rohit talwar - convention 2020: future strategies for venues - imex las vegas october 12 2011
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DESCRIPTIONRohit Talwar's presentation on future strategies for venues, from Imex Las Vegas.
- 1. Future Strategies for VenuesImex Las Vegas October 12th 2011Rohit Talwar CEO Fast Future firstname.lastname@example.org www.convention-2020.com
2. ContentsPresentation p3About Fast Futurep 49Image Sourcesp 58 3. Convention 2020 Global strategic foresight study to help the meetings industry prepare forthe decade ahead - Industry-wide sponsors Outside-in focus Multiple outputs Nov 2009 December 2011 4. Growth is not Guaranteed 5. The Market is Very Competitive... 6. Thinking is Back in Fashion 7. Demographic Destinies 2 billion more people in 40 years Demographics is Driving Economics448739 691 5231 344 1998 4157729103058520102050 Source : United Nations 8. Generational DiversityLifespans are IncreasingDeveloped economy under50s have 90% chance ofliving to 100.Aubrey de Grey suggestswe could live to 500 or 1000What are the implicationsfor venues and eventdesign?What kind of opportunitieswill be created? 9. Business Model / ROI InnovationFree or Fantastic 10. What I Want When I Want 11. Barriers to Effectiveness What do you consider are the biggest problems today that stopconferences and exhibitions from being fully effective?697 respondents (03/10)No. of Respondents 12. Factors influencing the decisionto attend in 2020 (03/10)Imagine your life in 2020, what are the factors that would encourage youto attend live events such as conferences and exhibitions?% of Respondents 13. Less but Bigger?By 2020, compared to today, I expect there to be fewer but larger conferences and exhibitions covering wide topics, industrysectors, or "communities of interest" - with less choice of which events toattend, but much more choice within the events themselves.49% 1085 respondents 14. More, Smaller and Specialized?By 2020, compared to today, I expect there to be a greater choice of manymore smaller, highly specialized conferences, exhibitions and meetings - there will be much more competition from events wanting me to attend. 79%1090 respondents 15. Business Model / ROI InnovationFree or Fantastic 16. Event Design Priorities 2011 Extend use ofIncreaseRetain existingsocial media networking sponsors andaround an event opportunities exhibitors 17. Association Event Priorities 2011DemonstrateDifferentiateIdentify benefits /event benefits to events in the proof of value forpotential face of increased sponsors and delegates competitionexhibitors 18. Event Management Strategies2015 Greater focus Stronger focusIncreased on capturing onemphasis on thethe knowledgepersonalization overall meeting generated atand maximizingarchitecture to an event individual ensure delivery learningagainst objectives 19. Alternative Event Business Models 2015 PresentationsAll sessions Sponsorshipstreamed live to available on abased on level ofthe web pay per view interest or actual basis after thebusinesseventgenerated 20. Event Agency Priorities 2011Attract new Maintain the Maximizecustomers existing customerdelegate base satisfaction 21. Event Agency Strategies 2015 Develop solutionsLook more like Focus on which help clientsmanagementdeveloping a deepcapture and re-use consultancies understanding ofthe knowledgeproviding a range ofclient businessgenerated at eventsadditional consulting strategies andand research servicespriorities 22. Venue 2020 SurveyWhich Region are you Based in? 23. Venue 2020Top 5 Country of Residence 24. Venue Strategy, Management and OwnershipThe highest strategic priorities for venues in the next three years are to:Create a more flexible set Differentiate themselves in Identify new markets e.g.of service offerings in the face of increasedemerging industry sectors, response to customercompetitionprofessions anddemands associations 25. Venue Strategy, Management and OwnershipThe highest strategic priorities for venues by 2020 will be toCreate a more flexible set Differentiate themselves in Identify new markets e.g.of service offerings in the face of increasedemerging industry sectors,response to customer competitionprofessions anddemands associations 26. Venue Operations and FacilitiesThe highest strategic priorities for venues in the next three years are to Keep up with meeting Retain and recruit the rightCreate lower cost technologies and identifytalent operating and purchasingthose that will add value models for customers 27. Venue Operations and FacilitiesThe highest strategic priorities for venues by 2020 will be toKeep up with meeting Increase the flexibility of Retain and recruit the righttechnologies and identifyhow venue space can betalent those that will add value configuredfor customers 28. Market StrategiesOver the next decade, which of the following service and market facing strategiesdo you expect Venues to adopt as they seek to compete in a more intense globalenvironment? Adopt environmental bestEnter into internationalSeek