< PreviousI t’s official: The U.S. economy — with its fluctuating gasoline prices, supply-chain issues, inflation and staffing constraints — is facing a challenging time. Businesses are worried, consumers are cautious and investors are downright jittery. What does this mean for the budgetary environment within the meetings and events industry? Well, like everything else in the business, that depends on who you ask and where they’re located. But the consensus is that budgets for 2023 will be quite challenging for meeting planners. Key Concerns Sherri K. Lindenberg, senior vice president, marketing communications with Crump Life Insurance Services, says the biggest budgeting concerns facing meeting planners and the industry in general are the unknown variables. “With each passing month, it seems there is a new area of chal- lenge, from all travel related expenses and specific food items to availability of supplies, to staffing-related costs,” she says. “As we get back to holding events, planners have seen challenges with on-site A/V support, as local hotel A/V vendors seem to have trouble finding and maintaining skilled staff who can work the hours we need. COVID-19 has really impressed upon us the need to maximize our in- person time with interactive and engaging sessions — which often requires more preparation from speakers, planners and technology.” Lindenberg adds that the inflationary economy has severely impacted meetings and events budgets. “We have increased our budget line estimates for every aspect of our events,” she says. “We are seeing airfare averages come in higher than pre-COVID, food and beverage costs are up, and most service related costs are up.” She suggests a few cost-cutting tips: • If it works on the agenda and the locale, start the meeting after lunch or end before lunch, and let attendees get lunch on their own, which is usu- ally less costly as an expense than a group meal. Depending on the venue, you can sometimes con- sider this for breakfast too. • For basic business meetings, look at no-frills options, such as venues near an airport to save on transportation. • Focus on technology options to reduce costs, leaning into the features of a mobile app to mini- mize the need for papers and signage. • Work more with sponsors to support events for some of the extras that help make it memorable, such as entertainment, décor, gifts and speakers. • For smaller meetings in walkable cities, consider small group dinearounds — less than 10 — that themeetingmagazines.com 10 OCTOBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT COURTESY OF CONVENE INDUSTRY INSIGHT Budget Blues The Uncertain Economy Makes Planning Meetings Difficult BY MAURA KELLER In-person meetings and events, which are a vital component of the travel industry, are returning. But economic uncertainty may keep many organizations and companies from fully returning their budget dollars for meetings and events back to 2019 levels.can be managed as individual dinner reserva- tions, rather than group events. • Look at home locations for attendees and sched- ule centrally located regional events to mini- mize travel costs. “We discuss meeting costs with the business partners we work with early to clearly set expectations and jointly identify areas where we can cut costs,” she says. “We keep the partners apprised of status throughout the event, so everyone is clear on expectations and we can make adjustments as needed. With the continued economic pressures, I think events and event budgets will continue to be challenged.” She continues: “The pandemic experience has shown us what can be done in a virtual environment and what the benefits of in-person events are. We have learned to ask new questions every time we have programs: Should/can this content be handled virtu- ally or must it be in-person? If we are in person, how are we going to maximize our time together? What areas should we spend money on to make the experience worthwhile? What areas can we cut back on if budgets are tight and still deliver a meaningful program?” Brie Richards, CMP, sourcing manager at Brightspot Incentives & Events, says one of the biggest concerns the team at Brightspot is seeing is the increase in airfares and hotel pricing. They are seeing on average up to 40% higher airfare and 15% to 20% higher room rates from hotels, regard- less of destination. “For many of our clients, these increases can take up over two-thirds of their budget, leaving limited funds to focus on things like attendee experience or creativ- ity,” Richards says. After COVID, also came inflation. “We truly feel it in almost every area of life. However, it has been interesting, at least with our client base, that we aren’t seeing as much willingness to increase budgets from what they had spent pre- COVID,” Richard says. However, regardless of budgetary constraints, many of today’s organizations are no longer interested in the rinse- and-repeat beach trip with a choice of catamaran or zip line or a group beach dinner at night. They want once-in-a-lifetime experiences their attendees can’t go to or reproduce during their own leisure