Events Done the Nordstrom Way

For years, consultants have asked organizers about their events, “Do exhibitors buy space at your show because they want to take orders from customers, or because they feel “they have to be there”?

Today, many perceptive organizers would say, “Neither.”

Now, the booth on the showfloor is rarely the first point of contact between a buyer and seller. It has never been the last, and that is even more the case recently because of the habits we are picking up as consumers.

Why, attendees are asking, should the experience I have when I buy something for myself be that different from the experience I have when I make a purchase for my company? Consumer retailing is leading the way when it comes to how marketers use events.

Look at what Nordstrom – legendary for its customer service, known as the Nordstrom Way – is doing with the store it opened Oct. 3 in West Hollywood, Calif. Called Nordstrom Local, it takes up about 3,000 square feet, much smaller than more traditional Nordstrom department stores that span closer to 140,000 sq. ft.

It has plenty of dressing rooms, but very little inventory on display. Personal stylists are onsite to help shoppers digitally create their own unique “look.” Orders are delivered to customers’ homes later in the day. They can return them any time to the brick-and-mortar store, or they can come back to meet with tailors who will be available to make alterations.

While at Nordstrom Local, shoppers can enjoy a glass of wine or a cup of espresso at the in-store bar.

A recent study on brand experience by Freeman demonstrates that, just as retailers are changing the ways they connect with customers, companies are looking to events to accomplish different goals as well.

Freeman’s report concludes the events that can offer sponsors and exhibitors brand experiences are more valuable than traditional buyer-meets-seller events.

After interviewing more than 1,000 marketing executives around the world, the study found that 58 percent of chief marketing officers look to events to increase their advocacy. In other words, they’re looking to meet influencers who can spread the word on their brand. Just under half of CMOs (48 percent) said they want to use events to demonstrate thought leadership.

Selling products on a showfloor, it would seem, is so very 1995-ish.

This is not to suggest that the conventional trade show turn itself into the equivalent of a trendy Southern California boutique. But it is clear that exhibitors and attendees expect more than they did 20 years ago.

How much are you prepared to disrupt your event to accommodate them?

Michael Hart is an event consultant and conference content professional. He can be reached at michaelhart@michaelgenehart.com, @michaelgenehart or 323-441-9654.

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SSmall Event Organizer, Meet the Micro-Influencer

If you’re the organizer of a 50- or 60-booth trade show, what do you say when an exhibitor asks you what kind of media attention you’ll be able to get them?

Typically, there’s a lot of clearing the throat and changing the subject. After all, this is not International Comic-Con you’re running here.

You don’t have the star power to attract the attention of television and newspaper reporters. There will be no reality TV stars making show floor appearances. You don’t have anything a blogger would want to write about.

Or do you?

It’s true that the digital age of marketing has given rise to the celebrity blogger, the person who wanders around the world writing about what he or she observes for millions of faithful readers.

But the evolution of social media, with its infinite diversity, has introduced us to the “micro-influencer,” the blogger who has earned the trust of a small but passionate audience, the writer who can draw that audience’s attention to your event, and who would be flattered by an invitation.

Here’s what micro-influencers can offer even the smallest event and what they can do to deliver your event’s message to a further-flung audience.

First, engagement. Studies – and common sense — tell us that as a blogger’s number of followers rises, the likes and comments, the number of people paying close attention to what they’re writing, diminishes.

On the other hand, the micro-influencer of a smaller niche audience is “just like one of us,” can make a deeper personal connection and engage in a conversation with his or her followers, not just make readers aware of a brand.

Second, authenticity. Readers know when a message is insincere and are quick to reject it. The micro-influencer, who is on the ground writing, has that authentic voice. He or she is “just like one of us” and their insights can be trusted.

Third, affordability! How much would it cost you to get a celebrity or a high-profile speaker that you hope would draw some media attention to your show? And how many free passes to the show could you give to micro-influencers for the same amount of money?

Fine, you say, but where do these micro-influencers come from?

Look at your own social media activity. Who’s following you closely and frequently posting insightful comments?

In your own social media messages, use hashtags and keywords related to your industry. If you run a plastics show, for instance, try “#plasticsblogger” or “#plasticsgeek.” See who you hear from.

Roam around Google and look for the niche bloggers who are covering your show’s field of interest and your exhibiting companies.

Finally, there are influence-marketing tools and blogger networks out there. I’ll leave it to you to find the most responsible vendors you know to find them.

We all know digital tools can enhance events. We also know some of the technology with the greatest “wow” factor is not accessible to the smallest of shows.

But that doesn’t mean you can’t find a way to, here and there, take advantage of the ever-changing digital age.

