The WOW Factory has begun hosting a series of webcasts focused on demystifying some of the newest and most visible (if not best understood) ways to deliver value to meetings and events. Seems we are not alone – although the focus these days seems to be more on cutting costs than delivering value. Not surprising since the meeting industry is undergoing a sea change along with the rest of our economy. This economy has shaken the status quo and assumptions that particular meetings are necessary and put others under the microscope. Planners – and the organizations for which they work – have been forced to scrutinize the strategic value of each event and each dollar spent; it comes down to “survival of the most effective.”

For example, one of WOW’s clients that chose not to have a meeting at all in 2009 is now planning to revive it next year. Another is readdressing all of its meetings and might eliminate some while keeping others.

A recession can be a real opportunity for growth and increases in efficiency. According to a new study, the economy is driving meeting planners to take a more strategic role in their business, demonstrating their organizational value by positioning why their meetings are critical. PCMA, American Express and Ypartnership fielded the U.S. Meeting Planner Intentions Survey during April and May 2009.

The study surveyed 516 professional meeting planners working for corporations or associations. It found that the economy is the main factor driving changes observed in meeting planning, booking and rebooking. Corporate meeting planners were more likely than association planners to indicate they expected a decrease in meetings due to meeting budgets being cut because of general economic conditions or image/publicity/public‐policy considerations.

Other findings include:

• 44 percent expect to plan fewer events in 2009/2010 than in 2008
• 47 percent expect to plan the same number of events
• Planners intend to make greater use of alternative meeting methods, including Webinars (54 percent), teleconferencing (48 percent) and videoconferencing (30 percent)
• 52 percent of meetings booked were for 100 attendees or less
• 12 percent of respondents planned off-site meetings for more than 1,000 attendees

Increased scrutiny of meetings paired with economic constraints has led planners to carefully consider not only whether or not to have a meeting, but also whether a face-to-face meeting is the best method for an event. The takeaway here is that the industry isn’t collapsing, it’s getting stronger and smarter… more effective.