The Eastside Rooms’ cost of living impact survey reveals that 45 per cent of associations and not-for-profits are experiencing increased difficulty securing sponsorship for their conferences and events.
The Eastside Rooms, a leading, modern venue in the heart of England, surveyed 125* event professionals worldwide to identify challenges and opportunities caused by economic challenges. A key finding from the report was that 83 per cent of organisers saw increased event costs last year. However, alongside the broader impact on organisers, the survey also explored challenges in sponsorship acquisition.
The challenge of securing sponsorship cited by 45 per cent of association/not-for-profit respondents is compounded by 41 per cent, who see decreased available funds. This means that even when sponsors are willing, they have less to spend. Adding to the difficulties the associations/not-for-profits face is a reduction in available sponsorship opportunities. 29 per cent said they find identifying and offering sponsorship opportunities harder, led by challenges such as lower delegate numbers and smaller exhibitions.
The corporate respondents were also asked the same questions, though less relevant to them, with 55 per cent responding that the questions were not applicable. Ten per cent are experiencing difficulties securing sponsorship, 10 per cent are seeing reduced availability of funds, and 12.5 per cent are seeing fewer opportunities available to generate sponsorship.
“Sponsorship is often a vital part of any association event, providing additional revenue streams. A decrease here directly impacts an association/not-for-profit’s ability to successfully deliver their event, which can mean a need to cut back other areas of the event, potentially impacting the delegate experience,” comments Leanne Bladen, Director of Sales and Marketing at The Eastside Rooms. “The more we understand the challenges faced by our clients, the more we can do to support them. This is a perfect example, as these insights allow our team to explore areas where we can help clients identify, source and deliver new sponsorship opportunities within our venue and hotel, allowing them to deliver the optimum delegate experience.”
* The Eastside Rooms surveyed 125 event professionals in October 2023. During the survey, they were asked what type of organisation they worked for, and these were combined into two groups as follows:
- Association, charity/not-for-profit, government/public sector and agencies focused on these sectors. Total: 80 respondents, described as associations/not-for-profits above
- Corporate companies with 500 or more employees, less than 500 employees, and agencies focused on the corporate sector. Total: 40 respondents, described as corporates above
The remaining five responses were excluded as industry suppliers.
69 per cent of the respondents were from the UK, 19 per cent were from Europe, and the remaining 12 per cent were from the rest of the world.