Why are events getting harder to fill ir

HOW EVENTS CAN SURVIVE THE INTERNET AGERecent research suggests that many Australian organisations are struggling to fill their events and conferences, raising questions about the continuing relevance of ‘face to face’ events.

The events/expo industry magazine Micenet commissioned Micromex Research to conduct independent research into the meetings and events industry with a survey in 2011; the results were then compared with the findings from the same survey in 2014.

Results showed that businesses were organising more events, but budgets were lower, attendee numbers were down by around 11%, and attention spans of delegates were shorter.

We wanted to learn more about attitudes towards events among Australian membership associations and professional services companies; and then what can be done to ensure that events maintain relevance and value.

With this in mind, we surveyed over 2,800 senior executives and the solutions they recommended to create well attended events are presented on the final pages of this report.

We asked the following:

According to research by Micromex, businesses are organising more events, however the average number of attendees per event has fallen by 11% in three years.

In your opinion:

1. Is this figure about right, higher or lower?2. Why is it getting harder to fill events?3. What value do you see in holding events?

THE WEB IS KILLING YOUR EVENTSAn Insight Report by

Get your prospects talking back2

Survey Results & Key Insights

Live event attendance has fallen by 11%, do you agree?

Is this figure about right, higher or lower?

An overwhelming 76.8% of respondents agree with the research findings - that the fall in attendance at events has been at least 11% over the past three years.

Understandably this was of concern to many:

“We are definitely getting fewer participants on courses. With over 20 years of running this business it’s not welcome news.”

Director, Education Management, Sydney

Indeed, many feel that the fall in numbers has been considerably steeper:

“There is no doubt attendance numbers are harder to drive over the last few years.

More than your 11% - I’d suggest 30% or more.”

Execution Coaching Partner, Management Consulting, Sydney

Some respondents differentiate between associations and other organisations, suggesting that the figure is about right for established associations but much higher for businesses running marketing and ‘business development’ events.

It was also widely recognised that it is becoming more difficult for organisations to rise above the “clutter” and to stand out:

“Is it only 11%? I thought it would be a lot more dramatic than that - so much competition and noise, unless they are truly established and could show true value.”Managing Director, Marketing and Advertising, Sydney

It’s not just declining ticket sales - ‘No shows’ are increasingAdding to the concern of declining attendee numbers, another problem was highlighted - the growing numbers who register but don’t turn up:

“I see at every event I attend a smaller number of attendees and sadly also notice a number of tags not collected, which in my opinion is even worse.”

CEO, Information Technology and Services, Sydney

“I would say the reported figures of people attending events would be higher than those who actually attend. When attending events there’s usually a whole bunch of no shows, “

Principal, Accounting, Sydney

52%

25%

3%

20%

Is this figure about right, higher or lower?

Yes, that's accurate

It's higher than 11%

No, it's lower than 11%

No, a>endacee is stable or growing

Get your prospects talking back3

Amazingly, one respondent put the registrant to attendee level as low as 35-40%:

“It has been 50-60% in previous year for my organisation in the free events domain, but it could be down to around 35-40% for our events recently from June last year.”

Student, Accounting, Melbourne

Some events maintain attendance and continue to growWhile they may be a minority, around 20% of respondents appear to be managing the change well, with attendance at their events growing.

“With respect to our major event, attendance increased by some 24% for each of the last two events to around 8,000 participants.”

Chief Executive Officer, Nonprofit Organization Management, Sydney

In some cases, organisations have found themselves seeking larger venues to manage the increasing number of attendees – with ‘sold out’ events and one respondent suggesting the increase in attendance was as high as 60%:

“With regards to our organisation this has been quite the opposite as we’ve seen up to a 60% increase in attendance for some of our events. Probably contextual to the industry and model of the event (i.e. - paid, free or freemium).”

