How to Create Profit in Tired Events

I recently spoke with Adam Andersen, who is Managing Director of Penton’s New Hope Natural Media division, and who is responsible for many well-known events in the natural food industry.  His company has an interesting forty year history, beginning as a consumer and retail newsletter out of New Hope, PA.

Given my interest in innovation within a ‘tired’ industry like the events business (where too often conferences and tradeshows lag behind the markets they serve), I asked Adam to ‘serve up’ some innovation.  I was particularly interested in how his firm’s thinking has inspired new ideas within their current events, as well as how it has spawned new events. Adam has a sales background in the food industry, as well as an extensive knowledge of the conference business where he has rapidly risen to the upper echelons of his company.

INNOVATIVE THINKING

Adam’s recipe for innovation and event growth includes:

  • Recognize that there are no ‘sacred cows.’ Experiment, even with the things that have proven successful in the past.
  • Always ask the question ‘How can we do it differently?”
  • Frequently attend non-competitive events, looking for good ideas that you can poach for your own events.

Of course, at the end of the day, you still need to make a profit.  When considering the above, you must keep an eye on the margins.  But create a culture in your organization where a career isn’t threatened by trying something that ends up not working.

Adam offered one example of enlivening an existing event: the offer of “Frequent Flyer” VIP passes.  Designated attendees gain front row seats to key sessions, as well as separate entrances to the expo floor, as well as reserved ‘chill-out’ rooms.

 

NEW LAUNCH INNOVATION

He also cited a situation where creative thinking has triggered a new event launch, that of ESCA BONA (Latin for ‘good food’).  Adam’s team felt that is was time to provide a forum for disruptive companies in the food space, akin to what Airbnb has done in lodging. The focus of the ESCA BONA conference is innovation and sustainability of the sourcing and packaging of both existing and new food products.

How did they launch? They investigated what competitors were doing to ensure it would not be a ‘me too’ event.  They also picked a location that conveyed a hip ethos (Austin, TX), complementing that choice by injecting an entrepreneurial spirit into operations at their headquarters.  That spirit has extended both to their external marketing activities and communications with all stakeholders.  In terms of the event itself, they have chosen to limit the product showcase to only 30 companies to foster an intimate environment.  The results?  Well, it kicks off later this month from the roof of the Whole Foods Market corporate headquarters in Austin.

Sound good so far?  It should, particularly given that it took a mere eleven months to launch.

The results will include an audience of 250 well-curated attendees for an event never previously offered. You can expect it to deliver a hub of connections that provides value to all, as well as an opportunity to give back.  After all, the motto is Let’s Build A Better Food World Together.

Sounds like Adam and his team are on to something good here….

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