Deal or No Deal. What does Brexit mean for the UK Events Industry?
Yes, it’s that topic again…Brexit. But how exactly will leaving (deal or no deal) affect the UK Events Industry?
We don’t know about you, but we think it feels like Brexit has been going on for a millennia and we’re still as uncertain about the outcome now, as we were when the referendum results were announced.
The Pound is falling, no one seems to know what the real impact of a no deal Brexit would be on our industry, and frankly, none of us are prepared. But then again, how can we be?! Or is this just a silly question?
Our opinion on the whole thing? Well…we’re pretty certain (as are the stats) that the Events Industry, and Events in general, form an ever increasingly important element of the marketing and sales function. Back in the day Events have been considered ‘fluffy’ and ‘nice to do’, even ‘extra curricular’. i.e. Times get tough? Ditch the Events spend. Some thought their benefits were difficult to quantify, and ROI hard to calculate, often leaving the board skeptical.
But what now?
According to PwC, 14 shops PER DAY are lost from the British high street. Whaaaat?! We know this is true in our home town – a recent night out meant walking past 35, yes 35 vacant retail premises in the centre of a busy city. Sad sad times. With this decline of the high-street as online sales take over from well established brands, EXPERIENCES are key for almost every brand that sells to consumers, as well as brands that sell to businesses.
The trick? In our opinion? Interaction. Face to face. Realistic and honest communication exchange. Stories. Something that matters and that you remember. And something FUN!
The digital world is becoming more advanced, technology is more sophisticated, online buying patterns are anticipated and catered for, and…for goodness sake, your phone can schedule your day and tell you what to eat for dinner, order it and tell you what time to go to bed. But the Human-to-Human interaction of brands, regardless of sector, product and market is invaluable, and critical.
We believe events really are key in so many areas of future business. To keep towns buoyant and drive footfall, to give brands an opportunity to interact with customers and to create that much needed Human-to-Human interaction which technology and phones/tablets seem to be compromising. Brands need a digital voice and digital interaction, for sure, but they also need a personal one. We think it’s an uncertain, but exciting time for our industry as content and event experiences become more personal, more interesting, and more data driven. Let’s see how it develops hey…