In-Person Events Have Returned. Can We Leave Event Tech Behind?

August 31, 2022

Marco Giberti

Marco Giberti is a successful entrepreneur and investor with more than 25 years of intensive experience in media, technology and the live events industry. He is the founder and CEO of Vesuvio Ventures, where he works with startups, venture and private equity investors, and corporate innovators as a coach, advisor, interim executive, board member or angel investor (or a combination thereof). He is also a co-author of the best-selling books “The Face of Digital,” focusing on how digital technologies are changing the live events industry, and “Reinventing Live, the Always-On Future of Live Events.”

Believe it or not, a successful event organizer recently said to me, “Now that face-to-face events are back, I can forget about event tech.” He had been in the business a while, but this comment made me realize that he is probably a dinosaur living on a different planet. Or not? This organizer is my friend, and we had a fascinating debate on this subject. He said that my reaction was a bit extremist. 

Sound extremist? Let me elaborate on why I don't think so. I started my events career almost 30 years ago during my Apple days. Back then, way before virtual events and event tech, I realized that events were a fantastic marketing tool but disconnected from the annual marketing plan. Since those days, I have organized over 500 events. In every single one of them, I tried to understand different ways to use tech-generating efficiencies and potentially new revenue opportunities. 

In 2008, I started Vesuvio Ventures. Part of our thesis was that event tech could be an attractive investment area. Why? Because events were a multi-trillion-dollar industry and almost isolated from tech during those days. Our thesis was correct but probably a bit ahead of its time back then. We paid the price for being ahead of the market regarding some specific opportunities. Some of our event tech investments died, but others snowballed and are very successful businesses today. Most importantly, we learned valuable lessons about timing in the VC world, particularly in our areas of expertise (event tech, martech, edtech, B2B SaaS and media tech). 

In 2020, COVID happened, and from one day to the next, event tech was an excellent investment category. We saw billions of dollars deployed into thousands of event tech startups in a short time, and almost every event organizer engaged with event tech like never before. 

I guess this situation generated some event tech fatigue for many organizers (like my friend). Now that face-to-face events are back at full speed (thank God for that), some organizers think they can relax and forget about tech. 

Of course, I'm biased since I invest and advise tech startups in the space. Still, I honestly believe that tech will become more critical than ever for the future of our industry, and those organizers who will relax and go back to their pre-COVID comfort zone will pay a high price for that attitude in the future. 

I've mentioned many times in books that I co-wrote, in blog posts like this or at one of the many conferences where I presented that our industry needed to engage with tech faster as a way to generate efficiencies and new revenue models, and improve ROI and NPS scores across all stakeholders. This is not because I invest in startups in this category—it is simply common sense. Software has been eating the world up for over a decade now, and events are no longer isolated. 

A couple of weeks ago, I asked how the industry thinks events are returning, and if you study the results, you will see that 60% of the people who answered think that events are coming back with a different format and revenue model. But I think that more than 60% of our industry professionals believe that tech is not going away (I hope so!) and will be more important than ever before to keep our events growing, relevant, successful and profitable.

Tech and new talent skills are probably the most essential categories our industry should invest more in during the next decade to keep our market share and successful marketing tools. I believe that we learned a lot during the last couple of years on how tech could and should add value to our event's value proposition. Now is the time for industry professionals to double-down and keep investing in tech to improve events—all our events (face-to-face, virtual and hybrid). 

I sincerely hope my friend is the exception. 


