changing dynamics - imts 2020

© 2019-2020 Global Experience Specialists1

Arjun Chakravarti, Ph.DSenior Vice President – Analytics and Insights

C H A N G I N G D Y N A M I C S

Managing the shift ing purpose of shows across generations


HOW ARE EVENTS CHANGING?

WHEN DO GENERATIONAL FACTORS MATTER?

(with examples)

AGENDA

Traditional activities still matter, but ‘customer success hubs’ in demand

• Decision-simplicity matters over all else – for everyone

• Strategic account management interactions will differ by generation

• Communities will matter more – in booth and for sponsored-activations

© 2019-2020 Global Experience Specialists3Sources: Pew Center Survey

MULTIGENERATION STRATEGY AT EVENTS AND EXPOSBoomers working longer, but much younger generations already supplanting Gen X.

0

10

20

30

40

50

60

70

80

90

100

1995 2019

Silent Boomers Gen X Millennials Post-Millennials

Millennials ~60 M (36 %)

Boomers ~40M (23 %)

Gen X ~53 M (34 %)

Gen Z ~12 M (6 %)

% Workforce by Generation

How can brands account for changing show priorities for

changing attendees?

© 2019-2020 Global Experience Specialists4Sources: Hubspot, Harris Poll

Which generational factors predict event behavior?

Female , Multi-cultural, Early career, Group MentalityLess More

Digital, Variety, Experience-driven, Self-service

Boomers Gen X Gen ZMillennial

Many differences, but only a few really matter for strategic design

Job & Industry Switching, Skills-oriented, Personalized

Budget & Time Constrained

© 2019-2020 Global Experience Specialists5Source: GES Analytics and Insights

Due diligence & Justification

New needs and future

Final decisions

Traditional Commercial Activities Still Relevant

WHAT ARE PEOPLE COMING TO EVENTS FOR?

Boomers Gen Z

• More strategic info• Exotic use cases• Own expertise• Overseer

• Direct how to’s• Apply today • Many experts• Inputter

Differences in desired booth content


All generational stakeholders want their decision-path to be easy


Decision-Simplicity Index

Gather Understand Weigh Trust

Products with top-tier brand simplicity scores are 86 percent more likely to be purchased and 115 percent more likely to be recommended than bottom-tier products. Spenner et al 2012 - HBR

© 2019-2020 Global Experience Specialists8Sources: “Anatomy of a Search Marketer”, Eloqua Blog Tree, Timeline of “Inception”

GATHERING & UNDERSTANDING NEW PRODUCT INFO

Anatomical slides- Many moving parts not

easily understood

Benefit Timelines• Product roadmap / innovation of things• Many moving parts not easily understood

TaxonomiesVisualizing how products connect in an ecosystem

AnatomiesUnderstanding components of a

single product or service –configurable?

All Gens want: short-form, multi-modal, interactive, easy-to-share and re-assess

© 2019-2020 Global Experience Specialists9Sources: Artefact “So you want to buy a tablet”, “Marketing Chutes and Ladders”

WEIGHING : RECONCILING BUYER GOALS AND PRODUCT FIT

Decision TreesMapping goals to

decisions

Uncertain PathExplain processes with

risks / variable elements

Venn DiagramsFocusing options based

on core factors

Low Risk Paths

Economic

Benefits

Focus

© 2019-2020 Global Experience Specialists10Sources: “Anatomy of a Search Marketer”

REDUCING THE PARADOX OF CHOICE

Personalize consumer benefits to specific product attributes- Make it possible to curate or self-drive. Consider low-tech and high-tech materials depending on customer reporting needs. e.g., when is high-tech VR actually supporting a client decision? Is social annotation more important?


INSIGHT: DRIVING SHARED LEARNING & BUYING DECISIONSCapture all elements from exhibitors at a show, have teams away from the show sift through documents and develop a question bank (or finished report). All gens want curated-reporting and sense-making through channels that they understand. Younger gens will use it to co-create and collaborate.

H Y L I G H T E R & M U LT I TA C T I O N

SOCIALANNOTATION


Digital is also changing the event lifecycle for everyone

© 2018 GES - CONFIDENTIAL AND PROPRIETARY. Not for distribution or reproduction

EXHIBITOR BRANDS CAN ESTABLISH EXPERTISE WITH ‘CUSTOMER SUCCESS HUBS’

4 : 1 Ratio of Event to Digital Touches – 2016 ABM Report

“The face-to-face experience can potentially generate higher total ROI than alternative marketing channel investments (e.g., Field visits) when linking expertise and credibility with strategic account management principles.”

- T. Steenburgh, UVA Darden School of Business at CEIR Predict 2019

© 2019-2020 Global Experience Specialists14Sources: Bureau of Labor Statistics, Federal Reserve, Training Magazine Industry Report, LinkedIn Insights

ALL GENERATIONS WANT A CUSTOMER SUCCESS HUB

Apply tech to a hypothetical project or workflow Sessions solving a specific and current client problem

Two – way interaction : Client Service and Innovation Building user groups and communities

© 2018 GES - CONFIDENTIAL AND PROPRIETARY. Not for distribution or reproduction

Pre/Post Learning drives deciding

WHY SHOULD EXHIBITOR BRANDS CARE ABOUT COMMUNITY-BUILDING?

Brands that provide expertise are remembered more but mostly when customer peers can credibly verify information

© 2019-2020 Global Experience Specialists16Sources: Hubspot, Salesforce, HBR, Illinois Tech

How they engage interpersonally varies significantly

Brand Authority

Friend of a Friend / Influencer

Boomers Gen X Gen ZMillennial

Info to bring team / peers

Strategic account management will need to be tailored to differing expectations

Independent learning SOCIAL CAPITAL

If the solution fits / Tribe

Branded / Trusted Colleague RECOMMENDS

INFLUENCED-BY

INTERACTIONRespect experience & scaffold Respect POV, Vision, Authentic

WHERE THEY ROAM

Linkedin / FB Mobile VideoInstagram Experiential Events Reddit / Chatbots

© 2019 Global Experience Specialists

EXPERIENCES CAN BRING GENERATIONS TOGETHERSponsored-experiences link to deeper goals and can be shaped to meld generations

HANDS-ON LEARNING EXPERIENCESPROBE ‘WISDOM OF CROWDS’

COMMON-IDENTITY (e.g, Data Scientists)

MENTORSHIP & SHARED RIGHTS OF PASSAGE

Sources: GES Analytics and Insights Research


CONCLUSION

ALL GENERATIONS WANT EASY PATHS TO DECISIONSShort-form, multi-modal, easy-to-retrieve and share

CUSTOMER SUCCESS HUBS ARE IN HIGHER DEMAND AT SHOWSBuilding trust differs significantly by generation at this stage

COLLABORATE WITH ORGANIZERS TO BUILD COMMUNITY Effective sponsorship and patronage opportunities that link you to a full ecosystem


A R J U N C H A K R AVA R T I , P h . D

S E N I O R V I C E P R E S I D E N T, G E S

A C H A K R AVA R T I @ G E S . C O M

STAY INTOUCH

changing dynamics - imts 2020

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