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Future Strategies for Venues Imex Las Vegas October 12 th 2011 Rohit Talwar CEO Fast Future [email protected] www.convention-2020.com

Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

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Page 1: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Future Strategies

for Venues

Imex Las Vegas

October 12th 2011

Rohit Talwar

CEO – Fast Future

[email protected]

www.convention-2020.com

Page 2: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Contents

Presentation p 3

About Fast Future p 49

Image Sources p 58

Page 3: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

• Global strategic foresight study to help the meetings industry prepare for

the decade ahead - Industry-wide sponsors

• Outside-in focus

• Multiple outputs Nov 2009 – December 2011

Convention 2020

Page 4: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Growth is not Guaranteed…

Page 5: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

The Market is Very Competitive...

Page 6: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

…Thinking is Back in Fashion

Page 7: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Demographic Destinies 2 billion more people in 40 years –

Demographics is Driving Economics

1998

448 691

729

5231

4157

739

1030

344

585

Source : United Nations 2010 2050

Page 8: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Generational Diversity

Lifespans are Increasing

Developed economy ‘under

50’s’ have 90% chance of

living to 100.

Aubrey de Grey suggests

we could live to 500 or 1000

What are the implications

for venues and event

design?

What kind of opportunities

will be created?

Page 9: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Business Model / ROI Innovation

Free or Fantastic

Page 10: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

What I Want – When I Want

Page 11: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Barriers to Effectiveness

697 respondents (03/10) No. of Respondents

What do you consider are the biggest problems today that stop

conferences and exhibitions from being fully effective?

Page 12: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Factors influencing the decision

to attend in 2020 (03/10)

% of Respondents

Imagine your life in 2020, what are the factors that would encourage you

to attend live events such as conferences and exhibitions?

Page 13: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Less but Bigger? By 2020, compared to today, I expect there to be fewer but larger

conferences and exhibitions covering wide topics, industry

sectors, or "communities of interest" - with less choice of which events to

attend, but much more choice within the events themselves.

49% 1085 respondents

Page 14: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

More, Smaller and Specialized? By 2020, compared to today, I expect there to be a greater choice of many

more smaller, highly specialized conferences, exhibitions and meetings -

there will be much more competition from events wanting me to attend.

1090 respondents

79%

Page 15: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Business Model / ROI Innovation

Free or Fantastic

Page 16: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Event Design Priorities 2011

Increase

networking

opportunities

Extend use of

social media

around an event

Retain existing

sponsors and

exhibitors

Page 17: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Demonstrate

event benefits to

potential

delegates

Association Event Priorities 2011

Differentiate

events in the

face of increased

competition

Identify benefits /

proof of value for

sponsors and

exhibitors

Page 18: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Stronger focus

on

personalization

and maximizing

individual

learning

Greater focus

on capturing

the knowledge

generated at

an event

Increased

emphasis on the

overall ‘meeting

architecture’ to

ensure delivery

against objectives

Event Management Strategies

2015

Page 19: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Presentations

streamed live to

the web

Alternative Event Business

Models 2015

All sessions

available on a

pay per view

basis after the

event

Sponsorship

based on level of

interest or actual

business

generated

Page 20: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Event Agency Priorities 2011

Attract new

customers

Maintain the

existing customer

base

Maximize

delegate

satisfaction

Page 21: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Event Agency Strategies 2015

Develop solutions

which help clients

capture and re-use

the knowledge

generated at events

Look more like

management

consultancies –

providing a range of

additional consulting

and research services

Focus on

developing a deep

understanding of

client business

strategies and

priorities

Page 22: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue 2020 Survey

Which Region are you Based in?

Page 23: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue 2020

Top 5 Country of Residence

Page 24: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue Strategy, Management and Ownership

The highest strategic priorities for venues in the next three years are to:

Differentiate themselves in

the face of increased

competition

Identify new markets e.g.

emerging industry sectors,

professions and

associations

Create a more flexible set

of service offerings in

response to customer

demands

Page 25: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue Strategy, Management and Ownership

The highest strategic priorities for venues by 2020 will be to

Create a more flexible set

of service offerings in

response to customer

demands

Differentiate themselves in

the face of increased

competition

Identify new markets e.g.

emerging industry sectors,

professions and

associations

Page 26: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue Operations and Facilities

The highest strategic priorities for venues in the next three years are to

Keep up with meeting

technologies and identify

those that will add value

for customers

Retain and recruit the right

talent Create lower cost

operating and purchasing

models

Page 27: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue Operations and Facilities

The highest strategic priorities for venues by 2020 will be to

Keep up with meeting

technologies and identify

those that will add value

for customers

Retain and recruit the right

talent

Increase the flexibility of

how venue space can be

configured

Page 28: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Market Strategies Over the next decade, which of the following service and market facing strategies

do you expect Venues to adopt as they seek to compete in a more intense global

environment?

