Every year, Special Events commissions a research study from Penton Media to forecast trends in the corporate event market, both for the current year and for the coming year.
This year's study shows:
- The majority of respondents (61 percent) expect the number of corporate events staged in 2015 to remain about the same as their “typical” amount. One in four (29 percent) expect to stage more.
- Respondents anticipate similar trends in 2016; 23 percent expect to stage more corporate events in 2016, while 61 percent expect the number of corporate events to remain flat.
- While the majority of respondents (58 percent) expect to spend less than $500,000 on corporate events expenditures in 2015, overall the average expenditures on corporate events are $1.2 million in 2015.
GOING UP Half of respondents (50 percent) reported increased expenditures on corporate special events in 2015. Overall, the typical respondent organization increased spending an average 2.8 percent. Similarly, 49 percent expect increased expenditures in 2016, with an average increase of 3.0 percent.
The majority of respondents (60 percent) report their organizations attempt to measure the ROI of their special events. An additional 25 percent are considering doing so.
The most common methods used to measure special event ROI include revenue (65 percent), response from attendees (64 percent), new client leads (62 percent), client retention (61 percent), and total attendance (61 percent).
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