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Survey reveals 8% event budget increase
Friday 17 October 2014
Events budgets have increased by almost 8 per cent, according to the latest data from the Institute of Practitioners in Advertising Bellwether Survey, which polls 300 UK companies on marketing activity and trends for Q3 2014. It reports a 7.8 per cent rise in event spend as part of marketing budgets.
That’s the same as the figures revealed in July for Q2, as confidence returns to the economy and events industry. It also means marketing budgets have now been revised upwards consistently for the last two years. A quarter of those surveyed said budgets were increased relative to their original planned figure.
Story Events CEO, Sam Gill, is not surprised by these figures. “This reflects the return of confidence in both B2B and B2C marketeers launching new products and seeing the increased ROI via pre- and post-event online activity being delivered by these events.”
“Whilst this survey does not cover spend on internal events, reports from the main London Christmas Party venues and organisers indicate that this growth is also reflected in events designed to motivate and reward staff”.
Optimism amongst marketeers is spreading too, as 38.6 per cent of companies indicated that they had grown more optimistic compared to three months ago, up by just over a point from Q2.