travel. “They want their attendees to be ‘wowed’ in a way that keeps them talking about the trip back at the office with their fellow employee,” Richards says. “As event planners, this excites us, but for our alter egos, accountants, it can cause a bit of stress. The trend of air and hotel inflation requiring a larger share in the overall budget mixed with higher customer expectations requires not only creativity in the typical areas of themes and décor, but also in financial management.” However, what makes this ever more tough, as Richards points out, is that most are not willing to sacrifice quality or an experience, but instead are raising the bar in those areas. The reality is that companies must come to terms with the fact that they are going to have increase their overall budgets to create the incentive or meeting experiences that truly have an impact on their attendees. “Although this may take a short- term hit on their yearly budget, it will ultimately achieve the long-term biggest return on their investment with employee or customer loyalty and increased results across the board,” Richards says. Kara Dao, CEM, chief operating officer at JDC Events, adds that due to many organiza- tions not having conventions in 2020 and pos- sibly 2021, there was a lack of revenue being generated. That means, for some organizations, there was little to no funding in 2022 to hold events, and this is having a domino effect into 2023. “This, in combination with reduced participation from both INSURANCE & FINANCIAL MEETINGS MANAGEMENT | OCTOBER 2022themeetingmagazines.com 11 PHOTO BY CHRISTIANI / JDC EVENTS Planners are seeing increased expenses across the board for everything related to meetings, such as F&B, lodging, travel, A/V and more. Experts suggest having a good budget contingency plan. Sherri K. Lindenberg Senior Vice President, Marketing Communications Crump Life Insurance Services We are seeing airfare averages come in higher than pre- COVID, food and beverage costs are up ...the attendees, sponsors and exhibitors, means less chance to recoup quickly,” Dao says. The inability for venues to provide lower-cost solutions is also adding to meeting planners’ budgetary concerns for 2023. “A good example is the impact that the pandemic has had on the supply chain,” Dao says. “Many venues have had to reduce their catering offerings because of this. That means less ability to provide lower-cost packaged solutions to groups.” Annette Suriani, CMP, CFMP, DES, business events strat- egist at AMS Meetings Solutions, says with budgetary con- straints also comes stress. “As we try to resume in-person meetings, there is so much uncertainty that stress is at a heightened level,” Suriani says. “Hotels, convention centers and restaurants are understaffed and are not at service levels attendees expect. Prices for goods and services have increased, and lead times for ordering signage, giveaways and even food have increased. Moreover, with the issues people are facing with air travel, attendees are truly reconsidering the value of attending in-person versus virtually, if that is offered.” The Hybrid Approach As the meetings and events industry continues to recover from the impact of the COVID-19 pandemic, one thing’s for sure: hybrid events are here to stay. Not only do hybrid events offer a sense of convenience for those unable to attend in per- son, but they also offer an affordable alternative for both hosts and attendees, alike. And in our current tight economy, that’s an oft-celebrated option. Phoenix Porcelli, CMP, vice president of sales at Convene, a company that provides virtual and hybrid meeting platforms for meetings and events, sees key budgeting concerns facing meeting planners and the industry in general going into 2023 — including head-count uncertainty, technology needs and short-term booking windows. • Head-count uncertainty — Meeting planners and their clients do not know how many attendees to anticipate for their program as they are not seeing 100% return to the office. This is causing pressure on budgets as clients need to prepare for multiple different attendance scenarios. • Technology needs — Whether an event is hybrid or not materially impacts the scope of a budget for an event. Companies are holding off on con- firming their A/V needs during the contracting period and want the flexibility of adding hybrid prior to their program. • Short-term booking window — The industry is witnessing a reduction in time from inquiry to arrival, which has made budgeting extremely challenging for planners. They cannot budget and plan the same way for programming, as they are subject to higher costs with last-minute changes. “Budget uncertainty is prevalent for 2023, as budgets are being scrubbed and revised for the upcoming year. Our cli- ents are experiencing pressure to be more strategic with the budget that is allocated,” Porcelli says. “A short-term booking window is also making it challenging to budget for the year, which was not an issue pre-COVID. This puts pressure on planning partners and other suppliers to turn RFPs around quickly and plan events on a much more