Scrutinize the Future of Events

Why am I writing about this topic now? And, more to the point, what entitles me to even put this topic up for discussion?

One might call me a dreamer! Before forging ahead into the future of the events industry, I always try to look for answers in our past, looking for patterns that might recur sometime soon after this full-speed plunge into digital learning. The era of the lifelong learner is underway and has become part of our everyday routine. The event industry is no exception.  

For decades, I have been the person handling events from acquisition (yes, those annoying sales pitches!) through execution and into the follow-up stages. I know the craftsmanship of our industry inside and out. I have worn many hats during my career, giving me some deep insights into the industry ecosystem and its many players.

What is the future of the event industry? Are we going back to face-to-face meetings as the standard format? Will we prioritize virtual events, or will we choose a hybrid path with the numerous options it provides? What is the main fear confronting event professionals and those in related businesses?

Here are a few possible predictions: 

-      We will embrace a substantial return to an in-person format;

-      After an experimental phase, hybrid events will be the next evolution of the event business, with a human face and a new paradigm of prosperity (more about this paradigm shift shortly); and

-      We will create global hubs for events where people and ideas grow and evolve. 

Along with most of my respondents, I am also betting on hybrid events to take hold, and the “Hub & Spokes” model is my favorite.

 I still hear the voices of those emphasizing the importance of face-to-face meetings as an indispensable human component of events. One of the main concerns is economics – what will happen to the event market ecosystem (e.g., hotels, DMC?s, event planners, conference facilities etc.)? My answer is straightforward; in the prospective event model which I am envisioning, there is space for those who are able to reinvent themselves, using digital agility and creativity to appeal across generations and levels of decision-makers.

Please allow me to entice you with this question: is it feasible to have both? By that I mean, can we combine human interaction with the newest event technology?

Before I switch to the practical solutions, I wish to put forward the most crucial argument for the urgency of this cultural shift - sustainability!

 Do we have the capacity to create a system which accommodates both? Can we balance the apparent advantages of human interaction and face-to-face meetings with the importance of a sustainable lifestyle and moderate usage of natural resources?

What might tilt our community toward taking accountability for the impact of our individual actions upon sustainability?

Here, my greatest hope lies with the inspiring young generation that will become decision-makers very soon. Their mindset is already moving toward addressing the loudly voiced concerns of environmental ethics, and I can only celebrate this trend.

Undoubtedly, we will need the support of the most prominent market forces (e.g., corporate entities and governments) to convert a still niche environmentally friendly mindset into society's new norm. Responsible corporate leaders must join in unison with the younger generation and ensure that we have a livable planet to pass on to those who come after us.

I believe the time is coming when we will start to ask ourselves on a regular basis whether a planned business trip or global face-to-face meeting might be replaced with a “greener” alternative of equal value. I suggest that we open ourselves to the use of technologically advanced options that cover both needs. In my opinion, the momentum for the Hub & Spokes model has arrived. Just try to imagine the impact when implemented even by a handful of companies for their annual gatherings, conferences, incentives etc.

What might this look like? The main stage and the event might take place in the headquarters (or “hub”) and streamed around the world into the subsidiaries (or “spokes”) where local teams are hosting simultaneous events. The assembled participants can still interact face-to-face within their local teams, and exchange ideas with a global audience using the new technology.

A friend who works in scientific research has noted the added value of having those who have worked in multiple regions serve as ambassadors of sorts, connecting diverse networks and facilitating collaboration among the hubs. These ambassadors could serve as catalysts to help others make meaningful connections. If we are honest with ourselves, many of us have travelled to major conferences and yet stayed in a sort of travelling cocoon with people we already knew or came with to the event. From my own period in Sales, I can think of times when I would return from a conference with little to show for the time and financial investment I had made. In contrast, this new approach could enhance our networking and cooperative efforts.

On the other hand, I understand that many are afraid to lose business and a source of income in the midst of this upheaval. And yet, this is the same argument that the horse-and-buggy industry used when the automobile was invented. More recently, we have seen the taxi business give way to Uber. “Creative destruction” is an inevitable result of human progress. The most flexible in any industry will adapt to change.

Rather than fearing change; we should welcome it. I am convinced that we will find new revenue streams to accelerate the event market's ecosystem, creating space for even more players. Agility and the willingness to reinvent oneself is crucial to success. How can we leverage the newest event technology and derive the greatest benefit from it, while keeping in mind the principles of environmental ethics? Currently, I am celebrating young entrepreneurs who are committed to finding practical solutions that have the potential to accommodate both goals in the long run.

Recall a recent example of the creative hub in Zurich when the legendary hotelier Swissotel announced its closure due to the pandemic. What happened next? A pop-up project Notel.ch with co-working spaces appeared, and this response resonated not only in Zurich, but in all of Switzerland. Well done! And this is only the beginning. When there is a question, there will always be those searching for answers, enabling events, business, and sustainability to co-exist under the same roof.

 As a professional who spent decades in the “old normal,” I keep asking myself, what will the new one look like? Many event professionals and our clientele have been asking me, where are we headed? It is true that every area of business needs a trustworthy source, offering practical advice based upon experiments that demonstrate concrete results. But why me? Being a freelancer and independent project manager, we usually have more space for “trial and error.” And one thing I have learned is that mistakes can be a great teacher. I might assume that many companies are starting to consider such satellites with flexible organization models for meaningful collaboration in the future.

But why talk about this now? The pandemic will not last forever. Now is time to decide about the next steps, planning for the long-term and hopefully upgrading our cultural standards. I don’t claim to have “the” answer as to what comes next, but I only know that we now have the momentum in the event industry to determine the outcome collectively, in a way that only happens perhaps once every few decades. Let us not waste this opportunity.