Product category:
Event production, video production
News Release from: Wyndham-Leigh
Edited by the Marketingservicestalk Editorial
Team on 12 April 2007
Integration set to drive events industry
growth
The UK events industry looks set to grow significantly on the back of increased integration with marketing programmes, according to a survey for integrated event marketing specialist Wyndham-Leigh.
The survey conducted by JMA Research, which measured the views of 200 marketers with a combined events budget of around £90 million (average spend £447,000), shows that 46 per cent of those polled expect events to play a greater role in their communication strategies in the future with just 10 per cent saying their use of events will reduce Additionally, 61% say they will allocate more budget to events in the next 12 months with only 13 per cent likely to reduce their budget
Integration of events into marketing programmes looks set to lead the growth with a rise of 30 per cent predicted in the use of events to support web/viral driven activity.
Additionally, Direct Marketing (+15%), Advertising (+6%) and PR (+4%) programmes all look set for greater integration with events.
This is in contrast to the use of events for internal communications, which the survey indicates will fall by 10 per cent in the same period.
Andy Hill, Director of Events for Wyndham-Leigh, commented:"Marketers are recognising the benefits of integrating events into their communication strategies.
"What is clear is that web is growing in importance - its positive impact on the events industry is growing 100 per cent quicker than anything else and it is almost certainly behind the fall in the use of events for internal communications.
"It will reshape our industry and that process is already under way".
The survey also fires some other warning shots at the events industry.
Budgets are coming under increased pressure with 50 per cent of respondents saying they are under quite a lot or a lot of pressure to justify the return on their investment (ROI) in contrast to just 10 per cent who say they are not under any pressure.
Additionally, only 6% say they are under less pressure to justify their ROI than three years ago while 65% claim to be under more or a lot more pressure.
"There may be more work and it may well be really exciting work but value for money and effective measurement are becoming the Holy Grail for marketers", said Hill.
"Events businesses that ignore this do so at their peril: it's no longer enough just to deliver a great product, good cost management and measurement must be part of the package".
The Wyndham-Leigh survey also asked respondents to rank marketing disciplines - advertising, PR, direct, web/viral and events - against the effectiveness measures of impact, measurability and value.
Events was voted overall most effective.
It scored top in the impact category and came second to direct marketing for measurability and second to web/viral for value.
Hill added: "Every marketer will have a slightly different reason for investing more resource into events but it is clear that the ability to inject high impact while retaining good measurement and ROI is helping make a compelling case for integrating events across the marketing spectrum".
Respondents to the survey were also given the opportunity to register one improvement they would like to see from the events industry.
Almost a third (30%) want more accurate costings while a further 25 per cent are looking for better venue facilities and venue staff training.
Some 14 per cent want improved ROI measurement.
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