BCD Meetings & Events' Scott Graf Explains the Company's Rapid Ramp-Up

• Client-driven growth
• Partner vs. acquisition strategies
• EU regulatory environment driving more business
• Outlook 2016-17

BCD Meetings & Events emerged in August as the integration of BCD Meetings & Incentives and BCD Travel Groups. Since then, president Scott Graf has acquired two companies and launched more than a dozen partner markets, and he told BTN editor-in-chief Elizabeth West the company is poised to do more.

BTN: BCD M&E is growing very quickly. Why the rush?

Graf: We are listening to our customers, and, whether they are working with [strategic meetings management] or not, they all want to do more with fewer suppliers. They're looking for multinational and global companies that give them scope, but they also want local delivery and really strong relationships at the local level with stakeholders. We have a strong global presence, but we needed to be stronger in key markets, particularly Europe and Latin America. We picked up 11 markets in Europe and four in Latin America, and it complemented where we already had strength in the United States, Mexico and Asia/Pacific.

BTN: You have a partner strategy in these markets. Tell me about the vetting process and how you ensure these partners can deliver the right product for BCD M&E clients.

Graf: Today we're in 40 markets. We own 23 of those; the rest are partner markets. Some partners we may view as long term or they might be ultimately an acquisition target for us, so we're picky. We're not looking for a [destination marketing company] that's trying to get into the event or meeting space.

We look at companies that specialize in either local market or local-plus-outbound meeting and event planning. If, for example, we're working with a company in Vietnam, we want them to be very strong in Vietnam but also must understand how they work with the other 10 key markets in Asia/Pacific. We go through a vigorous onboarding process. Most [of our in-market partners] take on our brand and all the resources we have from a technology perspective or anything from sourcing to planning to mobile [applications].

It could be the same partner as our sister company, BCD Travel. Those [partners] have been vetted, so we go through [just] an extra step for meeting and event services. In other cases, it will be a very different choice based on what's best for our customers.

BTN: New regulations for European Federation of Pharmaceutical Industries and Associations members require even more transparency and reporting of transfer of value, including meetings costs, to healthcare providers. Has this environment influenced your strategy and partner uptake in the region?

Graf: It has. Life science and pharmaceutical is our strongest sector. Expanding our presence in Europe helps all of our large global customers. … But we've taken a lot of steps toward compliance training in that market because we saw [these regulations] as an opportunity. [EU companies] have been handling [regulatory compliance] on their own, and outsourcing has been slower than in the North American market. The more regulations that come forth in Europe—and I believe they'll continue to come—customers in that market will start to [see this area] as a great opportunity to outsource a non-core service to someone like BCD M&E. We're trained, we've got the tools, we're ready.

BTN: Your recent acquisitions, Universal Meeting Management and Plan 365, play in the pharma space, correct?

Graf: Universal Meeting Management was really working well in the pharma sector for HCP specifics, managing the healthcare professionals. That acquisition gives us proprietary technology to specifically address how we handle HCPs. Plan 365 sets up go-to-market strategies and the speaker bureau for life sciences. It will enhance the ways we help pharma companies go to market when launching new drugs.

BTN: Has the regulatory environment—in Europe or anywhere—put a damper on meetings volume for the pharma sector? What's your outlook?

Graf: We've not seen a decrease in volume at all. When companies need to have meetings, they need to have meetings. It's our job for that customer to help them navigate those waters as simply as possible. In some cases, we're seeing more meetings, especially around product launches because they want to get them to market as fast as possible. [The regulatory environment does require] more expertise and rigor than ever before around being compliant. That has to be handled in some form or fashion, and we believe companies will continue to outsource that step.

BTN: Regarding the meetings market in general, 2015 was a banner year for business. Do you see the same for 2016?

Graf: We have a very positive outlook for 2016 and into 2017. As BCD M&E, we're in Year 2 of a strategic three-year plan. We're going to continue to invest in talent and technologies but more importantly in acquisitions that address customer needs. That could be for geographic location or new or enhanced product lines.

We obviously do all kinds of meetings and events and incentives, product launches and strategic programs. We do a lot around sports hospitality and entertainment, as well. In the next two years, we will look to further enhance those verticals in our portfolio.

We're investing more on the sales and marketing side to let people know how good we are at what we do. We've often had this kind of understated elegance and relied on other people to tell each other how good we are. We've done well with that, but we're at a point where we can aggressively pursue new markets and new product lines.