Imex America - Las Vegas

October 9th – 11th 2012

Rohit Talwar CEO - Fast Future Research

www.fastfuture.com rohit@fastfuture.com Twitter @fastfuture

The Power of 10 Study• Commemorate 10th anniversary of IMEX in Frankfurt

• Explore the future of the global industry over the next decade

• Identify key developments over the last ten years

• Interviews with over 100 industry leaders and future thinkers

• Desk research

• Student essay competition

• Global survey - 765 respondents, 68 countries, six continents

• Sponsors - the Imex Group, Fast Future Research, the German Convention Bureau (GCB), Messe Frankfurt, CPO Hanser and the Frankfurt Tourist Office.

Which region are you based in?

Africa

Asia

Australasia

Europe

Middle East

North America

South America

0% 10% 20% 30% 40% 50% 60%

3%

10%

5%

51%

2%

27%

3%

What's your country of residence?

USA UK Germany Australia India0%

5%

10%

15%

20%

25%22%

12%

9%

5% 5%

What key developments have had the greatest impact in shaping the meetings industry globally

over the last decade?

Global Financial Crisis (GFC) and economic uncertainty 2007-

12

The internet – changing buyer-supplier relationships

Rising delegate expectations – use of time, quality,

content, ROI

The internet – transforming pre- and post-event

engagement

65%

51% 51%

52%

The World in 2022

What external trends and developments could have the greatest impact on the sector globally over the next decade?

Shorter / faster business cycles

Improved quality and cost of technology alternatives to live

meetings

Global economic uncertainty / instability

Growing Asian political / economic influence

49%71%

47% 46%

‘Future Proofed’ Organisations Work on 3 Horizons in Parallel

4-10+ Years

Creating the Future

1-3 Years

Drive for Growth

1-12 Months

Operational Excellence

To reduce vulnerability to economic cycles, the industry must demonstrate tangible return on investment for event owners, delegates, sponsors, exhibitors and other key stakeholders

91%670 respondents Strongly

AgreeAgree Slightly

AgreeSlightly Disagree

Disagree Strongly Disagree

0%

10%

20%

30%

40%

50%

60%

The biggest challenge for the business events sector over the next decade is proving it is a vital contributor to economic development

and the knowledge economy and not just a branch of tourism

533 respondents

78%Strongly

AgreeAgree Slightly

AgreeSlightly Disagree

Disagree Strongly Disagree

0%5%

10%15%20%25%30%35%40%45%

Event Revenues – What key revenue generation tactics will be used by associations and commercial event owners?

Learning from sectors like sport  on

attracting sponsors and exhibitors

The event as a year round revenue

generation platform

Premium pricing options within an even

45% 45%

44%

Cost Control – What key tactics will event owners adopt to reduce financial risks?

Closing unprofitable meetings

Running shorter events

Co-location of events to share cost

64%

Risk and reward sharing

49%

48% 35%

76% ROI

59% Personalisation

51% Interactive Learning

Future Delegate

Expectations

Desired Future

Innovations

Design of the Learning

Experience

59% Build Delegate Insight

55% Deepen Dialogue

52% Tailored Speeches

Event Design

Priorities

48% Pre/Post-Engagement

48% 15-20 Min ‘TED’ Talks

41% Delegate Led Content

The Future Event Experience – Key Priorities of Survey Respondents

61% Cost Reduction

54% Quality & Novelty

43% Shorter Lead Times

Corporate Events – What will the key drivers be in the design of corporate events over the next decade?

56%Experimentation with new formats to

accelerate learning, creativity and change

55%

Use of events to build brand identity and develop ‘sticky’

customer and partner relationships

47%

Multiple goals e.g. motivation, education, external relationship

building and PR

Association Events – What will the key drivers be in the design of association events over the next decade?

Event as a platform to bring new ideas to

members

Merger of events

51%

49%Experimentation with new pricing

models

43%Personalisation of the delegate experience

50%

Knowledge Management – What key tactics will be adopted to maximise the value of knowledge exchange through events?

