According to Wikipedia, “in business theory, a disruptive innovation is an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances.” While we wouldn’t consider Covid an innovation, it certainly has caused a disruption in the events industry.
Revenue projections for companies relying on live events have been upended. Huge companies have downsized by percentages previously unheard of. Virtual event technology companies with “nice to have solutions” are now “have to have”. And the playing field has been dramatically leveled.
Most of us in our role in the industry don’t get the opportunity to truly innovate. As event and experiential marketers and planners, that exercise usually happens before anything gets to us and then we put on our experienced creative hats and operational boots to ensure the experiences we create effectively deliver on those visions.