To help meeting planners make the business case for meetings, Meeting Professionals International (MPI) has created a "Business Value of Meetings" (BVOM) toolbox that includes resources for measuring meeting metrics and gaining executive buy-in, it announced this week.
The toolbox is based on a series of white papers that indicate meeting professionals are challenged by five primary barriers to successfully proving the business value of events:
1. Low perception of ROI
2. Difficulty in getting stakeholder buy-in
3. Defining meeting objectives and expectations
4. Devising meaningful ways to measure value
5. Analyzing and reporting BVOM data
MPI currently is working on several tools to address these barriers — including instructional videos and podcasts, how-to articles, case studies, webinars, tutorials and workbooks — which it says will be added to the BVOM toolbox in the coming months.
For example, in December it will add instructional videos, a glossary of terms, two case studies, a handout and a presentation to address the perception of low ROI. In January, meanwhile, it will focus on getting stakeholder buy-in by introducing tutorials on identifying objectives and key business owners, as well as a "Question Bank" and an "Idea Bank" to help planners jumpstart initiatives in their business.
"By identifying these key barriers, the research revealed a manageable path for MPI to lead event professionals down that will lay a strong foundation for the development of a more value-focused event portfolio," said MPI and MPI Foundation Chief Development Officer Didier Scaillet. "Each of the tools and resources we are creating will build on this foundation and empower people to approach their business in a smarter way that enables them to be more successful."
Each tool in the BVOM toolbox will be free to MPI members. Non-members, meanwhile, will be able to purchase them. For more information, visit www.mpiweb.org.