compressed timeline, which may increase costs. There is also the hybrid compo- nent to consider as clients are trying to manage expectations from their hosts regarding the need for virtual speakers and participants.” In response to the budgetary issues that have emerged as of late, Porcelli is seeing small meetings remain virtual to conserve budget dollars for larger events. For those in-per- son meetings, clients are looking to under-guarantee on head count, committing to revenue minimums that allow the flexibility of increasing head count if RSVPs surge. “We’ve also seen an increase in half-day meetings in an effort to conserve bud- get, while the demand for flexibility — whether flexibility in date due to budget constraints or flexibility to transition to hybrid — remains prevalent as well,” Porcelli says. According to Mark Kilens, original creator of Hubspot and CMO of Airmeet, event budgeting is a big issue for organizations across the board. There are two key challenges that, if addressed, can make the process eas- ier. These are leaning on expertise and having a big enough contingency. “It’s hard to know what you don’t know. And for first-time event planners, this is a common issue, even if you’ve created a detailed budget. Also, the issue can go both ways. Not having enough expertise can lead to over budgeting or under budgeting,” Kilens says. The second issue is not having a big enough contingency. Contingencies are important, especially now, because, as we know, it’s easy for things to change on a whim. “If you have planned an in-person event that needs to be switched to one that is hybrid or fully virtual, it is not as simple as switch- ing over to an online platform,” Kilens says. “The original in- person experience needs to be matched online. This means you’ll need to have enough dollars to re-create the origi- nal experience.” And as previously mentioned, with supply-chain issues and changes, the cost of goods and services are all going up. There are shortages and delays affecting every dimension of an event. These include venues, event decor, promotional items, third-party vendors and even the cost of an online platform. “It is important to know what will bring the biggest ROI and contribute to delivering a top-notch experience for attend- ees,” Kilens says. “After identifying what these items are, if you normally give yourself three months to order, customize and check an item off your list — now give yourself six.” Chad Helmer, vice president, operations at Impact XM, which provides a range of services across business and consumer trade shows, user conferences, event activations and digital engagements, adds that proving ROI on hybrid themeetingmagazines.com 12 OCTOBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT Kara Dao, CEM Chief Operating Officer JDC Events Due to budgetary constraints, the creativity and collaboration have to be even stronger. is challenging. “A lot of brands lacked sufficient measurement programs and systems to evaluate the ROI on their event programs pre-COVID,” Helmer says. “Now, with hybrid meetings and events, they are faced with trying to merge data sources between in-person and digital, which can add cost and complexity.” When executing hybrid meetings and events, Impact XM is adjusting pricing expectations from suppliers. In general, they’re seeing supply issues impacting fabrica- tion, technology and logistics to support meetings and events. “There’s been roughly a 30% cost increase across the board, but some categories are even higher. Or the items and materi- als aren’t available at all, or they are on back order,” Helmer says. “As a result, companies are having to plan further ahead and bake in these buffers to their event budgets.” In addition, Helmer is starting to see the early effects of budget cuts — mostly in the labor markets, but some compa- nies are starting to reevaluate their spend in certain areas. “It’s not a widespread reduction in marketing dollars spent on meetings and events, but companies are being more tar- geted and strategic on how they spend for events and meet- ings,” Helmer says. “We’ve seen a shift toward more regional, private events versus participation in industry shows and large gatherings. In the case of regional private events, the audience can be more targeted, and the message is directly from the company versus what you see at trade shows and major conventions.” Budgetary Techniques Today’s economic constraints means that meeting plan- ners need to be detailed, creative and diligent when it comes to budgetary management of a meeting or event. Luckily, for Dao, clients are seemingly understanding and there is a will- ingness to retool their events to offer the “right things” versus “all the things,” she says. That said, there are some key strategies that meeting plan- ners can use when it comes to budgeting tactics in 2023, such as during the sourcing phase, planning ahead is extremely important in a sellers’ market. Hotel availability is slim, which means hotel revenue teams are likely to increase the rates because they know they can sell leftover rooms to the high demand, last