Adobe Stock A COASTAL COMMUNICATIONS CORPORATION PUBLICATION FEBRUARY 2023 VOL. 30 NO. 1 $15.00 INSIDE PLANNING OUTDOOR EVENTS SOCIAL MEDIA’S ROLE IN MEETINGS CALIFORNIA ARIZONA Tech Tools Can Help Streamline the Planner’s Job PLANNING POWERLearn more at VisitCOS.com/meet Welcome to Colorado Springs, where our wide-open spaces, 300 days of endless blue skies and stunning scenery serve as the backdrop to your meetings and events. Discover historic properties, unique venues and value-priced, first-tier amenities. The Colorado Meetings & Events Incentive program has been extended, offering a 10% rebate on eligible hard costs.* In Colorado Springs, you’ll find room to inspire, innovate, connect and re-energize. *See our website for details KATHY REAK, CFMP Vice President of Sales Kathy@VisitCOS.com | 719.685.7632INSURANCE & FINANCIAL MEETINGS MANAGEMENT | FEBRUARY 2023themeetingmagazines.com 3 FEBRUARY 2023 Vol. 30 No. 1 14 22 30 26 departments features 14 26 30 4 18 22 The Great Outdoors Add Activities to the Agenda to Get Attendees Outside By Maura Keller Planning Power Tech Tools Can Help Streamline the Planner’s Job By Maura Keller Get Noticed There is No Mistaking Social Media’s Role in Meetings By Maura Keller California Offering Diversity, Great Weather and an Abundance of Outdoor Options By Dan Johnson Arizona Providing Beautiful Outdoor and Indoor Spaces By Nancy Mueller destinations 6 8 10 12 34 Publisher’s Message News & Notes Increase ROI A Strong Lead-Generation Partner in the Insurance & Financial Services Industries is Invaluable By Jamal English Born to Sell 10 Teachable and Non-Teachable Skills Great Salespeople Must Possess By Dr. Christopher Croner Virtually Speaking How to Design Must-See Online Talks By Scott Steinberg Corporate Ladder 18 ISSN 1095-9726USPS 012-991Harvey Grotsky A COASTAL COMMUNICATIONS CORPORATION PUBLICATION PUBLISHER/EDITOR-IN-CHIEF Harvey Grotsky harvey.grotsky @ themeetingmagazines.com CREATIVE DIRECTOR Kristin Bjornsen kristin.bjornsen @ themeetingmagazines.com MANAGING EDITOR Henry Fitzgerald henry.fitzgerald @ themeetingmagazines.com EDITORIAL COORDINATOR Rachel Galvin rachel.galvin @ themeetingmagazines.com CONTRIBUTING EDITORS Sophia Bennett Cynthia Dial Dan Johnson Maura Keller Christine Loomis Keith Loria Kathy Monte Nancy Mueller David Swanson PRESIDENT & CEO Harvey Grotsky VICE PRESIDENT OF OPERATIONS David Middlebrook david.middlebrook @ themeetingmagazines.com ADVERTISING SALES OFFICES 2500 N. Military Trail, Suite 283 Boca Raton, FL 33431-6322 561-989-0600 Fax: 561-989-9509 advertising@themeetingmagazines.com REGIONAL MANAGER Bob Mitchell 630-541-3388 bob.mitchell@themeetingmagazines.com DIRECTOR OF SPECIAL PROJECTS Michael Caffin 914-629-5860 michael.caffin@themeetingmagazines.com Reasons for Optimism and Great Expectations Stagnation is not a pretty word, and the economic conditions it describes are even less attractive. Many meeting planners have firsthand experience to affirm that, having just weathered two years of the worst economic conditions in the United States since the Great Depression. Meetings and incentive programs felt the impact of the COVID-19 pandemic. Meetings were being curbed and/or eliminated as one way to tighten belts and abide by health and safety protocols. Current chal- lenges facing our industry that top the list for planners include higher costs due to inflation and supply- chain problems . Now the good news. Recent reports, if they are to be believed, show a somewhat strong economic recovery is underway, and it is ex- pected to continue through 2023. In many cases, companies are lift- ing restrictions on meeting plan- ning and travel budgets. Insurance and financial companies are once again thinking positive and plan- ning meetings, returning to pre-pandemic levels. As an experienced meeting planner, you can expect to face rising costs in hotel bookings, airfare and food and beverage. Hopefully, these increased costs will continue to moderate as the economy improves. To facilitate and create successful events in the meantime, you can shift event formats and use better tools to help you plan. There’s good reason for both sides of the meeting and incen- tive travel equation — corporations and suppliers — to look fur- ther into 2023 with optimism and expectation. Now, those are pretty words! Insurance & Financial Meetings Management is published bi-monthly by Coastal Communications Corporation, 2500 N. Military Trail, Ste. 283, Boca Raton, FL 33431-6322; 561-989-0600. Single copies $15.00 U.S.A.; back cop- ies $17. Yearly subscription price is $70.00 in the U.S.A.; $135.00 in Canada. Distributed without charge to qualified personnel. Periodicals Postage Paid at Boca Raton, FL, and additional mailing offices. POSTMASTER: Please send address changes to Insurance & Financial Meetings Management, 2500 N. Military Trail, Ste. 283, Boca Raton, FL 33431-6322. Nothing contained in this publication shall constitute an endorsement by Coastal Communications Cor- poration (Insurance & Financial Meetings Management), and the publication disclaims any liability with respect