A Look at 2022 for Riggs & Co.: Big growth and a lot of learnings
Written by Katie K Riggs
Like many companies, it took a lot of work to plan for 2022, given the lack of normalcy and upheaval from the prior two years. This was even more pronounced in our industry and our clients relying on well-executed experiences. Even so, I had some lofty goals for Riggs & Co. for 2022, and I am excited to share how it all went down with you.
Year of Growth
Reflecting on 2022 and what Riggs & Co. accomplished this year, I am filled with gratitude. There is much to be thankful for when I think about our year, our clients, and the future.
Meetings Are Back!
First and foremost, all clients were back to in-person formats for their meetings and events. Even more exciting, they all saw a big increase in attendance. This aligns with the importance of providing experiences and ROI in events. After a hectic and turbulent two years, it was refreshing to be back in person with our clients. In-person meetings are at the heart of Riggs & Co.’s foundation.
Growth
For the second year in a row, we experienced 100% growth in revenue. We couldn’t have achieved this milestone without our clients. Riggs & Co. has been blessed with organic growth due to, in large part, the referrals of our existing clients and relationships. We got the opportunity to work with five new strategy clients, helping them reimagine their events and implement the Event Design Canvas. We have continued our long-standing relationships with four anchor clients and look forward to serving them in 2023.
Brand Awareness
I joined colleagues at key industry conferences, such as the Independent Planner Education Conference (IPEC) and the American Society of Association Executives (ASAE), where I co-presented a session about the Event Design Canvas. I also co-presented via webinar to USAE. As one of only 300 professionals certified in implementing the Event Design Canvas, speaking drives awareness of Riggs & Co. services and the level of expertise that a client can expect while working with us.
Strategic Direction
What has gotten Riggs & Co. to where we are today differs from what will take us into the future. I recognized the need to be more intentional about our marketing, so I brought on a marketing strategy partner, Marketing Simplicity, to help focus our efforts. We spent some dedicated time on strategic planning for 2023 and we’ll work with Marketing Simplicity in 2023 to implement those strategic marketing efforts. In addition, I wanted to enhance my business strategy skills and engaged with a new coaching program, ThriveHer, to develop new strategic business lines.
Little Learnings Drive Change
All of Riggs & Co.’s success did not come without some learnings. While I have exceeded my wildest expectations as a new entrepreneur, I more clearly understand how I want to represent Riggs & Co. and how I wish our client experience to feel.
Client Fit
Now that Riggs & Co. is established, I can more easily recognize when a client is a good fit for our programs and services. The reality is that not all clients are good clients. This year, we took on some clients that were not strategically aligned with Riggs & Co.’s goals and culture. That was an eye-opening experience for me. With that said, even if a client isn’t the right fit for us, I’ll help them find the right partner for their needs.
Pacing
This past year was extremely busy at times. I have learned that we need to better pace our clients and work loads. We know that the meetings industry has busy times and slow times. Our team must leverage these cycles differently, so we are pacing our efforts better. When we get very busy, it is easy to do the busy work and put the strategic initiatives on the back burner. We’ll have to do a better job in 2023 in planning for these times.
Looking into 2023 and Beyond
There are a few things Riggs & Co. must do differently in 2023 to make strides in the areas we want to grow. Until now, I have been the face of Riggs & Co. I have served in this capacity because it is my company; it was important to me and necessary for me to play an active role in its success. I recognize that I can’t continue at this level now that we have grown to where we are today. I will be looking to hire a junior planner to take on more tactical responsibilities. This will free up my time to sell more proactively, take on more strategy clients which is where my zone of genius lies, and continue speaking engagements. In addition, we’ll be investing in more strategic marketing to reach new potential clients and serve more industries.
Throughout this year, we have grown in ways we didn’t expect and learned a lot about ourselves and our abilities. All projections indicate the meetings industry is back and anticipated to grow in 2023. We hope you’ll join us on this journey. We look forward to working with you in 2023 and bringing on new clients to join the Riggs & Co. family. All of us at Riggs & Co. hope you had a successful year, a restful holiday, and a happy new year.