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Business of Meetings: The Strategic Impact of Digital Events on Meetings Monday, October 8, 2012 1:30 – 3:00 pm.

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Presentation on theme: "Business of Meetings: The Strategic Impact of Digital Events on Meetings Monday, October 8, 2012 1:30 – 3:00 pm."— Presentation transcript:

1 Business of Meetings: The Strategic Impact of Digital Events on Meetings Monday, October 8, 2012 1:30 – 3:00 pm

2 Getting to Know You Audience attendees? – Meeting planners, instructional designers, senior executives, consultants, industry partners, other? Who has delivered a hybrid extension of your annual meeting? Live or on-demand? Who is planning to add/extend a digital experience?

3 Marie Bass, MS, CAE Director of Education Healthcare Financial Mgt. Association Chris Brown EVP, Conventions and Business Ops. National Association of Broadcasters Michael Doyle Executive Director Virtual Edge Institute Tony Lorenz Founder BXB Online Panel Moderator Tammy Blosil VP, Online Learning ASAE

4 Virtual Conference and Trade Show Market Forecast “The virtual conference and trade show market has more than doubled in a year from 2009 to 2011 and we expect a compound annual growth rate of 56% through 2018.” Market Research Media

5 What Does the Next Decade Hold for the Global Meetings Industry? “A decade from now, the most important roles for live events will be the event designer, learning architect and digital strategist.” At the event design level there is a clear focus on the need to innovate on the adult learning experience and increase the level of personalization. 86% of respondents agreed: IMEX Power of 10 Study Digital Events Strategist Certification

6 Context: Engagement, Design and Content “28% of smart phone users use their phones as their primary way to access the Internet and the tablet community is quickly growing.” Brandon Hall Research Brandon Hall Research  Understand your Business Goals  Know Your Audience  Build the Right Content  “Hot Top” Keynote Presentations  High-Quality Graphics and Rich Media  Live and Pre-recorded Sessions (live Q & A)  Short Bites  Video is Key  Presentation Styles Evolving  Moderators and Hosts  Experiment

7 The Costs: When to Charge or not to Charge To charge, content must be: Of high perceived value VoluminousTime-critical Delivery of content digitally must be: Perceived as value- add (access, convenience, price) Ideally, audience should: Be accustomed to paying for this kind of content Be in general agreement as to value when conventionally delivered Be under some compulsion to consume content, (e.g., CE credit requirements, certification requirements)

8 Monetization Strategies & Revenue Models – Advertising, Sponsorship, Exhibitors, etc. How to package, price, promote and sell virtual events? And, without taking away from something else? Does virtual become an add-on or can you monetize it in addition to the F2F? Should digital events be separate/integrated? How do you monetize the tradeshow? And, beyond the 2 to 3 days for the association and exhibitor? What are ways to manage costs for first-time and future events?

9 Consider the Costs 1.Internet (dedicated and wifi/mifi) 2.Content Capture (equipment and labor) 3.Environment (player and platforms) 4.Engagement (content and functionality) 5.Production (internal and external) 6.Business Allocations / Marketing and Branding

10 What You Should Know – The Spectrum Policy Spectrum Policy – Usage is substantially growing with the adoption of smartphones and tablets which means additional demand for the broadband that has to come from somewhere causing a reallocation or grabbing some of the broadcast spectrum which has already been reduced through the DTV transition.

11 Success Factors & Road Blocks 1.Elicit leadership support 2.Provide an internal support team 3.Understand your business case for virtual meetings 4.Listen to feedback from internal clients 5.Create snappy content 1.Poor user adoption 2.Undefined strategy owner 3.Technology limitations at remote sites 4.Negative technology experiences 5.High volatility of the virtual technology market. Keys to Success Caution for Roadblocks MPI Foundation: The Strategic Value of Virtual Meetings and Events

12 Resources Brandon Hall Research Digital Events Strategist Certification by the Virtual Edge Institute Digital Events Strategist Certification IMEX Power of 10 Study - What Does the Next Decade Hold for the global Meetings Industry? IMEX Power of 10 Study - What Does the Next Decade Hold for the global Meetings Industry? Kahn Academy - Free world-class education for anyone anywhere. Kahn Academy MPI Foundation: The Strategic Value of Virtual Meetings and Events Pew Research Study, The future impact of the Internet on higher education The Pew Research Center released a 43 page study of the future impact of the Internet on higher education. 60% surveyed agreed that by 2020, there will be a transition to "hybrid" classes that combine online learning components with less-frequent in-person class meetings. Virtual Conference & Trade Show Market Forecast 2013-2018 by the Market Research Media Virtual Conference & Trade Show Market Forecast 2013-2018 Virtual Events Study by IAEE, $295 Virtual Events Study

13 Marie Bass, MS, CAE Director of Education Healthcare Financial Mgt. Association (708) 492-3336 mbass@hfma.org Tammy Blosil VP, Online Learning ASAE (202) 326-9520 tblosil@asaecenter.org Chris Brown EVP, Conventions and Business Ops. National Association of Broadcasters (202) 429-5335 cbrown@nab.org cbrown@nab.org Tell Me Something I Don’t Know Michael Doyle Executive Director Virtual Edge Institute (925) 600-1001 mdoyle@virtualedge.org Tony Lorenz Founder BXB Online (312) 235-1223 Tony.lorenz@bxbonline.com

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