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April 30, 2009

New service launched for gauging business value of meetings

A new turnkey, return on investment (ROI) diagnostic service for large meetings has been developed by MeetingMetrics, based on the ROI Institute's measurement methodology.

The company’s managing director Ira Kerns claims it will provide senior executives, meeting owners and meeting professionals with a quick, credible, fact-based assessment of the business impact and financial value of their organisation's meetings.

Kerns believes that the new services could play a key role in convincing companies of the power of meeting face to face.

"Without meetings, there will be no meetings industry,” she said. “The most direct way to meet this challenge is proving to corporate stakeholders that investments in specific large meetings can and does produce valuable business results that drive an organisation's performance – and that those meetings should be protected as excellent investments."

Meeting Professionals International (MPI) agrees and is measuring the ROI of its recent MeetDifferent conference in Atlanta, as well as the upcoming 2009 WEC in Salt Lake as a model process of meeting results measurement for its members.

“In these challenging economic times, the value of our industry is being questioned,” said Vicki Hawarden, vice president of knowledge and events for MPI. “It is time to change that perception and show the public that meetings are part of the solution.

"Proving this value, by using cost-effective technology solutions like the MeetingMetrics Diagnostic ROI Service, should always be a standard operating practice."

The new service begins with a customised ROI survey conducted among meeting participants, who report on their achievements three to four months after the meeting. The diagnostic ROI measurement process takes about two weeks to complete, using MeetingMetrics online ROI survey tools to measure the meeting's impacts and financial value.

A real-time, automated online ROI reporting tool quickly provides clients with the essential information they need to make data-driven decisions about whether to keep a meeting, change it or drop it.

For more information, visit www.meetingmetrics.com

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