We’re in a world where streaming events have become the temporary standard, although there’s an increasing expectation that hybrid events will become the new norm when the coronavirus pandemic passes and in-person events are allowed again.
In other words, if you’ve been looking at virtual events as a temporary nuisance or disruption to how you conduct business, think again. They’re not going anywhere anytime soon. That’s a good thing for AV integrators and live events professionals, says business consultant Tom Stimson.
“The digital transformation is happening,” Stimson said today in the penultimate episode of his 20-week webinar series, “The Show WILL Go On,” with this week’s session focused on streaming events.
“There’s going to be a streaming component to what we do for the foreseeable future and probably forever.”
Stimson shared statistics that showed about 87 percent of business organizations have canceled in-person events because of the COVID-19 outbreak, while 70 percent have moved at least part of their scheduled in-person events to virtual events and two-thirds of planners have postponed events.
Still, about 45 percent of event organizers worry they won’t be able to generate revenue from virtual events and one-quarter of survey respondents are worried virtual events will cannibalize their in-person audiences if they retain them in the future.
Related: Why InfoComm 2020 Connected Virtual Model Has Staying Power in AV Industry
“Every in-person encounter today has a digital component—and that’s where we add value,” said Stimson. “Six months ago, none of us imagined we’d be going down this path, but now it’s where we are.”
Customers these days are fishing, said Stimson, in the hopes of defining a scope of work, trying to figure out a price and to see who knows what they’re doing.
“They’re fishing for information so they can find the company to get them where they need to be,” said Stimson.
Many companies these days are dealing with activity with no outcomes, such as unconfirmed proposals, false hope, a client who learns nothing and a seller who gets nothing. While this is a common occurrence among integrators, it’s more unusual for live events pros, said Stimson.
Benefiting from Streaming Events
There are also companies making what he called unanswered offers, such as “we built a studio,” “we do streaming,” “we can help” and “we have a cleaning protocol,” said Stimson, and that approach is largely falling on deaf ears.
“We have to provide the how so the what looks possible,” said Stimson. It’s important to focus on marketing if you expect to generate sales, he said.
When you educate the buyer, you can match your resources to their needs. You should also try to make the buyer comfortable and be sure to connect the right solution to their needs. Stimson developed a road map to help live events pros and integrators more quickly and fully help their customers.
“You have to ask yourself how many steps you have before you get to a proposal,” he said. “Meet the customer wherever they are on their knowledge. Don’t give them more than they need either. You want to get them to the point where they’ll engage with you again.
“None of the products and services we provide matter until we understand what customers want. Don’t worry about all the things you don’t know. It’s important to focus on your capabilities. The more you talk to the customer and guide them, the less they will talk to your competitors,” said Stimson.