Head of Marketing, Professional Training & Coaching, Sydney

So, what are these successful organisations doing differently? We share their insights at the end of this paper…

Attendees are seeing a lack of ROI from events

Why are events harder to fill?

A compelling 44.2% of respondents put the declining numbers down to a perceived lack of ROI for attendees.

Firstly, the ‘what’s in it for me?’ question is simply not being answered well enough by event organisers:

“While professional development is important, some events are not adding value to an individual’s career path.”

Council Member, Nonprofit Organization Management, Melbourne

Secondly, the actual cost of attendance in terms of material costs and time out of the office is perceived as a barrier:

“Main reasons as provided by our members are that it’s either too expensive and their employer won’t allow the time out and they can achieve CPD anywhere for free.”

CEO, Medical Practice, Melbourne

“It is not a lack of awareness. People are more time poor and cash strapped so they come to special purpose things, not general.”

CEO, Government Administration, Sydney

44%

23%

21%

7% 5%

Why are events harder to fill?

Lack of ROI

Oversupply of Events

Other Sources of InformaDon

Lack of InnovaDon

Quality

Get your prospects talking back

ROI is the main blockage for people not attending events, so, what is the investment they’re seeking a return on, time commitment or the money?

The investment that lacks return

Of the 44.2% who mentioned ROI as being the main contributor to the decrease in attendance, over half (58%) cited that the return on the time spent away from the desk was becoming harder to justify.

“People are time poor. There is a great demand on their time and taking days or even hours out of a busy schedule is difficult. Therefore the event has to have very compelling reasons for attendance.”

Owner, Public Relations, Sydney

“The perceived importance of the event vs time invested is diminished. Hence the decrease in attendance.”


42% of those who named ROI as the main factor in reduced attendances said that it was hard for organisations to see the return on the cash invested on staff attending events. The lack of priority in learning and development was again raised:

“Unfortunately, the bean counters can see the direct link and so when there is a need to cut costs L&D gets trimmed.”

Managing Director, Management Consulting, Sydney

“The shareholders take a dim view of companies attending conferences and events. This puts Directors in a situation that they have no choice but to restrict conferences and events that they attend.”

Chairman, Mining & Metals, Western Australia

With across-the-board tighter budgets and “tough financial situation that publicly listed companies are facing”, fewer resources are available to send employees out to events and more checks and balances are being introduced to see that it is time and money well spent:

“I think the contributing factor to this fall is company budgets are tighter than ever. Delegates now get scrutinised on how they are spending and the benefits of attending events.”

Business Development Executive, Event Services, Sydney

4

58%

42%

The investment that lack returns

Time commitment

Money


Some respondents feel that the cost of attending events has become prohibitively high – with entrance fees, travel and accommodation costs built in – especially when there is not much useful information on offer:

“Due to lower numbers, people are having to charge more (if it is a profit model) and no-one likes paying money to be sold to, or for that matter being sold to at all.”

Managing Director, Marketing and Advertising, Sydney

Oversupply of events has spread attendance too thinAlmost a quarter (23%) of respondents see the main contributing factor to be the flood of competing events: there are simply too many similar events and conferences to choose from.

“… the number of events has increased so people are forced to choose between events that have similar content or to prioritise the content they’re interested in based on the frequency of these events. The problem is so many event organisers are after the same target audience.”

Marketing Strategies, Marketing and Advertising, Sydney

Some respondents hinted again at the difficulty in standing out from the crowd when marketing events – they can all begin to sound similar:

“The interesting thing is there are so many events, organisations get bombarded with invitations. The descriptor of an event must be extremely well written to even engage me to recommend it to the organisation.”

Council Member, Nonprofit Organization Management, Melbourne

Online resources have devalued events & conferences21% of respondents feel that online information has decreased the value of attending events, thereby reducing numbers.

The recognition of an attitude of “why pay money for information that I can get for free, on-demand, and with more choice on YouTube or Google?” was aired repeatedly by respondents. The perception that online learning and development is simply better value, more diverse, and more convenient is certainly widespread:

“I think it’s getting harder to fill events these days because there is so much more choice, especially with access to information online.”

