Planning A B2B Event in 2019: The Biggest Challenges
The event industry has shown an amazingly exponential growth in the last couple of years. There have been major changes and revolutionization with cutting edge technology, innovation in communication and event planning. However, there are always challenges with change and revolution.
The global event industry has been throwing some tough challenges for the event planners, and will continue to do so for the next couple of years. As challenges set the right course of action for any business, event industry is no exception. Here are some challenges which will be waving at you in 2019 and beyond:
Increased Demand For Attendee Engagement
Attendee engagement is a huge challenge. It’s a fact that every time, attendees seek a new and better experience. They don’t pay for just learning ways to develop their business but they also pay for an overall experience. They seek for innovation and creativity in every aspect of the event you can imagine.
It’s a challenge for you to always come up with a different idea and do something unique than your competitors. You must try to incorporate new technologies in your event in innovative manners – to deliver new, enjoyable, and fruitful experiences for the attendees.
Learning And Adapting New Technology
Technological advancements are happening real fast. They are shaping and influencing every business, including the event industry. It is a task to stay updated about these new updated technologies in order to compete in the industry.
The event industry has been incorporating technology in every possible way, in order to provide better experience and make the process easy. You must know how to use technology intelligently in your events without any overkill. However, keep in mind that a little human touch is also necessary.
Reduced Event Budget
Budget is a huge concern when it comes to events. 2018 was a great year for the event industry in terms of budget – but 2019 doesn’t seem to be that smooth for the event planners. There is going to be a -1.1% of downward revision of event marketing budget.
You need to be smart enough to manage the best user experience with limited budget. You should go for the basic decent software that suit your needs – rather than indiscriminately going for expensive budgeting software, get volunteers instead of hiring temporary employees and get local talents to save on travelling and housing costs.
Compliance And Laws
There are different laws for every industry. The event industry was an exception till 2018 but not anymore. GDPR is going to change the course of many things for the event planners in the industry. Though it is an EU directive, but it is supported by British government as well.
Data security and collection is a trend in 2019 shaping the industry. This trend will have two major impacts that you need to handle. First, the attendees will surely hesitate to provide a lot of information which will ultimately impact the post event marketing. And second, event organizers will charge more to secure the data provided by the attendees.
Getting Sponsors And Partners
The only concern of businesses sponsoring events is ROI. While businesses sponsor your events, all they really care about is brand visibility, leads and most importantly, multiple fold of ROI on their spent money. It is a huge challenge to secure a sponsor for your event as other event organizers are also seeking for sponsors in the same category.
The competition is high when it comes to getting a sponsor. You need to be superbly creative and realistic with your marketing plans while reaching out to sponsors. You would need to show them real analytics, graphics and a realistic prediction of their benefit from your event.
Impact Of Brexit
You might find this little UK specific, but there’s logic behind this point. After America, the UK has the largest event organizing industry in the world. Every year more than 1.3 million events are hosted in the UK which is worth GBP 42.3 billion. After the Brexit, the three main costs which are expected to get skyrocket are: logistics cost, hiring cross-border temporary staff, securing booths and sponsorships.
The current scenario might not allow businesses to exhibit across border. This will also have a huge impact on the global event industry with heavy taxation and logistical bottlenecks.
2019 will be a challenging round for all the event planners in the event industry. It’s your best chance to explore and showcase your creativity and expertise. With little brainstorming you can definitely convert these challenges into opportunities.