Product category:
Events, meetings and conferences
News Release from: Events Industry Alliance
Edited by the Marketingservicestalk Editorial
Team on 26 June 2007
Bellwether report to monitor events
spend
The Events Industry Alliance has welcomed the decision of the Institute of Practitioners in Advertising (IPA) to research event spend in the quarterly Bellwether survey of marketing budgets.
The IPA has committed to look at the breakdown of the fluctuating 'All Other' part of the survey, which represented 23% of the budget in Bellwether Q1 2007 and over ten different activities EIA and IPA have been in correspondence on this issue since the beginning of the year
This article was originally published on Marketingservicestalk on 21 Mar 2007 at 8.00am (UK)
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The IPA has delighted EIA with the news that Bellwether Q4 2007 will research the approximate size of all the individual components that make up marketing activity, as an extension of the survey's annual breakdown question.
The EIA has welcomed the IPA's move to shed greater light on exactly where the £43 billion spent on marketing in the UK each year is being allocated.
"Having worked to develop and promote the events industry over recent years, and seeing the increased popularity of live events marketing among brand owners keen to deliver a total brand experience, this is an important step forward for our sector", said EIA group chief executive Trevor Foley.
"The move by the IPA will not only give their members a more complete picture of what's hot and what's not, but also raise the profile of this powerful and hugely effective medium".
IPA communications director Tessa Gooding said: "With IPA membership open to anyone primarily concerned with the provision of branding services to clients we have been looking at how we can evolve the survey to show more of the budget.
"The initial research we are undertaking as part of the Q4 roundup is to see how and if we can break up the 'all other' category.
"The first logical step to achieving this is to research all the individual components to ensure that we are extracting and monitoring the largest components.
"Once we have updated this data, we'll be in a position to make a decision on what the survey will track in the future".
Increased use of live event marketing by big brands, witness the recent O2 Wireless Festivals and the multitude of big brand names involved in the Taste of London event (50% owned by Channel 4) now open, only confirm research results on the continued growth of the sector.
A survey by JMA Research in March this year showed that 46% of those polled expected events to play a greater role in their communication strategies with 61% saying they will allocate more budget to events in the next 12 months.
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