Here's an excerpt:
1) Community. A conference is the one place the people who “get it” are able to come together and do a better job. The very power of a meeting comes from the community that forms for those couple days.
2) Competition. The old mantra you get 80% of your business from 20% of your customers is still true. Those 20% are looking for how to do better – these are the people who attend conferences. When you don’t listen to that need, you are cutting them off to fight for themselves. If you are a vendor, it is only a matter of time until they look for someone else who gives them the inspiration and training from a competitor. If you are an association, it makes them question what they get from being members.
Read the rest at his blog, here.