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.
Find out more about the financial integrations with Kx systems in our free ebook.
The finance department is a huge part of every university (and every business for that matter). Rarely do they just report numbers but often are a key stakeholder in any decision-making process. However, we know that the finance team can often get bogged down with the time-consuming admin work which impacts their ability to really add value to the business and help drive overall growth.
To find out more about the software integrations with Kx sytems download our free ebook.
Universities are constantly facing decisions over whether to invest into new technologies. On average, companies use 7 to 10 applications for various business purposes. The usual path would be buying several cheaper licences from various software companies as it seems like you are spending less of that precious budget. And there is nothing wrong with this strategy, short term. However, long term, your company will get to the point where you have various pieces of software that are not even necessarily talking to each other.
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.
Okay, yes we are a software company. It is our job to convince you to buy our products.
Now that we got that out of the way, we can focus on the fact that we still hear bad software advice. And we have heard some big ones. As you brew your cup of coffee, let's take a look at what made the top of our list.