06 Aug 09 Fourth Quarter Play Strategies–Conferences

Even though the recession brought the bailouts, which in turn brought scrutiny into meetings and conferences, emerging from the economic downturn does not guarantee that the meeting business will spring back. However, the hardships don’t not guarantee that it will stay in the toilet, either.

Fourth Quarter Cautions

Conference and business meeting planners may see a slight uptick in business with no real surge simply because companies are concerned about their images. There are articles all over–including blog posts here–about the idea of image and spending. The flip side of that is this: meetings are important to education, motivation, and technology sharing. You can be prepared for reluctant spending by having lots of alternatives to lavish accommodations, high-tech meeting environments, and expensive dinners with high-priced keynote speakers.

What Might Happen Instead

As the last quarter of the year approaches, we may see the newsworthy companies busting their behinds to pay off their bailout loans. On July 22nd, Goldman Sachs announced that it bought back its warrants. This means that one of the bailout companies is no longer obligated to adhere to the strict rules the government placed on them regarding meetings.

Even though bailout companies may stick to the guidelines even after they pay back the country, we may see them be a little more willing to provide important conferences and meetings to their employees as well as the more incentive travel to their high producers. Planners should be ready for this as well by maintaining good relationships with property owners and vendors even when they are not providing them with much business.

Tags: Bailout, Behinds, Business Meeting, Economic Downturn, Education Motivation, Flip Side, Fourth Quarter, Goldman Sachs, Hardships, Incentive Travel, Keynote Speakers, Last Quarter, Lavish Accommodations, Meeting Planners, Property Owners, Recession, Scrutiny, Strict Rules, Uptick, Warrants