The Experience Economy in MICE: How to Monetise Client Emotions?

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The experience economy is a trend focused on selling emotions and delivering unique experiences. In a highly competitive environment, customers of the MICE industry want more than just a high-quality event; they want meaningful experiences and personal involvement. Combining this concept with a sound financial strategy enables companies to go beyond material benefits. By creating emotionally meaningful events, companies foster deep customer loyalty and open new avenues for growth and increased profitability.

At the end of December, a panel discussion was held at the Meet Global MICE Congress 2025, where leading global experts discussed this topic in more detail and shared their perspectives. Participants included: Anam Ahmad, Founder and Chief Creative Officer, The Hanging House (UAE), Viktoria Grigoreva, Deputy Director Congress & Exhibition department VDNH (Russia), Managing Partner, Ahmet Shahin, Blue MICE DMC (Turkiye). Olga Stepanenko, MICE Director, IBC Corporate Travel (Russia) and Fedor Elyutin, Founder and CEO, Impresario Theatrical Production Company (Russia). Moderator - Lina Moskvina, Editor-in-chief of MICE&more GLOBAL.

Today, we want to share with you key insights and expert quotes:

"At The Hanging House, we don’t treat experiences as add-ons to communication — they are the product. We design environments, journeys, and moments that people actively participate in, where meaning, emotion, and memory are intentionally engineered. Our work focuses on how an experience makes someone feel, what it unlocks for them, and how it stays with them beyond the event itself.

The experience economy helps brands cut through saturation, build deeper emotional connection, and create relevance in a world where attention is scarce. It shifts the conversation from visibility to value — from impressions to impact. This approach gives us a competitive edge because we design for long-term resonance, not short-term spectacle.

A strong example is the global launch of the All-New Nissan Patrol NISMO. Instead of a traditional launch event, we designed an immersive, story-driven experience that placed the audience inside the brand’s performance philosophy and emotional world. With rules and brand lore, the experience extended far beyond a single night. It built sustained brand momentum, activated a global community of enthusiasts, and generated content that continued to live across markets. It reframed the launch from a moment of announcement into a platform for long-term engagement".

Anam Ahmad, Founder and Chief Creative Officer, The Hanging House (UAE)

"Today, the term "experience economy" refers to a clear competitive advantage. Events that focus on emotions and experiences are difficult, if not impossible, to replicate. This is what makes it unique. When it comes to the term itself, it's not just a fancy phrase for a short-lived trend. The experience economy is a reality that we are already living in, and it will be with us for a long time.

Data and content are no longer at the top of the MICE industry. Emotions and experiences are the main focus of event planning, whether it's for entertainment events or special business events. Some may argue that this is a paradigm shift in MICE. However, we believe that this has always been the case. Emotional engagement is the most important factor in our clients' choices, whether it's selecting a concept, venue, show program, or even inviting specific guests to an event.

The main goal is to achieve an economic effect. In the process of achieving this goal, various tasks can be set (and successfully completed): to be remembered, to stand out, to break patterns, to create an image, to emphasize status, and to create a sense of novelty, surprise, and engagement.

By the end of 2025, many media outlets were mocking the mass return of corporate events such as "kapustnik" (an amateur humorous event organized by the participants themselves) parties. It was noted that this format was once again popular due to budget cuts and a reluctance to spend money on hiring entertainers, hosts, organizers, etc. However, beneath the humorous name lies a serious mechanism for managing the emotions of event participants. Increasing engagement, becoming co-creators, and sharing the organizer's responsibility are all part of the process that leads to brand loyalty, which in turn contributes to economic success".

Olga Stepanenko, MICE Director, IBC Corporate Travel (Russia)

"In a service-based business, you focus on efficiency. In an experience-based business, you focus on engagement and duration. To implement this, businesses shift their focus from what the customer receives to how the customer feels.

• Theatrical Staging: Treating the event space as a stage and staff as "cast members." Every touchpoint—from the invitation to the post-event follow-up—is part of a scripted narrative.

• Personalization through Data: Using attendee preferences to create "micro-moments." For example, instead of a buffet, providing a personalized tasting menu based on a guest’s previous travel history or culinary interests.

• Active Participation: Moving from passive listening to active "co-creation." This involves workshops, gamification, and interactive technology where the attendee influences the outcome of the event.

The Experience Economy is a powerful tool for solving modern market saturation issues. Challenges It Helps Solve:

• Commoditization: When every agency offers similar hotels and transport, price becomes the only differentiator. Experiences prevent this "race to the bottom."

• Digital Fatigue: In a world of Zoom calls, people crave sensory stimulation. Physical experiences solve the lack of emotional connection in digital business.

• Brand Loyalty: Customers may forget a good service, but they never forget how an event made them feel. This builds long-term advocacy.

The Competitive Edge: It creates High Barriers to Entry. Any company can book a flight or a hotel. However, not every company can design a narrative that changes a participant's perspective. This shifts the relationship from "vendor" to "strategic partner," allowing for higher margins because you are selling a "result" (employee motivation, client trust) rather than a "unit" (a hotel room).

The Challenge: A high-profile client required a venue for a massive 3,000-person event. Within the industry, there was a consensus that no existing venue could accommodate such a scale while maintaining a sense of prestige and uniqueness. Competitors were unable to offer any viable alternatives beyond standard convention centers.

The Solution: Leveraging our deep-rooted industry influence and high-level strategic contacts, we secured exclusive access to a historically significant landmark that is normally strictly closed to the public and private events. Beyond merely securing the site, we managed the complex logistics of transforming a heritage location into a world-class event space. We curated an immersive experience featuring high-end catering and bespoke theatrical performances that integrated seamlessly with the historical atmosphere of the venue.

The Impact:

• Demonstration of Capability: The event served as a definitive display of our operational power and "clout." It proved to the client that we could achieve the "impossible" through our network and logistical expertise.

• Unrivaled Client Loyalty: As a direct result of this success, the client ceased all tenders with other agencies and became a dedicated, long-term partner, trusting us exclusively with their subsequent portfolio of events.

• Market Influence & Lead Generation: Given the client’s status as a major industry leader in their home country, the event generated significant buzz. Their competitors, recognizing the unprecedented nature of the venue and execution, contacted us specifically to replicate that level of exclusivity and success".

Ahmet Shahin, Blue MICE DMC (Turkiye)