No if, ands, or buts about it your business is suffering if you are using multiple systems to manage its day-to-day operations.  The time it requires to jump between different software to find information or run a report is time wasted.  Think of it as those elements of your business that fall through the cracks never to be seen or heard from again.  The fact is that we are human and humans make mistakes especially when we are left to fend for ourselves out in the wild business jungle.

Within the meetings and conference industry your customer retention percentage is a great barometer when it comes to measuring the strength of your business.  A high customer retention rate means the customers are satisfied with your venue and choose to come back again and again.  A low customer retention rate is usually a red flag indicating that customers are unhappy and are choosing to go elsewhere.

When you start looking into investing in any new product or service the question of whether or not you will see a return on investment or ROI will come up in conversation usually with the finance person or your boss.  It can be a difficult question to answer if you are not prepared.  Before we get into any formulas to figure out the ROI it might be good to define the term.

As we look at closing the books on 2016 and starting a fresh new chapter in 2017, have you given any thought to making some resolutions for your conference and event business?  It’s fun to reminisce about your past successes, but it can be a bit more challenging to identify what needs tweaked or revamped to continue to build onto your success into the future.  Here are a few ideas that you might consider adding to your list of business resolutions:

1) Share the Workload by Delegating

With another year almost under our belts this is a good time to reflect on the good things and not so good things that have occurred over the last 12 months.  This is also the perfect time to consider looking at different ways to attract new customers to your venue.  One method is to look at your business and see where you have the ability to make some minor tweaks that could turn into major gains.  One solid idea is to consider adding a complete meeting package to your pricing options.