“What gets measured, gets managed,” is a phrase coined by management guru Peter Drucker. For annual conferences, this is best accomplished by identifying and adopting a combination of leading and lagging performance measures. Not all metrics can give you the insights you need right now. Lagging indicators look at the past — the end results … [Read more…]
Event organizers are feeling the pinch as industry suppliers, venues and transportation companies rebound from the pandemic. Travel costs are rising due to strong demand (led by the leisure sector). Following are considerations gathered from industry media, meetings market surveys and anecdotal reports from Velvet Chainsaw Consulting clients. Event venues are raising rates for basic … [Read more…]
With live conferences’ comeback, event organizers need to make complex decisions about how to incorporate digital product extensions into their business model. Based on our research, we estimate that there’s an even split between conference owners who are including synchronous or asynchronous hybrid options and those who aren’t. The half who is pursuing hybrid knows … [Read more…]
In my experience, most large conferences this year are realizing about 80 percent of their 2019 revenue performance. For some of the major annual meetings we’re tracking, sponsorship revenue has been a bright spot when compared to exhibit revenue performance. The textbook outcome of a successful sponsorship is improved attitudes and behavior for that brand. … [Read more…]
Before March of 2020, pacing data was a useful tool for predicting final attendance and revenue. If you were pacing behind, you could make midcourse corrections. As we come out of the pandemic, we need a different playbook to drive attendance and earlier commitment. Use these five tips to develop a plan for optimizing registration … [Read more…]
Our crystal balls are pretty foggy when it comes to predicting the return of in-person expo and sponsor revenue. Three of the big questions are: With the advancement of digital demos, will exhibitors opt for smaller booth spaces? If marketing budgets intended for show participation in 2020 or 2021 were reallocated, or not spent, will … [Read more…]
With many organizations actively planning for an upcoming in-person conference or tradeshow, now is the time to make firm decisions for your attendee-experience, staffing and safety plans. We recently held a webinar featuring leaders from two large associations that have held face-to-face events in recent weeks. Here are five of the top take-aways that can … [Read more…]
For well over a year, we’ve consulted with dozens of associations on their go/no-go event strategies. One of our early — and still applicable — recommendations was for conference organizers to communicate and publish the date when they expect to make the decision for their in-person conference. Over the summer and the fall of 2020, … [Read more…]
Our clients and leading industry associations (for example, PCMA’s latest glimpse or our industry’s future, the business recovery dashboard) are turning their attention to future hybrid and face-to-face (f2f) events. While everyone keeps saying that hybrid is here to stay, most association event pros have limited bandwidth and budget to plan and execute robust in-person … [Read more…]
We recently convened a roundtable of senior-level conference organizers to discuss risk tolerance and the forces that are shaping their 2021/22 event strategies and decisions. Three primary risk categories are emerging as organizations weigh their options for major conferences in 2021: Mitigating financial risk Member considerations and communications Health, safety and duty of care Mitigating … [Read more…]
