On any given day, there are hundreds of conferences taking place across the globe. In a 2009 report published by PwC, the United States Event Industry reported 270,000 conferences with 51 million attendees. And according to the U.S. Bureau of Labor Statistics, conferences have a 44% projected growth between 2010 and 2020 representing a $280 Billion industry.
Business are sending employees to conferences for employee development, brand presence, and customer meetings. For this reason, Lodestone Insights developed a standardized and objective indices, Lodescore, to help identify, speak, attend, sponsor and exhibit the right conferences:
Conferences provide educational content – from confirmation of existing knowledge to new innovative thoughts and perspectives that challenge the status quo. Good businesses invest in their employees by leveraging conferences not only to develop their employees, but surface information about new market trends and competitor activities. For many businesses, conferences are used as a perk or recognition of good work, which has a positive influence on employee retention rates. Conferences that have good educational experiences are prime to ensure that the information delivered is relevant, practical, and potentially can influence the business in a positive way.
- Business Development
Sales and business development is the keystone of growing a business. Conferences are a unique opportunity for businesses to connect with their existing and future customers. With so many conferences happening each week, the challenge is to identify the right conferences and opportunities to make those connections. With sponsorships, special sessions, and exhibit floors, conferences are a place for companies to extend their brand and messaging. Beyond physical marketing, employees in attendance also represent the brand.
Structured and effective networking at conferences creates opportunities for attendees to meet with like-minded professionals, share ideas, and develop collaborative relationships. While the Internet has changed many aspects of business, it still has not eliminated the need and desire to meet someone in real life. Great networking opportunities can happen in many different forms from coffee breaks, receptions, to 5k runs or other community-based events organized by the conference.
Lodestone Insights has developed a solution to Reveal, Rank, and Realize conference investments. This tool, known as Lodescore, takes the guesswork out of comparing and identifying the right conferences and gives businesses a simple way to track and manage conference activities.