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
MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.
At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:
Protecting Natural Resources
MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.
Committed to Community
Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.
MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.
Fostering Diversity & Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.
Add new comment