There is no question that the fallout from COVID-19 is impacting the global economy. From Madonna canceling the final dates of her ‘Madame X’ tour and Pearl Jam postponing their spring tour concerts, to the cancellations of Adobe’s annual conference and the total suspension of the NBA season, the impact of the coronavirus is significant and is not going away – at least in the short term. The list of cancellations goes on. Sporting events are playing to empty stadiums; universities on both sides of the nation are canceling classes and shifting to online learning for the rest of the semester. Countries, corporations, and individuals are limiting travel, implementing remote work policies, and building flexibility into work schedules. Eight states (so far) have declared a state of emergency and New York has sent the National Guard to quarantine parts of New Rochelle.
Spring is one of the event industry’s busiest times, and given the circumstances, it’s shaping up to be a gloomy season for sure. These cancellations are challenging our industry, and we must be flexible and adaptable as the impact spreads. How do you overcome such seemingly insurmountable disruptions? Here are some suggestions for handing the unexpected event strategy:
Make Your Approach Customer-Centric
It’s important to realize that you don’t have to think about canceling virtually every event, but rather evaluate the possibility of postponing events as needed. While it may not be necessary to postpone every event, carefully consider the well-being of your customers, exhibitors, and clients. Think about the long-term gains versus the short term but ultimately do what’s right for them. With current concerns, this will go a long way in promoting good will and keeping everyone healthy. If employees, guests, attendees, and sponsors are uncomfortable attending, then it’s time to postpone.
We need to have faith that our medical experts will resolve this crisis soon and that we can get back to some normality in the near future.
Be Flexible and Adapt – Take It Digital
What is the new normal? When things get tough, the best planners make things happen. COVID-19 may help accelerate those technologies which have been in the works that companies have been reluctant to try. It’s an opportunity to experiment with remote learning, virtual trade shows, and video conferencing.
Be adaptable and consider alternatives. Does it make sense to hold a virtual meeting? The same content, information, and key learnings can be delivered online with technology that still allows for online person-to-person interaction.
The money saved on facilities and utilities can be funneled into extra technology and data security. Provide participants with access to online networking events, allow exhibitors to have webspace, and capture as much data about visitors as possible. Allow them to use their conference badges to enter a webroom.
Don’t let your prep work go to waste. Consider a digital booth and invite customers and potential customers to visit and participate in a webinar, to share information and guidance that you would have shared at the event.
Think Long-Term with Unexpected Event Strategy Changes
Consider the COVID -19 crisis a speed bump and be sure to do what is best for the long-term success of your business. Even if you don’t want to cancel an event, attendance will be down. Is it worth the short-term gain that could impact your long-term business? When you shift your mindset away from cancellation and to postponing, you’ll be able to envision how a dismal spring 2020 may result in a very lucrative fall and busy 2021.
If you do plan to hold your event, this guide can help you determine how best to screen attendees.
Disaster Preparedness – Communicate with Stakeholders
We have never seen a situation create such an immediate waterfall impact on our economy. Business as usual is changing. Profit outlooks and revenue guidance are down. On March 10, Vail Resorts significantly reduced its revenue guidance as a result of COVID-19. As trade shows, conferences, sporting events, musical acts, and meetings are postponed, a measurable impact will be felt across other parts of the economy, including the hospitality industry. Airlines are reducing loads, Amtrak is cutting service, and the cruise industry is suffering debilitating fallout. Don’t panic when you see your 401k value drop or when you notice the amount of money leaving the stock market.
It may take some time, but things will recover. Our economy will adapt, and companies will become more agile and flexible.
Regardless of your decision to either cancel or postpone your event, communicate early and often with all stakeholders, including staff.
In recent years, planners have developed disaster preparedness plans for natural disasters, earthquakes, water main breaks, wildfires, and active shooters, and now, COVID-19. Force majeure is in full affect, and most companies are being flexible with postponements. It’s time to implement your disaster preparedness plan.
Communications should start as soon as a decision is made. What communication tools, resources, and protocols are you using to ensure everyone – from staff, sponsors, vendors, and attendees – is aware of the changes you are making to your event? Are you communicating through every possible platform and doing so early enough that hotels and travel plans can be adjusted?
Be at Your Best
Event planners never panic. Situations like handling and planning an unexpected event strategy is when we are at our best. Precautions are warranted – extra emphasis on cleanliness and safety, clear communications with attendees, and coordination with vendors is what we do every day.
No event strategy planning for 2020 could have predicted the number of events being cancelled or postponed because of the COVID-19 outbreak. We spent months preparing for events and within a few weeks, things have changed.
Provide proactive solutions to show leadership that events can adapt to changing times and continue to drive results. When the unexpected event strategy is required, we know how to respond.
Grow Your Events collaborates to develop an event plan that supports tangible, ongoing measurement, to justify event spends and deliver to your company’s bottom line. We bring a strategic approach to growing your events by developing an enterprise approach that standardizes processes, responsibilities, measurement, and results. If you struggle with event measurement and ROI, or you are faced with an unexpected event strategy change, let’s work together to grow your events. Request a free consultation