Event and Membership Manager, Information Technology and Services, Brisbane

“In the past, events were the prime way to gather information, now information is readily available via Google etc.”

HR Director, Human Resources, Perth

5


“My webcast the other day got over 130+ registrations. Whereas my face to face classes get 10, which is the perfect number for interaction and a great learning experience.”

Success Coach, Professional Training & Coaching, Sydney

While many respondents were keen to point out that events still held intrinsic value in their networking opportunities, there is growing recognition that online resources are providing “shared experiences” too:

“As the internet has increased access to information, networking has become the primary driver for people to attend industry events including things like trade shows. Whilst networking is important to people, the draw of both information & networking is more powerful.”


Again, the element of time is considered crucial too:

“People are time-poor, a lot can be done online.”

Managing Director, PR, Sydney

Lack of new ideas & innovation damages attendance7.1% of respondents note a lack of innovation and new ideas contributing to the decrease in attendance. “Innovation” in this sense includes not

only the information presented at such events but the ways in which they attract delegates through marketing efforts:

“It’s only the events that are presenting fresh material and a fresh approach that are gaining traction. Those with old models are becoming stagnant and declining. We are in an innovation phase of the economic cycle and it is the events that have innovated the way they attract as well as what they present that are winning.”

CEO, Professional Training & Coaching, Brisbane

Some respondents noted that, despite rapid advances in technology, not much has changed with event organisation and presentation; they end up becoming “stale” because every event host is essentially doing the same things:

“The way people put events on and how they go about it, is still very similar to how they were probably held two decades ago.”


“I think it is harder to fill events because they have become everybody’s solution (to marketing). They have become stale.”

Consultant, Management Consulting, Sydney

6


Value to both organisers and attendees

Events need to deliver both networking and knowledgeA third of respondents recognise networking as the key value in organisations staging events:

“Personal networking cannot be overrated. Relationships within an industry are vital to a company or individuals success.”

Owner, Public Relations, Sydney

“There is still value in holding events: People with similar interests will be attracted to the same events as you are;

this is a great opportunity for networking and collaborating that I think we all need to do more of.”

HR Director, Human Resources, Perth

However, almost a quarter also see information and knowledge gathering as a vital part of the attraction, seeing events as a platform for educating members and delegates on industry and regulatory changes, as well as inspiring people to show “leading edge thinking”.

When it works in combination with networking it is especially effective:

“Whilst networking is important to people, the draw of both information & networking is more powerful.”


Much clearly depends on the quality and relevance of information – and also who delivers it. Guest speakers delivering original and informative content is still a powerful attraction, especially when attendees get the chance to grow their network too:

“We hold events to provide our members with an interesting speaker who can offer relevant content and an opportunity for our members to meet other like-minded people to grow their business.”

CEO, Nonprofit Organisation, Melbourne

7

33%

24%

19%

12%

12%

Value from holding Events

Networking

Informa>on/Knowledge

Marke>ng, Sales & Promo>on

F2F Communica>on

EngagementCommunity Connected


Respondents voice clear warnings against making events too focused on selling their services:

“People go to events primarily to learn, then to network. If an event is too ‘salesy’ it just won’t succeed and if the speakers are not high calibre, it’s just not worth the effort.”

Principal, Public Relations, Sydney

Online will never replace face-to-face networkingThe responses above perhaps demonstrate that not quite everything is more attractive online, despite online networking and information gathering growing massively in recent years.

Offline events that offer value in both of these areas and deliver something that online resources do not still have a good chance of being successful:

“The value we get from the events is the opportunity to increase membership and deliver “quality” evidenced based education as opposed to online learning.”

CEO, Medical Practice, Melbourne

“F2F is critical for important networking/decisions. I think there must be a mix of online and offline, it’s not one nor the other.”

