What’s the Big Idea?

The Energy of Many
By Bruce MacMillan, CA

I still have nightmares about my Economics 301 class and the Swedish econometric genius who failed me. It was 1979, and the world was grappling with a 13 percent annual inflation rate and you could get a mortgage for the bargain rate of 15.25 percent. Guess I always thought they failed the wrong guy. But I’m over it now…really.

Once again the world is apparently teetering, at least according to econometric gurus, on the edge of financial nuclear winter. But this time for me it’s not just happening on TV or in the newspaper, it’s happening in daily life. And the only tests that matter are the ones we manage in our jobs every day—no textbook or lecture has all the answers.

So imagine the sheer terror I felt when the CNBC producers of the Donny Deutsch “Big Idea” show called. Kate Strickland, a member from our North Florida chapter, called for CNBC’s counsel on how to survive and thrive in the current mess. They, in turn, called me and connected us on the show. There go those human connections again.

First Step: Comfort and Reassurance. Each time, following an economic downturn, the meeting and events industry has come back more robust than ever. Consider the following.

  • The MPI Foundation/George P. Johnson EventView study reveals that chief marketing officers view meetings and events as having the highest ROI of any marketing channel. In an increasingly competitive economy, the ability to create and deliver strategically focused events is a competitive advantage.
  • The economic turmoil has accelerated the global flow of capital as well as fostered increased collaboration between governments and global financial institutions at unprecedented levels. The need for organizations to connect across cultures and geography has never been higher.
  • Generational demographics and new emerging economies are creating a substantial whole new cohort of meeting and event attendees. Global investment in new venues is enormous, yet forecasts still call for a looming talent shortage of meeting and event professionals.

 

Next Step: Big Ideas

  1. Secure your core business. Connect with those most crucial to your success. Your MPI chapter is a great starting point.
  2. Consider project work. In slowdowns, organizations outsource more opportunities. Plug into some of the flourishing third-party organizations.
  3. Differentiate yourself. CMOs look at meetings and events as formidable business weapons. Combine Web 2.0 technology with your direct access to attendees to develop profiles and exclusive communication channels to clients that CMOs value as gold.
  4. Elevate yourself. Get your CMP or CMM. Take a communications course. Meetings are increasingly about message delivery and learning.
  5. Volunteer on local fundraising events. Do a great job and get connected to the local glitterati, who might just hire you for real dough.

 

Donny did not give me a whole lotta time on the show, and I’m sure there are more tried-and-true ideas that others have lived through. But it’s a simple start.

If you really want to share challenges and consider more big ideas that work in a very different economy, connect with your community and beyond at MeetDifferent this February in Atlanta. Kate will be there. So will the big ideas.