What is MICE (meetings, incentives, conferences, exhibitions)
MICE is an acronym for Meetings, Incentives, Conferences, and Exhibitions. MICE has a broad context depending on the industry and field that you’re going to use as a viewpoint. For example, in travel industry’s perspective, pertains to a specialized tourism niche solely dedicated to planning, booking, and organizing seminars, conferences, and other events that directly affect the travel industry. Meanwhile, if you’re going to define MICE using the event marketing’s perspective, MICE will deal more on the processes that event organizers need to consider to organize a live event that will drive higher sales.
But in its general context, MICE include all industries that conduct meetings, incentive (giving), conference, and exhibitions to sustain their operations. For years, the term ‘MICE Market’ was accepted worldwide until recent clamor to change the term to ‘Meetings Industry’ surfaced. According to reports, business moguls wanted to change the previous term to avoid the market to be associated with the house mice.
To help you understand the significance of MICE, we define each of its components below.
- Meeting. In a general context, a meeting is a term used to describe an event where several people gather to discuss a particular activity or topic. Meetings can be categorized as small and big gatherings. For big meetings, usual venues include convention centers, hotels, or conference halls. Meanwhile, small meetings can be conducted in regular size rooms.
- Incentive. This is a type of meeting event where rewards are given to deserving participants in the exchange of a commendable performance. Incentives, in the marketing perspective, may also refer to the bonus or perks you could get once you hit a particular threshold.
- Conference. A kind of participatory meeting usually conducted to discuss a particular topic, solve a problem, investigate facts, and as a means of consultation. Conference is very similar to Congress. However, conferences have more specific objectives and are done within a very limited period of time.
- Exhibition. Generally, exhibition refers to an organized display and presentation of selected products. Exhibitions (exhibits) are usually held as part of marketing events and cultural shows.
Indeed, M.I.C.E is significant for sharing knowledge, product, and service to the right audience. But aside from these, MICE also help boost the economy and the country as a whole.
Why Conducting MICE Events Are Important
MICE Market, popularly called now as Meetings Industry is significant in propelling the global economy for a number of reasons.
- Event Marketing. Event organizers would always hold MICE to ensure the success of an event. Meetings are crucial in the planning stage of organizing an event as this is the phase that all the details will be discussed. Aside from the program’s details, all the possible issues and problems that might surface will also be tackled during meetings.
- Tourism Industry. MICE also directly affect the local and international tourism industries. This is because when there are meetings or conferences, the attendees coming from various places will travel to the identified venue. The same will happen on the international scale, where participants of international confab influx to a particular country significantly increasing its tourists’ arrival.
- Academic Communities. Aside from event marketing and tourism, MICE also help academic communities. For example, local and international research conferences gather the best people in a particular field, including professionals, students, scientists, and other scholars. When these intellectuals get the chance to exchange ideas through MICE, the world will surely benefit from the outcome of their talks.
- Media Mileage. The right dissemination of information is crucial, especially for high-profile or sensitive topics. For you to effectively share reliable information with a multitude of people, you just have to conduct MICE. As you publish your press release, expect that the media will race just to attend your event.
- Foreign Relations. Although MICE is usually highlighted as a mechanism to boost the economy, this is also effective in establishing stronger ties with other countries. Meeting, Incentives, Conferences, and Exhibitions are great means to share information and spread common goals with dignitaries from other countries.
These are some of the reasons why MICE is essential not only in event marketing and tourism but also in building stronger ties with other countries. Always remember that the more people who’ll practice MICE, the more the benefits that the community, economy, and country gets.