The Creativ Brief: Navigating the Business Conference
We’ve all participated in the business ritual of formalized networking - the business conference.
In my latest op-ed for THE DRUM, Event leaders’ top 4 tips on getting the most out of your next business conference, we spoke to executives from SXSW, Brand Innovators, The Business Show, and THE DRUM.
According to Gartner, businesses spend an average of 10-20% of their marketing dollars on events, making the pressure to see an ROI a must.
That spend looks to increase in 2023 as a survey of 670 event marketers in 2022 revealed that 85% plan to increase their budgets. Another 2023 study (graphed below), shows that the biggest gainers for event spend were VIP customer events, user conferences, hospitality, and product launches. The biggest loser was virtual events - with no marketer reporting an increase in spend.
Our interviewed event executives outlined intuitive recommendations that bear repeating: plan ahead, talk to anyone and everyone, don’t forget the little things, and prove event ROI.
Give it a read here in THE DRUM.
3 Stories Dominating Media and Tech Headlines
French luxury king attempts to buy talent agency CAA. Francois Pinault is CEO of Kering which owns luxury brands Gucci, Balenciaga, YSL, Alexander McQueen, and auction house Christie’s. The previous undisclosed offer to buy CAA comes in at an eye-popping $7 billion dollars.
Why it Matters: Luxury brands have long relied on high profile celebrities to drive awareness and sales. The tie-up would give that set of luxury brands open access to elite celebrities for product deals. Also actress Salma Hayak is married to Mr. Pinault and represented by CAA. Take that as you will.
X throttles traffic to websites that Musk dislikes. The site formerly known as Twitter added five-second delays to page loads on link outs to websites like the New York Times, Facebook, REuters, Substack, and other news organizations.
Why it matters: A Google study in 2016 that over 50% of users abandon a site if it takes longer than 3 seconds to load. Musk had previously removed the verified badge to certain outlets. The case shows the power social media has aggregated in their ability to filter information.
Video games tap AI for interactive dialogue. A new mod in GTA 5 will allow players to have open-ended conversations with characters in the games. The application of AI to character development promises new, deeper in-game worlds.
Why it Matters: Non-playable characters (NPCs) occupy and fill vast video game worlds to make them feel alive. Applications of directed AI may allow for unlimited interactivity for human players to get even more immersed in their favorite world. From game design, code deployment, and now character dialogue, we are just beginning to see AI’s applications to video games.
Client Spotlight - American Advertising Federation Comes to LA
The American Advertising Federation tapped us to publicize their announcement of the founding of their Los Angeles chapter.
Founding member agencies represent the largest local advertising agencies including Giant Group, MOCEAN, Walton Isaacson, Hawke Media, RPA, Team One, TBWA/Chiat/Day LA, Ogilvy LA, Clique-Now, The MRKT, Mixed Asian Media, IW Group, and Cal State Northridge.
Stat of the Week - Event Marketing Spend
Chart by Statista
Events are big business, with businesses claiming they spending upwards of 20% of their marketing budget here.
The biggest increases in 2023 are conferences, hospitality, conferences, and product launches, according to a survey by Statista. The biggest losers - virtual events - with no marketer stating they’d spend more on this event type in 2023.
Expect more in-person gatherings, badges, merch, and handshakes in 2023.
One Fun Thing - Business Satire
Business memes are blowing up.
Whether you are Ryan Air’s TikTok, the Digital Chadvertising meme account, or Austin’s Tech CEO parodies, business satire is hitting new highs on the internet.
I’m not sure if we should be thrilled or terrified. You decide.