Event technology and services platform, Hire Space, provided an exclusive look at brand new market data from market research platform Explori last week, in an event geared at supporting business event planners amidst challenges faced by many in the industry.
‘The Events Outlook’, which brought together over 40 senior event professionals and event heads for a panel discussion and networking, was held at Convene, 22 Bishopsgate, on Wednesday 3rd May, and delved into optimising event programmes against stretched teams and rising event costs.
Alongside insights and advice from senior business planners, the panel featured a first look at data from a specialist exhibit marketing research program due for imminent release, shared by Chloe Richardson, VP of Senior Corporate Relations at Explori.
Among the findings from the report, Chloe highlighted that 3 in 4 exhibitors say they are feeling some pressure to cut exhibit-related costs, with 85% choosing where to exhibit based on cost.
As Chloe said: “At Explori, we feel incredibly fortunate to work closely with communities, associations, and networks across the events industry, enabling us to continually gauge the pulse of the sector. With access to this wealth of information and insights, we are committed to sharing our findings whenever possible. We are grateful to Hire Space for providing us with the platform to present our latest data and offer a snapshot of Q1 2023.”
The event was delivered in connection with the company’s Hire Space 360 service, which provides streamlined event support to corporate event planners. The service was created through consultation with event planners after the pandemic brought unprecedented changes and challenges to the industry, leaving many in-house teams with reduced budgets and smaller teams.
Designed to streamline internal inefficiencies in large corporations’ event programmes, the company has seen a 115% year on year increase in uptake of Hire Space 360 since the pandemic, as demand for events mounts, and expectations on already-stretched teams ramp up.
Hire Space co-founder, Edward Poland, said: “The pressure on event planners is significant, and services such as Hire Space 360 are becoming more and more valuable to provide support on event programmes and help keep events delivered on time and on budget. The idea is to take the strain off event professionals in venue and supplier sourcing, contracting, and onboarding so they can focus on delivering genuinely exciting and engaging events.”
The event is the latest panel hosted by Hire Space for event planners, venues, and the wider industry, with recent topics covering invisible disabilities in events, the journey to sustainable venues and event practices, and forecasts for event experiences.
Alongside Chloe Richardson, the panel featured Nikki Macmillan, Head of Events at New Financial, Kate McLachlan, Events Manager at Kennedys Law, and Craig Bennet, General Manager at Convene, 22 Bishopsgate. Eliot Sargeant, Head of Business Development at Hire Space, moderated. The key takeaways from the panel can be found here.