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How a Total Eclipse May Have Helped Make Total Store Expo a Success

The National Assn. of Chain Drug Stores shares a few major challenges with other trade associations serving consumer-facing industries: technologies disrupting the traditional brick-and-mortar store model, consolidation and fast-changing consumer preferences.

To say the least, as one trade association executive told me recently, “Our members are grouchy.”

And, when it comes to NACDS’s annual event, apparently getting grouchier. I compared attendance figures reported last year to TSNN on the Total Store Expo with similar figures reported by NACSD to Tradeshow Week eight years earlier: Attendance has declined by two-thirds, from a reported 4,129 in 2008 to 1,336 last year.

Attendance totals for this year’s Total Store Expo, of course, are still to be announced.

Nevertheless, it’s clear that the poor Total Store Expo is suffering the same fate as other association events: The perception it is less and less relevant in meeting the needs of its attendees and members.

One saving grace this year though: NACDS got lucky when it came to the idea that a productive event should create the all-important opportunity for attendees to engage with one another. An unintended (I think) addition to the conference schedule was a total eclipse of the sun, at least some of which could be viewed from San Diego.

Bright and early on the third morning of the annual event, attendees poured out of the San Diego Convention Center in their eclipse-friendly sunglasses to watch the once-in-a-lifetime event unfold in front of them over San Diego Bay.

My guess is there was as much chatter there on the sidewalk by the bay for a few minutes as there had been during all the hours the show floor was opened.

Who knows? Maybe a few new business partnerships were started amidst the chatter.

In a world in which creating opportunities for event attendees to engage with one another is the most important priority, sometimes an event organizer just gets lucky.

Michael Hart is an event consultant and conference content professional. He can be reached at michaelhart@michaelgenehart.com, @michaelgenehart or 323-441-9654.

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Why Should Event Organizers Read Corporate Quarterly Reports?

Because these days it’s all good news for them — if they understand and take advantage of it.

With nearly three-quarters of U.S. corporations having now released their second-quarter results, it’s clear that business investment is likely to increase in almost every sector — with the possible exception of energy and utilities — at a rate not seen since before the recession of 10 years ago.

Despite the political paralysis in Washington, D.C., and the deferred dreams of tax restructuring and infrastructure improvements, gross domestic product jumped 2.6 percent in the second quarter, compared with 1.2 percent in the first quarter.

Thomson Reuters states corporate sales are up 5 percent in the quarter, earnings are up 11 percent and U.S. companies experienced double-digit growth in two consecutive quarters for the first time in six years.

Why should that matter to the exhibit salesperson who is so absorbed in his or her own industry and trying desperately to meet those sales goals with the event date looming?

Because that increased business investment will quickly turn into new products and services that have to be marketed.

Now is the time to cement relationships with existing or potential exhibitors and sponsors — before your digital competitors do.

Now is the time to reveal the data you have that makes your event the superior marketing channel.

Michael Hart is a conference content professional and event industry consultant. He can be reached at michaelhart@michaelgenehart.com, @michaelgenehart  or 323-441-9654.

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How Events Can Beat Digital Competitors at Their Own Game

You don’t need me to tell you how frustrating it is to have a potential exhibitor tell you they’re putting more of their marketing budget into digital channels and less into events – therefore, “Check with me next year.”
Nevertheless, we all know even a mediocre event can give marketers a few things they will never be able to get from the Googles, LinkedIns, Facebooks and Amazons of the world. Where we have failed is in communicating that value proposition.
Certainly, the ground has shifted over the last 15 or so years. In his July 15 Wall Street Journal article, Jonathan Taplin traces the path some of the mega-tech companies have taken over the past decade and a half and compares it to the paths our best-known creative industries have taken.
Google’s ad revenue has grown from $1.6 billion in 2000 to $79.4 billion last year.
LinkedIn hasn’t been around as long and is not nearly the monster Google is. But it went at lightning speed from generating $155 million in all of 2011 to $975 million in the first quarter of this year (coincidentally, its first full quarter as a Microsoft property).
Conversely, newspaper ad revenue dropped from $65.8 billion in 2000 to $23.6 billion in 2013, the last year figures were available. Sales of recorded music went from approximately $20 billion a year in 2000 to $8 billion last year.
What is the difference between these rising and falling industries?
Google and LinkedIn are technology platforms that collect and sell data. Newspapers and recording companies provide content. If balance sheets send messages, this one is simple: The platform providers, not the content providers, are making the money.
So what can you do to take advantage of this disruption? Make sure your exhibitors know you can provide the buyers they’re looking for in a way that a data-collecting platform can’t. Then secure those buyers by offering them content so compelling buyers-slash-attendees know your event is the only place this year they are going to get everything they need to run their businesses.
Tell everybody this is where they need to be for the latest information on their industry, the products and services they need right now to innovate their businesses, and the connections they must make to be successful.
Don’t be a platform! Be a community builder and content provider…then watch the rest unfold.
Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com or 323-394-0902.

