 Maintaining innovation and keeping the event “fresh.” Events must reflect the
markets they serve. It is a common fault for event teams to fall somewhat out
of touch with the latest developments in their markets and allow their events
to drift. It is too easy to take last year’s formula and roll it out again, not
paying sufficient attention to emerging technologies or changes in buyer
groups.
When this happens, events can maintain their momentum for one or two
editions, but they will then soon come under threat from a competitor attack
focusing on the new segments, or they will find their exhibitor and sponsor
base eroding.
 Intense competition. The barriers to entry in events can be relatively low,
allowing competitors to launch fairly easily. The exceptions are cases where
organizers have carved out a clear franchise by attracting the major buyers
and sellers in a market segment. The National Restaurant Association has
done this with its annual Chicago show. Any competitors have to be clearly
separated in time and geography.
An aggressive launch will target the same segment and same dates (but
obviously a different venue) to the target event.
Adding value to an events business
After growth, the question that most organizers pose to themselves is: “what steps
can I take to add value to my events business?”
The goal is to achieve predictable, growing revenue streams, as this is what
shareholders value. The inherent difficulty is that events businesses can be impacted
relatively quickly by adverse market forces or aggressive competitive action.
The following steps help organizers to add value to their events:
 Have the right scale
Typically, the larger the event, the higher the margin. However, there is no
point in building scale for its own sake by adding irrelevant or unfocused
elements to an event. These detract from the attendee experience. Event
attendees are relatively sophisticated consumers. After a possible short term
win, attendees will vote with their feet and the event’s value will erode.
An organizer should have a coherent set of properties, each with scale and a
leading position in its market. An integrated B2B owner can argue that a
small event enhances the overall position of its brand in the market.
 Hold a clear, differentiated position in the market or segment
Differentiation is essential and market leadership brings a significant prize.
Undifferentiated events get lost in the shuffle, while the leading event secures
the attention of the most important attendees. The key is to understand which
market segment the event is addressing and then to deliver the right content.
 Understand the specifics of what attendees want and value
Attendees are the lifeblood of events. In conferences they are the major
revenue source, and in exhibitions they are the reason why exhibitors are
prepared to pay a lot of money for a booth. Few exhibition organizers really
understand why attendees do not sleep at night, or the detail of how their
needs are evolving. Those exhibition organizers that can provide highly
relevant content for senior attendees are the ones that achieve sustained
success. Conference organizers have no choice but to provide relevant
content in their programs, or their delegates will not sign up.
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