Traditional showcase events are failing to meet the
expectations of 81 per cent of event buyers research by The Delegate Wranglers
and CUSTARD has found.
Although the survey of event buyers and venues identified
that venue showcases are well-attended – 87 per cent of buyers attend them with
78 per cent deeming them ‘essential’ to review a venue’s facilities - only 19 per
cent of buyers said the showcases they attended were impressing them.
Furthermore, event buyers are only accepting one in five of
the showcase invites they receive each month, meaning venues have to work hard
from the outset to boost attendance figures.
With venues generating an average return of £94k in
confirmed bookings following a showcase, the benefits are evident. However, on
average, 13 per cent of the annual marketing budget is being used with many
planning to increase this amount in 2024.
Neil Thompson, founder and managing director of The Delegate
Wranglers, said: “Our research shows that event buyers are inundated with
invitations, so it’s crucial to avoid a blanket approach. Whether that’s on the
timing of the showcase, through to the various approaches to the format, understanding
what it is that buyers are looking for will go a long way in shaping future
strategies that deliver what is actually wanted.”
Other key findings from the Delegate Dispatches report, ‘Are
the days of the showcase numbered?’ are:
- There is a disconnect between venues and buyers
when it comes to the best time to hold a showcase. Two-thirds of venues prefer
Thursdays and autumn, but two-thirds of buyers prefer to attend an event on a
Wednesday in spring.
- The best time of day to start a showcase is
5:30pm according to both buyers and venues.
- More innovative formats are sought after by more
than half of buyers, and many are keen to know what they can expect from the
event before they turn up.
- For almost all (93 per cent) buyers, visiting a
venue they’ve not been to before is the main reason to attend a showcase.
- Venues typically experience a 68 per cent attendance
rate for those who have accepted an invitation.
- 79 per cent of buyers would like the venue to
follow up with them within three days of the event.
Lesley Whyte, senior account director, CUSTARD said: “It
appears that while buyers are attending showcases and they remain a firm part
of the venues’ marketing strategies, in their current guise they’re only
hitting the mark for a fifth of planners. In the year ahead it’s imperative for
venues to understand their audience and make sure every element of their
marketing spend delivers a strong return on investment. While showcases are
great, they will only work when they sit within the marketing team as a
strategic marketing tool as well as a sales driver."
Download a copy of the report here.