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This Is What Keeps Trade Show Organizers Up at Night

We know the trade show industry is in great shape because CEIR and the trade show media keeps telling us it is, right?

According to CEIR, the first quarter of 2017 was up 1.6 percent over the same quarter a year ago. Revenue was up even more: 2.3 percent. And almost every week, our industry oracles reprint press releases telling us of another show that broke all previous records.

So why are you so nervous?

Is it because your traditional measurement tools no longer work? Is it because the sponsorship contracts and attendee registrations you used to expect six months out or two months out, or even two weeks out, are no longer there?

Many of you are reaching your attendance or revenue goals – eventually – but why does it seem so much harder than it used to? Why is it that you now only can relax on the last day of your event, take a deep sigh and say, “That was a close one”?

Before I started working with event organizers, I spent many years as a newspaper editor. Whenever we blew a deadline, it was almost always clear to me that it wasn’t because of something that happened in that last hour or two before a paper was supposed to go to press. It was because of something that did NOT happen 24 hours earlier.

Potential sponsors and, especially, potential attendees, have the luxury of time in a way they never have had before. They can wait until the last minute to decide whether they’ll participate in your show.

That doesn’t mean they aren’t paying attention to what you’re doing in the meantime. What you do six months or even 10 months out matters more now than it ever did, even though you don’t have the tangible proof that it does.

Potential attendees are looking at your site to see who your keynote speakers are – so you better have them in place early. They are looking to see who is going to be in the exhibit hall that they want to see.

And, as developments change the focus in their industry, they’re checking back to see if you’ll be there in two months or, sometimes, in two weeks, to explain it all to them.

You know there is an urgent need for your community to be at your event. Now tell your community that – and learn to live with those sleepless nights.

Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com or 323-394-0902.

 

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Why the Amazon-Whole Foods Hookup Doesn’t Bother the Smartest Event Organizers

News at the end of last week concerning the acquisition of Whole Foods by Amazon struck fear in the hearts of some trade show organizers. At least it did for those who have lived through the pain of industry consolidation before.

The theory is that, as big companies gobble up slightly less big companies, there are fewer and fewer exhibitors on the showfloor.

Indeed, it does seem like there are now two big companies – Amazon and Walmart – who are fighting tooth and nail for the opportunity to sell everything to everybody. What makes it interesting to watch is the fact that, while Walmart has worked hard and made enormous investments to move online, Amazon is now trying just as hard to be an online vendor in search of a piece of the brick-and-mortar market.

The conventional wisdom for obsessive show organizers is that big companies like this don’t need a trade show to look for products and services to sell: The one-time exhibitors will go straight to Walmart or Amazon instead. It is true that plenty of vendors are camped out in Bentonville, Ark., but I have indeed seen attendees at trade shows with the name “Walmart” on their badges.

With just the shows I have personal experience with, I’m thinking of events like Natural Products Expo, American International Toy Fair and ABC Kids Expo. All these are shows that make room on the floor for innovations in their industries and for start-ups with new products.

Go to Natural Products Expo on a regular basis and, with every visit, you’ll see a new trend in natural foods nobody had ever heard of the year before. The same with toys at International Toy Fair. This is where the Walmarts and Amazons of the world go to find out everything they don’t already know.

And what about the entrepreneurs who are constantly sussing out the latest technology or overnight phenomenon and building a show launch out of it, providing a platform for companies nobody knew existed. Remember a couple years ago when you heard about the first trade show focused on drones? Or how about a few years earlier, when International CES introduced the Internet of Things to the world, and I discovered a handful of smart event organizers had been launching conferences on the topic for years?

As global commerce continues to consolidate, there will be less and less room for lazy event organizers, and more and more opportunities for fast-thinking entrepreneurs.

Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com or 323-394-0902.

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2 Ways Event Organizers Can Outperform GDP

The recent CEIR Index report on 2016 exhibition industry report was…meh.

The overall tradeshow industry growth for the year was 1.2 percent, down from 2.3 percent the year before. Gross domestic product growth for 2016, on the other hand, was 1.6 percent. The most discouraging analysis of this indicates it has been more than a decade since the factors measured by the CEIR Index routinely outperformed GDP. Meanwhile, marketing channels that directly compete with events continue to enter the arena.

