Building the new: why EDGE's Jacqui Kavanagh is calling for change
Paul Harvey speaks to the industry trailblazer on why 2025 is going to be a year of change, the importance of collaboration, and what she thinks is 'the most important thing in our industry'.
“We've got a whirlwind of a year ahead”, says Jacqui Kavanagh, CEO of venue sourcing tech firm EDGE Venues.
Kavanagh has just launched EDGE Agency, a 'groundbreaking' new booking and agency management platform designed specifically for venue-finding agents.
The official launch took place at the EDGE Venues Winter Summit at The Londoner, which is where I sat down with Kavanagh to talk about future plans, current challenges, and the state of the industry.
“We're going at a serious pace,” says Kavanagh. “The exit from Trinity last year has released cash for working capital and further investment into EDGE, which we've used wisely. We’ve got a new team, a new office.”
Jacqui Kavanagh
Jacqui Kavanagh
And Kavanagh is calling for industry-wide change as well, having set her sights on cost of sale reduction.
“We as an industry do not have any choice but to change and to look for solutions, which we're really good at. Hotels and venues are already working hard on achieving great things on waste, but what about human waste and all those RFPs that do not generate business? There is no place in our industry for rewarding the generation of uncontrolled RFPs. Cost of sale reduction is the most important thing in our industry.”
EDGE’s new RFP tool takes just four minutes and 10 seconds to complete, Kavanagh proudly tells me – and it was built to specifically deal with the issue of human waste.
“RFPs are the bane of a lot of hotels, because unless you've got high conversion rate, you're doing an awful lot of work. So what you need is a really good tool that works with the data.
“It's all about quality. If you send 20 RFPs out, you're creating a business demand that's false in the industry. Every RFP is a cost to a venue. Our industry is awash with RFPs, which means that you're probably going to always be on second, third or fourth option. So if you take a month to make a decision on a venue, it's unlikely that A: it’s going to be available, and B: that it'll hold the rate.
“On average, our RFPs are three to four venues and that's why. We're changing the world that we're in.”
All of this is why Kavanagh is asking for change.
“Front line sales people are demoralised, they're so busy, and if they get it wrong they're in trouble. But they’re in a no-win situation. If you’re working on a hundred enquiries in a week, say, and out of those, you only get five of those convert - maybe it would have been better to only do 10. And do them really well.
We need change. We need to acknowledge that the world is changing. Look at our cost of sale on RFPs. We look at conversion rates, we look at who we're dealing with, we look at why we're responding to people who won't tell us anything. I'm asking for them to to help us to deliver quality, not quantity.”
Corporates are saying that the delivery of events is getting harder, she adds – and the answer lies in collaboration.
“People want more flexibility. They don't want to be tied into old-fashioned contracts. They want good value for money, they want RFPs and to identify what they're really looking for. Not what someone wants to sell, but they want people to listen to them.
“I think we have to join together and collaborate as communities. We're not competitors. We're all actually after the same thing, which is a great industry. But we want more people to work in it. We want to have credibility. I don't want people to say we're disposable. Look at Covid; we are not disposable.”
"Our industry is set for a really fast-paced change this year – and as an industry we need to be open to it."
Jacqui Kavanagh, CEO, EDGE Venues
Kavanagh was outpoken on Rachel Reeves' inaugural budget back in October, and is still adamant that the government needs to do more for the industry.
“We’re worth £70 billion – the government should be after that. They should be helping us. I was outspoken after the budget because coming out of Covid the access to cash for everybody is really low and now we're not only having the National Insurance increases, but that National Insurance is tripled and quadrupled when you look at all the suppliers that supply for a live event.
“I’ve just come back from Monaco, from the 25th anniversary of the Grimaldi Forum. What it really showed was in 2000 when the Grimaldi Forum was launched, Prince Rainier spoke about his vision, he spoke about the importance of live events. He spoke about the brand of Monaco out in the world as delivering high-end events. When are we seeing that from the UK? When are we seeing the real value?
“This is an industry we do brilliantly,” she adds, warming to her theme. “Look at Eurovision, where we had to step in at the last minute. Look at the Olympics. Everyone is learning and wanting our people to deliver events all over the world. I worry that we are going to have a talent drain again.
“I think what's really worrying is the amount of businesses that may well leave the UK. They want innovation, but it's still a very, very lonely place to be an innovator in the UK. It is hard work. When you go to a traditional bank, they don't want to know, it's hospitality and it's tech. They don't understand at all.”
However, Kavanagh is adamant that change is going to come – and soon.
“Our industry is set for a really fast-paced change this year – and as an industry we need to be open to it. Socrates said, ‘The secret of change is to focus all your energy, not fighting the old but building the new’.
“We do need to be open to change. The demand is for live events - but live events with a difference. The days of having just a tick box are gone. How can we do things differently? We need to stop dumbing down our industry. We need give it personality - and bring it back up.”
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