Buyer / 1 to 1 Partnership Partnership events are currently the most attractive event model for independent organizers, with 18% of survey respondents who plan an imminent launch and 32% indicating interest in the model, according to the results of Benchmarking 2024 events, a Collingwood and Society of Independent Show OrganS (SISO) report.
What types of events of accommodated buyers, the planning of the self -employed? According to the survey, 81% are currently producing or considering launching round tables with several buyers, sellers and potential partners, while 69% are currently producing or considering launching pre-realized meetings 1 to 1 between a seller and a buyer.
“The importance of demonstrating and delivering a return on investment of sponsors is clear throughout this report, and as these events advance prospects through the purchasing funnel faster than many traditional SPEX offers (sponsors and exhibitors), they can offer a more immediate and obvious return,” wrote the strategic councilor of Collingwood Pauline Coulter.
Methodology: Collingwood and Siso interviewed 155 industry professionals to explore their current challenges, opportunities and performance. This report presents the results of the research. Respondents were mainly independent organizers of B2B events, the headquarters of which are in the United Kingdom or North America.
Context: Siso membership is a combination of large companies and small entrepreneurial companies that produce more than 3,500 events and create a global impact of $ 122 billion on the world economy. Collingwood is advisor to the mergers and acquisitions of independent media companies.
Deeper
Collingwood Events Practice Lead & Head of Us Steve Corrick presented the results during a group of small Siso companies on February 19. The results of the survey, as well as the key analysis of Collingwood, can be downloaded here.
“There have been a lot of discussion on the opposite winds, in particular the cost of the increase in business,” said Corrick during the webinar. “This has led the organizers to implement price increases as far as possible.”
When we asked questions about the most surprise of the data, the director general of Collingwood Global Corporate Finance, Adam Shaw, said: “The biggest surprise for me was to see 70% of the event organizer who always performs virtual events.”
From Corrick’s point of view, the biggest surprise: the event organizers report that they diversify income in areas like marketing services, but they do not generate much income. “On the one hand, everyone does or plans to do so,” he said. “On the other hand, people can’t quite do it, certainly from the point of view of P & L.”
10 take -out dishes
Here is our organized list of 10 strengths of the survey.
1. Various wallets. Today’s independent event organizer generally operates a diversified portfolio, including different event formats (awards, conferences, trade fairs, virtual events, etc.), commercial models (community, subscription) and regions. The trend should continue, with only a small percentage of organizers of independent events which are not interested in greater diversification.
2. Top challenges. Increase in customer costs and budget cuts. The challenges faced by the event sector did not end with the cocovio pandemic. Although the industry appreciated the rebound, it is now faced with a somewhat unfavorable macroeconomic environment. Costs, cuts and competition are the greatest threats.
3. Increased two -digit increases last year. TThird parties of respondents have seen the costs of food and drinks (F&B) increase by more than 10% in the past 12 months. Other costs increasing more than 10%in the last 12 months: transport (34%), power (34%) and square feet (26%).
4. Cash flow: the price increases the standard; Reservations before before a priority. Almost two thirds (62%) of respondents increase prices. Based on reservations advanced earlier and growing releases are also high tactics on the list to increase cash flows, as is the reduction in general costs, in response to an uncertain macroeconomic climate.
5. Attendance driver: a desire to learn. When they were asked to classify frequentation engines according to the importance they are generally towards their participants in the event, the organizers classified the three main engines as follows: learning (27%), networking (18%) and commercial development (15%).
6. Participants are increasingly selective and slow to book. Among the respondents, 89% agree that the participants are more selective on the events in which they participate. Three -quarters of the respondents agree that the participants reserve more and more later. At the same time, demand for personalized, experiential and niche events is increasing.
7. Quality on quantity. For sponsors and exhibitors, 86% of organizers agree that these customers are looking for quality rather than quantity with regard to tracks and connections, but they also require a return on investment (King), 84% agree to say more evidence of return on investment.
8. Several opportunities: develop new commercial models and specialize to have a niche. Half of the respondents consider that one of the greatest opportunities for the organizers is to generate income from new commercial models. To complete the first three: 47% declared a specialization and the possibility of having a niche, and 46% said by taking advantage of the data.
9. M & A: The organizers of larger events and the research acquisitions of PE. A single quarter of event organizers openly seek companies to acquire. However, 91% of event organizers filled with PE are looking for objectives, as are 60% of public companies. Commercial emissions at the top of the desire list, 68% indicating that they are a main target.
10. Buyers expect levels of pre-cook success. Buyers expect their objectives to be rebounded after COVID, with 77% agree that they expect that the event organizers occur before their condition in 2019. Opinion is divided on the fact that the volume or audience value is the best indicator of a successful event.