Marketing Muscle

The role of meetings in marketing, a theme introduced by Young, was discussed in more depth during the second general session. Speakers analyzed new data that reveals how important events are to pharmaceutical marketers.

According to “EventView 2006: Healthcare/Pharmaceutical Report,” a study co-sponsored by Meeting Professionals International Foundation and George P. Johnson, pharmaceutical companies invest about 24 percent of their marketing budgets in meetings and events. Asked to rank the effectiveness of marketing channels, 17 percent of survey respondents thought that event marketing delivered the highest return on investment. Events were topped only by sales promotions, chosen by 18 percent. Additionally, 49 percent of respondents believe event marketing will become more important in the future. (For more study results, visit meetingsnet.com, and search for “Education, not Entertainment.”)

“The work you do has great respect among senior-level stakeholders,” said David Rich, vice president, strategic marketing worldwide at George P. Johnson, North Easton, Mass.

A thought-leaders panel weighed in with their perceptions of event marketing and other industry trends with the help of moderator Carol Krugman, CMP, CMM, director, client services at George P. Johnson.

The panelists agreed with the premise that meetings deliver excellent ROI, and they cited several reasons why. One, they have a targeted audience, and two, they lend themselves to building relationships and person-to-person interaction. However, commented Lynn Ridzon, director, global marketing management, Bristol-Myers Squibb Co., Plainsboro, N.J., it's important to have the right audience for the message delivered. “You can have a room full of people, but if you don't have the right people, then the ROI for the meeting probably won't be as great.”

Compared to other marketing channels, the ROI or ROO of meetings is relatively easy to measure, added Betsy Bondurant, director, meeting planning and trade shows at Amgen, Thousand Oaks, Calif. To that point, 73 percent of survey respondents conduct some form of measurement. Those that do, added Krugman, were three times more likely to forecast an increase in their event marketing budgets. “The collection of data is the cornerstone of what we're trying to do,” explained Philip Dunphy, director, global travel and meeting management, Pfizer Inc., New York. Data — whether it involves tracking meeting spend or measuring meeting effectiveness — is the key to identifying trends, building effective programs, saving money, and getting the ear of senior executives, he said.

Your Inner Leader

In addition to data-collection, how else can meeting planners take a more strategic role, as Young recommended, and elevate their visibility?

One key is to think about meetings and how they affect the organization beyond the four walls of the conference room, said panelists Michael Galindo, associate director, business operations at Merck and Co., Rahway, N.J.; and Nancy Hoppe, associate director, global congress and convention management, Wyeth Pharmaceuticals, Collegeville, Pa., during a session focusing on strategic meeting management.

To get the attention of executives, Hoppe said it's important to examine broader issues and industry trends and determine how they apply to meetings. What are the biggest issues? SarbanesOxley, pharmaceutical industry regulations, globalization? Figure out what they are and then find solutions that are beneficial to the company. “The more you can present opportunities, the better you will be positioned with executives,” Hoppe said. “They will no longer look at you as just handling logistics, but as a strategic advisor to your stakeholders.” Toward that end, Galindo and Hoppe are spearheading efforts at their respective companies, along with senior executives, to consolidate U.S. and global meeting operations into one department.

To get a seat at the table you need to be able to dialogue with executives effectively. But just the thought of sitting across the table from a C-level officer can be intimidating. The best way to communicate with executives is to be prepared and be direct, said Galindo. Get right to the point, tell them what you plan to do, then work backwards and explain how and why. Often, they don't have time to waste waiting through an entire presentation, particularly if the idea doesn't ultimately grab them.

“They are performance-driven and bottom-line oriented,” he added, so providing data and metrics to support ideas is critical. And if the situation calls for an ugly truth, don't sugarcoat it. “You have to be honest, blunt, and let them know the pitfalls,” he said.

Also, don't present a problem and ask executives what they think should be done; instead, offer them viable solutions. “They don't like surprises; they like solutions,” Hoppe said.

Audience members posed a slew of questions to the panel. One participant asked what to do if you don't have access to executives. Enlist the support of an executive champion to promote your ideas and solutions, panelists said. Another asked what to do if an immediate boss is a barrier to communicating big ideas to executives. Don't go over the manager's head, the panelists said; rather, explain to him or her how the idea will help the department.

During the thought-leaders panel, Dunphy and Ridzon encouraged planners to anticipate trends and view changes as opportunities to exert more influence. For example, Bondurant explained how she spearheaded the effort to consolidate meetings at Amgen several years ago based on data she collected and expenditures she tracked. The effort helped the company and elevated her standing, she said. “I made my career what I wanted it to be, not what someone else wanted it to be.”

Vital Stats: Third Annual Pharmaceutical Meeting Planners Forum

When: March 25 to 26, 2007

Where: Pennsylvania Convention Center, Philadelphia

Co-organizers: Medical Meetings Magazine and Center for Business Intelligence

Number of attendees: 992

Number of exhibiting companies: 100

Exclusive presenting sponsor: American Express

For coverage of the first two conferences, visit meetingsnet.com and search for “Take Charge,” “Pharma Meeting Planners Tackle Challenges,” and “Pharmaceutical Meeting Planners Find Themselves Front and Center.”

Regs Resources

For more information about regulations that affect pharmaceutical meetings, check out the following articles at meetingsnet.com:

• State of State Regs
• Guidelines Go Global
• California's New Pharma Marketing Law