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Blog
The Inadvertent Wall Street Wake-Up Call
Posted on 20 March, 2013 at 6:29 |
In the days since reading Holly Finn’s cynical
and scathing assessment of the meetings and conventions industry in The Wall Street Journal,
my mood has changed from outrage to anger to frustration to hunger (it was
dinner time) to concern and then to excitement and exhilaration. Ms. Finn
basically tore apart our industry, painting us as a bunch of Good Time Charlies
who like to spend lavishly, party endlessly, and think, learn and network less
than occasionally. But it was a wake-up call to action and to opportunity, for
which I am grateful. Let me explain. What Ms. Finn’s misinformed diatribe reminded me was that we are most
effective only at talking among ourselves. Years ago, I used to attend
regularly the Travel Industry Unity Dinner, an annual black-tie Pat on the Back
to remind us how important we are. And we are important, even by today’s
standards: the meetings industry generates 1.7 million U.S. jobs, $263 billion in direct spending,
and makes a $106 billion contribution to the GDP, according to landmark research
conducted two years ago by
PricewaterhouseCoopers LLP. Yet we are not so effective communicating our message to Ms.
Finn’s world – the one outside the meetings industry, including the author
herself. So disadvantaged are we that The Wall Street Journal wouldn’t even
acknowledge or publish the intelligent and eloquent response to Ms. Finn
crafted by Convention Industry Council CEO Karen Kotowski. Probably would have spoiled their
fun -- facts tend to have that
effect. Regardless, the CIC’s actions speak louder than any words – they are
the overseers of the Certified Meeting Professional (CMP) program, helping to
send 14,000 highly qualified “ambassadors” into the field elevating the status
of our profession, serving as liaisons with executives, and ensuring outcomes
and ROI for stakeholders. Roger Rickard and Roger Dow are two major league advocates
who come to mind for pounding the DC pavement and industry circuit tirelessly declaring
meetings as an industry onto itself and as essential business and marketing tools when
developed and implemented properly. To the meetings delegates in Ms. Finn’s
“party-now” universe, if you or your approving managers can’t
validate the relevance, expense and potential return of going to a meeting, do
us a favor and don’t go. Similarly, if organizations can’t validate the
relevance, expense and potential return of holding a conference in the first
place, then for goodness sake don’t hold it! Ms. Finn’s article is an unscheduled but important wake-up
call reminding us that we need to work harder to get people to understand the
value of what we do. I, for one, plan to support the efforts of our industry
leaders by keeping the conversation going on social media and joining “extended”
industry groups both live and online (marketing executives, C-suite,
procurement managers) to initiate dialogue beyond our traditional borders. As
VP of Education for MPI’s Greater New York Chapter, I will do all I can to
establish forums that help meetings professionals understand how to be heard in
executive offices, thus taking their perceived and real value beyond logistics
and into the realm of strategy and goals. Has progress already been made? Sure. A General Services
Administration scandal that uncovered excessive spending of taxpayer dollars at
a meeting is only two years in the past. Yet, as Ms. Finn points out, there were
750 government-held conferences this year. What she doesn’t point out is that maybe,
just maybe, the business reasons for those meetings outweighed any concern over
the perceptions they would arouse – so much so that, even after the GSA mess,
those groups held their events anyway knowing the scrutiny they would face. We have an enormous task at hand but also an enormous
opportunity. We need the trade press to sound the trumpets. We need to penetrate the general business media. We must continue the dialogue,
spread the word, extend our professional comfort zones, and
implore our peers to take part. Then and only then will we be able
to raise the bar of awareness, silence the critics,
and educate important voices like Holly Finn. Being able some day to refer to her as an advocate for our business would be a sweet victory indeed. |
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