livecom_alliance
Photo Credit: Events.nl

The study ‘The Future of Live Communication’ reveals the main changes in strategies, value creation chains and formats in the industry. Following the LiveCom Alliance European Industry Surveys, this new study – also conducted by R.I.F.E.L. Institute – is based on the view of customers for the first time.

As a result of the digital transformation and its acceleration due to the COVID-19 pandemic, the live communication industry is facing the greatest upheaval in its history. The objective of this study is to gain deeper insights into the emerging changes in the value creation processes from the customers’ point of view and to obtain guidance for the strategic realignment of the event industry ‘ecosystem’.

Methodology and respondents’ profile

The methodology for this study was based on desk research and preliminary quantitative study in step one. Step two contained a qualitative study based on group discussions and interviews with 14 managers from 10 International operative German companies in the automotive, chemical, transport, technology, banking, telecommunications, electronic, medical and medical technology sectors.

livecom_alliance
Photo Credit: LiveCom Alliance

Highlights on four focus points

The study shows many relevant and valuable insights, following four focal points:
changes in customer communications strategies, changes in the value creation chains and partnerships, changes in the event formats used and customer expectations for the strategic realignment of the live communication industry.

● Live, in-person communication is indispensable for companies, as it is the only way to enable ‘an experience integrating all the senses’ and to establish personal proximity to the audience. However, in the future real-world, live communication will be expanded and extended in time through digital
channels.

“The desire for face-to-face events is immense among all the participants.” (Thomsen, Deutsche Sparkassen- und Giroverbund)

● Customers plan to continue activities in all live communication formats in the
future, but the boundaries between different formats will be just as fluid as the
implementation in real live, digital and hybrid forms.

“When a live event takes place these days, one of the first questions attendees
ask is, ‘What virtual/digital options do we have?’” (Gödert, BASF SE)

● In addition to digital competence and content expertise, sustainability will figure
much more prominently in event concepts.

“The sustainability of events to reduce the carbon footprint is becoming
increasingly important for companies. Agencies need to focus more intensively
on these demands to remain successful in the long term and to win contracts
from large corporations.” (Landers, BMW Group)

Read the full report below.

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