Helping Exhibitors Succeed Will Be More Important than Ever

We all know that exhibitors are the lifeblood of any successful show. Sadly, newcomers often don’t get the attention they need, which can result in underwhelming results. However, by putting in extra effort to ensure exhibitor success, you’ll create brand advocates and improve your show’s reputation.

Marlys Arnold, a well-known trade show consultant and author of Build a Better Trade Show Image, suggests creating an exhibitor onboarding plan offering practical success tools. The plan should include free promotional opportunities and education, a mentorship program from seasoned exhibitors, and a show floor liaison to assist onsite.

Why is this important for trendsetters in the event industry? Exhibitors who fail to get ROI are less likely to rebook next year, resulting in a lower participation rate and lost revenue. In contrast, when exhibitors have a successful experience, they become brand loyalists who rave about your show and encourage others to attend.

To entice first-time exhibitors, you can also offer incentives such as waived fees, exclusive access, networking opportunities, and partnerships with other exhibitors. Creating an inclusive and encouraging environment is fundamental to attracting exhibitors of all sizes.

“When you work with exhibitors to ensure their success, they become loyal to your show,” explains Arnold.  “You also create a community of exhibitors who will help promote your future events, ensuring the long-term success of your show.”

Behavior Analytics Will Become More Valuable Than Survey Results 

Michelle Mobley, Account Director at VRS Meetings and Events Inc., believes that behavior analytics will be more valuable than survey results in the future. Attendee behavior will be analyzed through technology and tracking, providing event professionals with more accurate and actionable insights. This way, they can enhance attendee experience and engagement in real-time, leading to more successful and profitable events. 

Outsourcing Large Scale Corporate Events Will be on the Rise 

Kara Dao, Chief Operating Officer of JDC Events, foresees the trend of outsourcing large-scale corporate events continuing. As corporate brand managers have increasing responsibilities to support growth, protect their brand, and create new content, they have little time to manage the planning and logistics of their events. Additionally, with reduced teams post-COVID, outsourcing tradeshow management and other critical roles can ensure a successful event. Dao affirms that “leaning on other trusted agencies to deliver is critical.” 

Exhibitor Education Will Be Essential to Drive Trade Show Success 

According to Richard Erschik, speaker/presenter for the Exhibitor Training Webinar, the pandemic forced many exhibiting companies to lay off their exhibit managers. Richard notes that this has led to new and inexperienced people being responsible for managing trade shows. He predicts that fundamental tasks like pre-show promotion should likely be addressed, leaving all aspects of promotion for visitors to the organizer. 

To mitigate this challenge, Richard believes that trade show organizers should leverage exhibitor education to drive their success. He suggests that event professionals who take on the role of educating their exhibitors will win in the long run. This allows for effective pre-show promotion, which catalyzes increased attendance in trade shows, ultimately leading to a successful show for both organizers and exhibitors. 

The Shift from Third-Party Housing Companies to In-House Management 

Kelly Heesterman, Director of Sales & Marketing for Meetingmax, observes that many event rights holders choose to manage their hotel room blocks in-house instead of outsourcing to third-party housing companies. Heesterman says that it made sense to outsource after the pandemic, and with reduced team sizes and unknown event attendance. However, post-pandemic, many of these organizations are saying, “Why am I giving away all of my hotel commission?”  

“With the economy driving prices up across the board, organizations are looking to keep more of their revenue in-house, and there can be a lot of money to make on hotel room blocks,” says Heesterman. She acknowledges that it depends on the team’s skill and capacity, but it’s a trend they are seeing more of. 

Creating an Environment That Makes Attendees Feel Welcome Is Paramount  

Mobley also emphasizes the importance of creating an environment that makes attendees feel welcome. With attendees expecting more personalized experiences than ever before, event professionals need to prioritize making attendees feel valued. Mobley emphasizes that “attendees feeling welcomed is more important than ever” and that event professionals should focus on creating a welcoming environment rather than just surprising attendees with luxury items or experiences. 