Managing Director, Public Relations, Sydney

Respondents point out that there are limitations to online networking – sooner or later the relationship must go offline in order to make the real “connections”. The “human element” of face-to-face interaction should not be under-estimated:

“The value is making contact with potential clients/employees. You can only get so much from an online connection.”

Information Manager, Information Technology, Brisbane

“When I go to most events, I am already somewhat aware of the technical side of what is presented. But, I leave feeling a deeper knowledge and a sense that I’m not alone. In our organisation (the IPA) our member culture of those whom attend events is awesome, so the interaction during sessions, in breaks, and at social after-hours activities is very special.”

Past President, Accounting, Launceston

Events have the potential to create a greater depth of experience and learning than online resources can generally provide – another clear advantage. This respondent sums it up well:

“Events are a great tool to create personalised and memorable experiences. The internet is a great tool for retrieving information but it’s not a personal one. However, unlike the internet, events (whether they’re corporate or private) provide engagement. There’s something about the ambience, music, entertainment, networking, speakers and meeting new people that can’t be replaced digitally. This is one of the main values of events.”

Principal, Public Relations, Sydney

Value is also seen in the marketing potential of events From an organisation’s point of view, it was not surprising to see the marketing, sales and promotional potential of events mentioned as one of the main benefits.

8


Some were quite direct about the sales and lead generation possibilities…

“Events are critical for getting in front of a larger audience in one hit and presenting your wares.”

CEO, Information Technology, Sydney

“The value for holding events is getting a database of warm leads you could sell your products and services to …finding brand new customers who are interested in your products or services.”


Others see the value as a little more indirect:

“The value is that you provide value to the attendees and that builds your reputation.”

Management Consulting, Sydney

“Apart from the obvious development and learning opportunities for our members and others it engages people in our brand and the quality of what we do.”

Chief Operating Officer, Accounting, Sydney

Ensuring attendance is high in the Internet ageAmongst all the negative statistics about attendee rates declining, there is a silver lining of hope. That hope lies with the 20% of respondents who have seen attendee numbers rising. What are they doing differently?

Great marketing is about “Getting your Prospects Talking Back”, and there is no better place to start great sales conversations than at an event or Trade show.

So how do the successful respondees get value from events? What is their advice?

The advice will vary depending on whether you are hosting the event; exhibiting; speaking; or just attending someone else’s event. However, there are core requirements regardless of the type of event, or your role at it.

What have we learnt from this research1, and also from our own experience of working with many clients?

What are the ‘not-negotiable’ requirements for success?

Your event is Valuable and interestingIt must be one that people want to attend, with valuable and interesting content or don’t try and sell it. Our estimate is that 80% of events completely fail to meet this requirement.

You can’t ‘polish a turd’, and if the event is rubbish, your next event becomes a big challenge to fill.2

The Right People know about itOnce you have a great event, all you have to do is let your prospects know about it. Without well targeted marketing even great events will be poorly attended (see the RSMI case study below)

9

1We have just finished our 4th year of R&D funding from the Australian government. Our research continues, and its focus is to develop practical ways for B2B companies to sell more effectively using the new online networks and media: We have developed what we call the Social Media Sales Process. 2From the ABC TV show, The Gruen Transfer who had their Golden Turd Award, derived from the old advertising saying “You can’t polish a turd, but you can roll it in glitter”.


It’s Highly SegmentedThe event needs to be narrowly focused on a segment. Now you can run marketing campaigns that resonate with them, campaigns that they will respond to. It also enables you to make the content of the event more relevant to their interests.

It’s innovativeIt must be, and appear to be, innovative. A key part of innovation is to involve Social Media before the event (LinkedIn and Twitter); during the event (Twitter) and after the event (LinkedIn and Twitter).

It RepeatsOne off events no longer work in this market flooded with events - it takes time and effort to build an event ‘Brand’. Just announcing one and hoping to fill a room no longer works without a clear long term strategy.

