New Research Suggests Live Events Still Preferred But Digital Playing a Stronger Role
September 8, 2020
While live events continue to be overwhelmingly preferred, digital event elements have a role to play going forward, according to data from the ongoing Global Recovery Project conducted by event research company Explori in partnership with UFI.
Supported by SISO and comprising responses from more than 9,000 respondents in 30 countries, the findings indicated that both visitors and exhibitors rated live events more highly in almost all aspects. This was especially true when it comes to networking, with 77 percent of exhibitors and 83 percent of visitors stating that face-to-face events were much better than online.
That said, respondents also indicated they appreciated the reduced costs for attending online events and that the quality of the content was starting to compete with that of face-to-face events — with 52 percent saying the online content was as good as, if not better, than live events.
“This global survey delivers key insights to organizers as they plan ahead. It underlines the clear preference that people want to meet in person to do business,” said Kai Hattendorf, CEO of UFI. “At the same time, it gives a clear roadmap for areas where digital events need to evolve to become a permanent fixture in a hybrid future for the business events industry.”
The survey found that 79 percent of the respondents had at least some interest in attending a hybrid event as an online-only delegate, especially if it was an event they had never attended before.
“Online and hybrid seem to have a complementary role to play alongside live events,” said Sophie Holt, global strategy director for Explori. Holt suggested that online-only events could act as qualification and conversion tools for a flagship live event or offer sponsors access to a totally new audience whose needs are better met in a virtual setting.
“We will be conducting a further phase of research in the near future to further understand the sentiments of visitors and exhibitors, including their views on different aspects of the digital event formats,” said Holt.
Additional results from the ongoing study will be released in the coming weeks, both through traditional reports and via the UFI Connects webinar series, which is available here.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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