The Bad with the Good
Chris Brown
Helping build and grow next-gen communities and events through innovation | Strategic advisor and consultant | C-level Executive | Experienced Event Professional
Events have roared back with a vengeance coming out of Covid, forward momentum is good . . . but, there is evidence that we are not delivering for our core customers on some of their most important objectives.
The Freeman 2nd Quarter Industry Trends report has been released and there is a fair bit of good news in it, but there are also a few yellow - if not red - flags.
The chief cautionary note is that trade shows are not doing a particularly good job delivering new prospects to their exhibitors; and this is generally their top priority. This is not news to show organizers as we have long known that this is a critical objective we have to serve. Here is the data:
And the link to the full report.
Would love to hear comments from organizers on what they are doing to meet the needs of their exhibitors in delivering new prospects.
Recommended by LinkedIn
It seems to me we have to dig in deep with our exhibitor customers to get a handle on why we are missing here. Part of it could be that we just need to understand exactly what they mean when they say, "bring me new." What business types? What job functions? We need to know the specifics. And sometimes this is tough to come by . . . partly because -- if we are honest -- we have not built enough trust with our customers. When we ask for more information they are vague or even reluctant to share. So, building more trusting relationships with our exhibitors is key. Knowing the right questions to ask is key as well. We need to become trusted partners, and get to the point where they understand that our success is tied together.
A couple of other interesting takeaways from the report:
(Kudos to Ken Holsinger and the Freeman Research Team. These studies provide great context for the major trends running through the show business. Thanks)
CEO | Public Speaker & MC | Non-Executive Director
1yI had a great time being an NAB Innovation tour guide back in 2018 (I think!) with Daniel H. . A simple idea with a great group of buyers that really added value to their experience at the show. It brings back many happy memories 😊
Exhibition Conference Events Senior Executive. Entrepreneurial Expertise in Development Management Sales M&A Education
1yHi Chris- I think that for mature tradeshows, the concept of new prospects, certainly in terms of corporations, not individuals, is a red-herring or Gordian Knot. If a show delivers a good audience; including bellwethers, with the exception of tech shows),"new prospects” especially in terms of major buyers, is an elusive target. Think of NAB. How many new firms enter the market every year. Certainly exhibitors will ask for new prospects. (They may also hit the slot machines after the show) If nothing else, it keeps show mgt. honest. I believe major exhibitors know more about the industry’s key prospects than show mgt. They contact them daily, and maintain detailed databases about these firms and key personnel. It’s analogous to show mgt focus on exhibit prospects. One way to address this is managing expectations: under, or perhaps “realistic” promising and over-delivering. In the most diplomatic way possible; explain that you deliver X% of the known buying universe. Show the attendee list (at least by firm) and ask “who is missing that you like to see.” If the results are what I expect, I believe you may get some smiles of agreement, and actually elevate the status of the show and importance of exhibiting there. Have a great T-Day
Retirement gig as President at Shir Hadash Reconstructionist Synagogue
1yChris, my last few years before retirement were spent producing hosted buyer events after many years in trade shows. Trade shows are really good at the beginner, intermediate and advanced categories below. Hosted buyer excels in the Master category. This is copied from Julius Solaris: I’ve built many events from the ground up and worked with as many event founders. I noticed some common phases. Of course, there are many variables, but I’ve run into these steps as a planner, commentator, and advisor to my clients. → Beginner: Let’s find a venue. In very basic event programs, the venue is the most significant cost, and it drives most decisions. There is no real team, and decisions are driven by impulse. → Intermediate: Let’s find sponsors. You understand better what’s required to run an event, and you want to expand and build a sustainable business. → Advanced: Let’s impress them with our speakers. You start caring about your attendees' experience and select speakers who can raise the profile of your event. → Master: Let’s connect people. You understand that connection drives attendance. You focus on connecting attendees. Community is your ultimate goal. What makes you a master event planner?