Conclusion: Creating a Bright Future for the Events Industry 

As event professionals, we’re no strangers to change. In fact, our industry is defined by it. But as we navigate the shifting landscape of events, it’s important to remember what truly matters: creating experiences that leave attendees feeling inspired, connected, and valued. From the rise of new technologies to the increasing role of data analytics, there’s no denying that the events industry is changing – and changing fast. But by embracing these changes and staying ahead of the curve, we can continue to deliver unforgettable events that leave lasting impacts. 

As event professionals, we must also be mindful of technological advancements, particularly in Artificial Intelligence (AI). In the coming years, AI will be at the forefront of the events industry, from personalized marketing messages to providing real-time data analytics. Event professionals who are adept at embracing this emerging technology will have an edge over their competitors, as AI will allow them to provide more targeted, data-driven solutions to improve attendees’ experiences.   

It’s an exciting time to be an event professional. While challenges are certainly ahead, there are also tremendous opportunities to innovate, grow, and create unforgettable experiences for attendees. By staying on top of industry trends, engaging with emerging technologies, and prioritizing attendee experience, we can confidently and succeed in the future of events. So, let’s embrace the changes ahead and continue to build a bright future for the events industry. 

The post Shaping the Events Industry in 2024: Event Professionals Share Their Predictions  appeared first on A2Z Events.

Welcome to 2024, where contract negotiations continue to be a critical but dreaded aspect of event planning. In this day and age, negotiation skills are even more essential as event professionals strive to deliver memorable experiences while staying on budget. Collaborating with partners has become a crucial strategy to achieve these goals, as it enables organizers to leverage resources and get more value for their money.  

As always, negotiating contracts remains a crucial component of success, allowing organizers to maximize their return on investment and deliver exceptional events. However, it’s not always smooth sailing, as negotiating contracts can impact partners’ relationships, particularly during the early stages of the planning process. With the added complexity of the pandemic, legal issues and requirements have further complicated negotiations.  

Contract negotiations remain a tricky business, but there are ways to navigate it like a pro. With the increasing importance of delivering unforgettable experiences, organizers will benefit from sharpening their negotiation skills. So, buckle up and get ready for some top tips and tricks to help you negotiate contracts hassle-free in 2024 and beyond. 

Start with a Smart RFP Strategy for An Event Contract

When planning an event, budgeting is the foundation that dictates everything else. That’s why it’s crucial to have a smart RFP (Request for Proposal) strategy in place that includes a comprehensive breakdown of all the necessary expenses, from catering and AV to vendor and production standards.  

To create a winning RFP in 2024, start by taking a deep dive into the venue’s menus, AV pricing, and outside vendor guidelines. As you gather this information, make a detailed event budget document that outlines every single item on your list. By doing so, you’ll have a clear view of the big picture of your event and can begin discussions with your event partners.  

Here’s where it gets interesting: while some might hesitate to share their budget with vendors, doing so can have significant advantages. Not only does it help vendors understand exactly what’s expected of them, but it can foster stronger business relationships based on transparency and trust. Plus, when everyone is on the same page financially, it’s easier to avoid unpleasant surprises down the line.  

As Tanna Pearman, Meeting Broker from Meetings Made Easy, puts it, “Honesty is the best policy when it comes to creating an RFP. Be clear and concise with your needs, expectations, must-haves, and wants. Your vendors will appreciate it and will be able to provide you with their best offer.” With a solid RFP in hand, the contracting process will be much smoother, and everyone involved will be on the same page from start to finish.   

By mastering your RFP strategy and budgeting needs in 2024, you’ll be well on your way to planning a successful and unforgettable event. 

Encourage Multiple Quotes and Leverage Competitive Pricing 

In 2024, it’s essential to obtain quotes from various suppliers and vendors, even if you have a top-rated supplier or venue in mind. Having multiple options on the table will give you more leverage when negotiating prices and proposals, allowing you to choose the supplier or venue that best meets your needs.   

Michael Guillory, VP of Marketing and Communications from The Expo Group added some thoughts on this topic.  “You should always include comparative pricing when searching for venues and suppliers”, Guillory said. “However, make sure you are comparing apples to apples.  For example, you would never compare the price of a Honda Civic to a Mercedes S Class, but both vehicles can get you to your destination.  You just have to weigh the importance of the differences to make a smart decision on whether or not the added cost is worth it.” 

