Stateside with Stephanie
Communities : Now trending !
Stephanie Selesnick meets ELX chairman Mark Brewster to discuss the importance of communities in our industry
usiness event organisers
B are finding it easier to get sponsorship dollars / currency as small , medium , and large companies want more intimate opportunities at faceto-face events to create and deepen relationships with senior buyers and executives .
These unicorns of B2B events have large budgets , treasure their gatekeepers and the job they do , and don ’ t want to be bothered by sales pitches . The more senior the member , the more adverse they are these days to a sales environment . They have become choosier about live events they ’ ll attend . Decisions are based on cost , time out of the office / home , travel , carbon consumption , and more .
This has resulted in media and B2B event organisers being challenged to attract senior level executives to events , conferences , and exhibitions .
“ The value proposition for both buyers and sellers within the B2B event space has changed ,” says Mark Brewster , chairman and co-founder of ELX , the Event Leaders Exchange . He adds : “ Senior level executives want to engage with peers to discuss – online and in person – their unique challenges , find solutions , and participate in a community .” This new value proposition helped launch ELX in late 2021 . ELX is an invitationonly community for global heads of events from the world ’ s largest corporations .
Hosted buyers vs . community events I sat down with Brewster ahead of their Las Vegas event in July this year to discuss Communities – something I see as a trend for B2B organisers to deepen relationships and provide a value-add to their industries ’ biggest buyers . It ’ s invaluable to be where industry insights , solutions , and future trends are discussed .
We discussed the difference between hosted buyers vs . community events . Hosted buyers may have specific programming and networking opportunities attached to a business event , but in the end , they are transactional relationships in that the buyer ’ s primary role attending the event is to purchase equipment , supplies , or services . While there may be commerce and 1-to-1 meetings at a community event , it ’ s not a primary reason .
Brewster explains : “ A community is a union of individuals with similar interests and pain points . Members want to engage with like members . They want to accelerate problem solving and risk – as well as not be isolated . The community provides the safe space to share and collaborate on solutions .”
Setting up a community is not for the faint of heart . It involves a lot of attention to detail , clear
Stephanie Selesnick
communication with members , prospects , and sponsors , as well as listening to your market .
Brewster says : “ The entire value proposition for the community has to be member-first or it won ’ t work . Members should clearly understand that by agreeing to be part of the community , they must be active , open , sometimes vulnerable , and share insights with competitors without a conflict of interest . It ’ s about commonalities , not competition . Call it ‘ Copetition ’.”
Pay-to-play and vendor funded There are two kinds of communities : pay-to-play and vendor funded . Payto-play is a paid membership model . Vendor funded is just that : paid for by sponsors . ELX is vendor funded , so membership is free , but there are strict criteria and they include a rigorous application process to join .
Brewster says : “ For our members , seniority is one of the largest criteria , along with company ’ s revenue , total head counts , size , and shape of the prospective member ’ s organisation . Unfortunately , many who apply do not qualify even though they want to be in the room . Those are hard decisions , but necessary .
“ Above all , protecting the relevance of members for our members keeps the community engaged , growing and trusting in each other .”
For ELX they concentrated for the first 18 months post launch on member recruitment and engagement before looking for underwriters .
Brewster says : “ We work hard with our partners [ sponsors ] to ensure they bring content , experience , and strategic value at our face-to-face events . In turn , they can build and deepen relationships , get visibility their competitors don ’ t , and contribute thought leadership .
“ Partners gain huge insights into what their customers need by being
12 Issue 4 2024 www . exhibitionworld . co . uk