Fond Memories of a Forgotten Industry

If you want to know where the future goes to be seen, look here.

― Charles Pappas

Charles Pappas, reporter for Exhibitor, has compiled a lighthearted treasury of trade show tales titled Flying Cars, Zombie Dogs, and Robot Overlords: How World's Fairs and Trade Expos Changed the World. 

It's a whimsical wayback machine that whirls you through a century and a half of gadgets and the shows that made them famous.

Pappas' goal isn't to spotlight the stars, but the stage. 

Although worth about $100 billion today, trade shows are a forgotten industry, he says, "as invisible as the oxygen in the air around us."

And that's ironic because shows are much more than "product platforms," Pappas says: they help launch social movements.

You'll find tons of delightful trivia inside his 250 pages.

Among my favorite:

• We owe our obsession with dinosaurs to an 1851 London show
  
  
• We eat bananas because an 1876 Philadelphia show popularized them
  
  
• The seed money for the Statue of Liberty came from shows in Paris and Philadelphia
  
  
• Aunt Jemima owes her fame to an 1893 Chicago show
  
  
• The electric vibrator premiered at a 1900 Paris show (where else?)
  
  
• The Patriotic Food Show promoted eating roadkill to help ration food in 1918
  
  
• Space travel launched at a 1927 show in Moscow (30 years before Sputnik)
  
  
• Picasso's "Guernica" began life as a trade show mural
  
  
• The run on Nylon stockings began at the 1939 New York show
  
  
• The term "Con" (as in Comic-Con) was coined by the same promoter who coined "Sci-Fi"

Pappas' book suffers from the author's overuse of puns, but they're easily overlooked amid the fascinating stories he tells. 

Don't miss Flying Cars, Zombie Dogs, and Robot Overlords. It's a lot of fun.

These are the 10 Most Bizarre Crimes Ever Committed by an Association Executive

NOTE: The confessions below are transcribed from official police files.

"We spent our marketing money on digital ads."

"Yeah, we sent email, but didn't know it was all flagged as spam."

"We quit phoning members twenty years ago."

"We quit sending direct mail twenty years ago."

"Games? Don't believe in them! Our members are serious."

"Humor? Don't believe in it!"

"Fun. Don't believe in it!"

"We never thought about authenticity. What is it, anyway?"

"We didn't change with the times. It costs too much."

"We ignored everyone under 40."

TAKE A BITE OUT OF CRIME. 

Download Growing Your Event: 10 Magic Bullets for 2018. 

It's yours free, courtesy Bob & David James.

And have a Happy New Year!

Why are Events Attracting Publishers?

While events are no easy money, publishers are onto them like white on rice.

Digiday reports that Forbes, in a move "symptomatic of an industry in change," is shifting from magazine to event production, firing print people and hiring event ones.

"Forbes’ struggles aren’t unique, given the carnage that befell both traditional and digital media outlets in 2017," Digiday says.

What's behind the carnage?

A new study by Reuters suggests readers are done with digital content—there's too much of it, both good and bad—and that content shock is slaying the golden goose digital publishing represented 20 years ago.

Today's readers spend only eight minutes a day on publisher's content—and most (92%) are  unwilling to pay for it. That's made it nearly impossible for publishers, reliant on advertising income, to sustain profits—no matter their investments in cool platforms and reputable content.

"The content bubble will eventually burst unless more robust business models are found," says Rasmus Kleis Nielsen, coauthor of the study.

One "more robust business model" may in fact be events, where margins hover around 30%.

Events No Easy Money

Disneyland is a work of love. We didn't go into Disneyland
 just with the idea of making money. 

— Walt Disney

Publishers find events alluring.

According to Hubspot, 26% of B2C publishers and 42% of B2B publishers say they're today's fast-growth revenue stream.

And why not? The publishing business model and the events business model seem quite similar on the surface.

But any resemblance is deceiving.

“Events are not the golden goose publishers think they are,” one publisher recently told Lucinda Southern, reporter for Digiday. "Events work when it fits into the publisher’s key interest areas, passion points and depth of knowledge.”

"Publishers are not just competing with other events companies, but any content provider or brand that claims to have a route to consumers," Southern writes. "Making money from events often requires a dedicated team and a different set of skills when selling event sponsorship packages."

