500+ business execs see dramatic changes for the future of work and events

“The pandemic will accelerate the demise of trade shows.”
“Business no longer requires the physical presence of the two parties.”
“Medical passports will be required to attend large events.”
“Globalization will stall.”

530 senior business executives expressed their opinions and predictions on the future of events and work in a survey conducted by Oomiji, an intelligent marketing platform based in New York City. The survey, targeted at senior managers, ran for a six-week period from late March 2020 to mid-May. Among the survey questions were several allowing for conversational responses regarding the future of events and the impact of the pandemic on business and the future of work.

Responses came from nine countries with just over two-thirds from the United States. The leading industry groups to respond were from food and beverage and marketing and media. 92% were at VP Director level and above. 

As shown below, the survey indicated that only one out of four business leaders plans to attend an event in the next 3 to 6 months, and more than half don’t see themselves attending any. That means that the audience for event organizers and travel companies that benefit from events has essentially been cut in half over coronavirus fears.

More than 1,200 conversational responses to open-ended questions about the future of events and the impact on business and consumers’ life/work balance were collected and business leaders didn’t hold back on their comments, many of which can be read in the full report.

Executives further indicated that they are making larger investments in using digital tools and holding online meetings (see below).

To one of the open-ended questions, executives indicated that innovation and virtual options will change the event landscape forever. Only 13% expect a return to normal after a vaccine is administered.  Conversational responses to this question were automatically classified by Oomiji’s software as below:

Business leaders offered their critiques of events, business and made observations on the future of work. Oomiji distilled the survey down to three major findings: 

1.     Event organizers will have to re-invent or die – even if safe to meet, the pandemic has revealed the efficiency of conducting business online. 

2.     Business leaders are taking a new outlook on priorities in health, climate change and social justice for their employees and customers. It’s worth noting that the survey took place before the Black Lives Matter movement.

3.     Companies will have to adapt to “at home” as the new office, be more empathetic and rethink sourcing and travel.

The report was presented to several hundred people in a webinar conducted by Oomiji CEO, Jon Stamell.  “The survey makes clear that changes taking place now will become embedded. When you can meet effectively online, the ROI for connecting in-person drops through the floor. The event business is in trouble for the long-term,” he said.

Oomiji is an intelligent marketing platform that enables learning and understanding from customer or professional communities to serve specific content to meet 1:1 interests. Its integration of market research, CRM and email marketing produces new vantage points from which to see issues, solve problems and engage customers.

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