Why Everyone Should Celebrate a Thriving Exhibitions Industry
June 9, 2015
There is an important behavioral shift underway, one that has huge implications for businesses, organizations and local communities. That change? The growing preference of experience.
While digital marketing continues to grow, in parallel, there is an increased desire for experiences, seen across the board but particularly with Millennials and GenZ. Researchers at Ad Age identified this trend in a recent report, noting that overall promotion, events and experiential agency revenue is growing at a greater rate than advertising, PR, and media.
Certainly, event marketers should rejoice, but this news has implications far beyond the exhibition industry. When the event industry grows, so does business. All business. The exhibitions and events industry is a critical economic driver locally and globally, generating revenue for local companies and creating jobs, while driving business connections and sales. Beyond the event itself, attendees drive revenue into host cities by frequenting mom and pop businesses, dining at local restaurants, and using travel and hospitality providers in the vicinity. Here’s a breakdown of the economic power of the exhibitions industry:
For Businesses
Exhibitions and events enable buyers, sellers and other stakeholders to connect face-to-face with more effectiveness than any other communications channel. This face-to-face engagement is what helps create strong business and personal relationships, and 95 percent of professionals say face-to-face events are key to fostering successful business connections and 87 percent of attendees say live meetings are essential for closing deals*. In addition, exhibiting at trade shows proves valuable for companies looking to reach new customers, with marketers stating they find more and better qualified leads at trade shows versus other marketing channels.**
For Organizations
Face-to-face events are literally connected to and used by every business sector, interest group and association. From tile manufacturers to medical equipment specialists, pet product companies to food and beverage providers – this industry covers it all. Exhibitions are a primary way to keep key communities connected in order to share innovations, education, and make professional contacts.
For Local Communities
According to CEIR, the U.S. exhibitions industry contributes more than $79.3 billion directly to the GDP in attendee and exhibitor spending. Events and exhibitions also support 1.8 million jobs across the country and generate $88 billion in federal, state and local taxes each year which funds and supports our communities, according to CIC.
To keep our economy going, and business moving forward, I hope you’ll join Freeman in supporting the Exhibitions Mean Business campaign and the signature Exhibition Day event, taking place in Washington, D.C., on June 8 and 9.
We’ll share with lawmakers the significant impact the exhibitions and events industry has on the economy, as well as discuss how regulatory decisions impact the industry’s ability to make these positive economic contributions. Follow us at @freemanco and @freemanxp, and #ExhibitionsDay.
*Why Real Face Time Will Always Matter – Inc, September 22, 2014
** The Most Effective B2B Lead Generation Tactics – MarketingProfs, November 2014
This article was first published on Freeman’s blog HERE.
Partner Voices
One of the most iconic names on the Las Vegas Strip just got an upgrade. Mandalay Bay has everything that your business needs from a refreshed convention space designed to inspire productivity and creativity, to an impressive selection of world-class restaurants and amenities. If you're looking for a venue that's both inviting and innovative, you have to be here.
New Wave Experiences
Mandalay Bay continues to invest in a new wave of enhancements both in the convention space and within the resort as a whole. New restaurant openings including Orla by Michael Mina, drawing inspiration from the award-winning chef’s childhood in Egypt and with flavors and décor inspired by the spices found in markets common to coastal Mediterranean towns, as well as Caramá by Wolfgang Puck, bringing the essence of Italy and spirit of Wolfgang into one concept, are recent additions. The Four Seasons Hotel Las Vegas also experienced a recent remodel of all 424 rooms. Swingers, a high-end, adults-only golf and entertainment concept will debut in Fall 2024.
Enhanced Technology
Creating a truly effective conference venue requires careful thought into what a business needs: the right technology, capacity, and inspiration to bring ideas to the next level. As part of the resort’s refresh, Mandalay Bay implemented state-of-the-art technology upgrades, installing cutting-edge Cat6A Ethernet cabling throughout the convention center. This advancement doubles the frequency of data transmission, enabling lightning-fast speeds up to 9400% faster. The convention center now boasts 11 dynamic digital walls, spanning up to 24' x 13', strategically positioned for brand placements, sponsorships and targeted event messaging. Additionally, attendees can benefit from 20 double-sided 55" mobile flexible display units, facilitating effortless navigation to meeting rooms and events. RFID locks were installed on all meeting room doors, and over 200 motion detection cameras have been placed throughout the space.
Refreshing New Design & Fine Art
The newly remodeled convention space provides a bright and vibrant atmosphere that complements Mandalay Bay's tropical-inspired brand. Featuring white-washed walls and ceilings adorned with bold floral patterns in cerulean and coral tones, the space is complemented by warm walnut accent walls. In addition to the redesign of all pre-function spaces, meeting rooms and ballrooms, Mandalay Bay's 1 million square feet of exhibit space has undergone a rejuvenation, including new paint, covered pillars and relocated strobe lights.
Sustainable Spectacles
Mandalay Bay is committed to Focused on What Matters and creating more responsible meetings. Refillable water stations all available around the resort, cutting unnecessary plastic usage from single-use bottles.
The Mandalay Bay campus’ recent upgrades represent a bold step forward in redefining the Las Vegas experience. With a focus on innovation, sustainability, and unparalleled service, Mandalay Bay sets a new standard for excellence in business hospitality. Whether you're seeking cutting-edge conference facilities, world-class dining options, or simply a luxurious retreat, an unparalleled meeting experience awaits.
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