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Opportunities Created by Competition

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Opportunities created by competition

Competition is inevitable and fierce, especially among businesses and associations wanting to maintain their leading position. Existing and new players are constantly trying to evolve their services and products, stressing the need for offering more personalised experiences to achieve maximum business results and attract more audiences.

Since the audience’s expectations are growing, the importance of designing holistic and unique event experiences continues to increase. For associations, steep competition is the driver that pushes PCOs and AMCs to seek new approaches, develop stronger community-building practices and ultimately inspire further activities for including in conference and congress design.

In addition, they need to have a clear understanding of their core competences, member and delegate needs. For this, it is important to invest time and resources for creating the right environment to host impactful learning and networking opportunities.

There are several solutions to consider and eventually capitalise on for staying ahead of the game. Competition in the institutional landscape should not only be viewed as a considerable challenge to overcome, but as a true opportunity for associations to modernise by strengthening their value proposition, industry knowledge and audience engagement solutions.

Here are a few areas to look further into:

Clear insights on the latest industry updates

With event technology and use of digital tools on the rise, staying on top of new trends leads to more powerful experiences. Keeping up-to-date with the latest industry developments helps your association stay relevant and attract more tech-savvy interested parties and younger audiences. 

Better understanding of your targeted audience

Promoting and communicating the efforts made for staying ahead, allows institutions to be more responsive to their target audience’s needs. Consequently, this provides more room for creativity when attempting to create a one-of-a-kind event experience tailored to your key audience’s preferences.

Innovation for building loyalty

Lastly, it is crucial to add innovation in the ‘improvement mix’; as innovative products and services inspire and help massively in getting and retaining your delegates’ attention. With expectations constantly increasing due to competition, promoting an innovative profile can work wonders towards increasing participation and enhancing brand loyalty.

Our association experts can help you solve your challenges and unlock opportunities, visit us at: association.mci-group.com

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