Event spend thrives despite UK firms’ budget cuts

UK companies are spending more on events despite overall marketing budget cuts, according to a new report.

Research from IPA Bellwether Q3 2024 shows event investments grew 9.9% in the third quarter. Public relations, direct marketing and media advertising were other areas that saw significant budget growth. Read more details below.

Here are the top headlines for your weekly event news updates:

• Event spend thrives despite UK firms’ budget cuts
• UFI names EP official matchmaking partner for 2024 congress
• GES to go private after acquisition by Truelink
• 70% of exhibitors keen to adopt digital tools: CEIR

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Event spend thrives despite UK firms’ budget cuts

Event spending continues to grow despite UK companies pulling back on overall marketing spend in the third quarter, according to the Q3 2024 IPA Bellwether Report.

Event marketing recorded a net balance of +9.9% in Q3, ranking second among all marketing categories as companies maintain investment in face-to-face customer interactions.

The growth in event spending comes as total marketing budget revisions reached a standstill, with 21.6% of companies reporting increases matched by an equal percentage reporting decreases.

This ends 13 consecutive quarters of growth, during which marketing budgets expanded by an average net balance of +8.8%.

IPA director general Paul Bainsfair said: “The data indicates companies are prioritizing direct customer engagement despite broader economic caution.

“Events remain a crucial channel for building relationships with customers and prospects.”

Public relations led all categories with a record-high net balance of +11.0%, while direct marketing showed continued strength at +9.7%.

The report reveals growing pessimism about financial prospects, with companies reporting a negative outlook (-2.2%) for the first time in seven quarters. Nearly 24% of surveyed marketing executives expressed concern about their company’s financial future.

Despite current challenges, S&P Global Market Intelligence projects advertising spend to grow 0.6% in 2024 and 1.3% in 2025, supported by expected GDP growth of 1.2% and 1.3% respectively.

UFI names EP official matchmaking partner for 2024 congress

UFI, The Global Association of the Exhibition Industry, has selected ExpoPlatform to provide speed matchmaking services for its 91st Global Congress in Cologne this November.

The partnership follows the successful implementation of ExpoPlatform’s networking technology at UFI’s European and Americas conferences earlier this year, where participants conducted more than 600 one-to-one meetings.

The congress, hosted by Koelnmesse from November 20-23, will utilize ExpoPlatform’s AI-driven matchmaking system to connect attendees based on their professional profiles.

Ana Maria Arango, partnerships & sponsorships director at UFI, said: “Their speed matchmaking technology turns changes in event tech into chances for our members to make new and valuable connections.

“We’re looking forward to offering a quality networking experience in Cologne thanks to this partnership.”

At the UFI Americas Conference in Monterrey, the platform facilitated 357 meetings among 102 participants during a 68-minute session. The European Conference in Zurich saw 82 delegates participate in 287 meetings.

The system requires no downloads or prior registration, using algorithms to organize meeting schedules and match participants based on shared interests and objectives.

Mykyta Fastovets, CTO of ExpoPlatform, said: “We are thrilled to be the official speed matchmaking partner for UFI’s Global Congress, the flagship event for the exhibition industry.

“Following the success of our collaboration at UFI’s Americas and European conferences, we are excited to bring our advanced networking technology to facilitate meaningful connections for participants.

“Our platform is designed to enhance engagement and foster valuable partnerships – so we look forward to supporting UFI in creating a dynamic and impactful experience for its members.”

The UFI Global Congress is the exhibition industry’s largest international gathering, bringing together hundreds of industry professionals from around the world.

GES to go private after acquisition by Truelink

Global exhibition services provider GES will become a private company following its acquisition by Truelink Capital from Viad Corp, with the deal expected to close by year-end.

The transaction includes GES Exhibitions, Spiro agency, onPeak, SHOWTECH and Visit, which provide services ranging from exhibition logistics to event accommodation and registration.

GES President Derek Linde will become President and CEO of the standalone company, which employs 2,600 people and partners with thousands of union workers globally.

He said: “This is an exciting time for GES. The business has tremendous momentum, and our team is driving strong revenue growth, margin expansion, and client service.

“The publicly traded Viad conglomerate has been a great home to GES for decades and we are excited to start a new chapter as a private company with Truelink, who believes in our ability to continue delivering industry leadership, innovation and growth.”

Truelink’s co-Founder Luke Myers added: “GES is a trusted brand with a proven track record of delivering best-in-class services to the global exhibitions and experiential marketing verticals.

“We look forward to collaborating with this talented team to help the company realize its full potential.”

GES serves clients across healthcare, aerospace and defense, financial services, manufacturing, technology and retail sectors.

The leadership team will retain Jeff Quade as GES NA Exhibitions President, Jason Stead as GES EMEA Exhibitions President and Jeff Stelmach as Spiro President.

The acquisition remains subject to customary closing conditions.

70% of exhibitors keen to adopt digital tools: CEIR

More than 70% of exhibitors are adopting digital tactics at trade shows, according to a new report from the Center for Exhibition Industry Research (CEIR).

The report, part of CEIR’s series on exhibition floor engagement, reveals that 84% of exhibitors invest in booth staff training while over 81% evaluate attendee engagement efforts.

CEIR vice president of research Nancy Drapeau said: “The findings in this report highlight a highly engaged and committed exhibitor base, promising a bright future for face-to-face marketing at trade shows.”

The study shows three-quarters of exhibitors plan to improve their approaches through new attendee engagement tactics, marketing strategies and digital methods to capture sales leads.

Half of the exhibitors are requesting organizers to enhance their offerings, indicating a push toward modernization in the exhibition industry.

The report examines exhibitor practices across four areas: in-booth tactics, digital and marketing strategies, outcome evaluation and future outlook.

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