minute, corporate or leisure travelers. “Although, group business will always hold a place in the business model of the hotel world, the key to finding a good rate is looking early and being flexible in terms of pattern and destination,” Richards says. This is espe- cially true in first-tier mar- kets, which have returned quickly and intensely since COVID restrictions have been lifted. Richards suggests that a great way to save on costs is to look into second-tier markets that offer an arguably equal level of prestige, but at an overall lower cost and still with excellent airport access. Dao also recommends meeting planners finitely track each dollar with re- forecasting revenue to pro- jected spend on a monthly or even weekly basis. “Re- forecasting regularly has helped. Also, very detailed negotia- tions with venues has helped us locate reductions in spend,” Dao says. “What hasn’t worked is trying to get larger discounts. This doesn’t work when overall investments are down.” And with limited supply, prices will continue to increase. Kilens says meeting planners should be sure to factor these rising costs into their budget plan. If you can’t get the prod- ucts you had initially planned for, be flexible and ensure you maintain enough contact with your suppliers to keep an open line of communication should things change. Meeting professionals all recommend buffering in addi- tional costs to the budget for supply shortage, logistical delay and other “COVID-related” unexpected events. To that end, Helmer suggests having a proper contingency plan in place to cover for a shift in event format, the cancellation of a high- profile speaker/performer, or reduced attendance by consid- ering hybrid and digital formats, and how they might amplify or augment the event experience. “Have a plan to measure the performance of your events so that you have something to lean on when it comes time to provide budgets for 2024,” Helmer says. Beyond that, there is a real need to consider attendees. “The inflationary environment is impacting travel costs, namely airfare and hotel. Even food costs are rising, which means employee travel allowances may no longer go as far as they once used to,” Kilens says. “This all has the ability to affect event turnout. This will be important when think- ing about how you plan to price your event and whether you choose to host an in-person, hybrid or virtual one.” Today, the meetings and events industry seems to be regaining some confidence. It is hard-won confidence, com- ing in the trough of the pandemic and inflationary economy, but it is a hint at least that there may be some light at the end of the tunnel. “Due to budgetary constraints, the creativity and collaboration have to be even stronger. This means providing new ways of doing things that breathes life into the event and invigorates it,” Dao says. I & FMM INSURANCE & FINANCIAL MEETINGS MANAGEMENT | OCTOBER 2022themeetingmagazines.com 13 PHOTO BY CHRISTIANI / JDC EVENTS Many organizations and companies are hosting smaller, more intimate meetings or hosting meetings closer to their prospective attendees to save money on travel or other costs related to large trade shows and conferences.I f the recent COVID-19 pandemic has illustrated any- thing, it’s that the meetings and events industry is a dynamic, flexible industry always on the cusp of embracing the “latest and greatest” elements that make meetings and events truly shine. And one avenue that can dictate the success or failure of an event is the chosen keynote speaker or entertainment lineup. In fact, in the recent 2022 Speaking Industry Benchmark Report, the first of its kind created by AAE Speakers Bureau, it was identified that the top three most important quali- ties of a keynote speaker, according to event organizers, are: how well they fit within their budget (75.5%), how relevant their speaking topics are (65.7%) and how compelling their story is (52.4%). Greg Friedlander, AAE Speakers Bureau founder & CEO, says they are seeing more requests around mental health, workplace wellness and corporate culture since the start of the pandemic. “Leading a company of now 40 employees through the pandemic, I have to say it’s no surprise that the demand for expert guidance around these topics has skyrock- eted,” Friedlander says. “Topics that help employers navigate a changing workforce dynamic are also in demand as compa- nies continue to evolve their work policies to include remote work, hybrid work or even returning to a traditional office.” Another notable trend organizations in the financial and insurance industries are interested in hearing keynote speak- ers discuss has been around diversity, equity and inclusion. Mollie Plotkin, founder and president of the Mollie Plotkin Group, a keynote speaker and entertainment agency, says 2022 has shown some very significant, and specific, speaker trends. “Without a doubt, we’ve seen a huge rise in audience requests for keynotes on disruption, diversity, equity and inclusion, team building and leadership. Second to those themes would be requests for ‘strategies for bringing employees back