Knowledge portals to capture generated content

Detailed briefing of speakers

Use of events to create new knowledge networks

Use of events to connect online and offline knowledge communities

55% 49%

48%48%

Technology - Which technology developments do you expect to have the biggest impact on live events over the next

decade?

Mobile apps to connect, interact and share

knowledge

Free Wi-Fi Streaming video to remote audiences

65%

71%

56%

Social Media – What are the key ways you expect social media to be used in business events over the next decade?

Pre-event targeting, marketing, communication

Provide instant delegate feedback on sessions

Use of social review sites to raise the event profile and attract

delegates

Encourage community engagement before, during and after the event

63% 60%

55%55%

In a decade, the most important roles for live events will be the event designer, learning architect and digital strategist

404 respondents

57%Strongly

AgreeAgree Slightly

AgreeSlightly Disagree

Disagree Strongly Disagree

0%5%

10%15%20%25%30%35%40%45%

Venues – What are the critical development priorities for meeting venues over the next decade?

Stay up to date with new and emerging technologies

Develop flexible service offerings

Increase the flexibility of meeting spaces

Identify new markets e.g.

emerging industry sectors, professions

and associations

55%55%

52%

42%

Hotels – Over the next decade, what are the critical priorities for hotels serving the meetings sector?

Increasing the flexibility of meeting spaces and

public areas

Ensuring block room booking prices are

competitive

Offer competitive technology solutions

Developing new business models

61%51%

49%

46%

CVBs – What are the key priorities for convention bureaus over the next decade?

Adopt a multi-channel approach to promoting

the destination

Increase the quality and range of support offered

to event owners and meeting planners

Create tools and services to assist delegates when visiting the destination

55% 52% 52%

Event Agencies – Over the next decade, what are the key priorities for the agencies involved in different aspects of event delivery?

Provide strong proof of return on investment

Launch innovative new products and services

Aligning with the client’s longer term strategy

57% 52%

49%Develop and retain top talent

51%

What are the key priorities for those providing professional support to the industry over the next decade?

Introduce challenging ideas and approaches

Help the industry enhance its entire ‘value

chain’

Help the industry find strategic solutions

61% 52%

48%Help professionalize

capability and practice

46%

Industry Development – What do you see as the key priorities for the development of the live business events industry as a

whole over the next decade?

Increase the level and quality of strategic thinking and long term

planning

Positioning the industry as an engine of economic development

Professionalizing the industry

54% 53%

48%Proving the long term and broader

economic impact of meetings

52%

Associations – What are the critical priorities for meetings industry associations at a national, regional and global level?

Position the industry as a key enabler of the knowledge

economy

Drive up levels of quality and professionalism across the

industry

Scan future trends and developments

Evolve from ‘platforms for information’ to ‘platforms for

interaction’

57% 52%

47% 44%

The most successful meetings industry associations over the next decade will be those that are highly effective in driving member

adoption of long term thinking, encouraging innovation and introducing new business models 

79%402 respondents Strongly

AgreeAgree Slightly

AgreeSlightly Disagree

Disagree Strongly Disagree

0%5%

10%15%20%25%30%35%40%45%50%

Meetings Industry Scenarios

Management Focus

Pockets of Hope

Opportunity Fulfilled

TreadmillComfort in

Chaos

Slow and

Incremental

Change Appetite

Long Term Strategic Development

Rapid and

Transformational

Short Term Operational Delivery

1. Evolving a Distinctive Industry Persona

2. Establishing Universal Economic Impact Models

3. Proving Relevance and Value

4. Thinking and Acting Strategically

5. Nurturing Agility and Flexibility

6. Personalizing and Deepening the Learning Experience

7. Experimenting with Business Models and Revenue Streams

8. Adopting Value Chain Thinking

9. Acquiring, Retaining and Developing Talent and Embracing Diversity

10. Developing Tomorrow’s Leaders and Managers