The meetings industry is feeling the positive effects of economic recovery. According to the recently released Convention Sales Practices Study, DMO marketing budgets have increased by 7% in the current fiscal year, more than twice the rate of the average convention center’s budget growth.
In 2012, the restrengthening of DMO marketing budgets is expected to continue with a projected 6% growth.
With the number one expenditure of these growing marketing budgets being spent on “people-based” marketing (ie: trade shows and conferences), how exactly is a DMO’s success measured for their marketing dollars and efforts spent?
How DMO, Venues & Hotel Communities Measure DMO Marketing Success
Convention center success is not as clearly defined throughout the industry, but 65% of venues indicate total event spending at the venue and convention center operational profit/loss as the top success metrics.
The Convention Sales Practices Study, produced by the Destination & Travel Foundation in partnership with Red7Media, benchmarks DMO and convention center sales and marketing practices, and provides insights on sales techniques, marketing channels and incentive/support efforts