Data Driven to STOP
Before our governments first invited, then ordered citizens to stay at home, our largest global companies initiated travel restrictions and work-at-home policies. What do these largest companies have in common? They are driven by data, and have arguably the greatest access to data in the world. They know how and where we are traveling, what we are buying or considering purchasing, and what we are not. These companies are also the lifeblood, the core of repeat business for many across the MICE (Meeting, Incentive, Convention and Exposition) sectors. They travel for business, to client meetings and trade shows. for incentive programs and sales meeting. Because they are companies that generally pay well, the people also travel for leisure, combining trips aka ‘BLeisure’ and support economies around the globe who are reliant on delegate and tourism dollars as core GDP drivers.
For now, we have stopped traveling, meeting, and going to any event greater than five people. Festivals, conferences, trade shows and exhibitions, sporting events from professional to children’s sports, concerts, weddings, gala fundraisers, incentive trips and more – all cancelled or postponed, or are being held virtually. The data shows us if we do this, we may flatten the curve, and people may meet for business and social purposes again. Depending on how quickly we do this, the estimated timeline for this ranges from now, in countries where cases are declining, to “the summer” for those countries suffering now.
What gives me hope for the future in a time when it feels as if the world has been put on PAUSE? It is this access to data, with more than 150 countries working simultaneously and collaboratively as they never have before to find treatments, cures and a vaccine. It is the countries that have shown leadership in sending their citizens home, while understanding this requires economic support for those at home are the same countries who will re-open when it is safe. It is the hotels and convention centres which have become havens for medical care that will return to hospitality and re-open for events, who have shown empathy and support during this time.
It is these same data-driven companies that will track the metrics behind a virtual event vs a face-to-face event, and know that being together builds the relationships that grow business much more quickly than any virtual event; and will better understand both the amount of work it takes to deliver a great virtual event and how these strategically fit into an overall event plan. As of mid-April 2020 both Microsoft and Facebook have announced they will focus on virtual events until mid-year 2021 – we don’t know yet how many will follow suit but imagine that virtual and hybrid will remain strong.
They understand the value in incentive travel as a business tool used to build loyalty, retain and recruit, and when employing an alternative cash or merchandise strategy can deliver results – because they will have tested alternatives. The value in breaking bread together, using performance to deliver messages effectively, and entertaiment to create pleasant memories and build social status, are all tools we use to create human experiences and moments that matter. These moments take a veritable army of people to create and deliver, and while these are all currently quiet, we will see the many partners that make events magic rise again. But now, we stay home, talk on-line, and grow our skills for the future. Stay in touch and let’s build our future together.
