The Eastside Rooms in England conducted a survey of 125 event professionals from around the world to identify challenges and opportunities faced due to economic challenges. A key finding from the report was that 83 percent of organizers saw an increase in event costs last year. However, alongside the wider impact on organizers, the survey also explored challenges in sponsorship acquisition.
The challenge of securing sponsorship cited by the 45 percent of association/not for profit respondents is compounded by the 41 percent who are seeing a decrease in available funds. This means that even when sponsors are willing, they currently have less to spend.
Adding to the difficulties faced by the associations/not for profits is a reduction in available sponsorship opportunities. Twenty-nine percent said they are finding it harder to identify and offer sponsorship opportunities, led by challenges such as lower delegate numbers and smaller exhibitions.
The corporate respondents were also asked the same questions, though less relevant to them, with 55 percent responding that the questions were not applicable. While 10 percent are seeing difficulties with securing sponsorship, 10 percent are seeing reduced availability of funds and 12.5 percent are seeing less opportunities available to generate sponsorship.
“Sponsorship is often a vital part of any association event, providing much needed additional revenue streams. A decrease here directly impacts an association/not for profit’s ability to successfully deliver their event, which in turn can mean a need to cut back other areas of the event, potentially impacting the delegate experience,” said Leanne Bladen, director of sales and marketing at The Eastside Rooms. “The more we understand the challenges faced by our clients, the more we can do to support them. This is a perfect example, as these insights are allowing our team to explore areas where we can help clients identify, source and deliver on new sponsorship opportunities within our venue and hotel, allowing them to deliver the optimum delegate experience.”
For more information, visit www.eastsiderooms.com.