BEA At A Crossroads – Part 2

A few weeks back I wrote an update on the state of BookExpo (click here to read the post) and identified some key strategic areas we’ve been working on based on feedback form our customers. I’m going to attempt to make this a semi regular posting subject from me as I think my frank thoughts on BookExpo are relevant right now, so I’ll keep blogging the business updates as they come along……

In my last post I discussed the numerous frank conversations we have been having with our customers about how the show is or is not working for them. And as you can readily imagine, they have not all been the most pleasant of conversations (one pub executive told me that I must have nerves of steel based on the tenor of the conversation I’d just had with his boss). However, these are conversations we have every year with our customers. This is not a reflection of the L.A. experience or of the economy but rather part of our normal business practice of listening to our customers and adjusting our business to best match their needs. What has changed are the answers we are getting to those questions and the urgency of need.

Mayor Bloomberg said recently that it is easier to lead in hard times than easy times and I have an appreciation for what meant, but stakes go up considerably if you fail in hard times. In years past, conversations about BEA and its evolution often ended with polite indifference from our customers a “Yeah, things are fine” kind of demeanor. Now, that evolution of BEA is being demanded. That’s what our challenge is in this economy and environment.

I feel the change we are in the midst of creating for BEA is significant, however after a recent conversation with the CEO of a major publisher I was reminded that significant is relative and for BEA to remain vital, we need fundamental change, not just significant change. Fundamental change is hard and tends to alienate some and create discord for some, but I see no other choice if we wish to continue to serve our industry and our customers in a relevant and business changing way.

Nissan has pulled out of the Detroit auto show citing industry conditions. Nearly every major event Reed runs has seen a dip in exhibitor participation (but nary a dip in attendance interestingly), our book fair compatriots around the globe are feeling similar pressure from customers. Fundamental change is needed not just for BEA but for large scale events in general. If we do not re-think the idea of a trade gathering we’ll cease to gather.

As many of you know, I am not a trade show person. I am a bookseller that got a chance to run BEA, I knew little about trade shows and was frankly quite skeptical about them – I loved BEA, that was my interest with Reed. However, in spending time in this space, I’ve come to believe in face to face as a vital means for commerce. I think the value of face to face continues to be relevant as a currency even in this digital age and perhaps even more so. You simply don’t know who you don’t know. Why is most business in publishing still done over a lunch? You get the idea. However, for face to face to continue to have value we’ve got to continue to have these frank conversations with our customers and create fundamental change tin the way we deliver face to face value that reflect that fundamental change our customers, industry an, economy and society are going through.

Books must be launched. Ideas must be generated. Change must be achieved. Education must be attained. Connections must be made. Deals must be brokered. Media must be buzzing. Books must be made. The mantra is simple, the execution is complicated, but thank God leading is easier in difficult times (sarcasm added!)

-Lance

Next Post I’ll begin to handicap the major changes that are underway at BEA