Events platform Hire Space has seen a 23 per cent increase in quarter-on-quarter venue spend, in a sign of increasing confidence in the event supplier market.
Investment by venues in Hire Space’s marketing services increased 23 per cent in the first month of Q3 (July) vs the first month of Q2 (March). Spend was predominantly focused on digital marketing products including PPC, social media and native content.
The increase is part of a wider positive trend which has seen a 67 per cent year-on-year increase across digital product lines.
Concurrent to the rise in venue spend, Hire Space has seen a significant increase in client business, with B2B in-person event enquiries up 77 per cent quarter-on-quarter. In positive news for the sector, both volume and value of in-person enquiries are now approaching pre-pandemic levels.
Will Knowles-Mofford, MD at Iron Bloom and Looking Glass Cocktail Club, is one venue operator to have recently increased marketing spend.
“We’re aware that corporate event planners will be planning their 2022 event programs slightly later than usual this year, and we want to ensure we are visible when they do. We’re increasing our marketing budgets now to help ensure we’re front of mind as the industry ramps back up.”
In addition to digital marketing products, venues are showing an increased demand for 3D photography and looking to demonstrate their sustainability credentials.
Benjamin Edmonds, head of promotions at Hire Space, said: ”We’re by no means home and dry yet in this sector, but companies are clearly turning their attention to in-person events again, so it’s a good time to invest in marketing and brand-building. The right marketing now will help venues get ahead of the game. It’s great to see this positive trend.”
M&IT editor Paul Harvey is a journalist with more than 15 years of experience. He began his career in the local press, working for various titles across the north. Since joining M&IT in 2013, he has become a trusted and respected voice in the sector, championing event professionals and reporting on all aspects of the events industry for the brand.
