The year 2022 began with high hopes for the events industry. Pandemic management is progressing, employees working remotely are returning to the office, and it was thought that the industry would be able to thrive once more.
This has occurred to some extent, particularly in the music business. Many organisers, on the other hand, are still struggling to reach significant numbers and wonder if they will be forced to work with ‘post-Covid’ numbers for the foreseeable future.
This is no longer the case, not only because of the uncertainty caused by Covid but also because of how the pandemic has changed people’s attitudes and the way they enjoy entertainment.
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The event renaissance: adjusting to change
Figures for the first quarter of 2022 appear to confirm a trend of objective decline in attendance, particularly for big events. Many well-known festivals have seen attendance drop by up to 20%.
As a result, the goal of the events industry is to completely reprogram the user experience, while also considering the added value of new digital resources discovered thanks to the booming virtual event industry. These resources will continue to be vital because they have changed people’s lives and the general public simply does not want to give them up.
So, how do you navigate the industry in these difficult times? Here are some pointers to help you plan a successful event. The first step is to redefine success itself, assessing it in terms of quality rather than quantity. Instead of getting excited about large numbers or depressed about small ones, look at the actual leads generated after the event. More successfully booked and concluded meetings with a smaller total number of participants will be worth much more than a large crowd that does not translate into business success at the end of the show.
Furthermore, a key question to recalibrate your event strategy should be “are there experiences that can not be recreated virtually?”. Virtual events, as well as the digital reorganisation of business meetings and conferences, have made people appreciate the convenience of time- and money-saving solutions.
This is what we mean when we talk about a completely new attitude that has led many people today to refuse to give up this type of acquired advantage. As a result, physical events must provide attendees with something that they will not be able to find elsewhere. That is to say, a one-of-a-kind experience in which the relaxation and enjoyment provided can only be felt in person.
From a once-a-year event to a year-round community
Another change is that we are gradually moving away from the concept of large annual trade shows and toward projects that spread out through the entire year.
Previously, the organisers’ goal was to focus all resources on a single event, but it is now becoming clear that it makes more sense to invest in a permanent community.
Reducing the opportunities for networking, training, and sales to a single event entails, first and foremost, taking a significant risk if the outcome is unsatisfactory. It also means missing out on opportunities that could become consistent and, as a result, objectively more profitable.
Alternatively, a big annual event can serve as the culmination of the process of forming a stable community, with participants who are already engaged and interested. To accomplish this, the sales staff will need to retrain themselves and interact with partners and exhibitors with a new mindset that focuses on professional network expansion not only during the event but also before and after it.
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