Hosted buyer/1-to-1 partnering events are currently the most attractive events model for independent organizers, with 18% of survey respondents planning an imminent launch and 32% indicating an interest in the model, according to results of the Events Sector Benchmarking 2024, a report from Collingwood and the Society of Independent Show Organizers (SISO).   

What types of hosted buyer events are independents planning? According to the survey, 81% are currently producing or considering launching roundtables with multiple buyers, sellers, and potential partners, while 69% are currently producing or considering launching 1-to-1 pre-arranged meetings between one seller and one buyer.   

“The importance of demonstrating and delivering sponsor ROI is clear throughout this report, and because such events advance prospects through the buying funnel more quickly than many traditional SpEx [sponsors and exhibitors] offerings, they can offer a more immediate, evident return,” wrote Collingwood Strategic Advisor Pauline Coulter in her analysis of the data.  

Methodology: Collingwood and SISO surveyed 155 industry professionals to explore their challenges, opportunities, and current performance. This report presents the results of the research. Respondents were predominantly independent organizers of B2B events, headquartered in the U.K. or North America.  

Context: SISO membership is a combination of large corporations and small entrepreneurial enterprises that produce more than 3,500 events and create an overall $122 billion impact on the global economy. Collingwood serves as an M&A advisor to independent media companies.   

Deeper dive 

Collingwood Events Practice Lead & Head of U.S. Steve Corrick presented the results during a SISO Small Business Group webinar on Feb. 19. The survey results, along with key analysis by Collingwood, can be downloaded here.  

“There was a lot of talk around headwinds, particularly around the cost of doing business rising,” said Corrick during the webinar. "That was leading to organizers implementing price increases where possible.” 

When we asked about the biggest surprise in the data, Collingwood Global Managing Director Corporate Finance Adam Shaw said: “The biggest surprise for me was seeing 70% of event organizer still doing virtual events.”  

From Corrick’s perspective, the biggest surprise: Event organizers report they are diversifying revenue into areas like marketing services, but they aren’t generating much revenue. “On the one hand, everyone's doing it or planning to do it,” he said. “On the other hand, people are not quite getting there, certainly from a P&L standpoint.” 

10 Takeaways 

Here’s our curated list of 10 survey highlights.  

1. Diverse portfolios. Today’s independent events organizer typically operates a diverse portfolio, including different event formats (awards, conferences, trade shows, virtual events, etc.), business models (community, subscription), and regions. The trend looks set to continue, with only a small percentage of independent event organizers not interested in further diversification.   

2.  Top challenges. rising costs and customer budget cuts. The challenges facing the events sector didn’t end with the COVID pandemic. While the industry has enjoyed the bounce back, it is now facing a somewhat unfavorable macroeconomic environment. Costs, cuts, and competition are the biggest threats.  

3. Double-digit increases in some costs in last year. Two-thirds of respondents have seen food and beverage (F&B) costs rise by more than 10% in the past 12 months. Other costs increasing more than 10% in the past 12 months: transportation (34%), power (34%), and square footage (26%). 

4. Cash flow: price increases the norm; earlier forward bookings a priority. Nearly two thirds (62%) of respondents are increasing prices. Starting earlier with forward bookings and increasing rebooks are also tactics high on the list to increase cash flow, as is general cost-cutting, in response to an uncertain macroeconomic climate. 

5. Attendance drivers: a desire to learn. When asked to rank drivers of attendance based on how important they typically are to their event attendees, organizers ranked the top three drivers as: learning (27%), networking (18%), and business development (15%). 

6. Attendees are increasingly selective and slow to book. Among respondents, 89% agree that attendees are being more selective about the events they attend. Three-quarters of respondents agree that attendees are booking increasingly late. At the same time, demand for personalized, experiential, and niche events is on the increase.  

7. Quality over quantity. For sponsors and exhibitors, 86% of organizers agree that these customers are looking for quality rather than quantity when it comes to leads and connections, but they also demand a return on their investment (ROI), with 84% agreeing they want more evidence of ROI.  

8. Biggest opportunities: develop new business models and specialize to own a niche. Half of respondents consider one of the biggest opportunities for organizers is to drive revenue from new business models. Rounding out the top three: 47% said specialization and the opportunity to own a niche, and 46% said leveraging data. 

9. M&A: larger event organizers and PE seeking acquisitions. Only one quarter of event organizers are openly looking for businesses to acquire. However, 91% of PE-backed event organizers are seeking targets, as are 60% of public companies. Trade shows top the wish list, with 68% indicating they are a primary target. 

10. Buyers expect pre-COVID levels of success. Buyers expect their targets to have bounced back after COVID, with 77% agreeing they expect event organizers to be performing ahead of where they were in 2019. Opinion is split on whether audience volume or value is the best indicator of a successful event.