Business conferences are events where professionals from various countries and companies gather to learn, discuss or present about a specific topic. A conference could be about almost anything from technology to import and export.
An international business conference typically includes presentations by inspiring experts, international guests and interactive networking. As a result, conferences benefit many industries as it promotes sharing of knowledge in an interesting way.
Asia is full of famous international conferences such as the Canton Fair (China), IMC (India), RISE (Hong Kong), ICELS (South Korea) and many more. Many video conferences are also hosted online, but face-to-face conferences are more popular and enjoyable.
Hosting an international business conference can be challenging, and there are many steps a host must take. Businesses must have a detailed plan and have an attractive purpose to host any professional event in Asia
Hence this article will discuss how a business can plan and host an international business conference in Asia and what business insurance will protect the event.
Steps to Organising an International Business Conference
Set Purpose & Objectives
Planning an international business conference in Asia must have a purpose and objective. At this point, the hosting business should discuss a brief budget, the predicted number of attendees, duration and location. In addition, the purpose must include the specific topic or subject that the business event will surround.
The subject doesn’t have to be as popular as AI technology or the environment. But it should be exciting to an industry and a topic on which the hosting business has some expertise. Additionally, the subject must have a specific target market big enough to create the event. The theme must also have experts who can provide knowledge and inspire the attendees.
Finally, a successful business conference should have goals that benefit the attendees. The more professionals feel benefited, the more willing they will be to attend and share the event in the industry.
Setting an appropriate date for the international business conference is crucial to its success. The date can make or break the event’s success, especially if it is a new business conference. Therefore, hosting businesses must choose the date that best fits their target market, speakers and location.
Very few people will attend networking events near the holiday, especially if flying from a different country. Additionally, a hosting business should not compete with famous international conferences or events during that time. Professionals will always choose a famous conference over a new one, no matter how interesting and promising.
Lastly, the location is another influencing factor of the date. Bad weather will negatively impact attendees‘ perspectives of the event and may even stop people from flying in. Choosing a date can be complex and may need a large amount of business brainstorming.
There is no international business conference without a venue. Asian businesses must look at all possible locations in their country and if it fits their predicted number of attendees. The location must have a great atmosphere and provide some factors to help the event run smoothly and successfully.
These factors include technology integration, seats, networking space, presentation stage and distance to main hotels. In addition, the venue should provide an excellent experience to the presenting experts, attendees and all within the budget.
The different types of conference venues could include hotels, business centres, universities, museums or even a unique venue related to the topic. Picking the right venue can help the conference attract more guests, especially if it differs from most business events.
Inviting charismatic and influential speakers is crucial to every international business conference. A new hosting business may not be able to get the most famous speakers, but with the right strategy can still get experts who have relevant experience in the field.
Choosing the right speakers is vital, as they should be able to professionally share information about the topic and answer questions easily.
At the same time, the guest speaker must be able to be contacted, and there should be an appeal for them to participate. A formal email to the specialist speaker or team must include the purpose, information about the hosting business, location & data and why they are perfect for the event. An experienced guest(s) can attract many attendees and be a great marketing factor.
Getting sponsors for an international business conference can benefit the hosting business and the event. It is a common strategy when organising any business event in Asia.
Sponsorships can help financially and create future relationships with different brands. Sponsorship brands can include food and beverage, event-subject relevant brands, media or local brands. Hosting businesses could also strike a deal with nearby hotels to get the conference attendees a discount.
Getting the right sponsors can make a big difference by increasing the event’s budget and credibility.
Purchase Event Insurance
Hosting an international business conference comes with various risks; hence hosting businesses must purchase insurance for protection. The best insurance for business events is event insurance. The insurance provides expert coverage when things don’t go as planned.
Event insurance covers risks such as cancellations, third-party injuries, property damage, and no-show of essential speakers. The insurance is a must no matter how big or small the event, as things could go wrong at any point.
Also, insurers can customise the insurance to different events to make it more efficient. Hosting businesses should honestly communicate their risks to insurance companies to get the best coverage on the big day(s).
Promote the Business Conference
A successful event should look full and have excitement among the industry. Marketing and promoting the business conference is crucial to attract attendees and increase the event’s reputation. Marketing should be through B2B platforms that the target market will use, such as LinkedIn and emails.
An appropriate budget should be dedicated to marketing efforts to promote in the best way. Especially if it is the first time the business is hosting a business conference promoting will be even more essential.
The marketing team should construct the promoting strategy around the conference’s target market and why they need to attend. A successful marketing strategy will bring in more attendees and be a great start to the event.
Professionals benefit from conferences due to the knowledge and networking event experience. During the marketing process, there should be different platforms where professionals can either contact the host or book tickets online.
A website is one of the best ways for the public to get tickets and learn more about the international business conference.
However, knowing how many seats can be sold is essential, to avoid overselling or underselling. If there are a large number of seats left, the hosting business may need to increase its marketing efforts and email more companies in the local area too.
For a smooth-running event, the hosting business must hire staff to help manage, usher, serve and more. Hiring the right staff is vital; they must have the right experience in such events and be able to handle tough situations.
When hiring staff, the hosting business must ensure they have the proper insurance to protect them. Work injuries are always likely, and the hosting business will be liable. The staff may only be part-time, so the company can purchase personal accident insurance. The insurance will cover all their medical cover and compensation.
Having employee protection insurance can help the staff and save the business a large amount of financial loss. At the same time, the company should ensure they are keeping their team safe and following all local labour laws.
The last step is executing the international business conference. Hosting businesses must ensure the event flows smoothly and attendees and speakers are comfortable. There should always be management staff to help deal with any issues at the event.
A successful conference could create growing hype for next year; over time, a business could even invite celebrity speakers. Hopefully, the event meets its purpose and objectives.
What Event Insurance Is Crucial for An International Business Conference?
As mentioned, event insurance is crucial to hosting any international business conference. The insurance provides financial, and reputation cover that no other insurance may provide.
Event risks can occur at any point and disrupt the event and the business effort. One of the worst risks is cancellations. As businesses spend 100 of thousands on the event and if cancelled, they will be liable to refund all tickets and lose a significant amount in deposits. Thankfully event insurance will cover the costs.
However, businesses must understand what risks are covered and what is not. For example, a business should quickly claim costs covered, and should not relax when situations are not covered.
With event insurance, hosting businesses can focus on the international conference and provide the best experience.
To Learn More about business event insurance and protect your business conference in Hong Kong & Asia, contact Red Asia Insurance.