PCMA Releases Business Events Compass

Kathy Monte, Senior News Editor
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CHICAGO — Business Events Compass, a reporting service recently launched by Professional Convention Management Association (PCMA), is bringing insights to the trade show industry.

“The information contained in Business Events Compass will help our industry navigate the next normal and beyond, looking toward recovery,” said Sherrif Karamat, CAE, President and CEO of PCMA. “Business Events Compass is about understanding that paradigm and how careers and businesses in our global business events industry can evolve to thrive and continue to deliver the human connections our world so badly needs.”

The report contains the voices of thousands of PCMA members, leaders of destination marketing organizations, trade show attendees and industry stakeholders worldwide, with insights on what the economic and industry recovery will look like. It is broken into geographic and industry sectors. “It focuses on what people are looking for in the next normal and how to engage participants and the business models that will be needed,” Karamat added.

Business Events Compass focuses on potential macro scenarios as they relate to trade shows. For example, what will happen if COVID-19 is or is not contained, or if it resurges in the future? It also delves into the speed of recovery based on geography and examines strategies for the next normal.

Sector-specific economic outlooks are featured and include healthcare, automotive, financial services, traditional energy, manufacturing, transportation, technology, education, telecommunications and consumer goods.

“This information is vital to trade show organizers as they will see what industries are coming back and which ones are impacted more severely,” Karamat added. “While trade shows and expositions are an important part of product launches, product demonstrations and more, the future will be buyers engaging in a different, very thoughtful combination of digital engagement as well as a physical environment. Trade shows may become more of an experiential product testing experience rather than a means to closing a piece of business. Technology will be used more in cultivating and developing the pipeline.”

Related. Here is a look at the highlights of last year’s PCMA’s Convening Leaders.

Subscribers to the service will receive bi-monthly updates with new data insights added for the remainder of 2020. An executive summary of Business Events Compass is available now free of charge on the PCMA website to all members ($49 to non-members). A subscription to the full service and inaugural report, including updates through December 2020, is available for $495 for members ($895 for non-members).

For more information on the Business Events Compass, click here.

Reach Sherrif Karamat at skaramat@pcma.org or (312) 423-7210.