For Return on Investment, Planners Turn to the Web.

Downsizing, down-swing, down tum. Feeling down in today's volatile economy? Then sit up, stand up, and perk up because the events and meetings industry's future couldn't be brighter. Really.

A major challenge for meeting planners is the need to demonstrate a Return On Investment (ROI) for a meeting, convention or special event ROI can be measured by the attendees' perceived value of the meeting, that product or service training has effectively been implemented or senior management's realization that key organizational objectives have been strategically met. However, in today's economy, ROI for meeting planners should be focused on the cost savings realized in the execution of their event.

Organizations spend an average of $225,000 annually per meeting and if meeting planners can show a significant return on their investments they will demonstrate fiscal responsibility and corporate value. While this unsteady economy continues to baffle even the most seasoned economists, skilled meeting planners can take stock in their new role as corporate financiers. Use of an industry tool called the ROI Calculator may provide the ammunition for the fiscal decision to use Web-based software solutions.

Jupiter & Forrester research companies have determined that by the end of 2001 approximately 100 million people will have used the Web to register for events and services. By 2004, its estimated that 325 million people will be pointing and clicking their way through online registration forms. The need for cost efficient and effective Web-based solutions is paramount in tire coming years.

Some major expenses in planning and implementing a meeting, convention or special event are the costs associated with labor, administrative time and marketing. With today's Web-based software solutions, help is but a click away for most meeting planners. But a few issues must be taken into consideration. Will the product meet the needs and objectives of the meeting? Would it make more sense to have the work conducted 'in-house" by the Information Technologies department? How do you justify to senior management the cost associated with the purchase or lease of these "time-saving" solutions?

For every reaction, there is an action. And in the case of a cost benefits analysis a simple ROI Calculator demonstration helps validate the Web-based solutions investment. Some obvious returns to the meeting planner is the convenience of the product, freedom from tech support within the organization and the ability of the planner to manage the meeting rather than the meeting managing the planner. But most importantly, it is the ability to demonstrate the financial savings to an organization's CFO and senior management.

According to State of the Industry 2001 report, total meeting spending has escalated to $122.1 billion annually. In order to cut the costs off this cash cow all a planner needs to do is simplify and streamline, but how? With the use of the aforementioned ROI Calculator developed by Even411, planners can provide concrete proof that they are culling annual meeting costs by 20 to 70 percent -- or more. The substantial cost-savings are delivered by the use of Event41l's PremierPlanner 3.0.

"The calculator can help organizations focus on meetings ROI to a much greater degree than at present," says Lawrence Howorth, Event411's chief financial officer and executive vice president of operations. "Most companies haven't quantified what they're spending on meetings," said Howorth. "They haven't aggregated the numbers before."

By using Web-based software solutions, meeting planners can deliver successful meetings easier, faster and more cost-effectively. The benefits are real:

* Simplify and streamline the entire event planning process from start to finish -- from registration and housing to e-marketing and printing final reports;;

* Cut corporate planning costs by using online efficiencies and show hard-dollar returns on investment (based on an ROI Calculator demonstration);

* Robust reporting that offers a tremendous array of standard and custom choices, allowing the planner to make important strategic decisions regarding the meeting.

The 2001 Meetings Outlook Survey estimates that the number of meetings across all industries will increase by 9 percent in the coming year. More meetings, means more opportunity, and to appear as a bright and shining savior within the corporation, meeting planners can begin to help overloaded CFOs get an edge on tomorrow's budgets.

Cameron Andrews is principal of Pier Communications, specializing in the hospitality, entertainment and tour and travel industries. He can be reached at Cameron @piercomm.com.