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Meetings Market Survey respondents indicated frustration over budget cuts, rising costs, and the challenge of delivering high-quality events with reduced financial resources.
Business event planner respondents to Convene’s 31st Annual Meetings Market Survey shared their biggest work challenges in open-ended responses, which fell into similar categories as the 2023 responses, but with budget woes taking the lead.
- Budget constraints — respondents indicated frustration over budget cuts, rising costs, and the challenge of delivering high-quality events with reduced financial resources. (Find more details below.)
- Staffing issues — planners continue to grapple with shortages, retention, and difficulty in finding qualified team members.
- Workload — event professionals talked about the stress of managing high workloads, with understaffing and time pressures leading to burnout and inefficiency.
- Stakeholder engagement — participants complained about client indecision, resistance to change, and lack of internal understanding about the important role events play at their organizations.
- Venue sourcing — venue affordability, availability, and inflexible hotel staff contribute to the frustration of event planners.
- Event logistics — last-minute registrations continue to add to the pressure of executing events.
- Leadership and internal culture — the majority of comments in this area reflect frustration with leadership, lack of direction, and micromanagement.
- Technology — while planners’ comments don’t indicate a resistance to the proliferation of tech tools, they expressed some frustration about slow adoption, being able to stay abreast of new tools and platforms, and finding staff with tech skills, including AI experience.
BUDGETS
Forty-seven percent of respondents expect their overall events budget will increase over the next year by an average of 15 percent — versus 64 of last year’s survey respondents who expected an average increase of 21 percent. Just under two out of five planners say their budget will remain the same and 13 percent of event professionals expect their budget to shrink by an average of 16 percent.
COSTS
What is your biggest challenge related to costs?
The dramatic increase in AV costs post-pandemic — cited by planners as “astronomical,” “ridiculous,” and “unreasonable” — has led to planners feeling trapped, with little flexibility to use outside vendors due to exclusive agreements. Planners expressed disappointment with venues and hotels that have raised fees while simultaneously cutting services, leading to an increased perception of unfairness and dissatisfaction.
The mentions of “hidden fees,” “resorts tacking on fees,” and “service has dropped drastically” show that planners feel blindsided and let down by the service providers they rely on. Planners said they often discovered hidden or unexpected fees after budgets had been set, leaving them scrambling to cover them.
Inflation is a widespread issue that exacerbates planners’ struggles. Costs are rising faster than revenues or registration fees can keep up, leading to a sense of helplessness.
A common theme of “budgets decreasing, expenses increasing” reflects how planners feel stuck between adhering to tight budgets and meeting high attendee expectations.
Labor costs, particularly union labor and in-house AV contracts, are viewed as excessive, and the lack of flexibility to negotiate better rates leads to resentment. In addition, the consistent rise in labor costs without corresponding service improvements causes planners to feel that they are paying more for less.
Planners also are experiencing immense pressure to meet the high expectations of clients and attendees, even as costs rise and budgets remain static. There is concern that they won’t be able to deliver the quality of experience that attendees have come to expect, reflected in recurring phrases like “keeping the wow factor” and “attendees expect more.”
Planners are carefully examining every aspect of their events, from the number of sessions to printed materials, and making calculated decisions to streamline without compromising too much. They are making cuts — like no longer offering all-day coffee, and scaling back on receptions, dinners, and other social events — to save costs while trying to preserve the core value of the event.
Their responses demonstrate resourcefulness in choosing less-expensive venues and cutting back on décor, and reflect that they are resigned to scaling back on staff, transportation, and accommodations.
The 31st Meetings Market Survey
- You’ll find the results — in written and graphics form — of the Meetings Market Survey online in our November digital edition.
- Insights From the Meetings Market Survey
- Event Organizers Double Down on Sustainability
About the Survey
A total of 255 events professionals responded to our questionnaire between late August and early September 2024.
Magdalina Atanassova is Convene’s digital media editor. Michelle Russell is Convene’s editor in chief. We used ChatGPT for some of the survey analysis. Cover and other illustrations by Julie Murphy.