Randy Stratton is President of TSG Marketing, headquartered in Sioux Falls, SD, which he founded in 1992. As a seasoned conference and meeting planner, he has successfully weathered economic and industry changes that impacted not only the services his company offers but also the way TSG delivers them to the customers. Stratton shared how his rural South Dakota upbringing strengthened his resolve to guide a sought-after conference planning company for nearly 20 years.

Midwest Meetings: It takes certain personality traits to endure ownership and all of the associated responsibilities. Where did you find the confidence to start your own business and grow it into a company that today produces conferences internationally?
Randy Stratton: I had the pleasure of being raised by two strong parents on a Midwest farm.

Anyone who shares this same experience knows that in order for farmers to be successful, a lot of hard work and long hours are necessary. I also watched my parents confront and overcome obstacles. Seeing that they could go through those experiences and become stronger was great role modeling for me. So when I started my own company, I was prepared for the long hours and hard work. I also knew from the beginning that there would be challenges, and that I could muster the inner strength to endure them because I’d seen my parents successfully do it time and time again. It’s also helped that traveling and exploring has always been in my DNA.

MM: What is the biggest difference in your business model from when you founded the company to today?
RS: TSG Marketing started out as a marketing and public relations firm, and today, we have maintained our public relations and marketing services while adding an international event management group for vertical markets. The international component to the business also means hiring more independent contractors.

MM: Can you briefly explain "vertical markets" and share what markets you target?
RS: Sure. A vertical market is a group of similar businesses and customers that conduct trade around a specific business line, product, or service. Sometimes you might hear the word niche used to describe these markets. My company serves the biotechnology, wind and transmission, biofuels, finance and investment, renewable energy, and agricultural industries. I have a working history in many of these sectors and choose leading industries to serve.

MM: How many conferences a year does TSG Marketing plan and produce?
RS: It varies, but typically in the range of three to six. Our conference team is responsible for seeking and coordinating partnerships with international and state governments, business sponsors, tradeshow exhibitors, speakers, conference participants and event staff. This year we are reviewing and/or planning events for renewable energy, finance and investment forums, and wind leadership summits. We host these conferences in markets that naturally fit the business opportunities and the event sponsor or partner preferences.

MM: In 2010, you were able to host a wind summit in your home state of South Dakota. Explain the experience of meetings in the Midwest.
RS: The Midwest provides a hospitality that is unique and welcoming, and I was proud to showcase Brookings, SD at that conference. Planning locally can be easier, more convenient, and less costly. I could also comfortably provide a local flavor for that event to ensure participants not only learned but enjoyed showcasing our Midwest hospitality. 

MM: What are the key ingredients to a successful conference, regardless of location?
RS: I’ve learned through the years that the key ingredients are pretty standard. It doesn’t matter what type of conference or meeting is being planned. The keys are planning, organizing and establishing clear objectives, knowing the target audience and what they need to establish value, watching the event budget and costs closely, and adjusting those based on break-even scenarios. If one pays attention to these, the outcome will be successful. The best post-conference survey compliment our company has ever received by a meeting participant said, “This was an excellent conference with a variety of key speakers on relevant topics and it provided amenities not many conferences offer.” This feedback reinforced my understanding of successful conference planning.

MM: How has the meeting planning industry changed over time?
RS: As a 19-year veteran planner, I recognize - and have had to quickly adapt to - changes in the meeting and conference planning industry, especially in the past three to five years, as businesses and governments have not been exempt from economic challenges. Some of the most significant changes include companies having less discretionary funds for resort venues. Now there is also more emphasis on a return on investment (ROI) for sponsors, partners and my own company than there used to be. 

Another change I have seen is the use of more technology and online tools, like social media, webinars, and podcasts, before and during events. I believe all of these changes are good for participants because they get information early and determine interest and value for their company. These changes also allow for more networking and post-conference information via these online resources, which just adds more value for the companies and the participants.

MM: With belt-tightening and technology changes not going away anytime soon, what is your sense of the near future for your company?
RS: I am both confident and bullish on the months and years ahead in the meeting planning industry. At TSG Marketing, we are continuing to evaluate the marketplace for new opportunities and can rely on the markets and relationships we have built. My business idol is Warren Buffet, chairman of Berkshire Hathaway, and I share his philosophy of continuing to invest in the future through smart business decisions, key partnerships, and not giving up despite setbacks. 

MM: That vision should give meeting planners and those who own meeting planning companies a sense of confidence. What is your forecast for the future of the meeting planning industry?
RS: Clearly, the industry must be smarter, more cost-effective, and greener. Participants, sponsors, and partners are demanding more accountability and the availability of social media and other tools. As I have said before, meeting planners must show value and provide worthwhile experiences for all partners to remain relevant and be successful.

MM: What advice would you offer to those just starting out in this industry?
RS: Without hesitation, I’d advise novice planners to start at the bottom and be glad that they did because experience at every level of planning and hosting successful events is crucial. I would also recommend that they do not overlook the “small stuff” since those details are usually the most important. Finally, I’d tell them to put this quote from Calvin Coolidge someplace where it can be seen at all times: “Persistence and determination alone are omnipotent.”

MM: That’s a great quote for all planners, not just novice ones. What quote graces your office wall?
RS: To own a company as long as I have, one has to be competitive, and I have found the legendary former Green Bay Packers coach, Vince Lombardi, provides me inspiration and a smile with this quote: “If winning isn’t everything, why do they keep score?”

Linda Leier Thomason is a contributing author for Midwest Meetings. Want to get in touch? Contact Linda!