Adopt environmental best

practices as an expected

standard rather than as a

source of competitive

advantage

Seek to differentiate

themselves on service and

customer experience

Enter into international

alliances with other

independent venues to bid

for multi-year convention

contracts from

associations and other

event owners

Page 29: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Finance

What financial strategies do you expect to see venues adopt by 2020?

Focus on developing

ancillary revenue streams

Provide incentives to

encourage repeat bookings

Offer greater financial

support to attract incoming

events

Page 30: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

What are the key drivers that will have

the greatest influence on the design of

new venues in the next decade?

Flexibility in use of

meeting rooms

Supporting a wide range

of possible future

technology solutions

Flexibility in use of

concourses / foyers /

public spaces

Page 31: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Which of the following Technology

Strategies do you expect venues to

adopt in the coming decade?

Marketing – offer 3D visuals,

virtual world showcases and

online venue ‘walkthroughs’

to showcase what is on offer

Connectivity - offer free Wi-Fi

to delegates and exhibitors

Event Intelligence – Adopt

smart tagging (e.g. RFID) of

trade show booths,

delegates and meeting

rooms to enable production

of accurate information on

visitor behaviour

Page 32: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Which of the following revenue earning

activities do you expect to see venues

adopt over the next decade?

Carry advertising in public

areas targeted at the

demographic attending

each event

Host live entertainment

such as concerts and

theatre performances

Create their own or 'joint

ventured' consumer

focused events such as

food and wine fairs,

seasonal retail events and

local craft fairs

Page 33: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

What do you think will be the key long

term differentiators of successful venues

over the next decade?

Flexibility in use of the

facility

Staff, quality attitude and

capability

Ability to help event owners

generate additional

revenue streams

Page 34: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Over the next decade, publicly funded centres will be expected to play a

far greater role in supporting the local community – for example providing

low or no cost facilities for activities such as local art exhibitions,

community meetings and social functions

178 Respondents

19

56

24

2

0

10

20

30

40

50

60

Strongly agree Agree Disagree Strongly disagree

Page 35: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Over the next decade, venues will increasingly be expected to

offer more in-depth and comprehensive event design advice

and will seek to use this as a competitive differentiator

180 Respondents

26

57

15

2

0

10

20

30

40

50

60

Strongly agree Agree Disagree Strongly disagree

Page 36: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

As client budget pressures increase, venues will increasingly

be expected to offer direct financial support or underwriting

to attract the largest events

180 Respondents

19

56

24

1

0

10

20

30

40

50

60

Strongly agree Agree Disagree Strongly disagree

Page 37: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

As the boundaries (start and end points) of events start to blur and event

owners seek to increase participant engagement before and after the

event, venues will increasingly need to provide solutions that support

such social media engagement

181 Respondents

31

57

12

1

0

10

20

30

40

50

60

Strongly agree Agree Disagree Strongly disagree

Page 38: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Over the next decade, in the face of intense competition,

there will be growing pressure to provide the core facility for

free and cover the costs through other revenue streams

179 Respondents

11

50

37

2

0

10

20

30

40

50

60

Strongly agree Agree Disagree Strongly disagree

Page 39: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Collaborative Design - LIFT

Page 40: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Collaborative Events – Gastro

Page 41: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

PCMA Learning Lounge

Page 42: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Silent Conference – Globe Forum

Page 43: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Trade Show Innovation

• Routes / Network

• Health Industry

Distributors

• United Food

Processors

Page 44: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Food Inspiration

Reinventing the Trade Show

http://www.borev.net/imf.jpg

Page 45: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Adelaide

Venue Owned Experiences

Image source: Adelaide Convention Centre

Page 46: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Venue 2020 - Conclusions

• Demand will hold up

• Innovation required in

formats, business models,

capability and technology

• Focus on ‘enabling business’

• Personalisation is key

• ‘Total sustainability’ agenda

Page 47: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Next Steps from Now to Dec 2011

• Venue Strategies

• Destination

Strategies

• Technology

Timeline

• Association Events

• Corporate Events

Page 48: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Next Steps – How Can You Get

Involved?

