Is Your DMO Prepared for Cvent’s Latest Forecast for a Decline in Group Business in the Second Half of 2020?

January 7, 2020
By Mya Surrency

Here are 5 resources to help your CVB prepare

Cvent’s latest Group Business Outlook predicts a slight downturn in 2020. Make sure your CVB has plans in place to help your hotel partners deal with the effects of a downturn. We have been incredibly fortunate to have the longest bull market in history topping the bull market of the 1990s that lasted 113 months, according to S&P historical data.

Cvent predicts that booking activity on its platform will be up in the beginning of 2020, as compared to last year, but that it will soon go downwards. Cvent’s data projects that group bookings will start to improve toward the middle of 2021.

We developed this list of 5 resources that will help your CVB address a potential downturn.

First off, you can download & read our eBook: 5 Ways Your DMO’s Group Sales Team Can Help Prepare Hotel Partners for an Economic Downturn. Our eBook gives your team actionable steps you can do now, while times are still good to prepare for the uncertainty of tomorrow.
Read our blog on the 5 Ways to Group Up & see if there are some new tactics we share that your DMO can utilize
Look into new group market segments to drive business like eSports. Check out our blog on the booming eSports industry & think of other potential market segments that may be a good fit
Check out our blog on how group sales teams can use new digital marketing methods to help close more business & see if there are any tactics you CVB can implement now
If reading case studies helps inspire you to find new ideas on how to change up your meetings marketing strategies, take a browse through the various case studies we have published over the years to see what inspires you & may work for your organization

If your CVB needs a little more support, Digital Edge is an agency that knows how to address meetings marketing in both a growth market and a downturn. Our team has more than 75 years of combined group sales and group marketing experience for CVB’s and hotels. We understand how to deliver effective marketing that supports your sales team know matter which economy we are in.