Short-term thinking following recession, report finds
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The recession has led event organisers into shorter-term thinking and a stronger focus on cost, new research has found.
According to an IET Venues survey, 37 per cent of respondents make bookings one to three months in advance, while 27 per cent book up to six months ahead. A further 10 per cent of organisers looked less than one month in advance and three per cent claimed to be making decisions two weeks before the planned event.
In contrast, just six per cent were booking 12 months ahead, down 14 per cent year-on-year.
IET also found cost to be a key consideration for many event organisers in the UK. Over half of those surveyed said cost was the deciding factor behind their booking decisions. In contrast, 18 per cent claimed location was key, and price transparency and customer service sat at nine per cent.
The results were based on a survey of 78 event organisers over June-July 2010.
IET manager, Anna Clover, said a preoccupation with cost, as well as the reduction in time taken to book events, demonstrated the recession’s impact on the events industry over the past 12 months. The good news was 58 per cent of respondents planned to hold more events in 2010 compared to 2009.
“Our research shows a clear shift in focus of events organisers to ensuring events represent good value for money before considering location,” she said. “Despite organisers planning on holding more events this year, they are seeking to get the best deal possible by booking them at the last minute.”
3 Sept 10
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