How Far Have You Extended Your Event Brand?

amazon-imageNow that it looks like Amazon will start opening its own brick-and-mortar convenience stores next year, does anybody remember how it got its start?

As the first online book store in 1994. And for many years, that’s all it was. Even then, it took well over a decade before it became the kind of technology disruptor that would destroy most of the book store chains once in existence.

Today, of course, it offers much more. It was one of the first companies to make cloud computing accessible to large numbers of small companies and now has its own branded apparel labels, snack foods, consumer electronics, television shows and movies.

But, as is clear with the news about the Amazon-branded convenience stores, it is taking another step with this next phase, moving beyond online retailing back – in a way – to an earlier era of retailing that involves personalized, face-to-face customer service with live employees in its own stores.

By the way, in case you missed it, a year ago Amazon opened a … wait for it … brick-and-mortar book store near the University of Washington in Seattle.

So, it has come full circle, from offering an alternative to the traditional book store, to practically destroying that entire business model, to a new version of the old-fashioned book store down the street.

It’s not that Amazon has any deep passion for books either. It’s because Jeff Bezos is always looking for the next opportunity to extend the Amazon brand; this time, it just happens to be back to the past.

Let’s say you started out with a single tradeshow in 1994 and, even though you might not have known what you were talking about, you called it a brand. Twenty-two years later, how far have you extended that event brand?

There are ways to do it, starting today.

Jeff Bezos is no smarter than you and, if he can do it, so can you. Besides, if you don’t extend your event brand, and fast, somebody else will read this and do it for you – and make it their brand.

Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com.

Is Digital Still the Biggest Threat to the Old-Fashioned Trade Show?

facebook-imageYou event organizers out there, tell me you didn’t gloat a little when you say the news that Facebook had overestimated the time people looked at video ads by as much as 80 percent.

Tell me you didn’t send a link of that story to your anchor exhibitors who told you they were cutting back on your show to devote more of their marketing budget to digital because they could MEASURE THE RESULTS!

When Grant Leech, vice president of brand management for U.S. Cellular talked to the Wall Street Journal, he asked rhetorically, “Are we getting real value for what we are buying?”

Which is exactly what your customers are asking you, right? Remember ROI?

But don’t get too giddy too fast. Digital marketing is a $149 billion business and is not going anywhere.

This, however, is evidence there are chinks in its armor and room for you – if you can demonstrate that you can deliver leads in a way digital can’t.

The lack of promised data on results is what has marketers upset about digital. That means to compete you need to make sure you can provide that data to your customers that tells them your event can deliver the buyers they’re looking for.

Get busy making the case – with facts and figures – that you have what your exhibitors are looking for.

Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com.

Why Informa Wants Penton

informa-imageNews of a big acquisition – like the one last week in which Informa acquired Penton for $1.56 billion – makes everybody in the events industry feel a little bit better.

It’s life-affirming. Even if you run the smallest little annual industry association show in the smallest state, a big deal makes you say to yourself, “See, we are worth something.”

However, at the risk of sounding cynical, the quality of Penton’s event portfolio – high though it is – had nothing to do with it.

Despite comments otherwise in Informa’s official announcement, this acquisition was all about Brexit, the immediate drop in the value of the pound following the voters’ decision that the United Kingdom remove itself from the European Union, and the benefits that now will come from converting dollars into pounds.

Although we’re tempted to draw parallels between the Informa-Penton deal and UBM’s acquisition of Advanstar Communications two years ago, it might be wiser to look at how similar it is to Micro Focus’s $8.8 billion takeover of Hewlett Packard’s software assets earlier this month.

The great value of events like Natural Products Expo, Farm Progress, World of Concrete and Waste Expo notwithstanding, it is significant to note that once the deal closes, half of Informa’s revenue will come from the U.S. Add in all its other foreign interests, and only 10 percent of its revenue will be generated in the United Kingdom. Its U.S. operations will be five times as large as those in the U.K. and represent a quarter of its market value.

This acquisition is just the latest in a long-term – as it turns out, quite wise – initiative Informa has to shift the balance away from its home base in the U.K. Remember, this isn’t just the company that bought Hanley Wood’s event business in 2014. It’s also the one that acquired Virgo the same year, Dwell on Design a year later and Light Reading earlier this year.

Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com.