Following what is hopefully the end of the COVID era, in-person conferences have come roaring back. The value of direct human-to-human interaction in winning clients and building relationships is paramount. However, this does not mean all tech conferences will be successful.
Speaking with investors, founders, and thought leaders in the tech industry and attending conferences as part of my role, I’ve broken the difference between being a great vs. an OK conference down to three factors: brand/user experience, the quality of business connections made, and getting the balance right between being a focused or generalist conference. Here’s how the cities of London and Austin have curated top-notch tech conferences, creating a new model for the future of conferences.
1. CREATE A UNIQUE AND COMPELLING BRAND AND USER EXPERIENCE
March 2024 saw the continued success of SXSW in Austin, Texas, with approximately 300,000 people in attendance. What began as a music festival showcasing local talent evolved to include film and interactive, and then expanded further to encompass business and tech.
I am a convert to SXSW. To me, the appeal is the ability to meet decision-makers and thought leaders in a relaxed and open format, while the proliferation of “houses” beyond the main convention center creates a “choose your own adventure vibe” with more content than one individual can possibly hope to cover. The city of Austin truly embraces the entire conference, allowing the local flavor of quirkiness, open-mindedness, and a little BBQ to fuel insightful discussion.
SXSW branched out to Sydney, Australia, in 2023 and has further expansion plans on the horizon. They are working hard to ensure it can be successfully transposed elsewhere without becoming just another tech conference.
One challenge is the increasing cost, which could leave the door open in the future for a challenger to steal its crown by recreating the “more authentic” tech/film/music experience. What is clear for now though is that creating a brand that resonates and a customer experience that lives up to expectations is a recipe for conference success.
2. PROVIDE VALUABLE BUSINESS CONNECTIONS AND DESTINATIONS
While having a great time is key criterion for success, most people traveling on the company dime need to demonstrate ROI to justify their trip. Salespeople need to show new leads or deals closed; startup scouts need to be able to point to the creative founders they met; and buyers need to showcase the innovative new suppliers they connected with.
For a tech conference to be successful, potential attendees need to feel confident that they will meet relevant and high-quality contacts. Often, the appeal of a conference can work hand in hand with the perception that the city in which it is hosted is a business destination.
London has done this well. London Tech Week celebrated its 10th anniversary in June 2023 and had a record 30,000 business attendees from roughly 148 countries. It’s always been a strong blend of top tech innovators and leading government officials, such as DeepMind’s Denis Hassabis, Mayor Sadiq Khan, and Prime Minister Rishi Sunak, working side by side and showcasing the importance of collaboration between regulation and innovation. The convergence of decision-makers and buyers from so many countries creates a ripe environment for salespeople to achieve their results.
Adding to the appeal is the draw of London as a world-class business destination. In my opinion, despite Brexit, London has remained Europe’s capital for AI and tech, financial services, and creative industries, as well as life sciences and sustainability more recently, and continues to thrive in these sectors.
Our data shows that in Q1 2024, London attracted twice as much investment as any other European hub, with $2.4 billion raised (followed by Paris with $1.2 billion and Amsterdam $857 million). The concentration of venture capital makes it a draw for startups across Europe, North America, and Asia, while the sheer number of decision-makers at large corporations makes it a beacon for salespeople.
London Tech Week recognizes that it is part of London’s tech ecosystem and that visiting delegations will use their time there to take advantage of the opportunities across the city. Part of its success is that people want to go to London and use London Tech Week to decide the dates of their visit.
With Microsoft announcing a brand new AI hub in London, as well as the UK and U.S. governments signing a joint agreement to safety test AI models together, the 2024 version of London Tech Week (June 10-14) is shaping up to be a global, cultural platform for the future of AI. Plus, those looking to enjoy themselves ahead of the conference can take in the MLB London Series June 8-9 when the New York Mets play the Philadelphia Phillies at Queen Elizabeth Olympic Park.
3. MAKE THE CONFERENCE FOCUSED, NOT GENERAL
While SXSW and London Tech Week are successful broad tech conferences, there is a trend away from big-box approaches toward ones catering to more bespoke, niche audiences. The challenge is threefold: The word “tech” now applies to everything, so it is essentially meaningless; trying to cater to everyone means that content can be too high-level or bland; and when conferences are large and generalist, it is harder to fight through the crowd to meet relevant people.
SXSW and London Tech Week get around this by having enough breakout content to cater to different business audiences. In the U.S., Fintech Meetup in Las Vegas is increasingly being described as the new place to be for fintech innovators. Meanwhile in London, the Innovate Finance Global Summit (IFGS) and London & Partners’ own GROW Summit represent prestigious smaller events where you can guarantee getting in front of your desired audience.
FINAL THOUGHTS
Conferences remain a key part of the business development and marketing mix for large corporations and new startups alike. With inflationary pressures, higher interest rates, and squeezed marketing spend, the competition is on for big conferences to remain relevant and continue to justify why business leaders should take time out of their calendars to attend.