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.
In our last post, we looked at what should be happening before you attend your next trade show. Now, let’s look at what you should focus on during and after the show.
It’s that time of year. Time to gear up for trade shows. Some of the best time to showcase who you are and what you can offer.
Let's face it. Many times, those of us in conference services find ourselves fighting for any number of items: additional staff, software, access to buildings, the right to exist on campus.
There is a way to make your case in an effective way, but what are some tools you can use to justify your purchases?
A software purchase is a big decision. And when it comes to finding one to handle all the pieces of event management, it can become even more complicated.
Looking beyond the priorities and features specific to the system, here are 11 questions to consider when making a new software purchase.
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.
Imagine you have been tasked with planning a conference for an organization for which you volunteer.
The committee looks at you and naturally, with your conference management experience, want you to handle arranging all the logistics. First, you have to find a venue. You start making phone calls to various venues to find out if they have availability.
Kinetic Software and Sodexo’s Campus Conferencing entered into a preferred vendor agreement last week, making Kinetic Software the exclusive software provider for Sodexo’s Campus Conferencing.