to the use of reliance on any such informa- tion. The information contained in this publication is no way to be construed as a recommendation by I&FMM of any industry standard, or as a recommenda- tion of any kind to be adopted by or binding upon any corporate/incentive travel planner or agent. Reproduction of any portion of this publication by any means is strictly forbidden. Editorial contributions must be accompanied by return postage and will be handled with reasonable care. However, the publisher assumes no responsibility for return of unsolicited photographs or manuscripts. Subscriber: Send subscription inquiries and address changes to: Circulation Dept., Insurance & Financial Meetings Management, 2500 N. Military Trail, Ste. 283, Boca Raton, FL 33431-6322. Give old and new addresses including zip codes. Enclose address label from most recent issue and allow five weeks for change to become effective. Printed in U.S.A. © 2023 www.themeetingmagazines.com UNFORGETTABLE SETTINGS FOR Experience retreat destinations like no other. Host your next event at either of our two spectacular destination resorts with flexible indoor and outdoor meeting space and custom activities designed to meet your needs. Inspirg events SANCTUARY (480) 607-2350 sales.sanctuary@gurneysresorts.com MONTAUK (631) 668-1888 sales.montauk@gurneysresorts.com themeetingmagazines.com 4 FEBRUARY 2023 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT | PUBLISHER’S MESSAGE |UNFORGETTABLE SETTINGS FOR Experience retreat destinations like no other. Host your next event at either of our two spectacular destination resorts with flexible indoor and outdoor meeting space and custom activities designed to meet your needs. Inspirg events SANCTUARY (480) 607-2350 sales.sanctuary@gurneysresorts.com MONTAUK (631) 668-1888 sales.montauk@gurneysresorts.comDALLAS, TX — The World Travel & Tour- ism Council (WTTC) recently revealed Orlando is the largest U.S. Travel and Tourism city destination in 2022, with an economic contribution of more than $31 billion, representing 20% of the city’s total GDP and recovering above 2019 levels by $2.7 billion. The Cities Economic Impact Report analyzed key Travel & Tourism metrics across 82 cities around the world, including contribution to GDP, employ- ment and traveler spend. The report studied the sector’s impact in Orlando, Las Vegas, Miami, Chicago, New York City, San Francisco, Washington, D.C., Los Angeles and Honolulu. Las Vegas followed Orlando as the second-largest Travel & Tour- ism market in the U.S., with a direct GDP contribution of $23 billion last year, surpassing the 2019 baseline by 5.3%. Miami made the top city destinations list with a heroic GDP comeback last year of $11.1 billion that exceeded pre-pandemic contributions by 5% despite a devastating 56% drop in economic contribution from the sector in 2020. New York City and Los Angeles also landed in the top U.S. rankings for 2022, with Travel & Tourism GDPs valued at $21.1 billion and $11 billion, respectively, showing strong signs of closing the gap to 2019 levels. For more information, visit wttc.org. NEW ORLEANS, LA — Kimpton Hotel Fontenot, in the heart of New Orleans’ Central Business District, has released the full details for its 12,000+ sf of flex- ible meeting and events space in the property’s upcoming expansion. The hotel is now accepting bookings for groups and events with new special offers available. The expansion of the hotel’s footprint into the historic build- ing next door will house the new meet- ings and events space available to host a wide array of business gatherings in a central location. It makes a convenient launching point for exploring the city’s cultural and culinary highlights. The hotel is also offering a special promo- tion for groups and meetings staying between June 1 and September 31, 2023 that meet the hotel’s minimum spend of $20,000. Those who qualify will enjoy 3% off the total bill, one complimentary upgrade per 30 rooms and more. ARLINGTON, VA — Knowland, the world’s leading provider of data-as-a-service insights on meetings and events for hospitality, recently announced that the Phoenix, Arizona market led the U.S. meetings and events industry by volume for January. Second place went to Orlando, with Washington, D.C. taking third. The leading industry driver for meetings was Technology across four of the top five markets. The top five markets by volume are: Phoenix, which was in the lead hosting primarily Pharma/Biotechnology, followed by Healthcare and Financial/Banking. Orlando closed out the month with Technology groups at the top and Healthcare and Pharma coming in second and third. The next three markets, Wash- ington, D.C., Atlanta and Dallas rounded out the top five markets. WASHINGTON, DC — The Incentive Research Foundation recently released its signature study, The IRF 2023 Trends Report. Given one of the most challenging labor markets in history, incentives are a critical business strategy to help organizations attract, retain and build culture. Among the study’s findings: The new decentralized workforce comes with new