02 Jul 2015

The Meeting Professionals International (MPI) industry body produced a report that caught our eye recently, as it discovered that events and meeting planners are having to deliver more at events, but with tighter and tighter budgets; hardly seems fair, does it?
According to the Meetings Outlook Report, even though budgets are growing within the sector, so too are costs associated with running an event and this means professionals are still feeling the recessional pinch. According to 28% of the respondents, one way to tackle this is to focus on regional, local or in-house meetings and events, and 25% believe trying to include more content in a shorter amount of time is another way to face the issue. Technology is also receiving a significant amount of focus as it can be leveraged to help planners provide what they need to, yet stay within their financial limits. This points to what the MPI call a more “strategic” approach to events.
The report itself questioned MPI members and events professionals on the MPI Business Research Panel.
Whilst the idea of having to provide more to event attendees with less may seem daunting, 74% of the respondents did also believe that overall business conditions would improve in the near future.
One of the other changes that is due to come about is a renewed interest in live events, opposed to virtual ones. In fact, 60% of respondents believe they will witness a boom in live event attendance – this is up by 7% compared to those who said the same last year. In contrast, 56% predicted an increase in virtual event attendance – a decrease of 10% from 2014.
So despite the possible gloomy news regarding events budgets and costs, it seems that the wave of “young, bright, energetic professionals” (as Bill Voegeli, president of Association Insights, says) will bring with it an innovative and exciting new era for the events and meetings industry.
Are you having to deliver less for more? How have you navigated around this? We’ve helped some of our clients reduce their event costs this year and stretch their pennies further by digitising their promotional materials and literature, totally removing the need to print brochures.

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