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How Generational Buying Preferences Will Transform the Meetings Marketplace

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Development Counsellors International
Development Counsellors International

This document summarizes the results of a survey conducted by the IACC Emerging Trends Committee and Development Counsellors International on generational preferences in meeting location selection. The survey received 94 responses from meeting planners across different generations. Key findings include that location, meeting space flexibility, and cost were the most important factors for all generations. Younger generations placed more importance on amenities, activities, and technology compared to older generations. The top reasons for declining a facility were cost, inadequate meeting space, and location.

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IACCs Emerging Trends Committee Presents: Generational Preferences In Meeting Location Selection March 2013
IACCs Emerging Trends Committee Created in 2007 Members are 30 years old or younger Has conducted three initiatives including: Comprehensive Guide to Social Media (2012) Internship model (2011)
Development Counsellors International Since 1960, DCI has worked with 400+ countries, states and cities globally to drive both investment and tourism. Published Winning Strategies in Destination Marketing in 2012
Methodology IACC Emerging Trends Committee (ETC) and Development Counsellors International jointly developed the survey. Survey explored if there are generational preferences among meeting planners and whether these preferences shape how meeting space is selected. On January 10, 2,000 meeting planners were invited via email to participate in an online survey. Meeting planners were selected from a combination of IACC member meeting planners lists and DCIs own internal meeting planner list. Survey was entitled: Selecting A Conference Center: Choosing the Right Facility for Your Audience 2013. The survey garnered 94 responses which is nearly twice of the previous surveys by IACCs ETC.
Generation Definitions Mature Age 66+ Baby Boomer Age 47-65 Gen X Age 33-46 Gen Y/Millenial Age 18-32
Respondent Profile Mature: NEC, 3% Baby 2% Boomer: Gen Y: 12% 45% Gen X: 38% * NEC= Not Otherwise Classified
Q. Have you ever heard of the International Association of Conference Centers (IACC)? 76% of respondents have heard of IACC Matures 100% Baby Boomers 74% Generation X 72% Generation Y 82%
Q. If you have heard of IACC, on a scale of one (not important) to five (very important), how important do you feel it is that our next event be held at an IACC facility? Importance of Using an IACC Facility 50% 45% 40% 30% 24% 21% 20% 7% 10% 3% 0% 5 (Very 4 3 2 1 (Not Important) Important)
Importance of Using an IACC Facility (average response by generation) 5.0 4.0 3.1 3.0 2.9 3.0 2.4 2.0 1.0 0.0 Baby Boomer Matures Generation Y Generation X
Q. Please rate on a scale of 1 (least important) to 5 (most important) how important each of the following factors are when choosing a conference facility on behalf of your clients. Most Important Factors When Choosing A Conference Facility 4.5 5.0 4.2 4.2 4.1 4.5 4.0 3.5 3.0 2.5 2.0
Less Important Factors When Choosing A Conference Facility 5.0 4.0 4.5 3.5 3.4 4.0 3.5 2.7 3.0 2.5 2.0
