Corporate Events Industry

[logicfusion]

Hi

I was wondering whether any of the forum members worked in the corporate events industry?

I'm currently developing software specifically for this sector which will be key to my new business plan. I can't say too much at present as a: I've not finished the software and b: I need to keep it under my hat (no offence) :redface:

The corporate events industry was quoted to be worth £7.2bn in the 2006-2008 period (source: Eventia). This is after having experiencing a loss of £800 million.

I worked for a flagship Event related UK company for 5 years in a senior IT position previously before moving on.

Its come to the point where I've decided to have a go at starting my own business.

I'd be interested to see how anyone else involved in this sector is currently fairing?

Cheers

Al

 

[westend]

2006 was a long time ago. This is a tough sector right now.

Many financial institutions are just not in the picture any longer, as they don't want their staff to be seen enjoying corporate 'jollys'. Many people in corporate hospitality are missing these bigger, high-spending clients.

Your new software will have to demonstrate how it can massively save money. I suggest you get out out to some free beta testers first, then collect their hopefully excellent testimonials to use to prospect paying customers.

Good luck

PS We wont be in the market as we have proprietary software & systems that we are very happy with in all respects.

 

[logicfusion]

Hi WestEnd,

Thanks for your reply.

My software will not be for sale to anyone, rather it will become an integral part of the business / solution I am planning to offer which is a niche area.

There are several event sofware item offerings out there.

I'm not interested in selling 'cheap' (I hate that word) software, but want to slowly build a reputation.

I still believe I can provide a software solution that offers business value pitched at a price that is 'affordable' relative to the associated benefit.

You are quite right about the events industry having gone dowhill. Marketing / Events is one of the first things to be cut back on in business. Furthermore, your point relating to 'appropriate' financing of corporate events and public perception is very valid indeed.

All I can say is I have first hand experience of working in events for the some of the biggest major bluechip companies and the associated software. On its own, this amounts to didly squat! But it does mean I have an understanding of the sector I am looking to enter. Which is a good start. :redface:

Its all a bit cryptic at this stage I'm afraid.

This all may come to nothing. It might not work!! But, you only live once!

I'm impressed with this forum and participants.

Thanks Again.

Al

2006 was a long time ago. This is a tough sector right now.

Many financial institutions are just not in the picture any longer, as they don't want their staff to be seen enjoying corporate 'jollys'. Many people in corporate hospitality are missing these bigger, high-spending clients.

Your new software will have to demonstrate how it can massively save money. I suggest you get out out to some free beta testers first, then collect their hopefully excellent testimonials to use to prospect paying customers.

Good luck

PS We wont be in the market as we have proprietary software & systems that we are very happy with in all respects.

 

[adventurelife]

I have several businesses all with an input into corporate events in one way or other. Without doubt the sector is taking a huge kicking! The banks used to be a major source of revenue for us

That said as in all downturns the chance to thrive and grow is always there you just have to attack it by different means. We are still growing and recruiting so the business is still out there just a bit harder to get at.

Not actually sure what you product or service is, but I would imagine selling anything to corporate event companies will be a hard slog at present and for the next several years as it will be one of the very last industries to recover.

 

[logicfusion]

I'm referring more to corporate conferences, meetings, training seminars etc.

No doubt it will be hard to break into. However, even though we are in recession now - I'm optimistic for future years. History tells us there is normally a boom after a bust period. Its just a matter of hanging in there. How long ? Who knows for sure