The pandemic caused many well established and successful boutique venue-finding agencies to cut overheads, batten down the hatches, hibernate and shut-up shop in order to ride the storm in order to survive during the pandemic.
The storm, which we all expected to be over in 6 months, raged and raged, and each time the skies lightened, the dark times seem to relentlessly come again and again. During this time many of their client who needed to engage with their teams/clients were picked off by often bigger agencies that had become established in the virtual market.
The question is…. “Is it too late to jump into this market and if so, how can it be done”. There is clearly still an opportunity to capitalise on what hybrid has to offer, especially with international travel still limited and the threat of future ‘mutant storms’ always on the horizon.
Stuart Mitchell MD of Catch the MICE, who has worked in and with this sector for over 3 decades explores the dilemma, the risk and indeed the rewards of a late entry to the virtual / hybrid market.