Way back in 2012, I was at the first in-person get-together that formed the nucleus of the Bureau. A dozen years later, several of the foundations that made that event special are still intact. Most notably, the Bureau Oath, our informal NDA that sets the tone for safely sharing anything going on in your world.
But the more things change… in-person events were instrumental in the growth and value of the Bureau. And revenue from them allowed us to build a team dedicated to putting on better and better events. However, that’s not true today. In-person events are struggling to break even, and something has to give.
So please keep reading to learn what we've discovered, and share your thoughts and insights with us, too!
The Future of Bureau In-Person Events
The pandemic took a lot from us but also gave us some good things. One of the biggest losses is the viability of independent in-person events.
A few things to share in the context of deciding where we go from here:
Membership revenue continues to climb and has surpassed in-person event revenue significantly.
Less than 25% of members will experience Bureau in-person events this year.
Over 70% of the Bureau team’s time is focused on in-person events.
I’ve been studying this because the Bureau of Digital community has said it wants in-person events, but it’s hard for everyone to commit. Here are what I’ve identified as the core challenges.
In 2020, independent in-person events were canceled due to health concerns, and organizers had to refund many attendees and sponsors and battle with venues for refunds. Many never made it back.
During the early days of the pandemic, the quality of free online events and education skyrocketed.
When education and professional dev budgets came back, they weren’t at the same level, and many folks used the online options.
At the same time, associated costs for putting on in-person events went up, and additional revenue sources like sponsorship went away.
Many sponsors who withdrew from independent events began putting on their own. With deep pockets, they put on high-quality experiences at an affordable price.
Former leadership-level attendees of in-person events started attending events where they could meet prospects. Given the challenges in biz dev, this makes good sense.
I’m sure my inbox and DMs will fill up fast at the suggestion that there may not be in-person events next year. That’s a testament to how valuable they are for many of us. And make no mistake, it would be a huge struggle for me to walk away from seeing you lovely people in-person. I’ve said it frequently: the real life get-togethers are where I get my energy. They truly keep me focused on supporting the community with everything I've got.