Return on Intent: Why the events industry needs a new ROI

By James Rees, executive director, ExCeL London The end of another busy year of events is always a good time to reflect on the successes we have had, and understand how we can learn, improve and continue the great work we do. We often talk of adapting to new challenges, and none have had more of an impact on our sector in recent times than the Covid-19 pandemic and the acceleration of climate change. Having seen an incredibly strong return of in-person events during 2023, we must consider how we are delivering on attendee expectations for networking, experiences and both environmental and social impacts. Post-pandemic, people are more conscious of the value of their time and the impact travelling to various events would have on climate change, for example. Understanding how and why events must provide a return on investment that is not solely measured or evaluated in financial terms is becoming paramount. At IBTM in Barcelona, ExCeL London is revealing the findings from its strategic research project, Event with Intent, which aims to provide valuable insights into the evolving preferences, behaviours and expectations of event organisers and delegates. ExCeL London surveyed 300 people, including delegates at key international events that took place at the venue during the Summer of 2023, as well as senior leaders from event organisers and agencies for the research. The findings shed light on what motivates attendees to go to events and what their expectations are to deliver valuable delegate experiences in the post-Covid environment. The report’s findings carry important implications for the events industry’s future and calls for a recalibration and focus on a new ROI – Return on Intent – to measure how our sector is delivering value to attendees. Report findings The research was commissioned to understand the key drivers behind event visitor behaviour, and the factors influencing event attendance. We spoke to experienced leaders of the world’s most respected events agencies to test out the trends that emerged, the impact and legacy of the events we hold and what this means for the future, including access, facilities, and the increasing role of technology. Delving into our findings, the report helps shape an understanding of what attendees are looking for in an ever-changing events landscape. Although ‘Bleisure’ – a combination of business and leisure – is certainly a motivation for attendees, who expect unique experiences to be blended into their day of networking and seminar attendance, our research showed they are taking a much more objective-led approach to events. In fact, over 60% of those surveyed cited networking as their primary reason for attending events and conferences. The message is clear: Networking is King. Events are one of the few remaining places for guaranteed face-to-face interactions. A well-designed venue increases the likelihood of what we have termed ‘curated serendipity’ – a seemingly chance meeting with exactly the right person or people to help achieve organisational aims. Event agencies are now using technology to increase these chance meetings, including being able to guide attendees towards specific panel events and webinars – helping to deliver the very best event experiences. In the report we explore how this can include creating bespoke, physical user journeys for attendees to take through an event, tailored to their individual needs and preferences. I touched earlier on the challenges the sector is facing, including recovering from significant global and economic shocks. Our research highlighted environmental and social factors are a priority for attendees, across all demographics surveyed. The creation of a genuine, positive legacy for an event  is something which we believe will be increasingly on organisers’ checklists. Lastly on the findings, the destination matters. Alongside social and environmental factors, maximising time spent in a particular location is a key driver. London was highlighted as the top destination for an event, thanks to its rich cultural heritage and excellent transport links. The city also remains a global business centre full of multinational headquarters and offices, offering considerable networking and partnership opportunities as well as access to talent and expertise beyond any event perimeters. Measuring Return on Intent? How we measure whether attendees achieved what they came for is the next step. We now have a much stronger idea of what attendees are looking for, but how can we utilise this research to help our industry? Some of the most innovative agencies are employing behavioural science techniques to better gauge people’s true reactions. Using this kind of technique, the industry will be able to measure the real Return on Intent and fine-tune events and experiences to better align with attendee expectations. Indeed, at ExCeL London, the decision-making process around the architectural and in-built wellbeing features of the new International Convention Centre in London, which is due for completion in 2024, come from listening to our attendees and aligns with the findings from the report. To read the full report click here