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.
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.
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.