You may receive bids from three comparable locations or suppliers, each with a different price and level of service. In that scenario, your “preferred” partner may be able to match pricing or provide a benefit they wouldn’t have if you went with them first. 

Flexibility is Your Friend 

Negotiating with non-negotiable terms can be challenging, but flexibility has its benefits. Demonstrating some flexibility can help you get better terms in exchange for something the vendor wants.   

Consider event elements that you could change without compromising the value of the event, such as changing the event date to non-peak times when the vendor or location is less busy. By having what the venue or vendor wants, such as filling dates during their slow season, can increase your bargaining power and result in better terms. 

Think Long-Term Strategy 

In 2024, savvy event profs will do well to consider the benefits of negotiating multi-event agreements to streamline their contracting process and secure better rates for their events.   

In this turbulent economy, building long-term partnerships with suppliers is more important than ever. Multi-event contracts offer a win-win situation for both parties, ensuring repeat business for suppliers and cost savings for planners.   

Whether you’re negotiating with an audio-visual production partner or an event venue, a multi-event contract can save you time and effort over the long haul. However, it’s crucial to understand the true value of your event so that you can negotiate from a position of strength.   

To get the most out of your multi-event contract, be sure to include protection provisions that will safeguard your interests in case you’re not satisfied with the service over the first years of the contract. With careful planning and negotiation, a multi-event agreement could be just the ticket to boost your bottom line and streamline your event planning process for years to come. 

Negotiating Never Goes Out of Style 

The adage is still valid…you don’t ask; you don’t get. Know your program and what you need before approaching a venue, caterer, rental firm, or any other vendor. Just make your case and work with the provider to make it happen in the best way possible. 

Don’t assume that anything in the contract is off-limits because it is there. It’s up to you whether you want to make a change, but if something in there bothers you, put it in your own words.  

It’s a negotiation, so make your case. However, no matter how hard you try, it might just not be a good fit – and that’s OK. Know when it’s appropriate to walk away from a location or vendor to find something more suitable for you. 

“Negotiating is just that, an opportunity for both parties to discuss needs or expectations,” says Pearman.  “Realize you are not at odds in this process, just making things work for your individual companies.  In doing this, sometimes the negotiations are not optimal and either party may choose to walk away from the deal.  Ending a negotiation does not need to be sticky, be clear about why and respect the individual you are working with.  On the flip side, understand their limitations if an agreement cannot be reached and end with an “agree to disagree” nature.”   

AI in Event Contracting 

AI is no replacement for attorneys and inside counsel; however, using AI can save time and, more importantly, money. Before having a review by your attorney, tools such as Spark AI can review, revise, and make suggestions or generate new contract clauses. It can also compare contracts with event industry standards, comply with legal requirements, and even do a risk assessment. Since tools such as Spark are specifically designed around event contracting, the insights are often far more targeted than those of a typical attorney with a potentially limited understanding of the complexities and nuances of the needs of event contracts.  

As a friendly reminder, carefully review all AI-generated results, and in contract review, always consult a lawyer. 

In Conclusion 

Event Professionals in 2024 face a complex landscape where negotiating contracts requires careful planning and execution. To achieve memorable experiences while staying on budget, collaborating with partners has become a crucial strategy to leverage resources and get more value for money.  

 To navigate the murky waters of contract negotiations, it’s essential to start with a smart RFP strategy that outlines all necessary expenses and engages vendors. Sharing your budget with vendors can foster stronger relationships based on transparency and trust. Getting multiple quotes for suppliers and vendors allows you to leverage competitive pricing and negotiate deals that best meet your needs. Demonstrating flexibility can also be an effective strategy to get better terms in exchange for something the vendor wants.  

Finally, 2024 will be the year of the long-term strategy, where planners and suppliers will build partnerships that offer repeat business for suppliers and cost savings for planners. In this new reality, event professionals will need to stay on top of their negotiation skills, potentially leveraging AI to achieve their goals efficiently, providing unforgettable experiences that are both memorable and profitable. By following these tips and tricks, you’ll be well on your way to negotiating contracts hassle-free and delivering successful events that wow your attendees every time. 

The post Navigating Event Contract Negotiation with Finesse appeared first on A2Z Events.