expectations and con- siderations for the structure and delivery of engagement pro- grams to inspire employee performance and loyalty. The demand for incentive travel is strong for 2023, but economic and staffing issues are often forcing incentive program owners to scale back. To meet the needs of the changing workforce, incentive travel needs to be more exciting, more exclusive, more experiential and more authentic. To read the full list of trends visit theirf.org. NEW YORK, NY — Economic headwinds, changing B2B buying behaviors and fewer resources are some of the critical chal- lenges facing event practitioners in 2023, according to the third annual Events Outlook Report from Splash, an event marketing technology company that serves enterprise companies and their event, marketing and sales teams worldwide. The survey of 670 event marketers and professionals in North America, Europe and the UK, conducted in late 2022, found that despite 85% of event marketers reporting an increase in their budgets for 2023, they continue to feel stymied by their lack of resources — both human and financial — and the need for technology that better supports their roles and helps them to improve efficiencies. Visit splashthat.com to learn more. KNOWLAND: PHOENIX CLAIMS TOP EVENT MARKET FOR JANUARY 2023 INCENTIVE RESEARCH FOUNDATION RELEASES IRF 2023 TRENDS REPORT 2023 EVENTS OUTLOOK REPORT REVEALS SHIFTS IN EVENT FORMATS, BUDGETS KIMPTON HOTEL FONTENOT NOW BOOKING GROUPS WITH SPECIAL OFFERS WTTC: ORLANDO IS 2022’S LARGEST TRAVEL & TOURISM CITY DESTINATION IN U.S. The Orange County Convention Center Phoenix Convention Center themeetingmagazines.com 6 FEBRUARY 2023 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT | INDUSTRY NEWS |CHICAGO, IL — Hyatt Hotels Corporation recently announced the planned rebrand- ing of Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch to Grand Hyatt Scottsdale Resort & Spa in late 2024, which will mark the first Grand Hyatt hotel in Arizona. The hotel’s ownership group, Xenia Hotels and Resorts, plans to invest approximately $110 million to transform the property into a Grand Hyatt hotel. The resort will undergo renovations of its guest rooms, pools, food and beverage outlets, its spa and fitness center, and key public areas and amenities, including the expansion of the hotel’s indoor and out- door meeting and event spaces. Renova- tion of Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch is expected to begin in early summer, with an anticipated com- pletion in late 2024. SAN JUAN, PR — Discover Puerto Rico, the island’s official Destination Market- ing Organization (DMO), shares the 2022 record-breaking, success story of the island’s travel and tourism sector. On the heels of the COVID-19 pandemic, Puerto Rico reported peaks in incoming travelers, record revenues and more local tourism employees than ever before. Puerto Rico’s unique appeal as a U.S. territory with an unparalleled cultural flair, natural won- ders and warm “Boricua” spirit continues to allure travelers, contributing to the Island’s tourism successes in 2022, which include: more than 5.1 million passengers arrived at the Luis Muñoz Marín Interna- tional Airport, a 6.5% increase from 2021; approximately $8.9 billion in revenue was generated by travel and tourism, a 39% increase over the previous high in 2019; the Island now employs more than 91,500 individuals in travel and tourism related jobs, also the highest ever; employment in the leisure and hospitality sector has increased by 12.8% compared to pre- pandemic levels; and booked group room nights in 2022 doubled. LAS VEGAS, NV — Las Vegas welcomed 38.8 million visitors in 2022, according to research published by the Las Vegas Con- vention and Visitors Authority (LVCVA). This represents a 20.5% boost from 2021. Conventions also continued to ramp up in 2022, the first full calendar year of trade shows and meetings since the COVID-19 pandemic, hosting nearly 5 million meet- ing attendees. That is more than double the 2.2 million convention attendees in 2021. Hotel occupancy for 2022 also came in at a strong 79%, with weekend occu- pancy at 89% and midweek occupancy at 75%. Las Vegas leads the nation in overall hotel occupancy, which averages 63%. Travel to Las Vegas was boosted by sev- eral major sporting events. PORTSMOUTH, NH — The United States Construction Pipeline Trend Report from Lodging Econometrics (LE) for 2022 indicates that the franchise com- panies with the largest construction pipelines at the end of Q4 are led by Marriott International (Marriott) with 1,490 projects/180,113 rooms. Following Marriott is Hilton Worldwide (Hilton) with 1,378 projects/154,790 rooms and InterContinental Hotels Group (IHG) with 789 projects/78,951 rooms. Com- bined, these three companies account for 67% of the projects and 64% of the rooms in the total pipeline. At the close of Q4 2022, these top franchise com- panies also have the greatest number of projects and rooms in each stage of the U.S. construction pipeline. Mar- riott closed the quarter with the largest project count in the under construc- tion stage