Legacy
The changing face of exhibitions
Event content creator Irina Graf explores why strategic event legacy is the key to a successful return on investment
he economic impacts
T of the pandemic on the global events industry have been clear from the start . We accommodated pivots from virtual to socially distanced events , however the ongoing impact is how we now perceive their value from the perspective of organisers and attendees . Are they worth our time and money to attend ? Are they meeting the needs of our business ? As communities we were desperate to return to gatherings , but our expectations around quality and purpose have shifted .
Irina Graf and Rosie Hawkins
hosted a webinar on the overlooked potential of events with impact . There was a lively discussion around the different silos in which value is attached when we refer to ROI ( return on investment ); from number of attendees to client engagement and sales , to positive economic impact on the event location . This led to discussing what ‘ impact ’ means , what is important and to whom , and the broader landscape that encompasses an event audience . There were two perspectives – one driven by financials ( impact on the client business and event location , and so on ) and one driven by community ( what networks and ongoing business was created , what projects developed ).
The changing face of exhibitions is a clear indicator of this exact conversation playing out in real time , and we explore some of the ways this is evident here .
Legacy and purpose – exhibitors question their ROI Exhibiting at trade shows is a serious investment ; from the cost of the metred space alone , through to producing a stand memorable enough to attract attention over hundreds of others ( plus freight , branding , staffing , merchandise ). For some businesses , it can take between one and five years to see a conversion on a tradeshow lead . With this challenging and intangible rate of ROI , combined with rising costs and increasing expectation of quality among attendees , exhibitors have begun to question the value of exhibitions as a viable marketing activity .
As a result of this dissatisfaction , we are seeing more alternative methods of capitalising on the existing exhibition captive audience . Setting up invite-only fringe events , dinners and meetings is argued as illegal and unethical ; but is predominantly inconvenient for the primary event organisers . There are also event professionals exploring ‘ side event ’ opportunities in less insidious ways , such as hosting gatherings outside of the main live event hours ; but the crux is that the direct needs of exhibitors are not being met . They are thinking more creatively , economically and with greater consideration for the purpose and legacy of their attendance – as explored on a wider event level through the aforementioned webinar .
By recognising this evolution in the needs of event attendees and exhibitors for a considered , purpose-
18 Issue 1 2024 www . exhibitionworld . co . uk