Among the pitfalls:

• Events have sizable sunk costs (venue rental, speaker fees, marketing expenditures, etc.) absent in publishing.
  
• Sponsorship sales are tougher than ad sales. Salespeople need to understand event operations and must close sponsorship sales faster, often with non-advertisers. There's also more difficulty proving prospects' ROI.
  
• Events aren't a "bright and shiny" channel. They look old-school next to the latest digital "solution."

“They say events are like a sausage, wonderful to eat, but you don’t want to get involved in what goes into them,” another publisher told Southern. 

“You have to love the complexities, the highs and lows, embrace that passion. Publishing companies that dabble will not succeed.”

More on James' Hierarchy

A colleague asked me to rate his organization's events on the 5-point scale I proposed earlier this week.

The events are among the most important, prestigious and successful in the market they serve.

That understood, I gave them a single star.

To recap the rating system I proposed: 

• 1-star events focus on everyday needs, satisfying attendees' needs to navigate without stress through physical space; meet other people and chat; acquire useful information; and talk business.

• 2-star events cater to fantasy, satisfying attendees' needs to lessen anxiety and escape reality.

• 3-star events provide cheap thrills, satisfying attendees’ needs to be wowed and titillated.

• 4-star events provide genuine thrills, satisfying attendees’ needs to be awed by proof of human ingenuity and displays of daring.

• 5-star events focus on melioration, satisfying attendees’ needs to improve not only themselves, but to better the lives of others.

If you are honest about your own event and can at best award it one star, remember that to earn a 1-star rating from Michelin, a restaurant has to represent, “A good place to stop on your journey, indicating a very good restaurant in its category, offering cuisine prepared to a consistently high standard.”

Even celebrity chef Gordon Ramsay’s restaurants all don’t have a Michelin 1-star rating.

Advice to CES: Add a Super Keynote

The producers of North America's largest B2B event, CES, are in the hot seat.

Seems they neglected to include any women in the lineup of keynote speakers at next month's show. The error was compounded when a spokesperson answered hostile critics by saying none was qualified, and blaming the paucity of women leaders on the tech industry.

The fact that CES has featured 21 women keynoters in the past 11 years escaped notice.

My humble advice to CES: add a super keynote (and make sure she's a she).

Words aren't your ally in this case, so quit relying on them.

Actions speak louder.

James' Hierarchy

Like gourmands, event attendees crave a "5-star" experience, and event producers should want to deliver one.

But how do you define a 5-star experience? Or, for that matter, a 1-, 2-, 3- or 4-star one? 

To my knowledge, nobody's offered a definition. So I will.

With a nod to Abraham Maslow, James' Hierarchy of Experiences presupposes:

1. Experiences can be categorized by their capacity to fill attendees' needs, and
   
2. Experiences can be ranked hierarchically.

So, from the bottom to the top, here goes:

Everydayness. This term characterizes the experience delivered by the vast majority of successful events; cribbing from restaurant-rating systems, you might label them "1-star" events. Events in this category more or less satisfy attendees' basic needs to (1) navigate without stress through physical space; (2) meet other people and chat; (3) acquire useful information; and (4) talk business. Of course, many events don't meet even this rock-bottom standard: their signage is inscrutable; they over-schedule attendees; they make every session a panel; and they treat suppliers like lepers.

Fantasy. This term characterizes "2-star" events like Mardi Gras, Coachella and Fantasy Fest. Events in this category fill not only attendees' everyday experiential needs (to navigate, converse, learn and do business), but their next-level needs to lessen anxiety and escape reality. Disney has mastered the delivery of such experiences. The more event producers can emulate the company, the closer their events will advance toward "2-star" status. Virtual reality is a quick and dirty way to accelerate that advance.

Cheap Thrills. This term characterizes "3-star" events like Comic Con, Burning Man and Bike Week. Events in this category fill not only attendees' everyday needs and their needs for fantasy, but their needs to be wowed and titillated. Remarkable stunts, goofy sideshows, celebrity appearances, and novel tchotchkes abound at events in this category. Every producer should strive to produce an event that delivers cheap thrills; few do.

