Spending on events and brand experiences within the corporate sector
is expected to rise by as much as 83 per cent according to the Annual ICE Report.
However, the report warns that this is not just a sign of growing
confidence in events, but a reflection of the spiralling cost of running events
as inflation and the cost of materials, people and fuel all begin to affect the
sector.
Launched at Cvent CONNECT Europe, the report also uncovered the key challenges for brands and event departments
in 2023, with sustainability (59 per cent) remaining a key challenge. The issue
was ranked ahead of measurement of event performance (51 per cent), which
remains a key issue, and ensuring the brand is represented consistently across
events (41 per cent). Diversity, equality and inclusion (37 per cent) is a key
issue and has also now risen into the top five challenges.
In addition, the report reveals that many event organisers still
struggle to capitalise on attendee and engagement data from their in-person
events. 41 per cent of respondents said that in-person experiences don’t provide the insights they need, even though 59 per cent
look to use in-person data for making a business case for future budgets, 53
per cent for improving overall event strategy and 51 per cent for developing
future content.
The report is produced annually by ICE (In-house Corporate Events)
supported by Cvent and reflects the sentiments of those event professionals that
work solely within brands.
Anita Howard, CEO and founder of ICE, said: “After
a tough few years for the industry, the report shows a return to form with
investments in events going up and the continued, although gradual, move of the
event professional up the ladder in terms of marketing mix.
“It’s great to see that so
many organisers recognise the unique opportunity we have to leverage our
in-person and virtual event platforms to drive real change and positively
impact the lives of people around us and the world we live in –
especially as it relates to sustainability and DE&I,” said
Felicia Asiedu, senior marketing manager at Cvent Europe.
“However, the fact that so many industry professionals
are struggling to gather the right data from their in-person events is a
concern – especially given how many respondents highlighted
the incredible value they place on data. Through a more focused approach and
the use of integrated technology solutions, planners can better support data
capture to deliver robust reporting with powerful insights.”
In other areas of the report, lead times continue to be a challenge
for in house event organisers with just 6 per cent given more than 12 months’ notice on event programmes.
However, for the first time in a year, the report says that average
team sizes are increasing, up from an average of 16-17 to 19-20.
Since the first edition of the report in 2019, there has also been an
upward trend in the number of event planners reporting to the marketing
function, a move that ICE advocates for. However, a notable proportion of
respondents still report to a variety of business functions, which the
organisation sees as an issue for the industry as events look to show their
value within large corporate organisations.
In 2020, 49 per cent reported into marketing; this year however the
number has risen to 55 per cent.
Howard added: “Within the report, there was an
undercurrent of concern brought up around flexible working, working from home and mental health
resource which shows event professionals taking on greater strain. As the industry
gets back into prosperity, we do need to protect our people from burnout and other
mental health strain.”
