Customer events are currently a priority
As in many other areas, the current financial crisis is also making itself felt in the event sector. However, since most companies agree that customer and employee events are extremely important for corporate communication in good times as well as in difficult economic times, savings are only made in the event area and not canceled. This is the result of a survey by the full-service event agency Roadtrack AG among 105 companies from different industries based in Germany.
According to this, the event budget remained the same for 38 percent of the companies surveyed, whereas the budget for events decreased in 56 percent of the companies due to the financial crisis. This also means that these companies have less to do overall in the event sector. In addition, the tense economic situation for 34 percent of companies means that events require longer internal approval processes, and 38 percent would do without agencies to organize events. “A central task of the agencies is to always be flexible and to organize attractive events for their customers, even with smaller budgets,” says Kai Lauterbach, founder and board member of Roadtrack AG and managing director of Location Cinema.
Personal contact with customers and employees is equally important for 84 percent of those surveyed in good and difficult times, but customers come first in economically weaker times. 54 percent of the companies advocated that customer events should have priority for them during these times. For 42 percent, the type of event depends on business activity and not on the economy. 56 percent of the companies surveyed believed that customers and employees react sympathetically to reduced event budgets or regard the cuts as a sign of prudent and cautious financial policy on the part of the company. On the other hand, almost every third company thinks that savings are irritating, as personal communication is elementary, especially in economically weaker times.