to differentiate practices as an expectedalliances with other themselves on service and standard rather than as a independent venues to bid customer experience source of competitivefor multi-year conventionadvantage contracts from associations and other event owners 29. Finance What financial strategies do you expect to see venues adopt by 2020?Focus on developingProvide incentives toOffer greater financialancillary revenue streams encourage repeat bookings support to attract incomingevents 30. What are the key drivers that will havethe greatest influence on the design of new venues in the next decade? Flexibility in use of Supporting a wide rangeFlexibility in use of meeting roomsof possible future concourses / foyers /technology solutionspublic spaces 31. Which of the following Technology Strategies do you expect venues toadopt in the coming decade?Connectivity - offer free Wi-Fi Marketing offer 3D visuals,Event Intelligence Adopt to delegates and exhibitorsvirtual world showcases and smart tagging (e.g. RFID) of online venue walkthroughs trade show booths,to showcase what is on offer delegates and meetingrooms to enable production of accurate information on visitor behaviour 32. Which of the following revenue earningactivities do you expect to see venues adopt over the next decade?Carry advertising in public Host live entertainmentCreate their own or jointareas targeted at thesuch as concerts andventured consumer demographic attendingtheatre performances focused events such as each eventfood and wine fairs,seasonal retail events andlocal craft fairs 33. What do you think will be the key longterm differentiators of successful venuesover the next decade? Flexibility in use of the Staff, quality attitude and Ability to help event owners facilitycapability generate additional revenue streams 34. Over the next decade, publicly funded centres will be expected to play afar greater role in supporting the local community for example providing low or no cost facilities for activities such as local art exhibitions,community meetings and social functions60 56504030 2419201020178 RespondentsStrongly agree Agree Disagree Strongly disagree 35. Over the next decade, venues will increasingly be expected to offer more in-depth and comprehensive event design adviceand will seek to use this as a competitive differentiator60 575040302620 151020 180 Respondents Strongly agree Agree Disagree Strongly disagree 36. As client budget pressures increase, venues will increasinglybe expected to offer direct financial support or underwriting to attract the largest events 60 56 50 40 30 24 19 20 10 1180 Respondents 0Strongly agree Agree Disagree Strongly disagree 37. As the boundaries (start and end points) of events start to blur and event owners seek to increase participant engagement before and after the event, venues will increasingly need to provide solutions that support such social media engagement 60 57 50 40 31 30 2012 10 1 0 181 RespondentsStrongly agree Agree Disagree Stronglydisagree 38. Over the next decade, in the face of intense competition,there will be growing pressure to provide the core facility for free and cover the costs through other revenue streams60 505040 373020 11102 0 Strongly agree Agree Disagree Strongly179 Respondentsdisagree 39. Collaborative Design - LIFT 40. Collaborative Events Gastro 41. PCMA Learning Lounge 42. Silent Conference Globe Forum 43. Trade Show Innovation Routes / Network Health Industry Distributors United Food Processors 44. Food InspirationReinventing the Trade Showhttp://www.borev.net/imf.jpg 45. Adelaide Venue Owned ExperiencesImage source: Adelaide Convention Centre 46. Venue 2020 - Conclusions Demand will hold up Innovation required informats, business models,capability and technology Focus on enabling business Personalisation is key Total sustainability agenda 47. Next Steps from Now to Dec 2011 Venue Strategies DestinationStrategies TechnologyTimeline Association Events Corporate Events 48. Next Steps How Can You Get Involved? Future Reports Give us Feedback Take part in Pulse Surveys Contribute Expert Papers Run / Host a Workshop / Survey Student Essay Competition Suggest Research Topics - tell us what youd like to see Ask about the sponsorship email@example.com 49. About Fast Future 50. Fast Future Travel and Meetings IndustryServices Live Events - Speeches, briefings and workshops for executivemanagement and boards of hotels, airlines, airports, venues,CVBs and associations Future Insights - Customised research on emerging trends,future scenarios, technologies and new markets Immersion - Deep dives on future trends, marketdevelopments, emerging issues and technology advances Strategy - Development of strategies and business plans Innovation - Creation of business models and innovation plans Engagement - Consultancy and workshop facilitation 51. Fast Future Research, consulting, speaking, leadership 5-20 year horizon - focus on ideas, developments,people, trends and forces shaping the future Clients Industry Ass