to the office,’” Plotkin says. Indeed, the Benchmark Report found that topics event themeetingmagazines.com 14 OCTOBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT JESSICA LONG/COURTESY OF GREG FRIEDLANDER PLANNER TIPS The ‘Key’ to a Great Event Success Depends on Hiring Engaging Keynotes & Entertainment BY MAURA KELLER Choosing the right keynote speaker, as well as great entertainment, goes a long way toward whether attendees will come away from an event with memories that will last a lifetime.strategists are prioritizing in 2022 are diversity, equity and inclusion (58.1%), leadership and motivation (57%), mental health (47%) and the future of work (33%). As for entertainment, it’s “go big or go home,” many plan- ners say. Companies that previously brought out a local band for an event are now having Plotkin broker professional artists and musical groups, such as rappers Flo Rida and Pitbull, and singer Bret Michaels. Align the Message Crystal Biringer, meeting planner and president of Toast of the Town, a full-service meeting and event planning firm, says they are often contracted to manage and work with a group’s speakers and keynotes. Biringer advises that meeting plan- ners shop first for speakers and entertainers who have a direct link or tie in to the cause or mission of the event. “When you work to align a speaker more holistically into your event pro- gram, their involvement will often come across as much more authentic, which adds significant value perceived from the attendees,” Biringer says. “Additionally, their presence can be further tied into the pre- or post-event communications, and potentially the overall mission or organization’s messaging.” Once you have identified a few keynote candidates who align well with your organization, mission, event, goal, message, etc., it is also very important to make sure your keynotes have a compelling story to tell. “A personal connection or anecdote goes a long way to engaging an audience here,” Biringer says. “Make sure your speakers have a direct link to the event topic.” Also, be sure to dive into a speaker’s catalog of previous work or other talks they have done. As Biringer advises, it is not only important to make sure they align well within the event’s program, but it is just as important that they can communicate well and keep an audience engaged. “Don’t be afraid to think big and stand out. You would be surprised what it can do for your attendance,” Biringer says, especially in 2022 and moving forward. With life ‘returning to normal,’ events getting scheduled again and people gathering again, attendees want to be ‘wowed.’ “As event professionals, we know that selecting the right speaker starts with understanding your event goals,” Fried- lander says. That means thinking about the desired format — it could be a keynote presentation, fireside chat, workshop or even a performance. And would it be virtual, in person or hybrid? Also consider the main goal of your event — is it to educate, inspire or raise awareness? Perhaps most impor- tantly, make sure you come into the selection process with a clear budget range. Friedlander says all of this information will help you narrow down the kind of speaker that would best suit your needs. Meeting planners also should look for keynote speakers INSURANCE & FINANCIAL MEETINGS MANAGEMENT | OCTOBER 2022themeetingmagazines.com 15 A+E NETWORKS/COURTESY OF GREG FRIEDLANDER Famous athletes, such as former women’s professional tennis player Billie Jean King, center, can be great keynote speakers. Booking a speaker that is the right fit for the event is the No. 1 priority, experts say. Greg Friedlander Founder & CEO, AAE Speakers Bureau Topics that help employers navigate a changing workforce dynamic are also in demand as companies continue to evolve their work policies.who are engaging, experienced and are as invested in your event as you are. Plotkin says planners should welcome key- note speakers and entertainers who are willing to go “the extra mile” for you. Pre-conference phone calls, creating a video message to be sent to attendees, tailoring their speech for the company, industry and audience should all be expected. “During the COVID lockdowns, it seems like everyone decided to become a keynote speaker. One thing a planner should be very aware of is making sure the speaker they hire is an experienced professional and not someone who recently decided to hang out their shingle,” Plotkin says. “You want someone who works with an agency as well. Think about it: Anyone can create a website that touts themselves as an effec- tive, experienced keynote speaker. An agency has done the due diligence for you. If they have chosen to work with them, you know you are working with a professional.” As event organizers identify which speakers may be the best fit for their events, it’s also important to understand what speakers look for in a solid offer,” Friedlander says. “Nearly 80% of speakers we surveyed said that if they feel the event theme and keynote speaking topic are a great fit for their subject-matter expertise, they are highly likely to accept an offer to