This July, we met in Soho for our first client breakfast. Our agency members are always keen to find out where their current and potential clients are at, what their take is on the industry and what they are looking for from the agencies they work with. So we thought we’d ask them ourselves!
We began by discussing the nature of events/ comms management. There was a collective feeling that events had changed substantially around delivery (budgets) and reach (fewer people, but more meaningful contacts). Understanding and delivering on the audiences needs and finding ways to do that in an engaging way, and on budget, is now paramount.
A lot of restructuring and revolving resources has meant that constant change is a common challenge when working on events.
There is an increased focus on getting the right people into the room, focusing far more on quality than quantity. In-house conferences are still taking place, but the days of filling ballrooms is gone. Events are also much more audience focused – events should deliver depth and be about what the audience wants to hear rather than what you want to say them. If quality is being compromised by strains on budget, then clients would rather not do it at all, or change the remit to something more doable. Once again, quality is king.
Comms around events are also being approached differently. Over larger events programmes, clients are commissioning things almost like ads to highlight what’s just gone on, and what’s coming next. There is never enough budget allocated in-house, so a constant challenge is trying to produce creative in-house comms on small budgets.
Budgets
Budgets are being squeezed, with costs up 30% but budgets not moving in line. Event planners and organisers are starting to be more disciplined when it comes to event strategy and what can realistically be achieved for the budget provided, pushing back when required.
What clients are spending their money on is also changing. Banks are especially wary of being perceived of putting on large, lavish events in the current climate, and it’s very difficult to budgets for anything innovate such as use of VR as clients see this as a risk. What they are investing in is networking opportunities, and smaller events with specific segments of their audience. Again, there is an emphasis on high quality, focused events.
Resources/ suppliers
Managing resources effectively across company needs (restructuring) and the changing nature of events (technology, skill, hybrid) are all leading to a lot of change. Clients and agencies working with them, need to be responding to sustainability requirements, issues related to Brexit and the wider international market, and it adds up to some difficult working conditions but also a lot of opportunity.
Clients use a mixture of in-house teams, external teams and local teams, as well contractors (both short and long-term). They find agencies and suppliers by going to events, by judging industry awards, by recommendations from existing partners and by word of mouth. Whilst some do carve out time to respond to cold sales approaches, others find this impossible and therefore only go through the aforementioned channels. Only 20% of events are now run from London and so clients are also looking to use local wherever possible, as on the ground knowledge reduces risk.
Recruitment is happening but in a slow and purposeful way, and team leaders are having to work hard to engage their teams and show a path to progression when there are less structured opportunities available.
Clients are facing many of the same challenges agencies are, but a common thread of the meeting was a focus on smaller, higher quality events with a strong focus and opportunity for growth. For agencies, going to events that clients will be at, entering awards that clients will judges and building relationships with other agencies and suppliers who might then recommend you, is vital when it comes to winning new business.