The Skift Meetings Innovation Lab at IMEX America 2024 focused on the pressing challenges facing the meetings and events industry. This two-hour planner-only event, held on October 6 as part of IMEX America’s Smart Mondays, brings together meeting experts from around the world with participants powered by insights from the latest Skift research. Communicate while discussing their biggest challenges.
Discussions were lively, and while not all discussions resulted in solutions, participants shared openly and were energized by their experiences. Their insights and recommendations are summarized below.
The Skift Meeting Innovation Lab at IMEX America 2024 is sponsored by the Budapest Convention Bureau.
1. Budget and cost constraints
Overall budget pressures remain high, but associations in particular struggle to find suppliers commensurate with their size.
A common complaint? Audio-Visual (AV) Costs. Planners shared stories of high charges for standard equipment and cited monopolistic practices by in-house audiovisual suppliers. Some reported feeling like their campaigns were subsidizing outdated backup setups and untrained staff.
Some planners recommend proactive strategies to reduce costs and ensure quality without increasing expense.
- Review venue contracts carefully and remove AV exclusivity clauses before signing.
- Send AV Request for Proposals (RFP) to multiple providers to promote competitive pricing.
- Work with third-party auditors to evaluate proposed AV settings.
- Specify the exact equipment model and set technician experience requirements.
2. Bandwidth is tight and delivery time is short
As compressed lead times become the norm around the world, planners are stretched thin. America’s “always-on” work culture exacerbates these stresses. Hotel sales teams often report planners remaining silent after receiving suggestions, leaving hotel sales teams scrambling to learn the details.
Some in the industry believe artificial intelligence can help alleviate these bottlenecks. By automating routine tasks, AI tools can ease the burden on short-staffed teams. But there’s a downside: If AI improves efficiency, it may create an expectation of uninterrupted service.
For planners concerned about overburdening their teams, global outsourcing can be an effective option, giving them access to support and expertise across time zones.
3. Important metrics: data and ROI
For event planners, deciding on the right metrics remains a complex task. A simple solution is “cost per contact,” a simplified metric that makes it easier for companies to think about the return on investment of different marketing and communications activities, including events.
But beyond this baseline, the core question is what to measure. Many planners recommend defining key performance indicators (KPIs) from the beginning, focusing on actionable metrics that can provide insights into attendee engagement, lead generation, and content effectiveness.
4. The Struggle of Event Marketing
Corporate event attendees are harder than ever to attract, and planners are under pressure to demonstrate clear value. To attract and retain attendees, planners need to provide clear, personal answers to “What’s in it for me?”
Achieving this goal requires an adequate budget and dedicated staff. But in reality, many teams are stretched thin and juggle multiple roles and responsibilities simultaneously. Social proof is crucial for events that want to increase attendee acquisition: testimonials, case studies, and post-event results give potential attendees a practical reason to sign up.
5. Artificial Intelligence and Event Technology: Beyond ChatGPT
Artificial intelligence is here to stay, but its use in event technology will remain limited. Registration processes and other technology-driven logistics have yet to benefit from generative AI. Facial recognition is a potential game-changer, but privacy concerns pose significant obstacles.
The consensus at the Innovation Lab is that while ChatGPT grabs the headlines, planners should focus on other AI applications, such as predictive analytics and personalization engines. These tools can redefine how events are managed and experienced, but they require caution.
6. Innovation Lab participants support health factors
Wellness isn’t just about providing amenities, it’s about finding the motivation to make lasting changes. Planners note that engaging stakeholders can be a challenge without a strong ROI case.
Many advocate a top-down approach to changing the conversation. This includes educating stakeholders about the loss of productivity when attendees are burned out or stressed out. Instead, a bottom-up approach involves surveying participants directly to give planners a better understanding of what health means to them. Both strategies are effective and should be complemented by demonstrating to leadership the financial and experiential risks of neglecting health.
7. The Path to Diversity and Inclusion
Innovation Lab participants agreed that diversity and inclusion are critical, but gaining real support is an ongoing challenge. Implicit bias often undermines corporate initiatives, and organizations are unsure how to effectively address root causes.
There needs to be a shift in mindset, not just checking a box. Planners recommend taking one simple but effective step: Ask attendees about their experiences and adjust accordingly. When attendees feel truly involved and connected, they are more likely to have a positive perception of the event and become deeply engaged.
8. Career development in the meetings industry
Career advancement in the meetings industry varies widely, with limited options for advanced education and training. Innovation Lab participants noted that industry associations provide valuable resources for entry-level to mid-level professionals, but there is a clear gap at the top.
Whether there is a market for professional education for experienced professionals remains a question. Such initiatives can support planners transitioning into senior or strategic roles, as industry demand for skilled leadership continues to grow.
