I was ruminating about Jeff Hurt’s article, “Our Increased Distrust Of Institutions And What It Means To Your Association, Conference,” and thinking about how the Trump election phenomenon follows other trends in our society in general and the events business, in particular.
Here’s what I believe is the impact on our business:
- People are fed up with the status quo, particularly when the ‘product’ of that status quo favors others and not themselves;
- People are fed up with being on the outside looking in, especially when the barriers are perceived as impenetrable and the benefits of being inside unattainable;
- People are fed up with being taken for granted – while others prosper – and when their efforts, wishes, and desires are seen to be unimportant;
- People are silent about their thoughts, but will act without telling you. When shifts occur, you can be completely surprised and may be unable to counter the trend;
- People are waiting to switch to alternatives that meet their needs – and will do so quickly;
- Many alternatives already exist but aren’t yet known by the outsiders, which is why they may initially defer to the status quo while they await other options;
- But when alternatives become known and available to the “outsiders”, anyone who executes status quo ‘things’ will be in big trouble. It may not occur in all markets simultaneously, but the rate of ‘destruction’ of the status quo ‘things’ will accelerate over time.
I greatly worry that for each event market there is a Netflix/Airbnb/Uber-type organization looming in its future. These alternatives may lack the massive staffs, the huge convention center and decorator contracts that might otherwise weigh them down as they come up with the next red hot event.
Consider the original TED or this example: http://www.nylon.com/articles/agenda-founder-aaron-levant. I’ve met Aaron and was impressed by his desire to bring a valuable event to his market quickly, without event experience. His event has redefined events in his market and even killed a larger competitor.
Is your event a Blockbuster or a Netflix?
Will you learn the lessons of the Trump election?