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How the Coronavirus is Infecting the Trillion Dollar Meeting Industry
From:
Edward Segal -- Crisis Management Expert Edward Segal -- Crisis Management Expert
Washington , DC
Sunday, March 08, 2020


The cover of Edward Segal's new book on crisis management
 

In addition to infecting more than 100,000 people in dozens of countries around the world, the COVID-19 coronavirus is infecting the economy and various industries, including the trillion ollar global exhibitions and events sectors. Crisis management expert and author Edward Segal provides his insights and perspectives about this latest public health emergency in a new article on CommPro.biz, a website for communication and marketing professionals.

"If necessity is the mother of invention," he wrote, "then every passing day of this virus crisis is forcing a growing number of companies and organizations to invent — or re-discover — alternative ways for people to 'attend' and participate in meetings and conventions."

He noted that, "Corporations who now spend large sums of money to stage, sponsor or exhibit at meetings and conventions may have to reallocate those funds to different line items in their annual budgets. Trade shows and other events that rely on sponsorship dollars and the spending by attendees may be forced to find new and creative ways to make up for lost income."

Segal observed that, "Live-streaming of events, for example, is nothing new. This older technology could become even more widely used as the coronavirus crisis drags on. Virtual meetings may become the new virtual reality, spawning a growth industry among companies who can quickly scale up their ability to meet what may become an insatiable demand.

When it comes to addressing and resolving the still developing coronavirus crisis, Segal advised that "it's best not to hold your breath — literally or figuratively. According to health experts, it could be a year or more until an effective vaccine is available. And the reality is that there may be no guarantee that once the disease fades away, that it will not come back year, after year, after year, bigger and more lethal. Just like the flu."

Segal, who has managed a variety of crisis situations for employers and clients, said, "Unlike most crisis situations, this developing disaster for the meetings and events industries may not be easily or quickly managed, addressed, or resolved -- much like the coronavirus itself." His article, "How the Coronavirus is Infecting the Trillion Dollar Meeting Industry," is now online at this link: https://www.commpro.biz/how-the-coronavirus-is-infecting-the-trillion-dollar-meeting-industry/.

Segal is a crisis management consultant and former CEO of the Greater Los Angeles REALTORS® Association and the Marin Association of REALTORS® in Northern California. He is the author of the forthcoming book on crisis management: Crisis Ready — 101 Ways to Prepare for and Bounce Back from Disasters, Scandals, and Other Emergencies (Nicholas Brealey/Hachette Distribution). Learn more about the book and pre-order a copy at https://amzn.to/2qTbCfi

Contact Segal at GetCrisisReady@gmail.com or visit GetCrisisReady.com.

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Edward Segal
Crisis Management Expert
GetCrisisReady.com
Washington, DC
415-218-8600