Polishing negotiating skills, AI as a timesaver and working with indigenous communities were all front of mind at Smart Monday, powered by MPI.
The dedicated day of learning, taking place the day before IMEX America 2024 opens, brought buyers and suppliers together in front of dozens of global experts who served up fresh perspectives, seasoned wisdom and occasionally provocative ideas.
One of the themes arising during the day’s programming was the importance of well-honed negotiation techniques. Gaylen Paulson from the University of Texas explored the art of negotiation in his session, explaining how the key to success lies in understanding the other party’s needs and values. He emphasized the 80/20 rule of negotiation, urging people to spend 80 percent of their time focusing on the other party’s concerns and only 20 percent on their own. He said:
“Perspective-taking is crucial for effective negotiation.”
Hosted buyer Hannah Donohue, from non-profit organization Wounded Warrior Project, commented: “I’ve seen prices shift from one year to the next so it’s essential to build strong ongoing supplier relationships that allow for more nuanced conversations around budgets. My organization plans around 7,000 meetings a year and I’m responsible for negotiations around many of our multi-day events, so strong connections with partners, from venues, destinations and hotels, are vital.”
“One key shift we’ve noticed in negotiations with hotels is around attrition rates,” explained Courtney Rose, Director of Events & Travel, Gradient Financial Group. “Before COVID, the standard was 20 percent, but now it has dropped to 15 percent and hotels seem much less willing to negotiate on this.”
Technological timesaving
Mitch Mitchem, CEO of HIVE Interactive and an experienced technology expert, used his session to dive into specifics, outlining several tasks where AI is already playing a significant role including script writing, sales emails and marketing campaigns. Mitchem highlighted AI’s ability to streamline operations, calling it a “huge time saver” particularly in data analytics and the creation of slide decks.
Attendee Valerie Smith from Comcast commented: “AI is what everyone’s talking about – I’d like to know how best to integrate this into our events – whether it’s registration, speakers or communications.”
Community impact
Elsewhere in a jam-packed session, Michael Drake from Destination Vancouver talked about Canada’s efforts to work with its indigenous communities, explaining how event planners can make a meaningful impact rather than resorting to tokenism. “In Canada, we’re in the process of truth and reconciliation with our Indigenous First Nations communities. The first step for event planners is to engage them. You can invite them to welcome your event, but I encourage going further—include them as speakers or provide travel passes or free tickets. Another step is to source as much as possible from the community, such as local foods or products that offer social benefits to the community, women, or youth.”
Earlier in the day, MPI Keynote, Andre Norman, known by some as the Ambassador of Hope, also spoke about making a bigger impact. “As you’ve heard from my life and my work in the prison system, there are people all over the world right now who are struggling and who need hope. Everyone in this room who plans events can decide to move beyond appearances and make a more meaningful impact with their events. You can do that!”
IMEX America 2024 takes place at Mandalay Bay, Las Vegas, October 8 – 10.
eTurboNews is a media partner for IMEX.
