Clear positioning, future-focused boards, strategic innovation, leveraging data, business model experimentation and top talent were said to be critical to shaping the industry’s future.

Fast Future Research launched the report on the key strategic challenges and choices facing the industry over the next decade.

The report, on the future of meetings, venues and destinations, draws on a wide range of expert interviews and workshops, desk research, an online survey and a project wiki to identify drivers of change and emerging strategic challenges and the research identifies case studies highlighting both the incremental and transformational changes already being undertaken across the industry and the need for greater clarity and consistency of strategic thought and action.

A number of strategic imperatives are identified including the need to:

• Choose a clear strategic position whether it be strategic innovator, fast follower or low cost, no frills provider and then ensure every action and decision is consistent with that strategy.
• Develop the board into an outward looking and future focused entity that is helping to shape and challenge longer-term strategy
• Acknowledge that to compete effectively with the expensively marketed alternatives, it is necessary to outthink the competition rather than trying to outspend them
• Develop a clear set of strategies to manage technology, exploit the data generated through events and create ‘reusable knowledge’
• Demonstrate a willingness to experiment with business models and create new revenue streams to anticipate and address future client demands for greater financial innovation and risk sharing from event partners and
• Develop and recruit top level talent that can truly understand how clients’ business strategies are evolving and develop equally strategic and innovative responses.

Carina Bauer CEO of Imex said: “The report lays out a clear roadmap of critical decisions and choices that will help ‘future proof’ businesses across the sector. The strategic issues highlighted identify key factors industry players must address to ensure they can compete effectively in the decade ahead. We need to become as good at strategic thinking as we are at operational delivery.”

The full report will examine critical factors that have shaped the industry over the last decade, examine current issues on the agenda, describe key global drivers of change shaping the external world and customer behaviours and highlight emerging industry and external trends that could impact the sector.

“The past couple of years have challenged our industry on many fronts, not least economically, but I am delighted that both buyers and exhibitors have voted with their feet and turned up in greater numbers than ever to do business at Imex this year,” said Bloom.

A record number of more than 3,800 hosted buyers from 60-plus markets attended this year’s show, among a visitor total of nearly 9,000. The mood amongst buyers and exhibitors was also positive and optimistic, with many reporting increases in levels of business and appointment numbers. A typical example was Nik Racic, director of the Croatian Convention and Incentive Bureau who said on day two of IMEX: “We have 25 exhibitors on the Croatian stand and they are so far reporting 10 to 12 per cent more business than last year”.

Buyers from emerging markets were particularly evident, demonstrating a new wave of buying power and interest. Buyers from Brazil, Russia, India and China attended in larger numbers, with groups from Asia and the US also noticeably bigger than last year. Changes to hosted buyer itineraries for 2010 ensured that more of them stayed at the show for three full days and spent longer periods on the show floor with exhibitors. However, Bloom explained that Imex will still continue to focus on developing European markets to maximise reach to buyers in the UK and on the continent in addition to the long-haul markets.

“We can see the results of these increases in our online appointment numbers. Individual and group appointments rose by 14 per cent this year, which represents a total of 57,000 business appointments made between buyers and exhibitors before and during the show. The number of diary messages exchanged before and during Imex increased by nine per cent to more than 12,000,” said Bloom.

“It is also an excellent sign for the whole industry that many more hotel groups and cruise companies exhibited here this year. It is encouraging that many have come through the downturn and that they are feeling more optimistic about business in the year ahead.”

The Imex Politicians Forum saw 28 politicians from Sweden, Greece, Austria, Canada, Croatia, Panama, Poland, Denmark, Scotland and Australia, amongst others, spend a day debating how the industry can work better with its political representatives for each group’s mutual benefit.

“The meetings industry must continue to present itself consistently and communicate with one voice – and that voice must powerfully articulate its economic strengths and the long-term benefits the sector provides at both regional and national levels,” said Bloom.

He also talked about the launch of the first ever Imex Challenge set to take place in Poland this September.
“Come September, 24 people from across the industry will be toiling hard over several days to transform the garden and grounds of a foster home near Warsaw. We plan to run an Imex Challenge every two years with the express intention of leaving behind a lasting legacy such as an educational or maintenance endowment, in addition to the work the group will carry out on the spot,” explained Bloom.

The Imex education programme also proved extremely successful this year. It was the biggest programme delivered to date, with 82 separate sessions, most of which were packed out. The majority take place outside of show hours so as not to cut across core business.

Bloom also described excellent levels of interest and support for the launch of Imex America and explained how the Imex model will be developed in Las Vegas and be unique in the US market.

He concluded by announcing that over the next two years Imex will be embarking on a comprehensive website development plan making it the ‘living heartbeat’ of the show with a series of features designed to make it an even more powerful and user-friendly tool for year-round business as well as stepped-up and enriched social media content.

The day focused exclusively on professional education and round-table debates with each session tailored specifically to address the professional concerns of association executives. Association buyers regularly account for approximately 12 per cent of Imex’s hosted buyers each year.

This year’s programme concentrated on the issues of strategic planning, long-term future trends and how best to manage online content.

The ‘strategic global planning’ sessions were moderated by Greta Kotler, chief knowledge and strategy officer at ASAE (American Society of Association Executives) with contributions from speakers Chip Deale, head of global society relations at the CFA Institute (Global Association of Investment Professionals), Helga Severyns, senior director of the UITP (International Association of Public Transport) and Luc Hendricx, director of IDF (Congresses and Governance for the International Diabetes Federation). These sessions examined how best to expand influence and drive up membership numbers while increasing loyalty.

In a second session, CEO of ICCA (International Congress and Convention Association), Martin Sirk, examined the different factors at play when deciding where to hold an international congress, using ICCA’s recently updated framework as a discussion document. A discussion about the value and purpose of online content also proved popular with delegates. Pol Van De Perre, association director of MCI Brussels outlined the importance of providing valuable online content for event delegates as well as how to leverage such content for revenue generation.

The Day’s educational programme ended with the ever popular round-table sessions, organised by MCI, which give delegates the opportunity to discuss issues of their choice with their peers. Association Day delegates then joined more than 500 Imex exhibitors for a networking event.