Generational Differences When Choosing A Conference Facility Generation Y Generation X Baby Boomer Mature 5.0 4.5 4.0 3.5 3.0 2.5 2.0
Most Important Characteristics By Age Group (denotes answers by respondents who indicated that they selected conference centers based on the age of their meeting attendees by ranking it a 4 or 5 in importance) Mature Baby Boomer Gen X Gen Y Proximity to airport Proximity to Proximity to airport Cost airport and restaurants Ease of getting Ease of getting Renovated Chic/Modern Facilities around around Cleanliness Cleanliness Vibrant activities Entertainment, Evenin g Activities, Recreation on Property, Off-site Activities Walking distances Comfortable Uniqueness Design within venue rooms with reading chairs Level of service Wi-Fi Wi-Fi/Latest Technology Technology Wheelchair Access Access to food/beverage
Q. Thinking abut your clients annual meetings/ conferences that you have planned/attended, what are the three most important criteria in selecting a conference facility? Top Criteria For Facility Selection 24.1% Adequate meetings rooms/flexibility of space 18.2% Location/appeal of destination 16.8% Accessibility 16.4% Affordability/cost 7.7% Technology
Top Criteria For Facility Selection (by generation) Baby Criteria Gen Y Gen X Boomer Adequate meeting rooms/flexibility of space 22.2% 26.3% 31.1% Location/appeal of destination 25.9% 20.0% 19.4% Accessibility 14.8% 8.4% 8.7% Affordability/Cost 22.2% 14.7% 14.6% Technology 3.7% 8.4% 7.8% Size/Capacity 11.1% 4.2% 0.0% Service 7.4% 6.3% 0.0% Food & Beverage offerings 0.0% 3.2% 7.8% Condition/Updated/Not under Renovation 7.4% 6.3% 5.8%
Q. What are the top three challenges or reasons you would choose NOT to use a specific conference facility or other type of meeting venue? Top Reason For Declining A Facility 16.7% Cost/excess charges 12.5% Inadequate meeting space (size/amount) 10.2% Location 9.8% Appearance/condition of property 8.3% Inadequate meeting space (layout/design)
Top Reason For Declining A Facility (by generation) Baby Criteria Gen Y Gen X Boomer Cost/excess charges 28.6% 17.3% 20.9% Inadequate meeting space (size/amount) 21.4% 8.6% 17.4% Location 10.7% 11.1% 11.6% Appearance/Condition of property 3.6% 12.3% 11.6% Inadequate meeting space (quality/layout) 17.9% 25.9% 16.3% Accessibility 3.6% 7.4% 10.5% Quality of Staff/Service 7.1% 8.6% 3.5% Lack of technology or outdated 3.6% 6.2% 5.8% Bad reviews/reputation 3.6% 2.5% 2.3%
Q. Thinking specifically about the meeting space(s) within a conference/meeting facility, please rate the importance (1=least important, 5 = most important) of the following meeting room characteristics. Most Important Room Elements 5.0 4.3 4.0 3.8 4.0 3.0 2.0 1.0
Less Important Room Elements 5.0 3.6 3.1 4.0 2.6 3.0 2.0 1.0
Importance of Room Characteristics (by generation) Baby Criteria Gen Y Gen X Boomer Mature Space has elements that are conducive to learning or training 4.4 4.3 4.3 4.5 Space fosters collaboration and innovation 4.0 3.9 4.0 4.5 Availability of break out rooms with informal, moveable furniture 3.5 3.7 4.0 4.0 Space has informal furniture groupings to allow participants to socialize and converse with one another 3.0 3.6 3.7 3.5 Space provides the ability to recognize sales or key performers 3.5 3.2 3.0 3.0 Availability of white boards on wheels 2.2 2.4 2.9 2.5
www.iacconline.org www.AboutDCI.com

