New research from the National University of Singapore suggests that eliminating face-to-face meetings and events would negatively affect companies and associations.

Academic papers seldom become talking points in consumer and travel trade media, but ‘Why face-to-face business meetings matter’ by Dr Richard Arvey, head of the Department of Management and Organisation at the National University of Singapore, recently attracted considerable coverage. Arvey says: “…eliminating face-to-face meetings would be a mistake for businesses because of the variety of positive psychological and general business outcomes that meetings can offer corporations.”

One reason for the buzz is that the positive findings reaffirm what suppliers and service providers want to believe. Perhaps another is that an international hotel chain commissioned the study – obviously the results will praise the value of business meetings, says an industry observer.

CEI Asia asked several association and corporate endusers why they continued to hold meetings, training and networking sessions amid the economic crisis, and weighed the perceived value.

Professional development
For professional associations, members attend seminars so they can continue to earn professional development points, while the networking events provide an opportunity to gather market intelligence and make new contacts.

President of the Singapore Institute of Arbitrators, Johnny Tan, says its seminars draw 30 to 50 attendees on average, and even more for social events. He says: “Getting the right topic and speaker is important. As organisers, we do not just look at the lowest rates, but venues that are conveniently located and provide the best value in terms of product, service, ambiance and extras such as unrestricted complimentary parking deals.” As examples, Tan cited Marina Mandarin for seminars, and Fullerton Waterboat House and Oso Ristorante for networking evenings.

Corporate meetings are also down, but still on track. Shipping organisation ABS Pacific, for instance, has fairly large meetings involving more than 30 colleagues at any one time.

Business objectives
ABS human resource director SS Tan says: “Gathering and meeting at a single location helps us to stay focused on our business objectives and get our work done effectively. We chose Hilton Singapore for its strategic location. Our colleagues can enjoy myriad shopping and entertainment options after a long day of meetings.”

While banks’ hospitality budgets may be reduced in the US and Europe, Asia seems less severely affected at this stage. Citibank, for instance, continues to host its Citigold Seminars regularly. In May, its seminar at Shangri-La, Singapore presented market insights and analysis by its own speakers and Mark Mobius, executive chairman of Templeton Asset Management. Earlier in March, Maybank hosted a classy reception at the Reflections at Keppel Bay show site, with exquisite refreshments, a popular comedian and the opportunity to take a ride around the site in a Lamborghini or Lotus sports car.

For trade events, David Rich, senior vice-president, worldwide program strategy, George P. Johnson Experience Marketing, says that where there have been fewer attendees due to corporate travel budget cuts, those who do attend trade shows are the buyers most likely to be in-market and looking to buy. Rich says: “A bad economy tends to cull the field of buyers. Those who remain are the high-value prospective customers that businesses need to engage to drive top-line performance. That’s the most tangible benefit there is for today’s corporate marketing decision-maker.”

The question is not whether companies and associations should continue to meet – whatever form they make take, and whether internal or external – but finding the right mix that will deliver both tangible and intangible returns.