Genuine Thrills. This term characterizes "4-star" events like CES, Sundance, and the Indianapolis 500. Events in this category fill not only attendees' everyday needs, their needs for fantasy, and their needs for cheap thrills, but their needs to be awed by (1) proof of human ingenuity and (2) displays of daring. The delivery of genuine thrills is the reason the Colombian Exposition, The 1964 New York World's Fair and the 1992 Summer Olympics made the history books.

Melioration. This term characterizes "5-star" events like TED, SXSW and the Aspen Ideas Festival. Events in this category fill all of attendees' needs, including the very highest-level ones: to improve not only themselves, but to better the lives of others. Maslow would call it self actualization.

NOTE: The term everydayness is borrowed from the philosopher Martin Heidegger; and melioration, from the philosopher William James (alas, no relation).

Marketing Misfires are Maddening

Old-line retailers are deluging holiday shoppers with irrelevant emails this season, The Wall Street Journal reports.

Among other misfires, retailers have been promoting luxury underwear to broke college kids and women's clothing to men.

"Retailers have their work cut out for them when it comes to customizing and personalizing their email offers," the paper says.

So do many event marketers.

They're swamping attendees' in-boxes with vague offers of "must-attend" conferences.

Attendees are growing angrier and more resistant by the day.

The counter-move is targeting, and you shouldn't be surprised if 2018 turns out to be the year event marketers mastered it. 

The stakes are too high to do anything less.

Targeting demands not only that you segment your lists, but that you think hard about the relevance of your value proposition, and its expression. Can you:

• Distill your value proposition? Can you convey is a few short, simple sentences why anyone attends your event? Can you make the sentences memorable?
  
  
• Capture the message in a Subject line? Can you convey that value in 10 characters?
  
  
• Personalize the email? Can you avoid sending generic emails? Simply including the reader's name in the Subject line boosts open rates 26%.
  
  
• Assure readability? Can you design emails that encourage speed-reading and comprehension (especially on a mobile phone)?
  
  
• Leverage your content? Can you put content and speakers center stage? Will attendees meet celebrities, thought leaders, and influencers at your event?
  
  
• Provide social proof? Can you persuade readers they'll miss opportunities others enjoy by attending your event? Dropping names and including testimonials do this.

Who Attends B2B Events?

According to American Express' 2018 Global Meetings & Events Forecast, five kinds of folks show up at B2B events.

Knowledge Seekers. These attendees want to improve themselves. Content and speakers drive their decision to show up. To woo them:

• Target your content to them
• Invest in a high-profile speaker
• Offer lots of choices
• Provide for note-taking and session-materials archiving in your app
• Offer creative meeting-space set-ups
• Include sessions that feature attendee-speaker interaction
• Provide great post-event information

Tech-Savvy Networkers. These attendees value relationships. The volume of opportunities to connect drives their decision to show up. To woo them:

• Include features in your app that ease connection
• Gamify your event
• Provide tons of networking sessions
• Offer speed networking sessions
• Supply the attendee roster before the event
• Keep conversations going post-event

Inspiration Seekers. These attendees crave purpose. The volume of experiences drives their decision to show up. To woo them:

• Include motivational speakers and self-help and coaching sessions
• Offer brainstorming and co-creation sessions
• Offer chances to become immersed in the destination
• Use alternate venues that remove them from the traditional one
• Offer community outreach or CSR experiences

Social Butterflies. These attendees love meeting new people—and sharing the experience. The volume of meet-ups drives their decision to show up. To woo them, you should:

• Offer tons of opportunities for interaction in breakout sessions
• Offer informal meal settings, to encourage socializing
• Pack your event with entertainment and leisure activities
• Ask Social Butterflies to be your advisors
• Give them opportunities to be influencers through your app

Reluctant Attendees. These attendees are introverts. Professional obligations—and nothing more—drive their decision to come. To woo them:

• Make the professional benefits of attending clear in promotions
• Offer ice-breakers early during the event
• Include lots of breakout sessions
• Point out content that is forward-thinking or research-based
• Include ample free- or down-time
• Include a recommendation engine in your app
• Provide a virtual version of your event

Brand Fanatics. These attendees are devoted followers. Opportunities to get the "inside scoop" drive their decision to attend. To woo them:

• Include plenty of gadgets
• Provide access to key brand representatives
• Offer chances to win exclusive merchandise and experiences
• Provide product demonstrations and early access to new products
• Hold focus groups to allow them to share their insights and ideas
• Showcase the brand end to end

Events' Uneventful Downfall

Humankind's oldest, events remain, if not the cheapest, the best marketing channel.

