We have participated in a number of conferences through time and I have to say that the results, as exhibitors, are negligible. I have collected here a number of reasons that conferences do not work in practice.
They are expensive
On top of the cost of attendance, you need to add a number of indirect costs like traveling and lodging for multiple people,
booth construction, leaflets, and giveaways. Like building a house, the final cost tends to be double your initial estimation.
They have a high opportunity cost
A lot of time and energy need to be spent before and after the conference for activities around it. Companies make this investment hopping of making a difference by closing one or two very large deals. The reality though is that those deals rarely happen. The worst part is that many things that could produce much more tangible results are push later-on as conferences, due to their non-flexible nature, become priority #1.
The personal connection is not there
A big benefit of conferences is supposed to be the personal touch.
The reality is though that with so many things happening in so little time, most modern conferences do not offer the comfort of time to craft meaningful relationships. When they happen, is a random event rather than a natural process.
The learning is not there
Most conferences include learning sessions with high prestige speakers.
I have attended several of them through time and generally, there are indeed some good talks. Still, many a time you hear boring nonsense. Worse even, little that you see or hear in a conference cannot be found faster and cheaper in other places.
They are a singular event
With so much noise in our daily lives, it is easy to forget people and opportunities created within the short context of a conference.
This is the case for both vendors and potential buyers. When you return to your office you have to deal with dozens upon dozens of
priorities or opportunities that marginalize the conference effect. Most real sales today are made based on word-of-mouth or
long-term trust and commitment that rarely stem from singular conferences.
The prejudice of past results
Up to mid-’00s conferences were indeed the premium medium for connecting people. A lot was happening on conferences and most importantly deals. However, it was even then neither cheap nor convenient.
Fast forward to mid-’10s, the internet has such an overwhelming effect on how we do business, especially as tech companies, that a conference seems like riding a horse when there is a rocket to the moon.
So, why conferences still happen?
There are 3 main reasons that conferences still exist and none of them offer business value:
* Organizers make a lot of money out of them.
* Employees have some fun time at companies expense.
* Executives find a medium to show-off.
When conferences do make sense
In order for a conference to make sense, a number of nontrivial things need to happen.
First, you need to pre-arrange a number of meetings that you would have either way in the physical world. Multiple meetings in one venue may be more economical than individual visits (especially when long-distance travel is involved).
Second, your core customers should not be tech savvy. Tech savvy people rarely buy from conferences as they rely more on personal research rather than sales communication.
Third, you need to be persistent over time. As most mediums, conferences work when they become part of your company’s DNA. Select a few venues and visit them year after year. This repetitiveness offers more opportunities for cultivating a related audience. Don’t fool yourself, it is a big investment and commitment.
Final words
What conferences bring is a condensed view of your industry trends. They can also be a good medium to cultivate partnerships. If you are looking for trends and partnerships then visit them as guests.
But leave the booth to the greedy ones.
