A Strategic Meetings Management Program (SMMP) has been touted as a cost savings measure, to help companies minimize costs on meetings, and having a standardized process that meets compliance across verticals. There are multiple complexities when it comes to meetings because they are decentralized amongst many departments. An SMMP can help with bringing transparency on meeting spends, and keep everything organized.
Everyone talks about how you can decrease costs through effective meeting management. But there really is more to it.
An SMMP can help you get more out of every dollar that you can spend on it. Sounds familiar? Yes, we are talking about the holy grail of metrics measurement – RoI.
We’ve always been staunch advocates of measuring RoI of meetings at events. We’ve spoken about it extensively on our blogs here. An SMMP program for meetings at events, will have a huge impact on your bottom-line. Meetings at events don’t exactly come for cheap, so it’s more crucial that we show what returns on every dollar we spend. Meetings happen to be the vehicle on which spends on events can be justified.
An SMMP for your events is going to be simpler than one for the entire company, but it still needs to be a subset of an overall plan for the company. This way, you get an effective program for your meetings, which is aligned with your company’s goals.
If you’d like to know more about how much RoI you can show at your next event, you definitely need to check our RoI calculator here:
This is how an SMMP for events can help your company:
With an SMMP tailored for meetings, you’ll be able to have a centralized pool of information about all your meetings that take place. The most important information would include:
- The internal and external attendees
- The spend on the meeting rooms at the event
- A brief about the meeting agenda
- Size of deal discussed in the meeting
There are more parameters, but these are crucial data points that will help you make educated decisions about your meetings plan, and how you can optimize it.
Now that you have all the data, it’s time to make sense of it. You would need a reporting tool, that helps you organize the data and gives you insights about your meetings, that you can use to further increase your success rates.
A carefully considered and designed workflow, that’s been tailored to meet targets of higher RoI, will do a lot more for you than a meetings plan optimized for costs savings. Since the objective of meetings are to further your business interests, you’d much rather improve your chances of closing deals, rather than being hampered by a low-budget.
Jifflenow can help you manage all kinds of meetings at your next event. You’ll want to talk to our product specialist to see how we can help you: