When is the Best Time to Reinvent Your Annual Event?
While the best time to plant a tree is 20 years ago, the best time to reinvent your annual event and trade show is now. The world is changing too fast for the annual “better sameness” improvements most organizations make to their most important annual meeting, conference or trade show.
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Hi, I’m Don Neal.
Thanks for spending some time with me to answer a very important question—when’s the best time to reinvent your annual event. Well, let’s take a page from another industry and look at Kodak. When was the best time for Kodak to reinvent their business? Was it when they had market share dominance, enormous cash reserves in the bank and the ability to overshadow any of their competitors? You know what they did at the time? They took the patent for digital photography they put in the safe! Did you know that Kodak invented digital photography?
Well, let’s come back to your association for a minute. When’s the best time for you to reinvent your annual event? When you’re at the top of your game, revenues are high, attendance is high, exhibits and sponsorship revenue is at its peak? Maybe for some of you, you’re at a different point. Maybe your P&L isn’t looking as strong. Maybe your exhibitors and sponsors aren’t coming back in droves. Or maybe you’re somewhere in the middle. I call it the “68-degree syndrome.” It’s the comfortable middle when it’s not too hot and not too cold and you don’t get up and change the thermostat.
Regardless of where you are, don’t put your X Factor and secret ingredient in the safe for a rainy day. Now is the time to really leverage your advantage and your strategic assets to the greatest advantage of your members and your association and your industry.
If you’d like a few ideas and thoughts starters about how you can reinvent your event at the right time I’d love to talk with you.