by Chris Kappes
What determines the future success of an event? One word: VALUE.
The subjective evaluation of an event is based on the expectations set by the organizer and evaluated against the actual outcome. Attendees and exhibitors define value differently.
For attendees, value may be defined as:
- Was the session content as advertised?
- Was the event curation engaging, interactive, and thoughtful?
- Did I leave with new ideas that I can apply?
- Did the networking model make it easy to meet new associates and resources?
- Was the time and money spent attending the conference a good investment?
For exhibitors, value may be defined as:
- Was attendance quality as advertised?
- Were we able to make engagements with quality prospects?
- Did we acquire new customers?
- Did we grow sales and market share because of the event?
- Did the event curation conflict with the show floor attendance?
- Did the networking model make it easy to meet prospects?
Should “event organizers” be held to a standard for what they promote?
Yes. We know that under-achievement generally results in event cancellation due to lack of relevancy, industry consolidation, attendance decline, poor attendee/exhibitor interest.
Do most events today have risk: incentive models for under: over performance?
No, and it’s worth considering.
Show organizers, in concert with their “Attendee-Exhibitor Councils,” could agree to new event performance metrics and payment models:
- Attendees pay a discounted amount to attend and can voluntarily add a post-show bonus based on personal value derived from the event.
- Exhibitors pay a discounted fee with an agreed-upon hold-back percentage and bonus incentive for beating objectives.
We’re all stakeholders in finding creative ways to foster industry growth. It’s time for a novel risk: reward model to help drive innovation and performance, resulting in our value proposition being strengthened.
Call this skin in the game.
Chris Kappes is a three-decade executive who has served as CMO, CSO and President of leading event agencies. Kappes is a published author of two trade books, The Noise Behind Business. How to Make Tradeshows Work & How to Master the Art of Selling at Tradeshows co-written with sales expert, Tom Hopkins. Kappes shares his industry experiences and views at conferences and publications like Exhibit City News. His contact information: kappes52@gmail.com
