IBTM Insights: Events industry news and trends from September/October

IBTM Insights: Events industry news and trends from September/October

Looking for news stories and trends you may not hear about anywhere else? Read on to discover our unique perspectives on the industry’s hottest topics.

Research reveals the value of exhibition attendance
In recent months, the Center for Exhibition Industry Research (CEIR) has released several pieces of research in the form of fact sheets in its Attendee ROI Playbook series. The series provides insight into the value business professionals place on exhibition attendance. Here’s a summary of the findings:

  • Business professionals attend on average four exhibitions every two years
  • 54% plan to continue at the same level over the next two years, while 26% will attend more exhibitions
  • Attendees consider the ability to achieve multiple goals in a timely and cost-effective manner as the most valuable aspect of attending exhibitions
  • Exhibitions are perceived to be an effective place to experience inspiration, recharge and get motivated
  • Face-to-face engagement, with people and product, and existing relationships are filters that help business professionals determine which information is credible and what can be relied on for business information and purchasing decision needs
  • 57 percent of exhibition attendees rank B2B exhibitions as either the first or second most valuable resource to meet business information and purchasing decision needs, compared to 41 percent for communications with vendors, suppliers. No other information sources come close

The CERI research findings reveal business professionals’ reaction to ‘too much’ information. In the digital age, professionals have access to multiple outlets for news, trends and developments. There is so much to work through that finding information of real value is a task that can be overwhelming. Exhibition attendance with face-to-face engagement has been found to be highly valued because it is an efficient way to identify and build business relations and find information from trustworthy sources.

All reports released in this study by CERI are available at no charge on the CERI website here.

Hirst asks industry to show it is ‘better than the alternatives’
In a recent interview, Business Visits and Events Partnership chairman, Michael Hirst OBE, who has an impressive fifty years’ experience in the tourism and hospitality industry, has called on the business events industry to go all out to ‘big up’ our industry and show that face to face is as a form of marketing that is as effective as print, broadcast and digital. “Let’s big up the role of business events to the business events community, we have to show that our form of marketing is better than the alternatives – every event is an opportunity to prove face to face creates better results,” he said.

Hirst went on to describe the MICE industry as a leader in terms of creativity and innovation that can use its prowess to position itself as a vital component of business and marketing communications. He also outlined the importance of having up-to-date legislation to enable the industry to remain competitive, espousing the importance of ensuring government and lawmakers understand the value of our industry and what we need to progress, suggesting that post-Brexit we will need to make changes in order to optimise any advantage of independence from the EU. “We can look at state aid to support large bids and I would hope for a review of the Tour Operator Margin Scheme, with a potential opt out for B2B activity.”

Are subscription hotels the future?
Soon you will be able to pay a subscription for your hotel accommodation. The hotel subscription concept will be launched by Km127, a new luxury four-star, eco-resort hotel, opening in Normandy next year. The hotel’s subscription offer varies from €95 to €279 per month. Subscribers can access a range of accommodation options, depending on the level of subscription they pay and rooms are booked at the touch of a button using the hotel’s app.
Is this the future of hotel pricing? Probably not a mainstream option, but it’s likely to catch the imagination of the more exploratory hotel user.

To be kept up-to-date on future industry news and trends, subscribe to IBTM Insight at https://inside.exceptionalexperiences.net/

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