any people in our industry have been laid off or sent into furlough , others fear that ‘ their event ’ might not take place and seek new challenges , others again believe that their employer has not reacted properly to the situation . One person described to me that she felt like she was on the Titanic . So , is the Titanic feeling justified ? For those still active in our industry , 2020 has certainly been the most difficult year in history and the perspective is dim . For decades our industry has experienced steady growth and high margins and , as a consequence , innovation has not been our top priority . In the current severe downturn , the search for innovative concepts is intense .

In a rapid attempt to offer alternative solutions to live events , organisers have developed concepts for ‘ virtual ’ exhibitions and hybrid tradeshows . Unfortunately , it baffles many organisers that these initiatives cost a lot of money and often render little value . One CEO of an organiser stated , having spent millions for a ‘ virtual ’ exhibition , that he “ had learnt a lot ”. Another CEO said that the future of trade shows “ is hybrid ”. To me this is unconceivable . The essence of any exhibition or tradeshow is physical presence . There is no ‘ virtual ’ exhibition and there is no ‘ hybrid ’ tradeshow , like there is no virtual meal or hybrid swim . Spending millions to “ learn a lot ” is a waste of money ; the focus must be to deliver value to our customers . It seems to be a reflex in our industry to ‘ digitalise ’ events , not knowing to what extent customers perceive value in such offerings .

We often see ‘ virtual ’ events being developed as individual

Below : Jochen Witt

Jochen Witt is president and CEO at specialist consultancy www . jwc . eu . com

products , rather than as a part of a comprehensive digital strategy . As a consequence , participation and satisfaction levels are below expectation .

To continue our successful f2f business we need to develop a digital strategy with offerings which must fulfill four criteria :

1 . Strengthening the f2f event has to be the highest priority , everything we do digitally has to support the physical business ; a digital-only offering will not be able to compete against the incumbent digital titans

2 . Digital offerings need to create added value for our clients , so that it can be monetised

3 . Digital offerings need to deliver first-class content

4 . Digital offerings need to be extended beyond the timespan and attendee reach of an f2f event .

For 20 years I have been advocating that organisers should offer communication and matchmaking services independent of . time , place and medium / channel . Such a value proposition is still valid and a virtual or hybrid event can only be a small part of that . We need to develop concepts , where the physical event remains the focal attraction

point for an industry and where parts of this event may also be digitalised , however , where global and all yearround digital offerings for product placements , content , matchmaking services , networking and industry promotion etc ., help to create and maintain industry-wide communities . Our current f2f business renders too little information about exhibitor and visitor behaviour and interests ; with the right digital platform we will gain much more valuable customer insights . This will also result in a much stronger f2f business .

And it will also have a major effect on venues . Venues of the future need to better support the show brand and must provide technology which supports the digital business of the organisers : Investment priorities need to shift ; in times of changing customer demand , show sizes in Europe will further decline ( Asia is different ), we will see more specialisation and focus of both exhibitors and visitors ; mega venues of several hundred thousand sqm . with the look and feel of industrial manufacturing sites will no longer meet market requirements . Instead , intuitive venues with structures allowing for time efficient visits , digital technologies in all aspects ( smart venue ), with the highest flexibility , a top design and an emotionally attractive environment , and proximity of exhibition and conference facilities , will become the market leading destinations .

During the last 12 months we have conducted several venue overhaul projects in Europe ; based on strategic market assessments , the majority have resulted in a reduction of venue size in favour of the afore mentioned quality aspects . These venues will be able to dismiss any kind of Titanic feeling .