Event Planners' Forecast for 2018
According to Special Events Magazine’s 2018 Event Planner Forecast, the outlook for event planners and events is bright as we approach the new year.
While Oklahoma City’s event market is seeing many of the trends in this national survey, our market is somewhat unique. At Cory’s Audio Visual, our team of event technology pros work to make even the biggest visions become realities for third party and in-house event planners throughout the state and beyond.
The study compared the predictions, challenges, and the steps being taken by event planners for the new year. The survey results compare the forecasts of third-party event planners and event planners who work for the company hosting events.
In the study, 83 percent of third-party event planners and 92 percent of in-house planners say they are expecting to do the same number or more events in 2018.
On the other hand, their biggest challenges differ in some areas. Here is how they responded:
Third-party planners’ biggest challenges
- Shorter lead times (50%)
- Increased competition (46%)
- Reduced client budgets (44%)
- Lack of skilled labor (37%)
In-house event planners’ biggest challenges
- Reduced budgets (50%)
- Shorter lead times (39%)
- Demonstrating value and ROI (36%)
- Lack of skilled labor (32%)
These challenges are common in Oklahoma City in-house event planners are making it more of a priority to show the ROI on their events. In addition, the team at Cory’s Audio Visual is also seeing that more and more third party event planners are brought in later due to longer processes of comparison between the growing amount of competition. These events can still turn out amazing because the client has hired the professionals to handle the challenges of a quick turnaround.
However, when comparing these statistics to our experience a few years ago in Oklahoma City, the economy’s upswing has led a trend of more events, bigger ideas, and more opportunities for third-party planners with grand openings, charity galas, and celebratory events.
46% of in-house event planners are taking steps to add new technology capabilities
The most interesting part of all the report is that nearly half of in-house event planners are adding more and more technology. Many corporate and nonprofit event planners are adding elements such as such as video walls, projection mapping, virtual reality, and more, to really grab the attention of their audience.
What are some of your projections for the upcoming year? We want to hear them!
Whether you are looking to add some extra flair to your next event, or looking to add a whole new event, our team of professionals can help your audience see, hear, and feel your message.
Contact our team today, We look forward to making your visions a reality.