14 Oct 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
LONDON–(BUSINESS WIRE)–#UK–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.
About the Hospitality Cloud
The Cvent Hospitality Cloud partners with hotels and venues to help them drive profitable MICE business. Event planners and corporate travel managers source more than USD $16 billion dollars in business through Cvent’s online platforms each year, and the Cvent Hospitality Cloud offers clients direct access to these buyers. Using Cvent’s digital marketing tools and software solutions, hoteliers attract valuable leads to grow their business, maximise the value of that business, and strengthen direct customer relationships. By connecting hotels with buyers and providing technology for winning and servicing customers, Cvent Hospitality Cloud helps hoteliers grow and own their MICE business. For more information regarding the Cvent Hospitality Cloud, visit https://www.cvent.com/uk/hospitality-cloud.
Cvent is a leading meetings, events, and hospitality technology provider with more than 4,200 employees, 27,000+ customers, and 300,000 users worldwide. The Cvent Event Cloud offers software solutions to event planners and marketers for online event registration, venue selection, event management and marketing, onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the planning process to maximise the impact of events. The Cvent Hospitality Cloud partners with hotels and venues to help them drive group and corporate travel business. Hotels use the Cvent Hospitality Cloud’s digital marketing tools and software solutions to win business through Cvent’s sourcing platforms and to service their customers directly, efficiently and profitably – helping them grow and own their business. Cvent solutions optimise the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. For more information, please visit Cvent.co.uk or connect with us on Facebook, Twitter or LinkedIn.
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