+ magazine?  http://www.nxtbook.com/nxtbooks/mpi/oneplus_201106/#/68  

 

Warm regards,
 

 

 

Sincerely,
Betsy Bondurant, CMM, CTE
 BC logo small
Contact Information:
betsy@bondurantconsulting.com
phone: 619.701.7709

 

About Bondurant Consulting
View my profile on LinkedInFollow us on Twitter

Bondurant Consulting provides the following services:  

  • Assessment of SMMP potential for your organization   
  • Development and implementation of SMMP for meeting & travel managers.
  • Training programs for hotel companies and 3rd party meeting planning agencies which increase their understanding of Strategic Meetings Management, resulting in more successful engagements with clients who are involved with SMMP.
  • Support for the RFP response process
Join Our Mailing List