Interested in implementing new spending strategies to make the most of your annual budget? It's never too soon to start thinking about ways to make impactful changes.
If your company is planning to up the ante on event spending next year, procurement teams will need to be better informed on what they can expect from their marketing teams and be prepared for unfamiliar things to appear on your event RFPs.
Here’s a snapshot of the four biggest event marketing trends that will matter most —and what they mean to procurement departments:
1. Fun & Games
That’s right! Fun should be had by all, whether B2B or B2C. From giant-sized Jenga to an “Escape the Room” experience—fun and games are more engaging for attendees, and often boost information retention.
What that means for procurement professionals: You’ll start to notice these playful games and seemingly wacky items (like an Alice in Wonderland Croquet Set) on invoices or RFPs. Wondering how this trend will affect your event budget? Find out by downloading the full report.
2. Nostalgic Experiences
Our pasts are making a powerful comeback. Vinyl records, 90’s pop music and recreating old television shows—all create the feel-good moments that connect your brand with attendees.
What that means for procurement professionals: Other than possibly negotiating contracts with old-school brands, you might also have some interesting items to source, like 10,000 branded Rubik’s Cubes.
3. Festival Culture
Music and art festivals are continuing to shape business and consumer experiences. For live business events, there may be no greater influencer than this trend.
What that means for procurement professionals: Look out for event teams dropping traditional convention centers and hotel ballrooms for unconventional venues and structures.
4. ‘Full-Body’ Technology
If you’ve ever handled an event budget before, you know that technology is common. Be on the lookout for ‘full-body’ technology—i.e. Virtual Reality (VR), Augmented Reality (AR), and other immersive experiences.
What that means for procurement professionals: VR and AR requires excellent content, which has the potential to become pricey. Prepare to vet prospective partners to make sure they can deliver against your objectives.
Keep these trends in mind the next time your reviewing a live event RFP, negotiating contracts or communicating with your marketing department. Want to learn more about Event Marketing? Download our winter event marketing resource guide for procurement executives. Learn more.