Cvent has released its first-ever Australian edition of the Cvent Planner Sourcing Report, highlighting continued event industry growth and key factors that influence venue selection.
Cvent, a market leader in events and hospitality technology, has released the results of its first-ever Australian edition of the annual Cvent Planner Sourcing Report.
The results offer insights for hospitality professionals to attract more events and meetings business to their venues.
The report outlines the results of a survey among planners from more than 100 organisations and explores how meeting planners source venues and what influences their decision-making.
At a glance:
This is the fifth year that Cvent has delivered the report, but it is the first year the company has unveiled a report exclusive to the Australian market. The findings offer Australian hospitality professionals the key insights and data they need to improve their services and attract a greater share of the local business events market.
The report was launched at the AACB Annual Conference: Destination Business Events in Melbourne.
In the report, event planners revealed how they allocate their event budgets: 96% of planners spend a majority of their budgets on sourcing quality venues, providing a better onsite experience including food and beverage (76%), and promoting their event through digital marketing campaigns (68%).
Planners also revealed that while their budgets have not increased significantly, event attendance has, meaning planners are under added pressure to create compelling, tightly managed and financially successful event experiences.
“This is the first time we've released an Australia Edition of the Cvent Planner Sourcing Report, which highlights the growing impact that business events have in the region,” said Chris McAndrews, vice president of marketing for Cvent Hospitality Cloud.
“The results from this year’s report help to uncover important factors that influence the venue sourcing process. For example, while event budgets are not increasing for Australian event organisers, expectations are higher than ever for them to deliver an impactful experience. The hoteliers who are able to take these insights and apply the findings to their MICE sales and marketing strategies are the ones who will reap the benefits."
Additional findings from the report include:
Event professionals are planning more events than ever before
Venue sourcing continues to go digital
Event planners frequently seek assistance from external resources
Though planners remain sensitive to costs, other factors including space layout, location, and brand reputation are important
Hotel professionalism helps to retain planner loyalty and is a key part of the selection process, while meeting space layout is also a key factor
The full Cvent 2019 Event Planner Sourcing Report for Australia can be read here.
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