View Tim Porter's profile
Wednesday, July 8, 2009
Futurology in a niche
This little story, about a company who organise record fairs around the UK, and who are expanding, struck me as quite an interesting example of how the event industry might evolve in the UK and other mature markets.
This is clearly someone who knows his sector, and has managed to make a business that capitalizes on a global economic trend (here the decline of retailers in his industry) and which serves a loyal audience who presumably can be reached through niche - and hence cheap to advertise in - media.
Shows like this are highly unlikely to ever interest a Reed, a UBM or a Clarion as an acquisition target, but will probably keep whoever is behind VIP-24 ticking over quite nicely.
The barriers to entry in the events sector have always been low, but now the plethora of small-scale venues out there that are more than capable of hosting small niche events seems to be on the rise, with venues in Solihull, Peterborough and Coventry all opening for business - even before you factor in hotels adding space and public sector buildings opening up to try and grab their share of the events market.
Consider also how social and online media is busy creating low-cost marketing channels for event organisers to access many "niche" communities - both consumer and B2B - and the decline of print means it is becoming cheaper to launch an event - no need for an expensive media splash now.
Then add in the end of "jobs for life" and a pensions-crisis (all of which are making working for "The Man" a lot less attractive) and that there is now a market awash with unemployed, experienced organisers and maybe the end result is that these types of niches will end up being better serviced in future than ever before?
Imagine - a future where multiple independent organisers are running small-scale sustainable events in sectors they are attached to - rather than trying to pick the idea for the "next saleable asset"?
Add all this together and perhaps the type of show which will NEVER grow to be on the radars of the big players starts to look like the future of the industry?
Quite a different view to the futurologist who spoke recently at Summer Eventia in Brighton .
But hey, what do I know....?
This is clearly someone who knows his sector, and has managed to make a business that capitalizes on a global economic trend (here the decline of retailers in his industry) and which serves a loyal audience who presumably can be reached through niche - and hence cheap to advertise in - media.
Shows like this are highly unlikely to ever interest a Reed, a UBM or a Clarion as an acquisition target, but will probably keep whoever is behind VIP-24 ticking over quite nicely.
The barriers to entry in the events sector have always been low, but now the plethora of small-scale venues out there that are more than capable of hosting small niche events seems to be on the rise, with venues in Solihull, Peterborough and Coventry all opening for business - even before you factor in hotels adding space and public sector buildings opening up to try and grab their share of the events market.
Consider also how social and online media is busy creating low-cost marketing channels for event organisers to access many "niche" communities - both consumer and B2B - and the decline of print means it is becoming cheaper to launch an event - no need for an expensive media splash now.
Then add in the end of "jobs for life" and a pensions-crisis (all of which are making working for "The Man" a lot less attractive) and that there is now a market awash with unemployed, experienced organisers and maybe the end result is that these types of niches will end up being better serviced in future than ever before?
Imagine - a future where multiple independent organisers are running small-scale sustainable events in sectors they are attached to - rather than trying to pick the idea for the "next saleable asset"?
Add all this together and perhaps the type of show which will NEVER grow to be on the radars of the big players starts to look like the future of the industry?
Quite a different view to the futurologist who spoke recently at Summer Eventia in Brighton .
But hey, what do I know....?
Labels: niche events
Subscribe to Posts [Atom]
Post a Comment