speak. The next most popular criteria is that it is within their desirable fee range (68.4%). Coming into the discussion with a relevant topic and a matching fee range is your best chance for a solid keynote speaker to say ‘yes’ to your event.” Book Early And when it comes to scheduling, the sooner you book your keynote speaker, the better off you’ll be. Plotkin likes to suggest that as soon as you have your date, venue and theme, the next thing on your list should be booking your keynote speaker. “Remember, the goal of bringing out a speaker is often to set the tone of your event, inspire your audience or educate them on a certain topic,” Plotkin says. “You are invest- ing in this opportunity so give yourself extra time to market the keynote speakers to your attendees.” Friedlander stresses that this year the demand has increased for in-person events, so he also recommends event planners book as early as possible. “With audi- ences excited to get back together in person, keynote speakers’ schedules are more packed than ever, so booking earlier helps give you the best chance to secure your ideal speaker. We encourage booking speakers four to six months in advance of your event — or longer, if possible,” Friedlander says. In the AAE survey, for in-person events, 53.2% of survey respondents said they start looking for keynote speakers between two and six months before their event. Next, 37.3% answered in the six months to a year range, and just 2.8% said they book more than a year before their event. Some are operating on much shorter turnarounds, with 6.8% saying they book within two months of their event or even closer. “The planning windows were much shorter on average for virtual events, with two to four months being the most popular range, at 30.4%. About 24.7% of respondents said they book between six months to a year before their virtual event,” Friedlander says. “It’s exciting to see in-person events com- ing back, but these numbers show that this transition is very much still in progress. Regardless of the event format, booking at least four to six months before your event makes it easier on all parties involved.” When selecting keynote speakers, make sure you themeetingmagazines.com 16 OCTOBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT Mollie Plotkin Founder and President, Mollie Plotkin Group Without a doubt, we’ve seen a huge rise in audience requests for keynotes on disruption, diversity, equity and inclusion, team building and leadership. COURTESY OF MOLLIE PLOTKIN How important is the keynote speaker? Experts say the best time to think about selecting the keynote speaker is early in the process — immediately after determining the date, venue and event theme. understand the difference between “famous” and “great keynote speaker.” For example, too many people call the Mollie Plotkin team requesting someone famous they absolutely want for their event, with no reason other than “we want a big name.” “Just because someone was great at their sport, authored a New York Times bestseller or created a unique business, does not mean they’re a great keynote speaker,” Plotkin says. “With so many excellent speakers to choose from, don’t be misguided by selecting one because your decision maker had stars in their eyes.” Many of the mistakes the AAE Speakers Bureau sees cli- ents make in the event industry center around communica- tion or lack thereof. For example, in its report, they gained a deeper understanding of the challenges speakers say they face when working with event planners. As Friedlander noted, of the concerns raised, most center around communication, clar- ity and timeliness (20.6%), and not effectively explaining the audience (13.2%). About 30% of respondents raised a concern about getting requests for donating additional time or other extra appearances that are not negotiated up front. “On a positive note, more than half of the speakers we surveyed said they had no issues partnering with event organizers,” Friedlander says. Entertainment Know-How While keynote speakers can make an indel- ible mark on any event and leave attendees wanting more, the entertainment component of an event adds the much- needed fun aspect. From musicians to hypnotists, to comedians, entertainment options for financial and insurance events are as vast as the meetings themselves. When booking enter- tainment beyond a keynote speaker, Plotkin says the three most important items a planner should understand are: what a firm offer letter is and how it works, additional requirements that come with pro- ducing a private concert or performance, and the necessity of proper allotment of time to make it all happen. “There are so many great options to explore. I’ve had the pleasure of work- ing with countless comedians, musicians, magicians, chefs and mixologists over the years, and I’ve seen firsthand how they can take an event experience to the next level,” Friedlander says. While you should feel free to get creative with your enter- tainment choices, as with keynote speakers, it’s also impor- tant to, again, keep in mind one of the most important rules of event planning: know