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Partner Voices
Less than six months ago, Lisa Messina joined the Las Vegas Convention and Visitors Authority (LVCVA) as the first-ever chief sales officer after leading the sales team at Caesars Entertainment. A 12-year Las Vegas resident, Messina is a graduate of Cornell University’s School of Hotel Administration and serves on MPI International’s board of directors. TSNN had a chance to catch up with this dynamic leader and talk to her about her vision for the new role, current shifts in the trade show industry, creating more diversity and equity within the organization, and advice to future female leaders. Lisa Messina, Chief Sales Officer, LVCVA With Las Vegas becoming The Greatest Arena on EarthTM, what are some of the things you’re most excited about in your role? Our team was at The Big Game’s handoff ceremony earlier this month, and I couldn’t help but think, “We’re going to crush it next year!”  These high-profile events and venues not only drive excitement, but also provide unmatched opportunities for event planners. Allegiant Stadium hosts events from 10 to 65,000 people and offers on-field experiences. Formula 1 Grand Prix will take place in Las Vegas in November, after the year-one F1 race, the four-story paddock building will be available for buyouts and will also offer daily ride-along experiences that will be available for groups. And, of course, the MSG Sphere officially announced that it will open in September, ahead of schedule, with a U2 residency. It’s going to be the most technologically advanced venue as far as lighting, sound, feel, and even scent, and it will be available for buyouts and next-level sponsorships inside and outside. There’s no ceiling to what you can do when you’re doing events in Las Vegas.  Allegiant Stadium As the trade show and convention business returns to the pre-pandemic levels, what shifts are you noticing and how do you think they will impact the industry going forward? Our trade show organizers are very focused on driving customer experience. Most of our organizers are reporting stronger exhibitor numbers and increased numbers of new exhibitors, with trade shows proving to be almost or above 2019 levels. Now our organizers are really doubling down on driving attendance and focusing on the data to provide that individualized, customized experience to help attendees meet their goals and get the best value. Some companies continue to be cautiously optimistic with their organizational spend when it comes to sending attendees, but I think it will continue to improve. As the U.S. Travel Association makes more progress on the U.S. visa situation, we also expect a growing influx of international attendees. What are some innovative ways the LVCVA helps trade show and convention organizers deliver the most value for their events? We focus on customer experience in the same way that trade show organizers are thinking about it. We got rave reviews with the West Hall Expansion of the Las Vegas Convention Center (LVCC), so over the next two years, we will be renovating the North and the Central halls, which will include not just the same look and feel, but also the digital experiences that can be leveraged for branding and sponsorship opportunities.  Vegas Loop, the underground transportation system designed by The Boring Company, is also a way we have enhanced the customer experience. Vegas Loop at the LVCC has transported more than 900,000 convention attendees across the campus since its 2021 launch. Last summer, Resorts World and The Boring Company opened the first resort stop at the Resorts World Las Vegas , with plans to expand throughout the resort corridor, including downtown Las Vegas, Allegiant Stadium and Harry Reid International Airport. The LVCVA also purchased the Las Vegas Monorail in 2020, the 3.9-mile-long elevated transportation system that connects eight resorts directly to the convention center campus. This is the only rail system in the world that integrates fares directly into show badges and registration. For trade show organizers, these transportation options mean saving time, money and effort when it comes to moving groups from the hotels to LVCC and around the city. Also, the more we can focus on building the infrastructure around the convention center, the more it supports the customer experience and ultimately supports our trade show organizers. Scheduled to debut in Q4, Fontainebleau Las Vegas will offer 3,700 hotel rooms and 550,000 square feet of meeting and convention space next to LVCC.  What are some of the plans for advancing DEI (diversity, equity and inclusion) within your organization? We’re currently partnering with instead of working with a leading consulting firm, to lay the foundation and create a solid DEI plan and be the leader when it comes to DEI initiatives. The heart of that journey with the consulting firm is also talking to our customers about their strategic approaches to DEI and driving innovation in this space.  What are your favorite ways to recharge? My husband and I have an RV and we’re outdoorsy people. So, while we have over 150,000 world-class hotel rooms and renowned restaurants right outside our doorstep, one of my favorite things to do is get out to Red Rock Canyon, the Valley of Fire, and Lake Mead. Five of the top national parks are within a three-hour drive from Las Vegas, so there’s a lot you can do. We love balancing the energy of Las Vegas with nature, and we’re noticing that a lot of attendees add activities off the Strip when they come here.  Valley of Fire What advice would you give to women following leadership paths in destination marketing? I think it’s about being laser-focused on what you want to accomplish; building a team around you that lifts you and helps you achieve your goals; and being humble and realizing that you do it as a group. No one gets this done alone. Thankfully, there are a lot of women in leadership in this organization, in our customers’ organizations, and in this city that we can be really proud of. We’re a formidable force that is making things happen.   This interview has been edited and condensed. This article is exclusively sponsored by the Las Vegas Convention & Visitors Authority. For more information, visit HERE.