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Tight Budgets Expected to Continue in 2012, Special Events Survey Says

Dec 7, 2011 1:10 PM, By Lisa Hurley

Special event professionals have learned to do more with less--it's a lesson they plan to use in 2012.

The No. 1 New Year's resolution for special event professionals in 2012? It's the same one, sad to say, that they made this year—to continue to create effective events on smaller budgets. (Read more stories about how the economy affects special events here.)

The finding comes from the annual Event Planner Forecast, conducted by Penton Media for Special Events (See the 2011 forecast here).

"Creating events for smaller budgets" is cited by 56 percent of respondents as a key step they will take in 2012 to improve their situation.

No. 2 on the list is "broaden my client base," named by 55 percent of respondents. (Note: Multiple answers are possible.)

No. 3 on the list is "marketing more aggressively," cited by 50 percent of respondents, followed by "forming partnerships with other event professionals," named by 48 percent.

ADDING SERVICES TO SPARK SALES

Some 37 percent of respondents plan to "add new services" to their repertoire in 2012, while 35 percent say they will make a stronger effort to demonstrate the value or "return on investment" of their events.

Thirty-one percent say they will seek more work from their existing client base while 30 percent say they will focus on business that is the most profitable, moving away from less profitable work.

Twenty-seven percent say they will add new technological capabilities to their skill set, while 21 percent plan to boost staff training.

Despite the fitful progress of the economy, nearly 19 percent of respondents plan to add staff in 2012.

See the full story in the January-February 2012 issue of Special Events.