Events platform Hire Space (hirespace.com) has noted a 23% increase in quarter-on-quarter venue spend, in a sign of increasing confidence in the event supplier market.
Investment by venues in Hire Space’s marketing services increased 23% in the first month of Q3 (July) vs the first month of Q2 (March). Spend was predominantly focused on digital marketing products including PPC, social media and native content.
The increase is part of a wider trend which has seen a 67% year-on-year increase across digital product lines.
Concurrent to the rise in venue spend, Hire Space has seen a significant increase in client business, with B2B in-person event enquiries up 77% quarter-on-quarter. In positive news for the sector, both volume and value of in-person enquiries are now approaching pre-pandemic levels.
Will Knowles-Mofford, managing director at Iron Bloom and Looking Glass Cocktail Club, is one venue operator to have recently increased their marketing spend. He said: “We are aware that corporate event planners will be planning their 2022 event programs slightly later than usual this year, and we want to ensure we are visible when they do. We are increasing our marketing budgets now to help ensure we’re front of mind as the industry ramps back up. Since investing in Hire Space’s Core marketing product in June we have secured £8k of new business, which is a promising sign of a resurgent sector.”
In addition to digital marketing products, venues are showing an increased demand for 3D photography, of which sales have increased by 38%. Venues are also demonstrating an eagerness to demonstrate their sustainability credentials, with demand for Green Mark accreditation increasing by over 27%.