But CMOs aren't keen on them, according to a report by The CMO Club.

While 7 of every 10 CMOs surveyed say events accelerate sales, 2 of every 3 say events aren't measurable; and 7 of 10 say events' "accountability gap" throws into question the event spend.

The accountability gap "creates challenges at budget time when the funding decisions are being made about events," according to the report. 

"While events are deemed critically important, they often lack the supporting financial data to objectively prove their value. Compared to other components of the CMO’s marketing mix that have become more sophisticated in measuring ROI, event marketers are lagging in their ability to connect the dots between activities and demonstrated results."

The accountability gap also makes choice difficult―the chief reason companies exhibit in the same events repeatedly, complaining all the while about lack of ROI.

What's a marketer to do? The report suggests you should:

Set unique goals for each event. "Not all events have the same purpose," the report says. "Some are designed to generate new leads and accelerate opportunities currently in the pipeline, while others are focused on strengthening relationships with key customers and gaining feedback to improve how marketers can better respond to their needs." Setting unique goals "will create a foundation for capturing the appropriate data to analyze the events against the stated objectives."

Create unique plans for each event. "Silos" often prevent cooperation between marketing and sales, pre-, at-, and post-event. Preparing written plans will knock down the silos and encourage both groups to capture relevant data.

Deliver an experience. This is mandatory. Quit simply checking boxes. Pick up the phone and call people before every event, be ready with a strong value proposition, and deliver it on site. If your event isn't an experience, it's a waste of time.

Feed your marketing automation and CRM systems. "Rarely are events judged on the revenue produced at that event," the report notes. "Opportunities discovered at the event take time to close and require significant post-event nurturing from marketing and follow-up from sales." Unless you import event data into your marketing automation and CRM systems, you can't track results.

Measure both activities and sales impact. Data captured at events should demonstrate ROI, not just reflect a bunch of activities. Ask your CMO to help you create C-suite-appropriate reports.

If events don't become a measurable marketing channel, they'll continue to be seen as a grievous expense, rather than an income-producing asset, the report concludes.

That could be their downfall.

Event Marketers Missing the Boat

When it comes to leveraging attendee data, event marketers are missing the boat, according to a new study by Cvent.

The company asked 400 of them what they believe:

• Only 29% say they're good at collecting attendee data
• Only 20% say they're good at integrating it into their systems
• Only 23% say they're good at using it
• Only 38% say they understand what attendees do on site
• Most―75%―say they're missing opportunities by not integrating more attendee data into their efforts

It's not as if nobody cares. 

Among event marketers, 81% say collecting and harnessing attendee data is "extremely important."

Should Event Producers Mimic Luxury Retailers?

Luxury retail is dog-eat-dog. Unlike event producers, players in the business must stay ahead of audiences to survive. That's why they're hyper-focused on consumer trends.

Sabre identifies five of those trends in a new report, The Future of Luxury.

To survive in luxury retail, the report says, you must satisfy "individualized and transformative forms of luxury consumption" that deliver a cosmopolitan and existentialist jolt.

"More consumers are becoming aware of the isolating effect of social media ‘echo chambers.'" the report says. "This is accompanied by a growing desire to not only broaden personal horizons, but to find purpose and cultivate empathy for others while doing so."

Consumers' craving for self-actualization manifests itself in these five trends—five trends event producers would do well to acknowledge:

The Quintessential Self. Luxury brands that abet self-discovery are hot. For just $3,500, Maverick Helicopter’s Yoga in the Desert will whirl you by helicopter from Las Vegas to Valley of Fire State Park for a 75-minute yoga class.

No-Frills Chic. Luxury brands that shout "simple" are hot. For just $140,000, Airstream will sell you a camper trailer you can haul into the woods.

Premium Redeemed. Luxury brands that better the planet are hot. For just $2,125, you can stay a night in Nekupe, a posh resort in Nicaragua’s countryside that helps local farmers earn a living without the slash-and-burn technique.

Extravagance on Demand. Luxury brands that harness phones are hot. For just $3, Recharge lets you book a high-end hotel room in New York City by the minute.

