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The Exhibitor Advocate and EVOLIO Marketing Release New Event Industry Research
12/4/2024
According to a new research report by The Exhibitor Advocate and EVOLIO Marketing, the growing tension between exhibitors and organizers threatens to impede the revenue of show organizers and service suppliers. "The State of the Event Industry: From the Perspective of Exhibit and Event Marketers," gathered insights from 171 exhibit and event marketers across various industries from July through September 2024. The just-released report finds that 88% of exhibit marketers identify managing costs and budgets as a significant concern. The most notable concerns related to rising costs are those outside of exhibitors' control, with 82% of respondents citing high show service costs as their primary concern. Fifty-eight percent of survey respondents also indicate budgets will remain flat in 2025, and 18% anticipate a decrease, causing exhibitors to strategically scale back event participation to manage expenses in areas within their control, like exhibit size, number of shows, and sponsorships. This budget challenge and a sense of mistrust from almost half of the exhibitors towards show organizers creates a challenging landscape for all parties involved. Show organizers must consider new ways to reduce exhibitors' costs; otherwise, the cost threats may impede organizer revenue and that of contractors and suppliers. "Our research reveals an industry at a crossroads," said Jessica Sibila, Executive Director of The Exhibitor Advocate. "With a majority of exhibitors facing flat budgets against rising costs, particularly around show services, the math simply doesn't work anymore. Show organizers who proactively take the lead in negotiating on behalf of their exhibitors and creating transparent pricing models with their suppliers could gain a significant competitive advantage in retaining and growing their exhibitor base." Joe Federbush, President of EVOLIO Marketing, adds, "This isn't just about managing costs; it's about working together to ensure our industry continues to deliver the face-to-face marketing value that companies still prioritize. This research reveals the importance of show organizers taking advantage of a major opportunity to enhance the value of their events, improve loyalty with their exhibitors, and increase revenue from their shows." The report includes detailed analysis and recommendations of how exhibitors and organizers can collaborate to improve long-term value. The Exhibitor Advocate is offering the complete research for free download at https://bit.ly/stateofeventindustry. About The Exhibitor Advocate The Exhibitor Advocate is the only nonprofit association wholly dedicated to trade show exhibitor success. Through our collective power and collaboration, we amplify the voice of exhibitors to ensure the success of exhibitions and events by collaborating with all stakeholders to promote and cultivate open communication, predictable, justifiable costs, and simplified rules and pricing. Learn more about our efforts at www.exhibitoradvocacy.com. About EVOLIO Marketing EVOLIO Marketing helps event organizers and brand marketers deliver the best results for their events and experiences by conducting workshops and research that help develop effective strategies and actionable results for future planning, execution, and delivery. Learn more at www.evoliomarketing.com. Contact: questions@exhibitormagazine.com |
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