You are on before you are onThe best way to receive value at your event is to do some legwork beforehand. This is where a tool like LinkedIn comes into its own: this platform was built for you to network with professionals online, allowing you to connect with attendees and start a conversation with them about you and your services. Remember, networking is still the key

value at the event, so if you can start networking beforehand, why not? And setting up pre-arranged meetings with your prospects beforehand is invaluable.

You engage at the eventEver seen one of those awkward people that checks their phone in their downtime because they’re too shy to approach people? They’re prime to be engaged with! Twitter is by far the most popular and most powerful here. You can also mirror status updates to LinkedIn and Google Plus. Creating an event hashtag, advertising on it, and linking it to a prize draw at the end is a great way to get value and uptake.

Your follow up is fast, segmented and personalisedMost organisations do little or nothing after an event. Get all the information collected into your database, and segment each prospect. Here is what AoM did following a Trade Show (case study below):

“We had just over 140 people to follow up with, and we divided them into 5 categories based on their value to us and urgency to respond. With Lead Creation’s help, we are sending detailed and personalised follow ups.”

Three case studies bringing the theory aliveEach of these companies are very different in the services they provide and the markets they operate in. Also the events were very different as was what they were seeking from 3 very different events.

10


We engaged Lead Creation to invite Finance Directors and Controllers - 3 days after starting the campaign and with only half the invitations sent we had 55 bookings and were now over booked. The event was a great success, and there are now many new companies in our network.”

Brian Gunner, Manager Marketing

3. How to leverage a minor conference speaking role:

“At a leading Accountants technology conference in Melbourne last year, I had a relatively small role as the facilitator of one of the concurrent break out workshops. Lead Creation directly introduced me to 65 new leads who approached me for a chat at the conference. Because Lead Creation had proactively facilitated communication leading into the event, these prospects were already engaged and committed to progressing a relationship and became valuable connections for my future marketing. Overall we had a total prospect pool of 300 potential new channels to market.”

Glyn MacLean, Manager Advisory, Attache Software

1. Creating ‘Booth Envy’:

What’s Booth Envy? Envy from fellow exhibitors created by the number and quality of your visitors.

Art of Mentoring, a Sydney-based company, were heading to the ASAE Annual Convention in Detroit, a huge time commitment and expense for 2 Directors traveling from Sydney. Lead Creation’s challenge was to create booth envy, and it worked…

“Our booth neighbours kept commenting on how busy our stand was and were shaking their heads in disbelief and with some envy3.”

And being busy is not the goal, it’s to meet people who already know about your business and the value you deliver. After day one, Melissa Richardson from AoM said “Wow! What a day. We were REALLY busy. Saw about 50 people today and many are really high quality leads. Some are very sizeable Associations.”

And day two was a carbon copy of day one...

2. Filling a valuable event:

“We had a high value event coming up in March 2015, an all day Symposium for Finance Professionals. There was strong content and a great venue, and we wanted to ensure that we reached individuals outside our normal network of clients and contacts.

11

3 Time to fess up: the powerful new marketing term ‘Booth Envy’ was only coined following this client’s feedback!

Get better results from your eventsConferences and events are a real artform, and getting them right provides huge value for both your organisation and your attendees. Do you:

1. Need your Convention numbers up?

2. Want your booth to be the envy of your competitors?

3. Want your keynote to generate new clients?

4. Want an oversubscribed webinar?

Email or call us now to see how we can help. Filling events and conventions is easier and less costly than you think.

Toby [email protected] / +61 2 8188 8600

www.leadcreation.com.au

https://www.facebook.com/leadcreation

https://twitter.com/leadcreation

https://www.youtube.com/user/leadcreation

http://www.linkedin.com/company/lead-creation

https://www.pinterest.com/leadcreation/

https://plus.google.com/+LeadCreationAU/posts