#6 - Navigating the Future of Events: Key Trends Transforming Conferences and Exhibitions

According to a market research by the Custom Market Insights Team, the global events industry is expected to achieve a CAGR of 12% from 2023 to 2032. In 2022, the market size was projected to reach approximately USD 1,190.4 billion, with an anticipated valuation of USD 1,752.9 billion by 2032. As industries evolve, the demand for networking, knowledge sharing, and collaboration is increasing, especially as businesses expand internationally. This trend creates a need for global events that facilitate cross-border partnerships and learning, further driving demand for conferences and exhibitions.

I had the chance to chat with Greg Hitchen , Group CEO of Terrapinn , about his career inspirations, the biggest challenges he's faced, best practices in the industry, and his vision for the future of conferences and exhibitions.

Have you ever wondered what inspired Greg to pursue a career in the conference and exhibition industry? He was in need of a career change and, like many of his peers, stumbled into the events sector. In the late '80s in Australia, the events industry was still emerging and lacked the prominence it enjoys today. Greg soon realised that it aligned perfectly with his strengths and interests, which he later described as "show business for business people."

Greg's leadership style is characterised by ambition, creativity, resilience, a strong customer focus, authenticity, erudition, and discipline. He believes that his approach is symbiotic with Terrapinn 's mission and values. Importantly, Greg holds a firm principle: he would never ask his team to undertake any task that he wouldn't be willing to do himself. This philosophy fosters a culture of mutual respect and shared commitment within the organization.

More importantly, three significant individuals have greatly influenced Greg's career, providing him with valuable lessons and inspiration. The first was Tony Steel OAM , Chairman of Terrapinn , whose entrepreneurship, vision, and principled leadership continue to inspire Greg. Next was Irvine Laidlaw , Founder of the Institute for International Research (IIR) , who essentially created the commercial conferences industry and built an impressive global business. Lastly, Thomas Kemp , Chairman and CEO of Northstar Travel Media and an industry veteran, taught Greg the value of peer networking and offered insights into trade shows.

In today’s fast-paced business environment, leaders often grapple with significant challenges unique to their industries. In the realm of event management, the competition for audience attention—both in terms of physical attendance and online engagement—has become increasingly fierce. For Terrapinn, this intensifying competition represents a major hurdle that they must navigate effectively.

In light of this challenge, Greg emphasises the importance of developing robust and influential event brands that can achieve greater scale. His vision for the future involves not only enhancing the quality and appeal of their events but also establishing them as premier destinations for industry professionals. His team is diligently working to elevate these brands, ensuring that they resonate with their target audiences and deliver exceptional experiences.

Greg has also identified several emerging trends that are shaping the landscape of events. One notable trend is the growing demand for “local” events across various market segments. As audiences increasingly seek personalised and community-driven experiences, event organisers must adapt to these changing preferences.

Additionally, the rise of artificial intelligence (AI) and data-centric technologies is transforming how events are conceived, planned, and executed. Greg highlights that the expectations of younger generations are evolving rapidly, necessitating a shift in how events are designed to cater to this demographic.

Technology, particularly AI, is set to revolutionize every facet of event management—from the initial concept and research stages to planning, content creation, sales, marketing, and delivery. Greg believes that as this journey progresses, the integration of AI will lead to even more innovative and unexpected developments, fundamentally altering the way conferences and exhibitions are organised and experienced.

By embracing these trends and leveraging technology, Terrapinn aims to stay ahead of the curve, ensuring their events remain relevant, engaging, and impactful in an ever-changing landscape.

Terrapinn distinguishes itself from its competitors by placing a strong emphasis on enhancing the attendee experience at its events. The organisation is committed to gathering and leveraging feedback from both attendees and exhibitors to continuously improve future events. For years, Terrapinn has approached event planning through a multi-dimensional lens, focusing on key aspects such as Fun, Networking, Showcasing, and the Sharing of Ideas and Knowledge. This holistic perspective has positioned the team at the forefront of experiential innovation.

Terrapinn is known for pioneering initiatives like Speed Networking, Roundtables, and Facilitated Networking, as well as the strategic deployment of mobile applications to enhance engagement. As they look to the future, the company remains dedicated to further innovation, particularly in harnessing the potential of AI and data analytics.

To ensure they are meeting the needs of their participants, Terrapinn employs a variety of feedback mechanisms:

• Net Promoter Score (NPS): This tool quantifies the overall event experience while collecting valuable comments that highlight attendees’ sentiments. Notably, Terrapinn ’s NPS consistently exceeds industry averages, underscoring their commitment to excellence.
• Rebooking: Often seen as the ultimate form of feedback, the willingness of attendees and exhibitors to return to future events serves as a powerful endorsement of the experience provided.
• Year-Round Engagement: The team maintains ongoing conversations with customers and prospects, actively seeking their insights and asking pertinent questions that can guide improvements.
• Feed-Forward Mechanisms: Leveraging data and AI, Terrapinn is exploring real-time feedback systems that provide immediate insights, enabling them to adapt and enhance the attendee experience on the fly.

By continually innovating and prioritising feedback, Terrapinn not only enhances the current event landscape but also sets the stage for future developments that align with the evolving needs of its community.

What's next?

Terrapinn's growth plan in the next 5 years

• Developing and Scaling Existing Event Brands: The team is committed to refining and enhancing their established event brands, ensuring the team continue to resonate with their audiences. By investing in marketing and operational improvements, Greg aims to maximise the team potential and attract even larger crowds.
• Geographic Expansion: Greg plans to strategically roll out successful event brands into new geographic markets and locations. This will allow the team to tap into fresh audiences and capitalise on emerging opportunities around the globe.
• Increasing Market Presence: In areas where Terrapinn currently has a limited presence, they are focused on building their brand recognition and engagement. By deepening the team involvement in these markets, Terrapinn aims to establish stronger connections and drive attendance.
• Creating New Brands: Greg recognises the importance of innovation in their portfolio. By developing new event brands that cater to evolving industry trends and audience needs, the team can diversify their offerings and attract new participants.
• Product Innovation: Terrapinn is dedicated to continuously enhancing their event products. This includes integrating cutting-edge technology, improving attendee engagement, and creating unique experiences that set them apart from competitors.
• Acquisition of New Event Brands: To further accelerate Terrapinn growth, the team is exploring strategic acquisitions of established event brands. This approach will not only expand their portfolio but also enable them to leverage existing audiences and expertise.

Through these initiatives, Terrapinn aims to position themselves as a leader in the events industry, delivering exceptional value to attendees, exhibitors, and partners while driving sustainable growth.

"Collaboration and partnerships are essential to producing and delivering large-scale events. This includes working with venues, customers, economic development agencies, designers, and media. We've learned to take partnerships very seriously." ~ Greg Hitchen , Group CEO of Terrapinn

In summary, the exhibition and conference market offers significant growth opportunities for businesses aiming to boost visibility and engage stakeholders. Companies are increasingly investing in sponsorships, which often represent a substantial portion of event revenue, and this trend is expected to grow as they pursue targeted marketing. Furthermore, advancements in event technology are enhancing attendee experiences and engagement, prompting organisers to innovate and deliver unique, memorable events.

For more information about what Terrapinn has to offer as your preferred event partner and accelerate your business growth together, click here to find out.

Terrapinn Holdings Ltd - Wren House 43 Hatton Garden London, EC1N 8EL UK