Kevin Iwamoto, Lanyon’s vice president, industry strategy, says SMM is the answer to many companies’ “manual, inefficient, and extraordinarily expensive” approach to organising events and meetings.
“The right strategy partnered with the latest technology can automate those processes, improve the value of in-person meetings and provide great outcomes,” he says. “Most companies do not fully realise the level of investment they are making in meetings, events and travel.”
A recent study showed that nine per cent of a company’s budget, and up to 24 per cent of a marketing department’s budget, are spent on meetings, events and travel. If this were a line item on an income statement it would be one of the single largest expenses in the company. Many are spending a significant amount of money with little view of the return.
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