One of the benefits of a strategic meetings management program is the rich data that comes from meeting and event information that is registered in the tool. There are lots of ways to slice and dice the data to develop relevant reporting that supports the objectives of the program and addresses the needs of your key stakeholders.
For those who lead the SMMP, here are five relevant reports that support the success metrics for the program:
1. Overall volume of meetings and events: How close or far are these to your volume estimates?
2. Savings metrics based on contract negotiations: Are you achieving, exceeding, or missing your savings targets?
3. Comparison of savings across hotels brands: Are some brands significantly higher or lower than other brands? Should you consider shifting market share?
4. Number of cancelled meetings: How frequently have you been successful in reusing the cancelled space?
5. Comparison of contract signature date to meeting start date: Is there a reasonable lead time, or is there a short booking window that could be leading to higher-than-necessary costs?
For key stakeholders in finance, marketing and other areas, consider these reports:
1. Event marketers want to know the volume of events in all regions. What is the volume for each kind of event (Tier 1, 2, 3, 4) in the respective geographic regions?
2. Business units are interested in the number of meetings with external attendees versus internal staff. Ideally, the business unit teams are meeting more with customers than with themselves.
3. Finance wants to know how well the preferred payment method is being utilized. Are meeting cards being used for payment in North America as intended?
4. Security should have access to real-time reporting regarding meeting locations. This helps to ensure the safety and security of company staff, intellectual property, and other assets.
5. SMMP program sponsors want to know the adoption and compliance metrics. Exception reporting provides insights into areas of the organization that may need additional training.
Be sure to validate what each stakeholder is interested in before setting up the reports and then proactively share the relevant reporting. Don’t wait to be asked; distribute the data quarterly and annually, at a minimum!