• Future Reports – Give us Feedback

• Take part in Pulse Surveys

• Contribute Expert Papers

• Run / Host a Workshop / Survey

• Student Essay Competition

• Suggest Research Topics - tell us what you’d like to see …

• Ask about the sponsorship benefits

[email protected] www.convention-2020.com

Page 49: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

About Fast Future

Page 50: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Fast Future –

Travel and Meetings Industry

Services • Live Events - Speeches, briefings and workshops for executive

management and boards of hotels, airlines, airports, venues,

CVB’s and associations

• Future Insights - Customised research on emerging trends,

future scenarios, technologies and new markets

• Immersion - ‘Deep dives’ on future trends, market

developments, emerging issues and technology advances

• Strategy - Development of strategies and business plans

• Innovation - Creation of business models and innovation plans

• Engagement - Consultancy and workshop facilitation

Page 51: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Fast Future • Research, consulting, speaking, leadership

• 5-20 year horizon - focus on ideas, developments,

people, trends and forces shaping the future

• Clients

– Industry Associations – ICCA, ASAE, PCMA, MPI

– Corporates - GE, Nokia, Pepsi, IBM, Intel, Orange,

O2, Siemens, Samsung, GSK, SAPE&Y, KPMG,

Amadeus, Sabre, Travelport, Travelex, ING,

Santander, Barclays, Citibank, DeutscheBank

– Governments - Dubai, Finland, Nigeria, Singapore,

UK, US

– Convention Bureaus – Seoul, Sydney, London, San

Francisco, Toronto, Abu Dhabi, Durban, Athens,

Slovenia, Copenhagen

– Convention Centres – Melbourne,

Adelaide, Qatar, QEIICC

– Hotels - Accor Group, Preferred,

– Intercontinental

– PCO’s - Congrex, Kenes

– Airports - Aeroports de Paris / Schiphol Group

Page 52: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Hotels 2020 – Objectives

• Identify key drivers of change

for the globally branded hotel

sector over the next decade

• Examine the implications for:

Hotel strategy

Brand portfolio

Business models

Customer targeting

Innovation

Page 53: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Rohit Talwar • Global futurist and founder of Fast Future Research.

• Award winning speaker on future insights and strategic

innovation – addressing leadership audiences in 40 countries on

5 continents

• Author of Designing Your Future

• Profiled by UK’s Independent Newspaper as one of the Top 10

Global Future Thinkers

• Led futures research, scenario planning and strategic

consultancy projects for clients in telecommunications,

technology, pharmaceuticals, banking, travel and tourism,

environment, food and government sectors

• Clients include 3M, BBC, BT, BAe, Bayer, Chloride, DTC De

Beers, DHL, EADS, Electrolux, E&Y, GE, Hoover, Hyundai, IBM,

ING, Intel, KPMG, M&S, Nakheel, Nokia, Nomura, Novartis,

OECD, Orange, Panasonic, Pfizer, PwC, Samsung, Shell,

Siemens, Symbian, Yell , numerous international associations

and governments agencies in the US, UK, Finland, Dubai,

Nigeria, Saudi Arabia and Singapore.

• To receive Fast Future’s newsletters please email

[email protected]

Page 54: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

• 50 key trends

• 100 emerging trends

• 10 major patterns of change

• Key challenges and choices for

leaders

• Strategic decision making framework

• Scenarios for 2012

• Key futures tools and techniques

• Published August 2008

• Price £49.95 / €54.95/ $69.95

• Email invoice request to

[email protected]

Designing Your Future Key Trends, Challenges and Choices

Page 55: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Our Services Bespoke research; Identification &

Analysis of Future Trends, Drivers &

Shocks

Accelerated Scenario

Planning, Timelining &

Future Mapping

Identification of

Opportunities for

Innovation and Strategic

Investment Strategy Creation &

Development of

Implementation

Roadmaps

Design & Facilitation of

Innovation, Incubation

& Venturing

Programmes

Expert Consultations &

Futures Think Tanks

Personal Futuring for

Leaders and Leadership

Teams

Public Speaking, In-

Company Briefings,

Seminars and

Workshops

Page 56: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Example Projects • Public and private client research e.g. :

– Development of Market Scenarios, emerging trends and strategies for key clients

– Government and OECD Scenario Projects – e.g. Migration 2030, Future of Narcotics,

Chemical Sector, Family 2030

– Scenarios for the global economy for 2030 and the implications for migration

– Designing Your Future (Published August 2008) – book written for the American Society of

Association Executives & The Center for Association Leadership

– Global Economies – e.g. The Future of China – the Path to 2020

– The Shape of Jobs to Come – Emerging Science and Technology Sectors and Careers

– Winning in India and China

– The Future of Human Resources

– Exploiting the Future Potential of Social Media in UK Small to Medium Enterprises

– Convention 2020 – the Future of Business Events

– Future Convention Cities Initiative – Maximising Long-term Economic Impact of Events

– One Step Beyond – Future trends and challenges for the events industry

– Hotels 2020: Beyond Segmentation – Future Hotel Strategies

– The Future of Travel and Tourism in the Middle East – a Vision to 2020

– Future of Travel and Tourism Investment in Saudi Arabia

– Aviation and Airports e.g. Aviation 2030

Page 58: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Image Sources

Page 59: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

Image Sources p.1 Page

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Page 60: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

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Page 61: Rohit Talwar - Convention 2020: Future Strategies for Venues - Imex Las Vegas October 12 2011

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