your audience. Friedlander says it’s cru- cial that the type of entertainment you select feels appropriate for your specific attendees and fits with the overall theme of your event. “A great way to keep your event moving and your audience engaged is by also booking an emcee. Each time I’ve attended an event with an emcee, the difference is notable. They bring energy and excitement, facilitate conversations between attendees, and even cohesiveness — as they bridge that gap between sessions,” Friedlander says. Another piece of advice Friedlander offers is to keep an open mind. Don’t be afraid to at least consider a wide array of entertainers in your search. “Depending on the length of your event, you may even have the time for multiple entertain- ers throughout the day,” Friedlander says. Including unique forms of entertainment at different times during your event can ensure each attendee gets to experience something new. That said, be sure to clearly explain who the audience is to your speaker or entertainer. Friedlander stresses that the last thing you want to have happen is having a performer’s comment completely miss the mark for the audience. Under- standing the audience and communicating this clearly to your entertainment will help make the performance the best it can be. Plotkin advises that when you are booking professional entertainers, you must understand the process. You aren’t just bringing out a band or performer, you’re creating a pri- vate concert. This includes staging, A/V, bringing in addi- tional power sources, permits and more. All of this takes time and a healthy chunk of the budget. “There are many additional people you’ll be working with, and hiring, in addi- tion to the performer. And, as much as we would like for there to be a menu of options with set prices, it just doesn’t work that way.” Many event planners and attendees are excited to get back to in-person events, and rightfully so. However, Friedlander strongly believes there will continue to be demand for creating engaging virtual events and experiences. “We have learned so much as an industry about how to make great virtual events, and those skills continue to prove valuable to companies and organizations. Many event professionals are creating a mix of formats to fill their annual calendars so that they continue to cater to audiences with varying comfort levels about travel- ing,” Friedlander says. “We’re also still seeing many event organizers go with the hybrid approach, offering a live, in-per- son element combined with a robust virtual experience. This allows you to cast a much wider net when attracting attendees or catering to the preferences of your audiences. It also pro- vides event planners with a built-in contingency plan should the pandemic or another disruption come our way.” I & FMM INSURANCE & FINANCIAL MEETINGS MANAGEMENT | OCTOBER 2022themeetingmagazines.com 17 CASSANDRA WORTHY/COURTESY OF GREG FRIEDLANDER A great keynote speaker can set the tone for the entire event, so it’s important to get them involved early via pre- conference phone calls or video messages. M eeting planners are in charge of a host of things: scheduling, conflicts and ensur- ing attendance, to name a few. To do those things correctly, it’s crucial they stay organized, remain level headed and not become overwhelmed. Many successful meeting planners utilize visualization techniques to help themselves stay calm in the days leading up to the event. If you can visualize it happening success- fully, then the likelihood of handling the stress of planning is much higher. Heather Hall, director of meetings and events for NHDA, plans several large events each year, as well as some regu- larly scheduled meetings, and understands full well the many stressors that can pop up doing the job. “Each day can bring a new challenge, and you have to always plan for the unexpected,” she says. “Think of any scenario that may be presented that you didn’t count on. It’s also the juggling of several events at once, keeping contacts straight and deadlines managed. Once your event is finished, you are always planning for the next one, finding the location and working through contracts, all while keeping your members and leadership in the loop and engaged.” Amy Goldberg, director of sales and senior event man- ager for AE Events, knows there’s no such thing as a typical day in the meetings industry, and you need to be ready for the unexpected. That can lead to stress and worry. “You must understand, the day is filled with a constant reshuffling of pri- orities to keep pushing the momentum of an event forward at all times,” she says. “There is not just the work I need to get done to help answer client questions and needs, but it is also addressing the questions and needs of the vendors we partner with to make an event come to life. If I can get the answers to them first, so they can keep their parts moving, then I can address my to-do list.” As an independent planner, Kim Becker, CMP, DES, SEPC, MBA, president & owner of Emerald Meeting and Event Planning, notes hers is a stressful job because she is bring- ing together