The corporate world took a big hit because of the recession, and naturally this had an effect on the corporate events industry as well. But with the slow resurgence of the economy, the spending for corporate meetings and events is said to see an increase upwards to 20%, according to a report by the Aberdeen Group.
But even though this is a great sign for the industry, companies will still have to face not only stiff competition, but also budget constrictions that will require them to make the event planning efforts as efficient as possible.
With the ever growing expectations from the attendees, this task is more difficult than ever, so these five are five trends of strategies that are expected to be used extensively by many corporate event management firms to maximise the returns:
1. Social Media Interaction and Integrating User Generated Content
With social media and smart technology playing such a vital role in today’s business world, it is no surprise that the corporate event industry is following suit – the event organisers must find a medium to interact with the attendees in order to establish and build trust, share innovative ideas and create a constructive atmosphere.
This is another reason why user generated content is becoming such a big trend in corporate event planning – in today’s world, where all content is so easily shared and information is constantly evolving, the only way to remain relevant is to allow the social media interaction to stimulate progress.
2. Marketing Automation in Your Event Planning Efforts
With event organisers facing such steep competition, they must be in constant search for improvement of their services, and this usually means providing even more value for the client.
It’s not enough anymore to simply plan a tightly run event and control the expenses – to stand out in the world of corporate event management, one must be willing to take on some of the marketing efforts, making it a responsibility of the event organiser to make the event cost-effective.
3. Technology Will Allow to Gain More Info about Attendees
Another key aspect that’s coming up big in terms of increasing the effectiveness of an event is making use of technology to find out as much as possible about the attendees in order to maximise the efficiency of the revenue cycle.
Using marketing automation technology, the event planners will strive to provide extensive profiles of the attendees, which will help to set-up the events accordingly and to increase lead generation and sales results.
4. Making It Personal
In 2014, corporate events are becoming more and more about the personalisation – attendees have their pick of different events and are looking for those that are relevant and important to their needs.
This is another area where the extensive research of the guests will allow crafting the events’ activities and engagements in a way that would be the most lucrative for the groups of people that need to be attracted.
5. Targeting the Right People
No matter how you try to spin it, in the end the whole point and goal of corporate gatherings is to generate the right leads and to make sales, so the continuing trend is going to be clarifying as much as possible the exact ideal target customer that an event should attract.
Only after this has been clearly established can any other process take place and the companies that will do this most successfully will ultimately have the advantage.
With the competition in the event industry of the corporate world as tough as ever, more companies are trying to make use of the technological advances in order to gain an upper hand.
Laser-targeted lead generation, extensive and detailed attendee profiles and carefully planned activities are all a must for a successful event, along with always keeping an open communication and allowing for user generated content to take an important role as well.
Sarah Hill is a professional blogger and creative content writer. She works as a Marketing Manager at Group Se7en Events are London’s leading event management company, delivering global meeting and free venue finding service.