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RUNNING HEADER 26 | MEETINGS INTERNATIONAL | BIR No. 26 2020
ECONOMIC DEVELOPMENT “We have spent the last number of months investing in market research to support our economic sector strategy” outstanding strengths in their specific subsectors. “We have also created knowledge maps and business intelligence reports by sector. Combined, this is a comprehensive compendium of information that is constantly being updated as new information comes available.” Each of the business development managers comes from an economic development and business attraction background, so they are accustomed to collaborating with multiple stakeholders within their specific area of expertise. “With the help of our industry partners, our team researches the influencers, sector champions, researchers, businesses, and members of professional associations all across Canada to stay up-to-date on the latest innovations in our priority sectors. “This is no small undertaking, the volume of research required to map out the connections between Canada's industry leadership and prospective business event opportunities are vast, but it's this sort of market intelligence that helps set our partners up for success when a bid opportunity arises.” The business events team also builds relationships with C-suite executives, members of Canada's Global Affairs in-market teams, and representatives of international associations affiliated with their leading sectors around the globe. Chantal Sturk-Nadeau states their conversations seldom start with tourism or conference infrastructure. Instead, through their research and prospecting activities, they seek to understand how Team Canada can help prospective association customers increase their revenues and how corporations can grow their businesses. “Also, how we can add to their outstanding value proposition and memberships, how to expand the knowledge of their delegates, and how their best practices can be shared with a wider audience at events in Canada. “This multi-faceted approach evolves with each new opportunity. Sharing our learnings with our Canadian network, and adapting our strategy is an important component of our collaborative process.” If we look five, ten years ahead in time for business events in Canada, what does Chantal Sturk-Nadeau forsee? “While signs of recovery remain uncertain, we are striving to create resiliency within our business event community. Our latest Covid-19 Business Events Impact Report with data from August 31, 2020, shows business travel for in-person sales and client meetings will return first, and resilient sectors, such as life sciences, financial services and technology are anticipated to be the first to travel. “We are keeping a close eye on the trends in those sectors to evaluate the implications for business events.” Using the tech sector as an example: Advancements in artificial intelligence (AI) can have implications for a variety of industries, including business events by spurring on the need for conferences to establish policies, regulations, guidelines for the use of AI technology. Or, it could create a need for trade shows and exhibitions to engage tech innovators with distributors. Or AI advancements could generate demand for continuing education/ (re)-certification workshops. Or top sellers of a specific technology could be rewarded with an incentive trip to Canada. “Monitoring these trends and evaluating the implication for business events will be a key focus going forward. “Our research is showing that industry experts believe that an announcement of an effective vaccine 2020 No. 26 MEETINGS INTERNATIONAL | BIR | 27
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