• Home
  • Publishing
  • Ad Sales
  • About Us
  • Upload an Ad
  • Blog
  • Contact Us
LLM Association PublicationsLLM Association Publications
LLM Association Publications
  • Publishing
  • Ad Sales
  • About Us
  • Current Advertisers
    • Upload an Ad
    • Make a Payment
  • News Center
  • Contact Us

Survey Highlights Economic Effect of COVID and Strategies for Future Events

July 10, 2020 News

Conferences, trade shows, seminars, and in-person training programs represent a significant portion of any association’s annual revenue. Of the 1,020 association executives responding to a mid-March Association Laboratory Inc. survey, 56% reported cancellation or postponement of a face-to-face meeting.

Other findings from respondents who canceled an event include:

  • 65% lacked insurance that covered all incurred costs
  • 30% carried no event insurance
  • 65% fully refunded registration fees
  • 25% fully refunded sponsorship funds
  • 28% fully refunded exhibitor fees

The economic impact of COVID will mean budgetary and programmatic changes at their associations according to 73% of respondents. The changes include:

  • 77% will reduce discretionary spending
  • 72% will use reserves to cover lost revenue
  • 91% will use virtual platforms for Board and other small face-to-face meetings
  • 57% will increase investment in online education
  • 53% will increase investment in virtual conferences
  • 50% will increase hybrid events that allow attendees to participate in person or virtually

To see a copy of the full report that includes other event and marketing strategies associations anticipate for the future, go to the Association Laboratory website.

Share

You also might be interested in

What Members Say About Associations After 2020

May 17, 2021

What have all of the changes made by associations in[...]

Does Your Social Media Really Increase Engagement?

Does Your Social Media Really Increase Engagement?

Nov 3, 2021

All association marketers have seen the reports listing the number[...]

Planning for 2021? Use 2020 Lessons to Prioritize New Strategies

Feb 2, 2021

There are a number of words and phrases used throughout[...]

Search

Latest Posts

  • Create a Magazine that Adds Value to Membership
  • Association Event Planners Tackle In-Person Meetings
  • Microlearning: Text Message Courses Add Value and Increase Engagement
  • Differences Between Writing for Online and Print
  • Promoting Innovation in an Association

Archives

  • March 2022 (2)
  • January 2022 (4)
  • November 2021 (4)
  • October 2021 (2)
  • September 2021 (2)
  • August 2021 (2)
  • June 2021 (6)
  • May 2021 (3)
  • April 2021 (3)
  • March 2021 (3)
  • February 2021 (3)
  • January 2021 (2)
  • November 2020 (3)
  • October 2020 (6)
  • September 2020 (3)
  • August 2020 (3)
  • July 2020 (2)
  • June 2020 (2)

Contact Us

Have questions or need more info? Please let us know how we can help!

Send Message
Logo

Print and Digital Association Contract Publishing

Contact Us

  • LLM Publications
  • 503-445-2220
  • support@llmpubs.com

Business & Mailing Address

  • PO Box 25120, Portland, OR 97298-0120

© 2021 LLM Publications

  • Home
Prev Next