Customized. Luxury brands that are personalized are hot. For just $169, DNA Unwrapped lets you plan vacation trips based on your chromosomes.

Sponsors Want Spillover

Rigid thinking causes most trade show organizers to continue peddling sponsorships like they were ads, when today's sponsors want something much more valuable.

Sponsors want spillover.

Spillover results when attendees transfer their good feelings about an event to its sponsors―an effect no ad can produce.

While today's marketers believe awareness―the outcome of advertising―is hard to measure and cost-justify, they don't feel that way about engagement―the outcome of sponsorship.

Today's marketers will sponsor an event to engage people within communities; to build relationships and demonstrate market leadership, customer care, and social responsibility. 

They'll even do it merely to block a competitor from doing it.

But they won't sponsor an event for awareness.

How to Name Your Event

My business partner and I are at work on a new name for an event. The conference has outgrown its birth name (as every conference should). It's time for something different.

My standards for a good event name are few:

• It should be descriptive ("The Builder's Show") or evocative ("Magic"), or both ("Dreamforce")
• It should be short ("CES")
• It should be enunciable ("TED")

Event marketer Tony Patete has more complex standards:

• It should be straightforward ("The Startup Conference")
• It should be a keyword ("INBOUND")
• If an acronym, it should not spell anything unseemly ("TURD")
• It should avoid braggadocio ("The Best Conference Ever")
• It can be a portmanteau ("ComicCon")
• It can both evoke and amuse ("Brand Camp")
• It should not already be in use ("Apple")

Naming or renaming an event need not be hard. I once renamed a puny conference with the laughable name SCUC (Satellite Communications Users Conference) using only my delete key. Today "Satellite" attracts over 13,000 attendees.

When your event's name doesn't cut it, a tagline can help. While no cheerleader for taglines, B2B marketer Gary Slack agrees:

• A tagline can help explain what is new, unknown, or poorly named
• A tagline can help communicate purpose, difference and value
• A tagline can foster esprit de corps

Slack has his own simple set of standards for a tagline:

• It should be necessary in the first place; otherwise, it's clutter
• It should clearly communicate a strong promise
• It should avoid corporate speak and pedestrian "happy words"

One of the better taglines I ever wrote was for CES: "What the World's Coming To."

Although lots of folks liked the slogan, it lasted only a year.

A newly appointed marketing director killed it, telling me, "Taglines are stupid."

He lasted much less than a year. But the tagline never resurfaced.

How Do You Reach C-Level Buyers?

A C-level buyer, Trisha Winter plays hard to get.

"Speaking as a B2B buyer, I don’t answer my phone anymore," she writes in Business to Community. "I don’t read cold emails—in fact, thanks to overcoming 'inbox zero' tendencies, I don’t even take the time to open/delete them anymore. I used to, but with the insane influx of new technologies geared toward marketing, too many people were trying to reach me pushing their 'life-changing' solutions. It was too much noise, and it wasn’t sustainable if I wanted to get my job done."

Winter wonders if any marketing tactic works with C-level buyers—executives who are so brutally busy, they're "forced to completely ignore the noise."

She rules out the top two contenders.

Content. Content marketing doesn't work, Winter says. Although it could be effective, most content is "fluff" no one ever sees. "Even if you create the perfect piece of content, you are still just crossing your fingers that it reaches me," she says. "For content marketing to work, it has to be combined with influencer marketing to have a hope of getting in front of the intended audience."

Trade shows. Exhibit marketing doesn't work, either, Winter says. "I do attend some trade shows, but I won’t stop by your booth unless I’ve heard of you and have identified that you meet a need or solve a problem I have," she says. "Which means trade shows don’t work for top-of-the-funnel lead generation. And let’s face it, TOFU leads are way better than BOFU leads because you can shape the deal without competitors."

So what works?

Account-Based Marketing. "If a seller is researching me, engaging with me in social media, learning about my business and personalizing their approach, there is a much greater chance they’ll get my attention," Winter says. "But remember, I don’t read emails nor answer my phone, so direct mail and social media are the only options here."

Referral Marketing. "As a buyer, there is no question that this is the most effective way to get my attention," Winter says. "If I’m approached by a former colleague or a trusted adviser (like a salesperson from a vendor I have a good relationship with), I pay attention. If they tell me there is a solution out there that could solve my problems, I’m clearing my calendar to take a meeting."

