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I want to devote this issue of Keeping it SiMMple to the discipline of measurement. I am referring specifically to the measurement of meeting savings, attendee satisfaction, and service levels satisfaction from your clients. What I will not be addressing is the measurement of Return on Investment (ROI) that was discussed in one of the March issues addressing the Evolution of Strategic Meetings Management.
Let's begin with measuring savings (some might refer to this as cost avoidance). There are typically 2 numbers used for the initial saving calculation: either the first quoted rate or the group average rate provided by the hotel for the time frame of your meeting. In either case the calculation goes forward with the following methodology:
- 50 rooms/night x 3 nights = 150 room nights
- The first quoted rate or group average rate is $245.
- You negotiate a rate of $195. The difference or delta equals a cost savings of $50 per room.
- Next, multiply the savings per room times the total room nights: $50 x 150 = $7500
- But wait, there's more! Likely you were successful in reducing the meeting room rental, say from $1500 a day down to $500 a day for three days which would equal a savings of $3000 in meeting room rental
- Did you negotiate for suite upgrades? Perhaps you negotiated to get 2 junior suites, normally selling for $450, at the group rate of $195. This results in a reduction of $255 for 6 room nights equaling an additional $1530 in savings.
- Finally, did you negotiate a 1 comp room per 50 rooms consumed on a cumulative basis? Assuming you pick up your full block, you would get 6 rooms for free, another $1170 you did not have to spend on your meeting
No doubt many of you reading this are thinking of a number of ways to demonstrate examples of cost reductions, both during the negotiation process and as a result of efficiently operating the meeting. But using the example above, we have achieved savings in the amount of $13,200. If you have just 10 meetings of this type in one year, you would have saved your organization $132,000, which is a pretty significant number! I suspect that you have far more than just 10 meetings. I find that in most organizations, there will be a few really large meetings, some medium sized meetings, and the majority of meetings are smaller than the example I have used. The point is that as you start to look at the portfolio of meetings within your organization, you will come to the conclusion that you will be attaining savings much, much higher than $132,000.
Be sure to consolidate all meeting savings into a report as you finalize the meeting close out process. The next step is very important: you need to collect the savings data for each individual meeting so that you can get a complete picture of your total program savings. You should be pleasantly surprised by how quickly the savings will add up!
Let's move on to measuring satisfaction. Not only should you measure attendee satisfaction, there is also a critical need to measure the satisfaction level of your clients with the service of your suppliers and of your team.
When measuring attendee satisfaction you should be focused on the meeting content, design and learner outcomes. Although it is nice to get feedback on the destination, hotel and food, the more important information is on the results that tie back to the objectives of the meeting. Attendee surveys are typically done either on-site at the meeting via paper or electronically; or immediately post meeting via electronic means such as Zoomerang, Survey Monkey, or within your attendee registration tool.
It is dangerous to assume your clients are pleased with the service providers you have selected and/or with your team members. Just because nothing is being said about service levels doesn't mean people are pleased. There are always opportunities to improve. By reaching out to ask for constructive feedback and implementing change you will find that service levels will continue to increase. In fact, I have found that those meeting managers who proactively conduct an objective satisfaction audit are viewed as a more strategic partner by the client side relationship owner. Client satisfaction surveys can be done face to face, through a 3rd party, or via electronic means.
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