Is the events industry being held back by underperformance?

According to Matthias ‘Tesi’ Baur, one of the founding members of the recently formed MBB-Consulting Partner Group, the events industry is being held back by under performance more than ever, which is why, he says, his group has launched its Commercial Audit Service, a deep-dive analysis of an event business’s current operations with the objective of identifying practical steps to improve a client’s commercial performance.

The group believes its initiative is timely as companies seek to emerge stronger from the disruption caused by the pandemic.

Chris Meyer, CEO of Chris Meyer Global and a founding member of the MBB-Consulting Partner Group, adds: “Before you can decide on your future strategy e.g. portfolio expansion, you must first have a clear understanding of how well your company is performing commercially compared to the industry benchmark.”

He went onto say: “Any company that doesn’t constantly seek to improve performance across all aspects of its operations, is in danger of not only being caught but also overtaken by its competitors.” 

Based on a tried and tested methodology, the audit uses a modular approach to deliver a comprehensive analysis of each area of operations e.g. sales and team culture, systems and process integration, financial and price planning, which combine to give an holistic assessment of the organisation’s commercial performance. These results can then be referenced and compared to international benchmarks and industry best practice.

Tony Calanca, principal of Calanca & Associates LLC and also a founding member of the MBB-Consulting Partner Group said: “In our methodology, we carry out a thorough investigation of the client’s internal organisation. We then rate all operations in terms of how critical they are versus how developed they are in reality i.e. are they fit for purpose and operating at the optimal level. A clear and concise report is then provided detailing practical steps on how an organisation can improve its commercial set-up.” 

Shows serving the same market can grow at highly variable rates and this is predominantly down to the organisers having different business cultures and how effective and well developed the commercial processes are in each company.

The fourth founding member of the MBB-Consulting Partner Group, Andrew Furness, commented: “Specifically designed with exhibition organisers and venue owners in mind, the modular nature of our Commercial Audit means we can tailor our services to match the priorities of individual clients e.g. it will be equally effective for evaluating the performance of sales teams as it is for carrying out commercial due diligence on a potential acquisition target.” 

More information here