with 266 projects/36,112 rooms, followed by Hilton with 252 projects/31,240 rooms and IHG with 141 projects/15,935 rooms currently under construction. ALEXANDRIA, VA — Global business travel is forecast to see an uptick in 2023. Companies are expected to send more employees on trips, and travel sup- pliers anticipate an increase in corporate travel spending. Sectors such as finance, insurance, professional services and consulting are showing stronger signs of growth in business travel spending. Despite potential economic challenges and uncertainty surrounding the post- COVID-19 return of China, the industry remains optimistic about continued recovery and employees’ willingness to travel. These are among the key insights from the Q1 2023 Business Travel Out- look Poll recently released by the Global Business Travel Association (GBTA). GBTA surveyed more than 600 business travel buyers, suppliers and industry pro- fessionals. Business leaders may antici- pate a recession, but travel managers are anticipating more business travel. Three in four travel managers (78%) expect their company will take a lot more (22%) or more (55%) business trips. Only 15% of travel managers expect to see the same levels of business travel, and 7% expect fewer or a lot fewer trips. View the complete Q1 poll results at gbta.org. GBTA: BOOKINGS, SPENDING AND OPTIMISM ON THE UPSWING HYATT TO REBRAND HYATT REGENCY SCOTTSDALE RESORT & SPA AT GAINEY RANCH PUERTO RICO REFLECTS ON 2022 AS STRONGEST YEAR IN TOURISM HISTORY LAS VEGAS WELCOMED NEARLY 39 MILLION VISITORS IN 2022 MARRIOTT, HILTON, IHG CLOSE Q4 2022 WITH LARGEST PROJECTS COUNTS INSURANCE & FINANCIAL MEETINGS MANAGEMENT | FEBRUARY 2023themeetingmagazines.com 7 DEPOSITPHOTOS.COMthemeetingmagazines.com 8 FEBRUARY 2023 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT T here is a good reason why 67% of companies consider lead generation the most signifi- cant measure for content success. A partner who knows the ins-and-outs of targeting and converting high-value customers with an interest in your product is invaluable. If you settle on one thing this year, make it finding a lead-generation specialist who can guide prospects to your funnel and take them all the way through the sales journey. Lead generation is the best means you have to maximize your revenue and growth. A knowledgeable lead-generation partner understands how to turn high-quality prospects into high-value customers. That ability translates directly into the revenue that will spur your company’s growth. The catch is a lot of strategy goes into attracting and converting high- value customers. Here are four reasons why partnering with someone who knows how to generate quality leads will enable you to scale your business by increasing the lifetime value of every customer you serve: 1. THEY BOOST YOUR REVENUE WITH QUALITY LEADS Lead-generation strategy is a bridge to your target pros- pects. You need content, messaging and offers specifically crafted to reach the groups already interested in your ser- vices and products. Getting your message in front of high-quality leads — as opposed to random prospects — means they will be far more likely to convert. When you know the right pain points to focus on, both your conversion rate and your revenue increase. When you generate leads in the insurance sector, the key is quality over quantity. The number of leads you have is far less important than the number of leads you convert into new customers. I met Reda, my business partner, at a networking event in Dallas. Both of us were building insurance agencies focused on final expense. Reda was a first-rate salesman with a gift for connecting with clients. He was getting more sales than I was, but I was making more money. How can this be explained? My success boiled down to an understanding of cost per acquisition. While Reda connected with more custom- ers than I did, he was spending too much on leads, so we decided to combine our talents. With his knack for sales and my understanding of which leads would generate the most profit, we expanded our agency to a monthly gain of $500,000 in under three months. 2. THEY KNOW HOW TO IMPROVE LEAD QUALITY Many businesses approach marketing by creating loads of content and scattering it across the internet. It’s a little like throwing a whole plate of spaghetti at the wall and see- ing which noodles stick. That approach may bring a steady stream of traffic to your website, but if those prospects are not converting into customers, you have wasted your time and money. The goal of lead generation is to target your content creation toward prospects that are highly likely to convert. To ensure this happens, the brand messaging you create for social media and the web needs to be targeted. In other words, cater your ads to specific groups. If you want to increase your conversion rate, you will need to know your target audience inside and out. The insurance space involves a wide range of verticals, each of which has a different audience. A knowledgeable lead- generation partner will enable you to refine your marketing by