In this edition of Micebook Talks, Chetan Shah is joined by Julie Furby, Head of Events & Hospitality for KPMG, Mark Baker, Head of Strategy & Operations International Marketing for Oracle and Jade Cannon, Associate Director of Events for the AFME (Association of Financial Markets Europe).
Together, they review what in-house corporates are dealing with right now and how they see the industry recovering in the short and medium-term. They also discuss what agencies and suppliers can offer to support corporates communication needs and build confidence in live events again. Here is what we took away from the session:
Looking after employees’ well-being has been a priority throughout the pandemic.
Teams are now learning to re-scale events for digital delivery and getting familiar with new platforms.
Now is also the perfect time to get creative and come up with innovative ideas and solutions that will be key when booking live events in the future (i.e. social distancing will remain a rule for quite some time).
Briefs coming in for 2020 are for virtual events only. Live events will very much depend on governmental restrictions and they are not expected to make a come back until the new year.
Hybrid events are here to stay but they need to be more inclusive as not everybody is able to communicate via digital platform (i.e. visually impaired or hearing impaired delegates).
Once the borders reopen, companies may not have the cash to invest in events that require air lift and accommodation for their delegates. This could mean fewer international events and more focus on domestic venues.
Outdoors location will become increasingly popular.
Small events such as board meetings are expected to return first. Gala dinners and award ceremonies are tipped to be the last to make a comeback as they do not comply easily with social distancing.
Going forward, event organisers will keep being judged mostly on cost per head.
Flexibility and communication will be key. Client’s budgets won’t be larger but their expectations will be higher, especially in terms of space required to run their events.
The industry has now tied up the cancellations/re-booking process and is now working on the planning stage for virtual events first and live events to follow for next year.
A drastic change is expected from clients once they return to the office. For the past 2 months most people have lived in a bubble and they are therefore not in the mindset to consider large live events.
Hotels and venues should be engaging more with MICE planners and keep them informed about the protocols the are planning to enforce in the future. By doing so they will be at the MICE buyers front of mind when live events return.
Smaller live events paired up with large “hybrid” platforms are tipped to become a big trend going forward. They offer a more cost-effective solution and the prospect of much larger audiences.
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