The lesson may be
that there is plenty of value in events…but it must be tapped.
Private equity player Blackstone recently paid nearly $780 million for UK-based for-profit Clarion Events. Ten years ago, Veronis Suhler Stevenson bought Clarion for $155 million, then Providence Equity Partners paid $260 million for it two years ago.
Granted, competition in the private equity world is driving multiples up as they continue to take on investors who want to see their money put to work, but there’s a reason why Blackstone, with close to half a billion dollars under management, chose an event company.
What’s the reason?
The tide may be turning in the digital assault on the marketing world. While CMOs still like to say they “measure” impact, Ad News recently pointed out that a 2-second view of a video on social media counts as a charge in the same way that a 30-second view of a traditional TV commercial does.
So, measure that.
Exhibit sales people – at least in the for-profit world – know this dirty little secret about social media marketing use it as ammunition.
What do exhibit sales people in the association world know?
That their members are unhappy. That their show floors are shrinking.
That their association boards lack the vision necessary to move their business models into the 21st century.
That they can deliver the content and the networking opportunities that their members and industry associates want…if only their leadership was as nimble as that in the for-profit world.
That they could enhance their events’ value to their association members five times over within 10 years, just as Clarion Events did for its investors.
Michael Hart is a conference content professional and business consultant who focuses on the events industry. He can be reached at firstname.lastname@example.org or 323-441-9654.