Meeting Professionals International (MPI) introduces today (29 November) at EIBTM in Barcelona its Business Value of Meetings (BVOM) toolbox.
The toolbox is a collection of resources created from research findings unveiled at Reed Travel Exhibitions’ sister trade show AIBTM in Baltimore in June 2011. Those findings indicated meeting professionals are challenged with five primary barriers to successfully proving the business value of meetings and events.
The initial White Papers are developed with a focus on solutions and examples for readers, and will address the primary barriers to successfully implementing BVOM practices into event portfolios.
Those barriers include:
1. Low perception of ROI (return on investment)
2. Difficulty in getting stakeholder buy-in
3. Defining meeting objectives and expectations
4. Devising meaningful ways to measure value
5. Analysing and reporting BVOM data
The papers lay the foundation for more tools being developed to measure the business value of their meetings and events.
To address the perception of low ROI, MPI will add tools in December built from the first White Paper that include instructional videos, a glossary of terms, two additional case studies and handout on benefits of change as well as a presentation featuring A Tale of Two Meetings.
In January 2012, specific to getting stakeholder buy-in, MPI will introduce tutorials on identifying objectives and key business owners, a ‘Question Bank’ and an ‘Idea Bank’ to help even the novice planner jump start initiatives in their business.
“By identifying these key barriers, the research revealed a manageable path for MPI to lead event professionals down, one that will lay a strong foundation for the development of a more value-focused event portfolio,” said Didier Scaillet, MPI and MPI Foundation Chief Development Officer.
“Each of the tools and resources we are creating will build on this foundation, and empower people to approach their business in a smarter way that enables them to be more successful.”
Tools under development include:
? Instructional videos and podcasts,
? Articles detailing solutions and examples of success,
? Case studies and corresponding webinars to delve into best practice ideas,
? How-to guides, tutorials and workbooks that professionals can use on a specific job.
The BVOM initiative will be explored further at MPI’s European Meetings and Events Conference EMEC 29-31 January 2012 in Budapest, Hungary.
MPI has 21,000 members belonging to 71 chapters and clubs worldwide.
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