The truly effective businesses within the events industry are not those looking to just survive the recession, but those seeing it as an opportunity for change. Across my research, in more than 250 interviews and through hundreds of written articles from successful businesses, there are a handful of trends, constantly repeated, that stand out from the crowd. These are the key considerations of successful businesses, those that are looking beyond the recession. While they come from all industries, they are absolutely relevant to business tourism and events.
Think global
Thinking global can be geographical. Thinking wider can be ‘outside the box’. Think Global is both and more. It is about leading the client in ways they have not considered.
Most of all, think adding new value. It is very easy to think about the way you have always done it. You have created events like this or used this booking system. Added value does not always come from improving processes, which can be hard to do. When you ask how to add new value, start to consider new ways of thinking. Start by thinking from the client’s perspective.
Protect the brand
Your company brand is your image as seen by the client. Everything you do adds to the brand or can take away from it. There is rarely neutral ground so protect the brand at all times. Culture is the biggest key to brand protection; above all, ensure the culture within your organisation matches that of your brand. It will become a part of the people who represent you and they will in turn act as your brand ambassadors, displaying the company image wherever they go.
Be a master of your craft
People want experts who know what they are talking about. In the meetings industry, there are plenty of companies providing a range of services. The future of the industry will be defined by those that clearly articulate and provide the essential expertise needed by their client.
Ask yourself ‘What makes us different?’ Think about a current client and ask how they would describe you to someone else. If they cannot, then you are exposed, because a competitor who can describe themselves clearly will be more appealing to them.
Take calculated risks, but leave nothing to chance
Innovation, creativity and ‘throwing everything up in the air’ includes risks. However, attention to detail is the counter balance that ensures the risks do not expose the organisation too much or in too many areas at once.
A great event, with all sorts of creative effects, can be undermined by a bad experience during registration or an inability to park at the venue.
A whizz presentation can fall apart if the computer does not sync with the projector. It is imperative to try new ways of doing things, but never, ever, take for granted the small things which can make or break everything.
Work with the best
It stands to reason that being a master of your craft means you need the best people. However, best is not simply technically the best, it also means the people that fit the organisation culturally.
A lot of businesses in the meetings and events industry subcontract out (or are subcontracted into) a project, conference or event.
Whether it is hiring an employee, bringing in a subcontractor or partnering with another organisation, the fit has to be right. Fit is about the ability to complement each other and combine skills, talent, values, strengths; and how to support each other in a way that makes an event run smoothly. Above all, this is achieved when companies work hard at ensuring they work with the best people they can.
These five practices can be the starting point for those businesses wishing to really grow beyond the recession. Each one includes a hundred more facets that can improve businesses, but only when they are managed and overseen by strong leaders with a desire to achieve more for everyone involved.
Business leaders within the meetings and events industry will discover that life after the recession will offer new challenges and new opportunities. Now is the time to prepare for them.
