In any industry, it is important to periodically take time to network with industry colleagues, share insights and ideas and gain new perspectives to keep your business moving forward. In October 2018, Kinetic organized an experience for our customers to accomplish these very goals by way of a Study Tour in the United Kingdom, connecting conference and events professionals from the United States with three UK universities.
Based on our own research, repeat business bookings for summer conferences typically range between 70-80% from year to year. With many conference departments operating as self-sustaining, that figure represents a significant amount of annual revenue on which the department is dependent. Therefore, it is paramount to monitor rebooking activity year on year.
We all know that conference operations play a large role in both helping to fund the academic programme of a university and, importantly, introducing potential new students to the institution. We also know that they are all looking at ways to increase revenue. Raising rates and offering new services are the most common means of increasing the bottom line, but perhaps not the most effective.
Increasing Conferencing Revenue
Most conference operations are looking for ways to increase their revenue. Offering new services, or raising rates tend to be the most common means of growing the bottom line. However, there is one activity everyone should be doing that can positively affect revenue streams: inquiry tracking. There are a surprising number of conference operations who do not track incoming inquiries or sales leads.
The clock is ticking and May 25th is now less than a month away…are you GDPR ready? If you read my blog post last year about GDPR, then you should already be familiar with this new legislation. But have you prepared? The two-year grace period is almost over, and with steep penalties for compliance, if you haven’t prepared yet, you still have time.
As one conference season winds down, it is time to look toward the next one. For many, contracting your repeat customers happens right away.
Before you sign everyone on to next year’s camps and conferences with your existing contracts, take a step back and have a look at them. You may want to consider making some changes to incorporate contracting best practices that may be missing.
Last month, I wrote about three of the biggest impacts a conference department can have on its campus. I firmly believe in those three ideas, but how do you prove it? It is one thing to detail what the impact is, but it also needs to be demonstrated for others to buy in to the concepts.
As many conference professionals head into the ‘busy season’ of summer, this is a good time to remind you of just how much impact you have on your university and your community.
In the day to day chaos of summer conference season, it is easy to forget the big picture when the focus is on the little details. Below are my top three choices detailing the powerful influence of conference services that go beyond the revenue you generate for the university.
This month, we welcome Laura Lafferty as our guest blogger.
While working in conference services, she used an academic scheduling system to manage her conferences and events. After all, she was just scheduling events; it's the same thing.
Read on as you take a coffee break to learn more about her experience in how effective the system was for her needs.
Managing conferences and events is no small feat. There are many moving pieces for any conference and we all learn as we go along. Now imagine what you would learn about your team and events in general from an event on steroids... like a Presidential Debate.
Such was the case at the University of Nevada Las Vegas.
The Student Union and Event Services at UNLV hosted an event to top most events. While some of their experiences may not be repeated again, the lessons learned can be carried on to help serve other groups.
We are excited to share their thoughts about about what they learned from hosting a Presidential Debate on campus.
Thank you to the UNLV Photo Services for the photos of the UNLV campus.