Top 5 MICE trends for companies planning business events 2020
Afterword of the largest business event conference in Eastern Europe MICE Business Day Budapest 2019, 11-12 November, 2019
According to Allied Market Research, the MICE (Meetings, Incentives, Conventions, and Exhibitions) events industry is growing globally at about 4% annually, with experts anticipating it to reach $ 1,439.3 billion in 2025.
Unfortunately, we do not yet have official data or statistics on the business events industry in Ukraine. But based on the increased number of MICE requests from companies in Ukraine and projects that our agency has held in this segment the number has raised at around 15% in 2019 compared to 2018. In addition, according to the feedback from our colleagues from other agencies it seems that Ukraine does not lag behind and keeps up with the world’s pace.
But. But. But.
You might think business events are a totally dull but that is very wrong.
In the business industry, the pace of a segment growth is first and foremost a reflection of industry productivity, by reason of business and business clients being the engine of progress, the ambassadors of innovation, and the leading initiators of economic advancement and change. Therefore, world business congresses, conferences, forums, small and large business events are places where ideas and business concepts are being born, sold, demolished, re-established, where brands fates are being determined. Consequently, business events serve as the trendsetters for other formats of the vast event and entertainment industry.
In case of the event being inefficient it will not bring neither money, nor new opportunities, nor success for the organizers, participants, or company owners, if it is an internal corporate event.
Therefore, productivity was NUMBER ONE topic discussed at the conference. Although it happened in speed meeting mode and a section of presentation or experts giving speeches were not there, live communication with industry representatives from more than 15 countries of Eastern and Western Europe became crucial to understand and identify key trends of fruitful business activities that should be taken into consideration when planning your business events in 2020, unless, of course, you want to waste your money.
Trend # 1. STORYTELLING. NARRATIVE EVENTS
It sounds strange as it seems that storytelling and pragmatic business world exist in two different universes. But it is no longer enough to send a dreary invitation with plain description of the benefits one might experience if attending your congress or to place a minimalistic picture on the events programme. There must be a story that the event is conveying, a story that participants could take with them or share on their Instagram. For instance, like on the annual Web Summit in Lisbon. The Red Ocean of business congresses and forums requires creativity.
And for corporate or client events, this is generally a NUMBER ONE trend.
Without a good story, it is difficult to build emotional relations.
Trend # 2. MOTUS FOR RATIO OR EMOTION AS THE 5TH ELEMENT OF SUCCESSFUL EVENTS
Emotions are an integral part of any event and it has always been so.
But now business events are becoming motivational events, incentive events.
Rational business part the first part or the first 1-2 days, the second part or days 3-4 are rooted in pure emotions – gourmet, wine tours, shopping tours, art, afternoon and evening entertaining programmes, enough free time for personal matters.
Business is business, but emotional satisfaction and happiness of the participants become one of the main criteria for successful growth of a company or its project. Life balance in action.
Trend # 3. LOCATIONS – HISTORY
We all know that the right venue constitutes almost 50% of any events success. Location, space, environment, amenities, equipment – all of these things matter.
But here’s even more. Cold dull hotels are greetings from the past. Place should be part of your event history, location should offer something that will be remembered forever in the hearts of attendants or on their Facebook pages. For example, the President Hotel with the rooftop we stopped at or the VárkertBazár EventHall – hi-tech location with 1100 people that, at the same time, is an incredibly atmospheric, historical location on the bank of Danube river with a garden and 500-person banquet room. Or hotels situated in old castles in Slovenia, The Netherlands, the Czech Republic – it is clear that such locations bear history in themselves and conducting an event in such spaces becomes a good point of difference and part of the WOW effect of the event.
Trend # 4. GREAT EUROPEAN TRAVEL
Low-cost airlines and reduced prices on air transportation as well as no visa policy for the Ukrainians changed completely not only the tourism industry, but also the whole industry of business events and travel. It takes 1.5 hour flight to get from Kiev to Budapest, one hour to various cities in Poland, to Vienna only 2 hours.
EU companies generally arrange their external and internal corporate activities in any part of Europe, and there is even such a new tendency among Germans and Austrians to organize corporate events in Slovenia, the Czech Republic or Hungary as it is not far to travel to, while being cheaper and more memorable.
Traveling to another city is always out of the box experience in terms of both physics and emotional component. Therefore, business owners and top managers prefer to have strategic meetings or decisive events outside the convenient for people spaces. Change of settings opens up opportunities for creative thinking. A corporate event in an uncomfortable, uncommon space or in another country can have a tremendous impact on the team or clients and deliver great financial results.
In other words – everyone travels. Prices in Eastern and Western Europe do not diverge that much with figures in Ukraine.
Hopefully the improvement of domestic air transportation in Ukraine and the work of Ukrainian Railways will bring us closer to the introduction of MICO in Ukraine – the GREAT UKRAINIAN TRAVEL trend.
Trend # 5. CARING ATTITUDE
Caring attitude to all is actually a global trend in most social and economic sectors. Careful treatment of nature and historical sites, conscientious use of natural resources, use of eco or recycled materials, paperless events, use of farm products, eco-hotels, eco-car rental, use of efficient LED lighting.
And if in Ukraine this approach is only gaining dynamics, in Western Europe, on contrary, careful attitude is an essential part of business events industry.
No matter where, when, and how you are planning your business event in 2020, create effective and emotional events and let the trends be your guidance for that.
Author: Marina Ilchenko, Marketing Manager at Bee Bee Event Agency
This article was published in delо.ua
MICE (Meetings, Incentives, Conventions, and Exhibitions)
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