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IMEX highlights trends to note in 2016

December 14, 2015

IMEX highlights trends to note in 2016
What will be the trends and buzzwords in the world of business, in the meetings industry and in our lives in 2016?

Here are six ideas and trends identified by the IMEX team that are likely to be more evident and influential next year.

1. Personalisation – is this just the start?
CocaCola and Starbucks have already been using it, and McDonalds and British Airways have recently indicated that it is going to be part of their strategy: personalisation, described in December 2015 by leading UK marketing title The Drum as “one of the hottest topics in the marketing industry today. Consumers today are living seamlessly across different devices and platforms and today expect a highly personalised experience from brands.

In 2015, Gartner indicated that personalisation will continue upwards and reach its plateau in two to five years. This suggests that this flurry of activity is just a prelude to what may develop next year and beyond.

People like to be treated as individuals and like to be able to tailor how they are treated whether as an employee or as a consumer. This was recently highlighted in HR magazine: http://www.hrmagazine.co.uk/article-details/tailored-benefit-packages. Similarly IMEX has extended the options and flexibility of its hosted buyer programme to allow buyers more opportunities to tailor their experience at the show to fulfil their personal needs and interests.

2. Data and analytics – underpinning new marketing strategies
Data gathering and analytics that drill down into the behaviours of the individual and group are essential to personalisation strategies so, as a corollary of the growth of personalisation, there will be an increased focus on these elements. Digital marketing expert Mark Goddard in Forbes magazine says that in 2016, personalisation “will rely heavily on data integration and customer segmentation.” Also in Forbes magazine’s marketing predictions for 2016, Fintech expert Kevin Brown says: “Marketing and Data Science will be the new Dynamic Duo.

3. Being human
The continuing growth of the meetings and conference industry in an era when Skype and video conferencing are established reflects the essential importance and need for face to face contact.

Similarly, in contrast to the data driven approach, marketing expert Alan Hart, founder of marketing consultancy avidimpact.com predicts that “Being Human will return to marketing” because ‘consumers want to be inspired and have meaningful and personal connections with brands to move them to buy products and services.’

4. Shared economy – from consumer travel to the meetings industry
PwC predicts that the shared economy globally will grow from a value of $15bn in 2013 to $335bn in 2025. Within the travel sector, from Airbnb to Uber, from Bookalokal to Vizeat, the concept has made enormous inroads among consumers. Next year the meetings industry discussing more intensively and proactively how it can and should adapt to this trend and use it co-operatively, with first steps to put words into action being seen.

At IMEX in Frankfurt 2016, this topic will run throughout the show.

5. Community – giving back
In an age when spare time is supposedly under pressure, the drive to contribute and give back, whether it is through volunteering or through schemes such as the http://www.themeetingsindustryfund.org/, is a growing trend.

In 2013, one in four adults in the USA (25.4 percent) volunteered through an organization. Altogether, 62.6 million Americans volunteered nearly 7.7 billion hours last year. Based on the Independent Sector’s estimate of the average value of a volunteer hour, the estimated value of this volunteer service is nearly $173 billion.
www.volunteeringinamerica.gov/#sthash.5XV7XE5n.dpuf

According to the UK’s annual Community Life Survey, in 2014-15 “there was a significant increase in the proportion of people taking part in civic participation at least once a month (5%) compared to 2013-14 (3%)”.

It also reports that in 2014-15, 8% of people participated in employer volunteering, a significant increase compared to 2012-13 (6%).

While there seems to be an emphasis in society on ‘looking after yourself’, it is good to see altruism also increasing as well.

6. Asia – potentially the key growth area for new meetings destinations and venues
The importance of this region is endorsed by the latest annual American Express meetings and events industry report which says that ‘meetings spending is rising globally, led by the Asia Pacific region with 2.1 per cent growth expected.’
http://www.meetings-conventions.com/News/Features/Meetings-Industry-Future-Hotels-Airlines-Trade-Shows-Incentives/?cid=eltrMtgNews

In the 2012 IMEX Power of 10 study – looking at what the next decade holds for the meetings industry – 46 per cent of respondents anticipated growing political and economic influence coming from Asia. This was evident at IMEX in Frankfurt 2015 where stand space taken by countries from the Asia Pacific region expanded by 16 percent. Hosted buyer participation from the region has also increased significantly over the past 3 years.

SECC AHEAD OF EXPECTATIONS AS IT LOOKS FORWARD TO THE HYDRO

September 24, 2012

The Scottish Exhibition + Conference Centre (SECC) today announced its financial results for 2011/12. During that period it reported a trading profit of £0.4m, £0.2m ahead of expectations with EBITDA of £1.9m, in line with the previous year. It also delivered car park development gains in excess of £6.0m and made early provision for an impairment charge in respect of the Hydro of £36.1m to be matched with future development receipts.

The news has been welcomed by the company which reported that despite a difficult economic climate all sectors of its business have performed in line with expectations.

Speaking at the announcement, John Sharkey, Chief Executive, SECC said:
“These are encouraging results when you consider the fine balancing act of running a trading business whilst building a new arena. The main item which has affected the company’s results this year is the impairment charge recognised at this time in relation to the Hydro project.
“When originally conceived in 2002, the SECC expected to incur an Arena impairment charge which would be covered by the development gains arising from the connected West development site, given that the 20 acre land value is carried on our balance sheet at £200. The QD2 project comprising The Hydro, a car park, a heliport relocation and the mixed residential west development site are interconnected in that the car park and heliport relocation is needed to release development land and the development is needed to fund The Hydro which could not be delivered in the absence of a sufficiently coordinated campus plan.
/cont…

“I am pleased to report that our original impairment estimation has been significantly reduced and this is largely as a result of better than anticipated business plan projections for The Hydro.”
“This year, due to a previous scheme for the site not materialising, the SECC became a commercial developer in relation to the disposal and construction contract for a new 1600 space car park. We secured an operator, contractor and forward sold the development retaining a management interest in the contract. Once completed in 2012, it will contribute over £7.0m to the SECC in terms of profit with £6.0m included in the results for the year, and more importantly a funding receipt for the QD2 project.
The SECC also reported that the forward outlook for the business is extremely promising. Funding for the 12,000 capacity Hydro arena is now fully secured and delivery is scheduled for a September 2013 opening. The business also reported that it has been successful in attracting key commercial sponsorships for the Hydro in excess of eight times its originaltarget for the project. Partnerships have been finalised with major companies such as its naming rights sponsors SSE (Scottish Hydro) and soft drinks company Coca Cola with a significant number of other sector deals agreed and in thecourse of contract completion.
Sharkey continued:
“We have a healthy calendar of dates held for Hydro concert and events which will be announced over the coming months. Further ahead, the sporting legacy of theCommonwealth Games in which The Hydro will play a significant role will continue when the Arena hosts the World Gymnastic Championships in 2015 as well as being a venue for the 2018 Youth Olympics Games bid..
“Forward bookings in our key conference sector are healthy and business opportunities from the enhanced capacity in our existing SECC halls look set to be captured.”
Ends

For further information please contact:
Kirsten McAlonan, Corporate Communications Manager SECC Tel 0141 275 6215 – www.thehydro.com


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