Chief experience officer and owner of TCG Events, Cassie Brown, explains how recessions affect event planning trends. Key points from the Cassie Brown interview in Crain’s article about current trends:
Crains spoke with meeting-planner experts to determine the hottest industry trends heading into the new year. For budgeting, technology, F&B, venue selection, decor and content, here’s what to keep your eye on in 2020 and beyond.
Budgeting
While the economy has been humming in the U.S., economists warn that growth could slow down soon. Experts say this could have an impact on planner bottom lines.
“Many people are predicting a recession either at the end of 2019 or early 2020, if it hasn’t begun already,” said Cassie Brown, CSEP, chief experience officer and owner of TCG Events. “Events change during recessions. Budgets get smaller, some sectors stop entertaining. Things that are considered extravagant, like ice carvings and over-the-top centerpieces, disappear. During recessions, planners start hearing things like, ‘It needs to be nice, but not too nice.’”
Event Planning Trends: Technology
Brown points out the “paradoxical” nature of tech at events: “As planners, we want the event to be engaging, attracting people away from their cell phones. At the same time, we strive to create experiences that are Instagram-worthy, thus prompting guests to capture the event through their phone.”
This paradox creates a challenge: How can planners utilize technology to improve in-person engagement? One way is through augmented reality (AR), but experts note that it has yet to be employed effectively at scale. In 2020, look for that to finally change.
Founder and CEO of Kennedy Events, Maggie Braff, said: “Everyone is looking for ways to bring AR into events, but few are doing it in relevant ways that connect with the audience”. Yet in recent months, there have been some innovations that promise truly exciting opportunities to integrate the tech into events.”
Another tech innovation poised to become popular is using chatbots to answer frequently-asked questions before an event. Chatbots can reduce friction for attendees while freeing planners from having to respond to endless attendee queries. The meeting- and event-specific chatbot system Sciensio made a big splash at the Meeting Professionals International (MPI) 2018 World Education Congress Tech Showcase.
Wearable tech and RFID tags, such as“smart” watches, wristbands and badges allow attendees to easily deal with things like registration and payment. These will likely play a more substantial role in 2020 events, as well. This innovation, Brown noted, is a win-win: “Companies are provided with valuable data, and attendees enjoy the ease and interaction.”
Read full article below:
https://www.crainsnewyork.com/corporate-events-and-holiday-parties/hot-planning-trends-2020