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How Generational Buying Preferences Will Transform the Meetings Marketplace

  • 1. IACCs Emerging Trends Committee Presents: Generational Preferences In Meeting Location Selection March 2013
  • 2. IACCs Emerging Trends Committee Created in 2007 Members are 30 years old or younger Has conducted three initiatives including: Comprehensive Guide to Social Media (2012) Internship model (2011)
  • 3. Development Counsellors International Since 1960, DCI has worked with 400+ countries, states and cities globally to drive both investment and tourism. Published Winning Strategies in Destination Marketing in 2012
  • 4. Methodology IACC Emerging Trends Committee (ETC) and Development Counsellors International jointly developed the survey. Survey explored if there are generational preferences among meeting planners and whether these preferences shape how meeting space is selected. On January 10, 2,000 meeting planners were invited via email to participate in an online survey. Meeting planners were selected from a combination of IACC member meeting planners lists and DCIs own internal meeting planner list. Survey was entitled: Selecting A Conference Center: Choosing the Right Facility for Your Audience 2013. The survey garnered 94 responses which is nearly twice of the previous surveys by IACCs ETC.
  • 5. Generation Definitions Mature Age 66+ Baby Boomer Age 47-65 Gen X Age 33-46 Gen Y/Millenial Age 18-32
  • 6. Respondent Profile Mature: NEC, 3% Baby 2% Boomer: Gen Y: 12% 45% Gen X: 38% * NEC= Not Otherwise Classified
  • 7. Q. Have you ever heard of the International Association of Conference Centers (IACC)? 76% of respondents have heard of IACC Matures 100% Baby Boomers 74% Generation X 72% Generation Y 82%
  • 8. Q. If you have heard of IACC, on a scale of one (not important) to five (very important), how important do you feel it is that our next event be held at an IACC facility? Importance of Using an IACC Facility 50% 45% 40% 30% 24% 21% 20% 7% 10% 3% 0% 5 (Very 4 3 2 1 (Not Important) Important)
  • 9. Importance of Using an IACC Facility (average response by generation) 5.0 4.0 3.1 3.0 2.9 3.0 2.4 2.0 1.0 0.0 Baby Boomer Matures Generation Y Generation X
  • 10. Q. Please rate on a scale of 1 (least important) to 5 (most important) how important each of the following factors are when choosing a conference facility on behalf of your clients. Most Important Factors When Choosing A Conference Facility 4.5 5.0 4.2 4.2 4.1 4.5 4.0 3.5 3.0 2.5 2.0
  • 11. Less Important Factors When Choosing A Conference Facility 5.0 4.0 4.5 3.5 3.4 4.0 3.5 2.7 3.0 2.5 2.0
  • 12. Generational Differences When Choosing A Conference Facility Generation Y Generation X Baby Boomer Mature 5.0 4.5 4.0 3.5 3.0 2.5 2.0
  • 13. Most Important Characteristics By Age Group (denotes answers by respondents who indicated that they selected conference centers based on the age of their meeting attendees by ranking it a 4 or 5 in importance) Mature Baby Boomer Gen X Gen Y Proximity to airport Proximity to Proximity to airport Cost airport and restaurants Ease of getting Ease of getting Renovated Chic/Modern Facilities around around Cleanliness Cleanliness Vibrant activities Entertainment, Evenin g Activities, Recreation on Property, Off-site Activities Walking distances Comfortable Uniqueness Design within venue rooms with reading chairs Level of service Wi-Fi Wi-Fi/Latest Technology Technology Wheelchair Access Access to food/beverage
  • 14. Q. Thinking abut your clients annual meetings/ conferences that you have planned/attended, what are the three most important criteria in selecting a conference facility? Top Criteria For Facility Selection 24.1% Adequate meetings rooms/flexibility of space 18.2% Location/appeal of destination 16.8% Accessibility 16.4% Affordability/cost 7.7% Technology
  • 15. Top Criteria For Facility Selection (by generation) Baby Criteria Gen Y Gen X Boomer Adequate meeting rooms/flexibility of space 22.2% 26.3% 31.1% Location/appeal of destination 25.9% 20.0% 19.4% Accessibility 14.8% 8.4% 8.7% Affordability/Cost 22.2% 14.7% 14.6% Technology 3.7% 8.4% 7.8% Size/Capacity 11.1% 4.2% 0.0% Service 7.4% 6.3% 0.0% Food & Beverage offerings 0.0% 3.2% 7.8% Condition/Updated/Not under Renovation 7.4% 6.3% 5.8%
  • 16. Q. What are the top three challenges or reasons you would choose NOT to use a specific conference facility or other type of meeting venue? Top Reason For Declining A Facility 16.7% Cost/excess charges 12.5% Inadequate meeting space (size/amount) 10.2% Location 9.8% Appearance/condition of property 8.3% Inadequate meeting space (layout/design)
  • 17. Top Reason For Declining A Facility (by generation) Baby Criteria Gen Y Gen X Boomer Cost/excess charges 28.6% 17.3% 20.9% Inadequate meeting space (size/amount) 21.4% 8.6% 17.4% Location 10.7% 11.1% 11.6% Appearance/Condition of property 3.6% 12.3% 11.6% Inadequate meeting space (quality/layout) 17.9% 25.9% 16.3% Accessibility 3.6% 7.4% 10.5% Quality of Staff/Service 7.1% 8.6% 3.5% Lack of technology or outdated 3.6% 6.2% 5.8% Bad reviews/reputation 3.6% 2.5% 2.3%
  • 18. Q. Thinking specifically about the meeting space(s) within a conference/meeting facility, please rate the importance (1=least important, 5 = most important) of the following meeting room characteristics. Most Important Room Elements 5.0 4.3 4.0 3.8 4.0 3.0 2.0 1.0
  • 19. Less Important Room Elements 5.0 3.6 3.1 4.0 2.6 3.0 2.0 1.0
  • 20. Importance of Room Characteristics (by generation) Baby Criteria Gen Y Gen X Boomer Mature Space has elements that are conducive to learning or training 4.4 4.3 4.3 4.5 Space fosters collaboration and innovation 4.0 3.9 4.0 4.5 Availability of break out rooms with informal, moveable furniture 3.5 3.7 4.0 4.0 Space has informal furniture groupings to allow participants to socialize and converse with one another 3.0 3.6 3.7 3.5 Space provides the ability to recognize sales or key performers 3.5 3.2 3.0 3.0 Availability of white boards on wheels 2.2 2.4 2.9 2.5
  • 21. www.iacconline.org www.AboutDCI.com