developing a thorough understanding of your audience. | INDUSTRY INSIDER | BY JAMAL ENGLISH INCREASE ROI A Strong Lead-Generation Partner in the Insurance & Financial Services Industries is InvaluableINSURANCE & FINANCIAL MEETINGS MANAGEMENT | FEBRUARY 2023themeetingmagazines.com 9 There are many ways a lead-generation partner can deliver targeted leads ready to convert, but I’ll focus on one example. In the insurance industry, I often see companies lean on pay-per-click advertising instead of pay-per-call. In e-commerce, pay-per-click models are profitable. However, in many verticals of the insurance industry, you will find that pay-per-call is the best way to obtain quality leads. Think about it: Which customers are more likely to con- vert, those who find your sales funnel through a website or those vetted through a phone conversation? Which leads would you prefer to purchase when selling high-ticket prod- ucts, leads who clicked on a link or leads who interacted with a human being before talking with your sales team? Pay-per-call creates leverage for your sales. Partnering with lead generation that offers a full day of telesales reduces your cost for each customer acquisition and sup- plies your sales team with prospects primed to convert. 3. THEY BUILD VISIBILITY AND BOOST AWARENESS Whether you are a startup in need of buzz or an established business wanting to scale, attracting the eyes of your target audience is crucial. Visibility happens when you learn to create the content your audience cares about and share it in the places they will find it. A lead-generation specialist can help you develop low-barrier offers that appeal to the masses. These offers are designed to open the door for a steady stream of high-value customers. As you create low-barrier offers, focus on building your client base and learning everything you can about what your customers need. You provide value through a low- barrier offer and monetize your expanding customer base by offering more products they need. The low-barrier offer reels your prospects in, and they return again and again for other products and services. This marketing increases the number of customers you serve, as well as their lifetime value. That strategy enables businesses to scale. 4. THEY CREATE BUSINESS OPPORTUNITIES Lead generation is not entirely centered around lowering your customer acquisition cost. The right lead-generation partner can also increase the lifetime value of your custom- ers by presenting you with business opportunities. So many insurance verticals and other industries contain customers who would benefit from your services. By the same token, your customers can be a huge asset to other businesses. Knowing the most advantageous non-compet- ing companies to team up with and share leads is a win-win. The crucial takeaway is that your customer base is valu- able. A lead-generation partner can help you organize your business to handle transactional volume, then build a strong referral network. Companies are willing to pay a lot of money for referrals. For example, people dealing in life insurance often find that their clients need guidance from financial advisors in the areas of retirement planning, tax deferral strategy and wealth management. Most of them already run in the same circles as accountants who provide these services without ever realizing how much they could benefit each other. Setting up a referral arrange- ment or teaming up to host a joint webinar enables each of you to ben- efit from a wider customer base and grow both of your companies at once. A lead-generation specialist knows how to build a referral network for the products and services that appeal to your clients. They can help you lead with a highly transactional, low-barrier offer to bring customers to your door and monetize the back end with a referral service to increase the lifetime value of each customer. You benefit your customers by offering ser- vices they genuinely need, and you generate revenue that scales your business. Lead generation is not a set-it-and-forget-it strategy. To get the most out of each and every lead, you will need an ongoing campaign. Your tactics will need to evolve with changing trends, and you must keep in constant touch with your customer base. The right lead-generation partner will develop a strategy enabling you to see clear results in terms of revenue and growth. I & FMM Jamal English is the CEO and founder of EDM Network, a dominant lead generation and marketing company revolutionizing strategic marketing, technology and distribution innovation. English is an entrepreneur and investor with deep expertise in the needs of the insurance, financial-services and home-services industries. He developed unique marketing campaigns that attract quality leads and produce fast results for clients. The core of EDM Network’s service is lead generation, and the goal is to help businesses achieve continuous profitable and scalable growth. For more information, visit edmleadnetwork.com. Lead generation is the best means you have to maximize your revenue and growth. | THE AUTHOR |Next >