Winter recommends combing both tactics.

But what if you could combine all four?

That's the philosophy behind PLAYBOOK, a lead-gen system my business partner and I have created.

PLAYBOOK—using a combination of direct mail, email, telemarketing, and an app—allows marketers to target trade show attendees with offers compelling enough to attract them to an exhibit. It also helps them motivate salespeople to chase and close deals immediately after the event—the Achilles Heel of exhibit marketing.

We're ready to assist any marketer eager to reach those hard-to-get buyers like Trisha Winter.

Just give us a call.

Capital Mistake

You can dress up greed, but you can’t stop the stench.

― Craig D. Lounsbrough

This weekend, I "worked the booth" at the Capital Home Show on behalf of a remodeler, greeting visitors and cultivating leads.

While discussing a deal with another exhibitor, an overly dressed exhibit salesperson (the show manager, nonetheless) appeared suddenly and broke into our conversation, demanding to know why the exhibitor hadn't re-signed for next year's show.

When he said he was undecided, she proceeded to twist his arm.

I quietly left the booth, after a few minutes of the spectacle.

When I next saw the salesperson, I mentioned that she'd interrupted a deal.

"I thought you were just one of their staff," she replied, without apology.

If you sell anything—whether booths, biotech, or blockchain—putting your aims ahead of customers' is a capital mistake.

It may, in fact, be the chief reason most customers detest salespeople.

DiscoverOrg recently asked 230 customers how they feel about B2B salespeople. The answers are chilling:

• Only 18% think B2B salespeople are trustworthy
• Only 35% think they are likable

Chew on that, salespeople. Eight in 10 customers think you're dishonest; two in three, you're despicable.

Doctor, Doctor

Why do 7 in 10 B2B marketers say events are the very best marketing channel?

The answer's simple: ROI.

Events routinely deliver big brands 5X ROI; small ones, 3X to 5X ROI.

"In-person events simply have more impact than all the social media posts and email newsletters in the world," says Michael Brenner, CEO of Marketing Insider Group.

Events allow you to generate leads and close sales; connect with buyers' emotions; expand your community; drive social media engagement and website traffic; and create months' of newsworthy marketing content.

But as importantly, Brenner says, events let you diagnose the cause of buyers' pain.

For inquisitive marketers, chatting with buyers over coffee, recording their comments at conference sessions, or conducting surveys through your event app may be just what the doctor ordered.

"You may discover a problem with your product or service that is the root of unexplained customer churn," Brenner says. Just as likely, "You could uncover strengths you didn’t realize you had."

Is Your Event Profit Proof?

What's the "inconvenient truth" about selling online?

You'll go broke, says blogger Steven Dennis.

"Only a handful of venture capital-funded “pure-plays” have (or will ever) make money," Dennis says.

The rest (including Amazon) operate at below-average margins for the retail industry, amassing huge financial losses year upon year.

Of themselves, free shipping and liberal return policies guarantee these companies will remain "profit proof," Dennis says.

Worse yet: the cost to acquire a customer. When it comes to customer acquisition, web retailers suffer "diseconomies of scale," Dennis says.

"Many online brands attract their first tranche of customers relatively inexpensively, through word of mouth or other low cost strategies," he says.

But then, marketing costs start to escalate.

"As brands seeking growth need to reach a broader audience, they typically start to pay more and more to Facebook, Google and others to grab the customer’s attention and force their way into the customer’s consideration set," he says.

"Early on customers were acquired for next to nothing; now acquisition costs can easily exceed more than $100 per customer."

The higher the acquisition costs, the lower the gross margin on the resulting incremental sales, a dynamic that eventually lands the business in hardship.

Whenever I plan an attendee acquisition campaign for an event producer, I budget the marketing efforts using, give or take a few bucks, the same amount of money Dennis mentions—$100 per attendee.

Want 500 attendees? Plan to spend at least $50,000.

Some event producers balk—How can it cost so much?

But after more than three decades in the event-promotion business, working on events large and small and in a variety of industries and professions, I've found it a real-world rule-of-thumb.

And most producers who spend that kind of money on marketing can, in fact, run a successful event and go home with a tidy profit.

