SMM Fast Facts
- SMM is a disciplined approach to enterprise wide meeting management and drives meeting value, cost savings and risk reduction.
- 50% of CEO’s and CFO’s do not feel their planning departments maximize leveraged meeting spend / ROI
- The critical first step is an enterprise wide meeting needs assessment / 12 Step Action Plan (and ultimately, business plan)
- Senior management buy-in is critical and expanding your knowledge of the overall organization / business acumen is essential
- An important component is meetings consolidation / leverage spend and specific metrics to define and measure success (total meeting saving expectations should be 14% – 22% annually)
- Often too much emphasis is placed on cost reduction and not enough focus on meeting architecture, design and meeting attendee experience / outcomes (ROI / ROE)
- A Preferred Supplier Program will compliment and enhance your in-house resources / careful supplier evaluation with a focus on SMM / ROI outcomes is critical
- Creating a compliance plan for the organization / stakeholder communications, SMM policies, training and SMM evaluation process (on-going / never be satisfied)
- Robust technology drives SMM / data for strategic decisions and 24/7 access to management / financial reports (including cost savings / risk reduction report by meeting)
- Big picture SMM goals include increased team productivity, meeting consolidation / leverage spend, meeting processes, procedures, logistics / achieve senior management, stakeholder goals / management, financial reports that validate your results
Meetings are big investments and implementation of SMM standards will have a big impact on your organization, meeting quality, bottom line…and career.
Please contact me if you have any questions on these Strategic Meeting Management initiatives or if you would like information on MSR's SMM meeting support services, advanced technology and SMM consulting.
Tim Brown, CEO
Meeting Sites Resource
Phone: 949-250-7483 ext. 312
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