Greg Oates
We lead off every year with our value-themed issue focusing on great group programs and venues that provide excellent return on investment and experience. Value is a funny thing, though. It’s a priority for everyone these days on both sides of the buyer/supplier equation, but in different ways. The client wants to minimize expenses and maximize return. Meanwhile, the supplier is selling their amenities or services based on the value they provide. Except both are defining “value” somewhat differently: cost versus the experience.
Adding another layer to the conversation, Business Events Sydney unveiled a new study last year called: Beyond Tourism Benefits—Measuring the Social Legacies of Business Events. The research examines the long term value of meetings and events as they relate to professional development, business generation and the value of collaboration. “Long term value” is the key phrase there, versus measuring immediate returns. The concept seems to be back in vogue these days after what happened when the big banks went into business for themselves a few years ago.
“If we don’t measure the multiple long term benefits, such as the ability to increase professional knowledge, improve career opportunities, disseminate the latest technical practices and forge international networking, research and business collaborations,” says Lyn Lewis-Smith, CEO of BESydney, “we are undervaluing our industry.”
Lewis-Smith is also chair of the new Future Convention Cities Initiative (FCCI). It’s a very slick group of modern cities who are pooling their research based on Sydney’s model. The group includes: Sydney, Seoul, Durban, Abu Dhabi, London, Toronto and San Francisco. Upon first glance, you’ll notice right away the things these destinations share: multiculturalism, strong high-tech and creative industries, smart design and a focus on sustainability. The official term for that is: The Future.
Getting your group aligned with these and similar forward-thinking destinations, and experiencing what they can teach us as creative professionals, has unlimited value. We’ve been saying that for years.
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