large groups of people for work or fun, or both, and there is an inherent weight on the meeting planner that all things must go well from start to finish. “A typical day for me may mean managing details and logistics for up to five or six different clients,” Becker says. “Each one of those clients is most likely in a different phase of the planning process, so there are many details to be managed for each of them, and of course, for the client who is close to the event date, the details and changes come fast and furious.” themeetingmagazines.com 18 OCTOBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT COURTESY OF AMY GOLDBERG INDUSTRY INSIGHT Dealing with Stress Meeting Planners Must Handle the Pressures of the Job BY KEITH LORIA Amy Goldberg, director of sales and senior event manager for AE Events, says constant communication with stakeholders and suppliers helps keep her focused and able keep on track with her to-do list.Causes of Stress Bennell LaPorte, global event planner for LaPorte & Com- pany, notes, although she does have a routine in place that allows her to block out days for client-facing work, exter- nal meetings and marketing, to name a few, some days the routine goes out the window, and instead, is dictated by the biggest pressing priority. “On any given day, I can be fielding an inquiry for a destination event in Greece, doing a site tour as part of my planning discovery process, coaching a client, collaborating on design ideas with creative partners or doing research for a travel design project I may have on the books,” she says. “Although everything I do is, for the most part enjoy- able, it can quickly feel overwhelming if I have several time- sensitive deadlines and diminishing capacity depending on what is required for the task at hand.” There’s a reason event planning has consistently ranked as one of the five most-stressful jobs in the world — next to fire- fighters, military personnel and airline pilots, to name just a few. As the conduits between, and main communicators among, the various vendors and creative partners that are part of any given event, there’s a lot on the plate to manage at any given time. “From needing to meet the expectations and deadlines of every vendor we’re working with while simultaneously holding steady to the vision the client has for their event, we are all at once therapists, master negotiators, at times miracle workers and often the mediators when it comes to averting disasters,” LaPorte says. “Depending on your business model and whether you take on 20+ events per year or you oversee a much more manageable events schedule, we are constantly dealing with looming deadlines, potential changes to components that will trigger a hundred other small changes elsewhere, competing priorities and not to mention the physical demands of our job.” One of the items that causes Becker stress is having to rely on other people to make all the details happen that she’s put in writing. “I can present a detailed plan of what should hap- pen in what room and what time on what day, but if my venue partner doesn’t read that plan and execute it correctly, then my stress level on-site goes up when I realize it hasn’t been completed as I had specified,” she says. Planners are the primary nerve center of the operation, and are all-in when it comes to executing events. From mov- ing and rearranging furniture to creating the perfect space and photo opportunity for guests, to being on their feet 18+ hours a day ensuring that everything is working and running smoothly, the mental, emotional and physical demands of the profession are many, and often not fully understood. “As planners, we know that everything is ultimately on our shoulders to deliver for our clients, so the pressure of ensuring near perfection at every turn is, at times, daunting — but also thrilling,” LaPorte says. “Event planning has its ebbs and flows of stress, but this year in particular has been especially diffi- cult, from supply-chain issues that are forcing us to continu- ously push deadlines or come up with alternatives if some- thing won’t arrive on time, to the way in which everything is now markedly more expensive due to inflation.” Leigh Wickersham, CAE, executive director, National Insti- tute of Oilseed Products, notes a typical day as a meeting planner sometimes finds her spending too much time working on making/cleaning up/fixing hotel res- ervations for members. “I think every person’s needs are individual and different, and my mem- bers and attendees have found that I will listen to them, answer and follow up,” she says. “Most hotel reservations processes are so automated that members are easily frustrated and want to speak to a person. Often, it doesn’t seem easy or effective to call the hotel.” INSURANCE & FINANCIAL MEETINGS MANAGEMENT | OCTOBER 2022themeetingmagazines.com 19 DEPOSITPHOTOS.COM Bennell LaPorte Global Event Planner, LaPorte & Company In this business, it’s easy to get overwhelmed with the amount of things on our daily to-do lists. Stress is part of the meeting planner’s job, and each planner handles the stress differently.Next >