MPI and the MPI Foundation, along with its partner AIBTM, announced the completion of their Business Value of Meetings (BVOM) research initiative. The result is a robust toolkit of measurement, analysis and reporting resources that helps planners become more strategic within their organizations.
The toolkit arms and empowers planners with a range of resources for measuring, understanding and communicating the effectiveness of meetings including articles, how-to guides, webinars, workbooks, tutorials and videos. It can be accessed online at http://www.mpi.org/BVOM.
"Research reveals a staggering need to determine the business value of meetings," says Bill Voegeli, president of Association Insights, who conducted MPI's research. "Fewer than 1 percent of meetings currently measure value. That means the rationale for meetings can more frequently be called into question. The BVOM Toolkit provides planners with the resources needed to understand how meetings and events are providing value for organizations."
The BVOM Toolkit provides easy-to-use solutions to support planners in five key areas:
- Understanding the importance of measurement
- Gaining stakeholder buy-in
- Defining meeting objectives and expectations
- Devising meaningful ways to measure value
- Analyzing and reporting BVOM data
"The BVOM initiative reinforces the commitment of the MPI Foundation and our partner, AIBTM, to conduct critical research that yields relevant and accessible knowledge and tools for MPI members and the community at large," says Didier Scaillet, Chief Development Officer for MPI. "Meetings are crucial to our business, but justifying how meetings and events drive bottom-line success has been a challenge. Until now."
BVOM is part of the MPI Foundation's Thought Leadership series. The next project to be launched in the MPI Thought Leadership series is Strategic Meetings Management. A natural evolution from the Business Value of Meetings project, SMM provides a framework which addresses the majority of issues considered to be barriers to determining the business value of your meetings.
Meeting Professionals International (MPI), the meeting and event industry's largest and most vibrant global community, helps members thrive by providing human connections to knowledge and ideas, relationships, and marketplaces. MPI membership is comprised of more than 21,000 members belonging to 71 chapters and clubs worldwide. For additional information, visit mpiweb.org.
About the MPI Foundation
The MPI Foundation is passionately committed to bringing vision and prosperity to the meetings and events community worldwide by investing in results-oriented initiatives that shape the future and bring success to the meetings and events community. MPI is the meetings and events industry's largest and most vibrant global community comprised of more than 21,000 members representing 84 countries worldwide. For more information, visit www.mpifoundation.org.
AIBTM forms part of the Reed Travel Exhibitions Meetings, Events and Business Travel Portfolio along with AIME (www.aime.com.au), GIBTM (www.gibtm.com), CIBTM (www.cibtm.com) EIBTM (www.eibtm.com) and Business Travel Market (www.businesstravelmarket.co.uk). AIBTM (www.aibtm.com) is the annual global meetings and incentive exhibition held in Baltimore, USA.
Reed Exhibitions is the world's leading event organizer, with over 500 events in 39 countries. In 2011 Reed brought together six million active event participants from around the world, generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organized by 33 fully staffed offices. Reed Exhibitions serves 44 industry sectors with trade and consumer events and is part of the Reed Elsevier Group plc, a world-leading publisher and information provider and a FTSE 100 company.