INVESTMENT AND VENUE INNOVATION
As was the case in previous editions of this study, customer feedback remains top of mind for venue operators when deciding how to invest in resources, followed by national competitor product and service offers. In recent years, as venue operators become more interested in industry research and trends reports, IACC research has gained popularity this year among the venue operators surveyed. Interest in global competitor product and service offerings have also increased in 2020.
2017
2018
2020
Customer Feedback
Customer feedback
Customer feedback
Competitor product and service offers (nationally) Other industry research and trends reports ACC research / Trends / White papers Supplier marketing, sales and introducing product innovations Competitor product and service offers (globally)
Competitor product and service offers (nationally)
Industry Research & Trend Reports
Competitor product and service offers (nationally) Other (local economy, local competitors, budgetary resources) Supplier marketing, sales and introducing product innovations Competitor product and service offers (globally)
ACC research / Trends / White papers
Other industry research and trends reports Competitor product and service offers (globally) Supplier marketing, sales and introducing product innovations
It is important for venues to look at all these factors holistically. While observing competitors can provide useful intel on what sort of offerings do well, it only takes into consideration the events of today without considering future possibilities influenced from outside of the immediate meetings and hospitality industry. Research reports, when used in conjunction with competitive analysis, can provide an understanding of why competitors and others in the industry behave the way they do, what the future holds, and how to best adapt to trends and changes.
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IACConline.org & IACCmeetings.com
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