We’ve been hearing more and more that we’re leaving the Information Age and transitioning into the Age of Experience. I like that. Especially as it relates to meetings and events. I mean, meetings and events are experiences that have the ability to bring energy, life, new ideas, innovation and so many other benefits to individuals. So this new focus is bound to be healthy for our industry.
In a recent blog post, Timothy Bowman of Revel Foundry, writes:
“Research is showing a significant shift in how retailers must differentiate from competitors in order to earn and keep loyal customers. The sudden rise of social media, online personalization, location-based services and connected devices has led to what Revel has declared “The Age of Experience.” It was preceded by the Age of Manufacturing, Age of Distribution and most recently the Age of Information ‑ in which the Internet made gathering, mining and sharing customer data easy, inexpensive and ubiquitous.
The Age of Experience is revolutionizing the way retailers must think about engaging with customers. Data and research demonstrates an engaging, intuitive customer experience drives increased loyalty and a rise in perceived value. And, surveys show customers are willing to pay a premium for a better customer experience.”
Substitute the word “Retailers” with “Meeting Planners”, and “Customer” with “Participant” and this statement becomes just as relevant for the meetings industry as it is for the retail sector.
As Planners compete for the time and attention of participants when marketing your events and executing your meetings, what tools will they use to improve the experience? What will YOU do to stand out?
The Age of Experience concept helps explain the gold rush in the technology sector from companies wanting to help Meeting Planners wrestle with these questions. The level of innovation is unprecedented, with over 2000 companies with some sort of technology product, app, software or SaaS designed to solve problems for our industry. That’s a lot of options!
Meeting planners are in the catbird seat for the Age of Experience and can benefit in many ways from the new focus on events! Finding the right partners to help will be critical.