The End of the Boondoggle: Customers Want Business Content in Their Events

In this tough economic climate, we might be seeing the demise of high-end hospitability programs. No more three-day junkets to the Caribbean or celebrity meet-and-greets at the golf tournament. More and more, business content trumps hospitality.

Of course, clients will continue to accept those plum tickets to the game if you keep handing them out. But the odds are getting longer that the audience you really want to reach—CEOs and other C-level executives—will actually attend. We’re hearing anecdotal evidence from our program clients that more and more, senior executives hand off those tickets to underlings as prizes, or to family.

In fact, to attract the most senior participants, client relationship-building programs must center on business content. ITSMA research shows that senior executives also are looking for programs that enable peer networking and dialogue with the provider. We have found that in-person seminars and executive briefings are the most preferred types of events, followed by advisory councils and online seminars.

Relevance, Not Roulette

Senior client executives want to learn about new ideas and new approaches to tackling different problems they are facing, and they want to be in the room with peers and subject matter experts. The specific topics chosen are important draws.

Of course, this gets back to an important point we’ve been making since the recession began: You must know your clients and their business issues.

In all likelihood, you and your competitors are vying for attention from the same pool of senior executives. It is getting harder to attract that attention. How can you ensure that your relationship programs stand out? Relevant, compelling business content is the source of differentiation.

An Existing Relationship Helps

Moreover, senior executives are more likely to attend programs when they have a relationship with the sponsoring solutions provider. In addition to learning and networking with peers, senior executives want the opportunity to influence the strategy and direction of their providers. The one thing senior executives don’t want is a sales pitch.

Hospitality won’t go away completely, but it is getting harder and harder to justify. Even hospitality will need to be directly linked to demonstrating business value and thought leadership. Indeed, from marketing’s point of view, it might be best to leave pure hospitality in the hands of the sales force.

For more information about what senior executives are looking for from events, contact Julie Schwartz, ITSMA’s senior vice president of research and thought leadership.

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ITSMA specializes in helping companies market and sell services and solutions more effectively. We work with the world's leading technology, communications, and professional services providers to generate increased demand, strengthen customer relationships, and improve brand differentiation. ITSMA annual program clients include business leaders such as Avaya, BT, Cisco, Deloitte, Hewlett-Packard, IBM, Microsoft, and Tata Consultancy Services, among others. Our comprehensive research, consulting, and training on topics including ITSMA Account-Based Marketing℠, Brand Positioning, and Solutions Development provide the insight and experience companies need to improve business results. ITSMA is based near Boston, and has offices in London and Tokyo. Learn more at www.itsma.com.