Does Event Size Still Matter?

Cathy Breden of IAEE “took me to the woodshed” because of my recent comments on the accuracy of the CEIR Index.

So be it. I can take criticism, I welcome contrary views, and I ordinarily would not even revisit the issue.

However, I want to reiterate that the ultimate point of that blog post was not the challenges that CEIR faces with its Index, but the reluctance of the events industry to share accurate information…with anybody. The fact that there are perceived problems with the CEIR Index is just one symptom of an industry-wide conundrum.

With the opportunities provided today by data analytics, it is so much easier for show organizers to make the case for themselves with potential attendees, sponsors and exhibitors. And the opportunities have little to do with who has the biggest showfloor, the most attendees or even the most revenue.

They have to do with whether a particular event is the one that will benefit a specific attendee or exhibitor.

Does size matter in the events industry? Is it really important to have more square feet of exhibit space or more attendees than any other trade show in your industry sector?

Probably not.

The events industry has changed drastically in recent years. Those metrics, still in favor by many, were significant in an age when the value of a product was directly proportional to its size. Trade shows were where people went to sell big things – machines, tractors, giant servers, furniture, etc. – and the more space you took up, the more effective you were at selling those things.

Things of value today…not so big. In fact, there are products of great value that have almost no physical presence at all! At best, those trying to pitch them can use their trade show booth to demonstrate something that nobody can see or hold in their hands.

Those old metrics also stem from a time when the trade show floor was – and stop me if you’ve heard this one before – the best place for buyers and sellers to connect.

It is no longer the “best” place in every case. People with stories to tell and products to sell have many, many ways to communicate with potential audiences. The event is just one of many marketing channels available to them.

The opportunities for engagement and community are what makes an event valuable today, not the size of its exhibit hall or the number of people in the aisles.

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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Are Tech Vendors Taking Over the Events Industry?We’re moving into the last days of February, which means we are finally moving out of the phase in which we read lots of articles and blog posts titled something along the lines of “X Number of Things That Will Rock the Events Industry in 2017.”

We’re moving into the last days of February, which means we are finally moving out of the phase in which we read lots of articles and blog posts titled something along the lines of “X Number of Things That Will Rock the Events Industry in 2017.”

Don’t get me wrong: I’ve written my share of these stories myself over the years. Unfortunately, this year I feel like I saw a disproportionate number of articles clearly written by somebody with one technology or the other to pitch. This “trend” may have reached the tipping point for me earlier this week when I read a blog post pointing out why live streaming would improve live participation in events…right after reading one that said it would not.

I’m as much in favor of using technology to enhance the experience of attendees and, yes, help us make more money as anybody. But the growing penetration of technology into the events industry cannot be driven by the technology vendors.

There is no longer a one-size-fits-all tradeshow or convention. Each organization, industry and community has a different reason for meeting.

Using the example of live streaming as just one example – because it’s fresh in my mind – widespread live streaming makes perfect sense for the new, improved E3 or a Comic-Con type event because one of the goals with these kinds of events is to act as a vehicle to communicate messages or sell products to audiences beyond the venue.

However, there are other events that still rely on a certain sense of exclusivity, that produce valuable content that can be repackaged and resold in another form – like live streaming.

The larger business world that the events industry serves is undergoing constant transformation, and each event organizer must be aware of what is happening in their little universe and why.

Witness the recent effort by Kraft Heinz to acquire Unilever, the shifts in the consumer packaged goods market that motivated the effort, and then the sudden decision to back out.

Just imagine the mood changes event organizers in the food retailing space went through for a day or two there, and how they’re still filled with anxiety about what’s next for them and their shows.

Event organizers everywhere today must find the most creative solutions possible to maintain relevant to their audiences. And silly articles about how a particular technology will or will not serve them don’t help much.

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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With Globalization Era Ending, U.S. Event Organizers Have Their Work Cut Out

blog-imageIf a politician once famously said, “All politics are local,” 2017 might be the year we start saying, “All tradeshows are local too.”

For more than a decade, smart U.S. tradeshow organizers were forming joint ventures with organizers in Europe, Asia and Latin America. They were investing in exhibitions companies all over the world and the largest trade events in Shanghai, Hannover and Rio de Janeiro had huge U.S. pavilions.

If the globalization of the tradeshow industry has not come to an abrupt halt, it is beginning to fade into the distant past as corporate exhibitors try to make up for declines in their international sales by reintroducing themselves to domestic buyers.

A few things have happened that just about everybody knows about:

  • The World Trade Organization says global trade will grow at its slowest rate this year since 2007.
  • Global Trade Alert counts 338 trade protection actions by governments around the world this year, up from 61 in the same period in 2009.
  • China’s gross domestic product has waned, along with its need for commodities and equipment.
  • Finally, regardless of who is the next U.S. president, it looks like there will be no Trans Pacific Partnership Agreement and, whether the American public understands the implications or not, fewer and fewer trade treaties with other countries.

In other words, global commerce is slowing down, at least for a while. Companies in every country – not just the U.S. – seem to be battening down the hatches for…what?

That’s not clear, but, if you are a tradeshow organizer who serves a market that’s global reach is shrinking, you’ve got to think fast.

Remember what I wrote a few paragraphs earlier: Corporate exhibitors must try to make up for declines in their international sales by reintroducing themselves to their domestic buyers.

Now is the time to remind those exhibitors of how many buyers you can draw within a single day’s drive of your event. Now it the time to reinforce for them via content marketing the value of the domestic industry your show serves. And now is the time to tell the once-regular attendees who haven’t been around for a few years that you want them back.

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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