The "diseconomies of scale" only enter the picture when registration fees are low ; or when producers discount and give away registrations; or—the worst case—when admission to the event is free.

Of course, attendees are a necessary evil: without any, exhibitors have been known to complain. But they need not have "negative value" when registration fees are low (or nonexistent).

Attendees can be little ambling profit centers.

How?

Sell attendees livestreaming.

Events are cornucopias of content. When you capture that content on video, you can sell it to attendees for post-event consumption. None of them can be in two places at once, so none can possibly imbibe all the content you offer. What's more, every attendee loves to share good content with colleagues "back at the ranch." Why deny them that pleasure?

And why make your event "profit proof," when it can be enormously the opposite?  "Back-of-the-room" sales of livestreaming come cheaply, because attendees are already in your "store." The gross margin on the incremental sales you make will come at an extremely low rate—almost for free, if you already videotape content for projection purposes, as most producers do.

Want more food for thought? Check out my posts "Conference Planners: There's No Sin in Syndication" and "Just be Willing to Believe."

NOTE: CEIR reports that average attendee-acquisition costs currently range from $14 to $20 per person. But I don't believe the figures are reliable. My own past research, done in the 2000s, showed acquisition costs to range from $68 to $80 per person. CEIR's report, nonetheless, can help any producer get a grip on event-industry spending trends, and is worth studying.

Event Producers: Bodies at Rest

A body in motion stays in motion; a body at rest stays at rest.

— Isaac Newton

Most B2B events are tired, creaky and ridiculous. And it's no accident.

Most event producers are lazy.

Decades of easy money have made them that way.

That's not to say they're the only lazy businesspeople you'll encounter.

Laziness surrounds us—and runs rampant in industries where easy money once was made. Banking. Stock trading. Real estate. IT. Retail. Advertising.

Ad exec Mitch Joel—who calls laziness not sloth, but self-approval—laments what he sees in his own industry. "There is no doubt that certain strategies and tactics work, but it's the lazy mentality that has got me down these days," he says.

Folks in advertising, Joel says, are allergic to "long, hard and disruptive work." They're unwilling to wake up in the morning and say, "Today is a great day! We're going to destroy what doesn't work, test more things, tweak others, build newer metrics, and keep at it."

You might say they need some woke.

A lot of businesspeople need some woke. Instead, they're imbibing hype.

Hype is particularly dazzling to event producers, says event planner Warwick Davies, who's down on the hype-of-the-month: event tech.

Event tech promises panaceas, but really offers little more than quick-fix "gimmicks," Davies observes.

Gimmicks won't resurrect a dead event.

"Sure, there are some tools and processes which will make your event more efficient and easier," Davies says, "but none will fix an event which is poorly conceived, researched, and not wanted by your prospective audience."

No silver bullet can substitute for long, hard. disruptive work.

"If your philosophy about how to create a valuable event is wrong, there’s no amount of technology that is going to save you," he says.

Why are Conferences Dying?

Millennials are killing dozens of industries, according to Business Insider.

"Psychologically scarred" by the Great Recession, their wayward generation is boycotting:

• Retail outlets like banks, department stores, and home-improvement outlets
• Chain-restaurants like Applebee's, Hooters and Ruby Tuesday
• Groceries like beer, cereal, and yogurt
• Household goods like bar soap, fabric softener, and napkins
• Sports like pro football, golf, gyms, and motorcycles
• Luxury items like diamonds and designer handbags

Will conferences be next?

Many industry watchers predict so; and some producers are clearly anxious, if this ad's any indicator:

But for the scrappy producer, as Mark Twain said, "the reports of my death are greatly exaggerated."

That breed of producer is testing the participatory "unconference," embracing the design ideas of trailblazers like Adrian Segar.

Segar insists old-school conferences "unconsciously promote and sustain power imbalances"—imbalances anathema to new audiences, who crave equality opportunity with producers and presenters to influence outcomes.

The power imbalances stem from producers' "underlying belief that when you lose control everything turns to chaos," Segar says.

"Meeting stakeholders and planners typically subscribe to this viewpoint because they can’t conceive of (usually because they’ve never experienced) a form of meeting that successfully uses a different kind of power relationship."

It's high time conference producers abandoned that viewpoint.

Or it's Goodbye, Ruby Tuesday.