This article originally appeared in the February 2023 issue of Security Business magazine. When sharing, don’t forget to mention Security Business magazine on LinkedIn and @SecBusinessMag on Twitter.
The world of in-person events has changed post-pandemic, and planners are often challenged to make one event stand out from its many competitive live events. Integrators looking to host their own events for customers must be mindful of the post-pandemic events landscape.
Event planners had to be agile during the pandemic and quickly pivot to a new way of doing business. They were creative and innovative beyond expectations, and attendee expectations have risen in turn – creating demand for more in-person events.
As evidenced by the more than 100,000 attendees at CES 2023, people are once again excited to meet in-person. Live events have come back not only in full swing but with more options than pre-pandemic.
That said, the increase in the number of industry events combined with the concerns of recession that shrinks company travel and sponsor budgets means that attendees and organizers are more selective about the events they attend or fund. For organizers, this means closely managing their event budgets and generating innovative ways to create excitement for the event.
Know the Audience
For planners, it is crucial to decide what holds the most value for attendees – for example, our company frequently engages with our membership, and we know a sense of community creates the most value.
Specifically, the security industry desires to come together, talk face-to-face and share knowledge. This clear focus guides the event layout and use of resources.
Last year, we deviated from our traditional agenda of events and created a program that provided additional networking opportunities and peer-to-peer roundtable meetings. This resulted in more value for sponsors and enabled them to understand the purpose of participating in our event.
Additionally, it allowed us to critically analyze our allocation of event resources. We didn't need to consider funds for a premier speaker or the costs that come with organizing a tradeshow; instead, we were able to concentrate our funds on additional networking activities.
New Challenges
Even with the purpose and structure of the event finalized, the challenges don't end there. In addition to making sure the event will stand out, event planning leaders must keep the budget in check during a new era of negotiating venue contracts.
Pre-pandemic event organizers would start the event venue selection process about one year before the event. Today, this process needs to start even earlier.
A number of new difficulties may be encountered when entering into event contracts, such as rising costs, staffing shortages and restrictive contract terms. Venue contracts look very different today, and the process can often take more time than anticipated. Contract terms that were easily negotiated in the past are now deal-breakers.
Working with hotels and booking guest rooms has been one of the biggest challenges. For example, guest room and event attendee attrition are areas we found to be less negotiable with venues demanding 80 to 90% attrition in agreements where we have negotiated 0% attrition in the past.
In arranging an incentive trip we have held annually for more than a decade, we can be flexible with a higher attrition rate, as we have complete control of the attendee list. Whereas contracting a new event with no meeting history is a situation we may need to work with a more flexible location, which will affect the event destination, structure and experience for attendees. Event planners may find that venues are less willing to negotiate post-pandemic.
Event planners can no longer simply repeat the same event year after year. Instead, they must identify how attendees' expectations have changed in the form of event structure and location and adjust accordingly.
Jennifer Anderson is Director of Events for PSA Security Network. Request more info about PSA at www.securityinfowatch.com/10214742.
