Roadmap for growth needed

New T3 Expo Survey released

Gwen Kaufmann - Friday, November 15, 2019    

Crowd
© Dimitar Belchev

According to almost three quarters (72%) of 100 association directors and CEOs surveyed by T3 Expo, the growth of trade shows is very important to the overall strategic plan within their organisations. Despite this, almost half (49%) do not have a strategic plan in place to achieve the growth they would like to see. Not having a roadmap for success likely means potential revenue is not being captured. Of those that do have a plan, 41% do not have metrics, with 20% of those with metrics not communicating them to staff. In sum, this means that more than 2/3 of respondents either don’t have a plan or don’t have metrics. “It is clear that having a strategic plan is critical to increase growth and revenue for the associations industry,” said Tim Heffernan, chief development officer at T3 Expo. “However, it is noted that nearly half of our survey respondents didn’t have a plan, and this was a deterrent to hitting their metrics and achieving their goals.” Trade Association executives said that their board’s first priority when assessing measurement was the number of attendees at a show, followed closely by net square footage sold. By a factor of 3:1, respondents said overall attendance was more important than qualified attendance. The majority of respondents also stated that reinforcing and building existing relationships was more important than making new contacts and sharing best practices.

SHARE THIS ARTICLE

Related Articles

Survey on the impact of mentoring

Being mentored is something that can have a huge impact on growing one’s talent and carving out a real developmental route in our exciting industry. These were the reasons, five years ago, that prompted Fay Sharpe, now Vice-President BCD Meetings & Events, to launch the Fast Forward 15 mentoring programme, a not-for-profit initiative for women in the events and hospitality industry.

Read more
La Rural and INFECAR sign cooperation agreement

La Rural Convention & Exhibition Centre Buenos Aires and the Trade Fair Association of the Canary Islands have signed a 5-year cooperation agreement

Read more
Healthy world visions in London

Following the success of the Plant Based World Conference & Expo in New York, organiser JD Events has announced the launch of Plant Based World Europe in London in 2020.

Read more

Most read articles

New waste disposal system

Sniec has launched an initiative to rid itself of the large volumes of waste generated by events

Read more
Economic impact of events

A new economic impact report has been jointly published by AEO, AEV, and ESSA defining and measuring the significance of exhibitions to the UK economy.

Read more
Support for Sustainable Development Goals

UFI has updated its database of initiatives and projects from the exhibition industry that support the Sustainable Development Goals of the United Nations (UNSDGs).

Read more

Categories and Tags

Markets | Practice | T3 Expo | Survey | Roadmap