CEIR economists predict stronger growth for the CEIR Index this year (2.5 percent) and even stronger growth in 2019 (2.8 percent). Their explanation is that they anticipate tradeshows in the heavy equipment and raw materials sectors will pick up – although I’m not sure I understand why they would.

At some point, event organizers will have to understand they are on their own when it comes to competing with digital marketing channels and they must offer both buyers and sellers something different than in the past – and many organizers are catching on.

The first element, for attendees, is engagement. Face it – if you haven’t already – your show is no longer the one place in the world where the industry professionals you serve can get information they need to do their jobs or news about new products. That’s what the Internet is for.

What the Internet cannot offer them is the ability to engage with each other in a meaningful way. The first time several years ago I saw a B-to-B event create a time slot for roundtables where attendees could sit down wherever they want and talk to each other, it sounded like a waste of time in a valuable event schedule. Who would just sit down and talk to a stranger?

And yet today you would be hard-pressed to find an organizer who’s thinking about the future of their show who doesn’t include a space for these roundtable discussions in their event.

The second element, for exhibitors, is more data on who is coming to your event. With enhanced data analytics, choosing a marketing channel to communicate with potential buyers is increasingly being commoditized. Marketers have the means to use numbers to find the most effective way to reach the people they want to communicate with.

So, do your part. Give them the attendee information you have; collect more of it if you need to; and make sure exhibitors and sponsors understand they can count on you to deliver to them the leads they want.

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

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Abandon the ‘Old Think’ in Attendee Marketing

In his CEIR blog post earlier this week, “At Last Penny-Pitching Catches Up With Association Organizers,” Bob James notes that event marketers on the for-profit side of the industry seem to know a few tricks their peers on the association side have not caught on to yet.

You can look at Bob’s post yourself for specifics, but he attributes the fact that the typical association has unique problems with event attendance to “old think” beliefs about why people go to the trouble of traveling to a show or conference: The associations are still counting on member loyalty.

Association members are true believers, they think, who wouldn’t dare miss their industry’s most important event of the year.

We live in an era in which consumers not only can scan a website to get the best price on just about anything, they can choose from multiple websites to do their scanning!

Value and convenience trump loyalty, and you deny that fact at your own peril.

You must make the case every single year that your event is the one place that a person can go to:

  • Get the information they need to improve their bottom line or boost their career – right now.
  • Learn about the newest products and services that will make the difference to their company.
  • Meet the people that will be their future partners.

I have said this before, but it bears repeating: If, at the conclusion of an event, an attendee can say, “I did not meet one person I didn’t already know or learn anything I hadn’t heard before,” they’re not coming back.

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

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Did You Extend Your Early-Bird Deadline Again?

Putting aside for a moment the symbolism associated with growth in the CEIR Index finally coming to an end after 25 quarters (all good things must pass), the fourth-quarter numbers for tradeshow performance indicate some of the phenomena I have seen with event organizers truly do represent a trend.
Here’s hoping it’s only a blip.
Certainly, over recent years we have all seen exhibitors signing up and attendees registering for events later and later.
It is a serious, sometimes frightening, problem that, I find, is not getting better. Either traditional early-bird programs no longer work, or potential exhibitors and attendees have learned that we will extend them or find some other way to give them discounts when they finally do sign on.
The evidence that this is more than just a here-and-there phenomenon is illustrated by the over-all decline in number of exhibitors (down 0.8 percent) and attendees (0.6 percent) in the fourth quarter of last year.
The reason this matters is also demonstrated in another number in the CEIR fourth-quarter index: a 1.8-percent decline in revenue. Cash flow is becoming an issue as event organizers work their way through event cycles as they always have (with bills coming due at the same time they always did) while the money to pay them comes in later and later.
The fact that net square footage was up in the fourth quarter (1.3 percent) could be because, in the face of exhibitors signing up later, organizers are giving them breaks in the form of additional space on the floor.
It is true that the economy seems to have solidified since the beginning of the year. While some of us remain suspicious about any “Trump bump” explanation to the rise of the stock market, other more substantial measures – GDP, low unemployment, steady inflation rates – indicate the economy is on firmer ground than it has been in 10 years.
If the 2017 first-quarter CEIR Index turns around, we’ll know that’s the case.
If it doesn’t, we must accept that giving away space on the showfloor and extending early-bird deadlines are not going to be enough to salvage our upcoming events. A more thoughtful remedy will be required for a deeper dilemma.
Michael Hart is a business consultant and writer who focuses on the events industry. He can be reached at michaelhart@michaelgenehart.com.

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