Visionaries Share How the Top 5 Global Trends will Impact the Meetings Industry
From the cover story Megatrends by Maxine Golding. Megatrends appears in the January 2008 issue of Convene Magazine, a publication for the Professional Convention Management Association.
Divining the Future.
Since no time machine yet exists to transport us into the future, the best we can do for now is consult a stellar group of visionary thinkers. On the following pages, ten thought leaders join ten meeting professionals in tackling five major issues of the early 21st century and their impact on the meetings marketplace: Globalization, technology, consumer empowerment, diversity and demographics, and social responsibility and the environment.
This is just the information you'll need to jumpstart brainstorming and planning for 2008 and beyond. Convene is proud to present it to readers as we debut our first-ever January issue. The meetings industry at midpoint 2007 couldn't have been better. The Center for Exhibition Industry Research (CEIR) reported terrific second-quarter numbers that were expected to continue trending "up": Revenues up more than 11 percent over the same quarter in 2006, attenDance up 13.5 percent, the number of exhibitors up 4.5 percent, and net square footage up 3 percent.
This is just the information you'll need to jumpstart brainstorming and planning for 2008 and beyond. Convene is proud to present it to readers as we debut our first-ever January issue. The meetings industry at midpoint 2007 couldn't have been better. The Center for Exhibition Industry Research (CEIR) reported terrific second-quarter numbers that were expected to continue trending "up": Revenues up more than 11 percent over the same quarter in 2006, attenDance up 13.5 percent, the number of exhibitors up 4.5 percent, and net square footage up 3 percent.
Still, only one thing remains certain: change. It keeps coming, and at a blistering velocity. Still, technology has untethered us from desks. We get information where, when, and how we want it at ever-lower costs and with ever-smaller devices. This seems to portend the demise of face-to-face engagement. But with a nod to Mark Twain, the reports of the death of meetings remain greatly exaggerated.
"Real-time meetings will be peak experiences along a continuum," according to Jeremy Rifkin. "Engagement and education, though, will be continuous and ongoing. This doesn't overburden people who are time-starved, and it makes the peak experiences more meaningful." Read on. We guarantee that this is one report you will not put down. - Maxine Golding
Rich Kizer & Georganne Bender . KIZER & BENDER Speaking!
Speakers, Authors, Retail Anthropologists, and Experts in Generational Diversity http://www.kizerandbender.com/
What do you see coming in demographics?
K&B: We are a country of opposites: 73 million Millennials are aged 25 and younger, and 140 million are 50-plus. This will have a huge effect on everything we do going forward. The first challenge is meeting the needs of the Millennials. They have never known a world without computers or the Internet. They have a huge ability to multi-task and tend to get bored easily. Can you see why a training session for Baby Boomers can put a Millennial to sleep?
What is their impact?
K&B: They're coming into the workplace and changing the way we do business. Millennials assimilate well if they understand the parameters. They're great team players, love to participate, and love education. And they are predicted to be lifelong learners.
But instead of linear thinking - A to B to C - a Millennial's thought process moves randomly among a series of points before integrating into a conclusion. This all-over-the-place thinking allows them to process and absorb information faster. It is also likely to drive the rest of us crazy. You don't have to be the same age to connect with them, but you can't fake it either. Every company and organization needs a vice president of pop culture.
But instead of linear thinking - A to B to C - a Millennial's thought process moves randomly among a series of points before integrating into a conclusion. This all-over-the-place thinking allows them to process and absorb information faster. It is also likely to drive the rest of us crazy. You don't have to be the same age to connect with them, but you can't fake it either. Every company and organization needs a vice president of pop culture.
What is the second challenge?
K&B: Accommodating the Zoomers (50-plus younger Boomers). They are in the prime of their lives, healthy, happy, and far richer than any other generation. They don't look or act old, but have special needs they won't ever tell you about. We haven't yet seen many hotels or convention centers make changes, but we are slowly seeing retailers accommodate older customers: larger parking spaces, larger labels, wider aisles, non-skid floors, places to sit down, shopping carts with built-in seats and brakes to keep them steady.
We recommend businesses place baskets of reading glasses in various magnifications at registration areas and service counters. Pump up the type size in signage, brochures, newsletters, and other point-of-purchase materials. The lighting in convention center and hotel meeting rooms is not as accommodating as it needs to be.
How are organizations adapting to demographic changes in their customers and the workforce?
K&B: Businesses cannot afford to be arrogant and think they know what's best for their customers without asking them. Advisory boards that are made up of your ultimate consumer are a good idea for every business. If you want to get it right, you have to go to the source.
There's no wiggle room here: What works for one generation is Kryptonite to another. If you say to a Zoomer, "We need to think about completing this project," the Zoomer will complete the project. Say the same thing to a Millennial, and he or she will think about it, which is what you said. We can all get along famously if we just take a little time to explore what our customers want and give it to them just that way!
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