Cvent’s UK Planner Sourcing Report Reveals Opportunities for Hospitality Professionals to Capitalise on MICE Industry Growth
Improved communication and RFP response times among steps hotels can take to improve chances of winning MICE business
Hospitality professionals will see growing MICE business opportunities as U.K. event planners are organising more events (46% state they organise 50 or more events per year) with larger attendance (33% host events for more than 500 attendees) than in previous years. The results are published in the Cvent 2019 Planner Sourcing Report – U.K. Edition, which outlines the results of a survey of nearly 500 U.K. event planners that explores how they source venues and what influences their decision-making. The survey offers hospitality professionals the data and insights they need to win more MICE business and to ensure their sales and marketing teams are focusing on the areas that make the most impact to help them drive more profitable business.
The report highlights opportunities for hospitality professionals to improve their chances to win MICE business by addressing planner challenges across multiple stages of the event sourcing process. Key sourcing pain points for planners include slow Request-for-Proposal (RFP) response time, insufficient attention to detail, and poor communication.
“Hospitality professionals should be heartened to see that the MICE industry continues to grow, which means more business opportunities,” said Chris McAndrews, vice president of marketing for Cvent Hospitality Cloud. “U.K. planners are busier than ever, and there is increasing pressure to deliver impactful experiences that drive revenue. With these higher expectations, event planners are keen to work with the hoteliers and venues that address their needs in a timely, proactive, and concise way. The venues and destinations that make improvements to clarity and transparency of proposals and offer a more flexible approach to negotiation are the ones that will reap the benefits.”
Other highlights of the U.K. research include:
Inadequate responses and underdelivering on expectations were highlighted as key reasons planners did not select a hotel for an event.
- Slow RFP response time and ineffective communication were cited as important considerations in declining to select a venue for an event.
- 32% of U.K. planners believe that venues need to improve their attention to detail when responding to RFPs.
- More than a third (35%) of U.K. planners cited the venue not having what it promised as a key reason for not going through with a booking.
U.K. planners organise more and larger events than their global counterparts.
- 46% of respondents say they organise 50 or more events per year (compared with 19% of North American planners and 17% of Middle Eastern planners).
- U.K. organisers say 33% of their events are for more than 500 attendees compared with a global average of 22%.
- The percentage of U.K. planners organising conferences (64%), training sessions (65%), fundraisers (57%) and exhibitions (47%) is higher than the global averages.
Brand reputation and reviews outweigh venue cost during sourcing selection process.
- 41% of U.K. planners consider a venue’s brand reputation before deciding to send an RFP and 37% research reviews.
- Both of these factors are considered more important than venue cost (cited by 36% of U.K. planners as the most important consideration before sending an RFP to a particular venue).
The top 10 influences impacting a U.K. planner’s decision to ultimately book a certain venue are:
- Existing relationship with venue: 44% of planners selected this consideration
- The unique atmosphere of the venue: 37%
- Ease of staging: 36%
- Location of venue: 35%
- Brand/chain affiliation: 35%
- Customer service: 34%
- Complimentary amenities: 34%
- Venue cost: 32%
- Availability of preferred dates: 32%
- Meeting space layout: 30%
To download the U.K. edition of Cvent’s 2019 Planner Sourcing Report, click HERE.
To download the global edition of Cvent’s 2019 Planner Sourcing Report, click HERE.
Cvent is a leading meetings, events, and hospitality technology provider with more than 4,000 employees, 30,000 customers, and 300,000 users worldwide. Founded in 1999, the company delivers the most comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create unmatched experiences. Cvent is headquartered in McLean, Virginia, just outside of Washington D.C., and has additional offices in London, Frankfurt, Dubai, Melbourne, New Delhi, and Singapore among others, to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the entire event management process and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms and to service their customers directly, efficiently and profitably – helping them grow and own their business. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com, or connect with us on Facebook, Twitter or LinkedIn.