Our Industry in 20 Years: Event Technology Predictions
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Our industry... in 20 years! Reston Herndon Meeting Planners Group July 2015 Trends and predictions in events, meetings, and hospitality
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Transcript of Our Industry in 20 Years: Event Technology Predictions
Our industry... in 20 years!
Reston Herndon Meeting Planners Group
July 2015
Trends and predictions in events, meetings, and hospitality
I am an eventgoer.
I am an event planner.
I am an event believer.
Just how big are meetings and events?
What You’re Going to Learn With Me
1.8 million meetings in the
U.S. per year for a total
direct spend of $280mm.
The U.S. meeting market is large.
The Economic Significance of Meetings to the U.S. Economy, CIC Study, PwC, 2012
What You’re Going to Learn With Me
● $565 bn in 2012, including
accommodation, transportation, and
support costs.
● Hotel revenue associated with meetings
and events is $103 bn.
The global meetings and events market is even larger.
Frost and Sullivan, “A Survey of Meeting and Event Planning Professionals and Hotel Operators,” June 2013
What You’re Going to Learn With Me
Frost and Sullivan, “A Survey of Meeting and Event Planning Professionals and Hotel Operators,” June 2013Special Events Magazine
Businesses spend money on events.
● Businesses spend 1% of revenue on meetings/events.
● 25% of corporate planners expect to plan more events this year.
● Millennials value events more than previous generations.
What You’re Going to Learn With Me
● Live Nation Concert Revenue was up 29% in Q1 of 2014.
● Google search for sport tickets up 32% from 2 years ago.
Consumers spend more money on events.
"Lifting the Curtain on Live Events," Think with Google, 2014Brookings Institute
Why do meetings and events matter?
● Meetings and events are a leading
indicator of the economy.
● Meetings and events precede leisure
travel.
● Their true economic significance is
immeasurable.
Meetings and events matter.
Predictions for 20 years
94,200 event planners in the U.S. in 2012
The number of event planners will continue to rise significantly.
Event planners will be more strategic than ever.
Event planning will be a more respected and common field.
3,000 universities80 offer meeting planning
Turn to a neighbor and discuss why these trends are important to you.
Comm.
Plan
Source
Strategize
Data
Purpose
TechnologyTech
nolog
yProject Mgt
Scheduling
Transportation
Housing
Surveys
Badges, Check-in, etc
Marketing
Program Mgt Design
Reg Social
Reports
Measure
CRM
Logistics
The Event/Meeting Planning Process Pyramid
(c) Social Tables, 2014-2015
Site Selection
Manage
The industry as we know it will be obliterated.
The industry will consolidate.
2 firms own 20% of $13bn23k event firms by 2017
Event logistics will be automated.
Group business will be booked mostly online.
Event planning software will be free and integrated.
There are 200 event registration software solutions.
Custom event apps willno longer exists.
There are 120 event app companies
Networks at hotels and events will be a target for hackers.
LearningZone
The industry will continue to consolidate.
2 firms own 20% of $13bn23k event firms by 2017
Turn to a neighbor and discuss why these trends are important to you.
1990s 2010s 2030s
Virtual audiences will be a basic component of events.
Experiences will be more common and more expensive.
Live events will be an important source of revenue for most companies
There will be no more weddings.
Announcing
How can sponsors help announce the event? Can sponsors be involved in promotion, marketing, distribution? The event branding?
Attracting
Can sponsors be involved in campaigns or offerings to attract attendees? Giveaways, raffles, incentives? Content building up to the event?
Anticipating
Are you using sponsor offers to build anticipation? Can you include them in social media campaigns? How can you get your audience interacting before the event?
Entering
What will each attendees first interaction with your sponsors be? Is it engaging? What would make your attendees aware of the sponsors immediately?
Experiencing
Are sponsors part of the experience? How can they be involved during the event? Consider the entertainment, technology, food, program, etc.
Engaging
How did your sponsors interact with attendees? What can you as an organizer do to inspire these interactions? Was everyone engaged?
Exiting
How could sponsors enhance the exiting of your event? What utility is needed or could be provided? Consider transportation, directions, gifts, etc.
Extending
How was the life of the event prolonged after it officially ended? Consider post-event communication, follow-up, sharing content, etc.
LearningZone
Discovery will be seamless and perfect.
Turn to a neighbor and discuss why these trends are important to you.
Event space will be more commoditized than ever.
Hotels will do mostly group business.
Events will mostly be indoors or under covered structures.
Organized labor will beless of an issue.
Everything you will need will be available on-demand.
LearningZone
Turn to a neighbor and summarize what you’ve learned so far.
There will be a subscription model for events.
Free events will be expected by consumers.
There will be no cash at events.
LearningZone
Content will be crowdsourced.
Events will be crowdfunded.
Education will be the key component at meetings.
Turn to a neighbor and summarize what you’ve learned so far.
Source: eMarketer, April 2014
Face-to-face interactions will be even more coveted.
Events will be smaller and more intimate.
F&B will be replaced by more efficient supplements
Technology will be more integrated into our lives, and thus into events.
Turn to a neighbor and summarize what you’ve learned so far.
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