The Agent's Moving Story - Status Quo Doesn't Apply Unless You Are A Member of the Well Known British Rock Band

On Tuesday, 28 March I listened to a session & panel debate – What is the?status quo?in the sometimes-complex world of?commissions?

Organised by the Meeting Industry Association (MIA).? As part of their MIA Connect Day in Sheffield.

Connect Days are a regular part of the MIA calendar. With the purpose of bringing Venues, Event Agency?and Event Suppliers?together.?

Thank you to Jacqui Kavanagh?of EDGE venues, Andrew Deakin?(Conference Care),?Jon Kelly?(Meet and Potato) and?Justine Meek?(Warwick Conferences) for what was a full and frank discussion.

This topic was of great interest to me having spent the?week before, drilling down into the detail?about;? UK Agency (Venue Finding, Event Management and Creative).

So I share with you:

The Agents Story - A Moving Story

Of the 713?Directors and Account Managers?reviewed. Based at 260 agency. 59 agency were?(new to me).

Independent agencies and the new kids on the block were not included in this?research mix.

Following is the number of Agency reviewed by core activity:

217?Venue Finding

140 Event Management

263 Creative

33 Travel

On a personal note:

39 are called Chris

35 are called Claire

(From a total of 2,500 Agency Directors and Account Managers)

Number of agency based in UK Cities:

1000 London?

38 Bristol

50 Manchester

Number of agency based in UK Counties:

63 Surrey

5 Bedfordshire

44 Berkshire

39 Bucks

11 Cambridge

37 Cheshire

20 Derby

8 Dorset

8 East Sussex

43 Essex

16 Gloucester

37 Hampshire?

49 Hertfordshire

30 Kent

39 Leicestershire?

18 Lincolnshire?

10 Middlesex?

9 Milton Keynes?

10 Northamptonshire?

9 Oxfordshire?

12 Wiltshire?

19 Worcestershire?

https://moneypennies.biz/why-use-moneypennies-update/

The learnings were?when it comes to the ?status quo, it no longer applies. Almost every?Agency reviewed?had moved premises since 2019. Most?of them were still based in the same location and had moved premises. Sadly too many agency?were no longer trading.

As neither a venue or an agency it would?be wrong to voice a?view on the?complex world of commissions.

However, I feel compelled to suggest that?venues should consider introducing and paying? a?"finders fee"?to agents who?bring clients to a site visit to their venue. Which could be?paid irrespective of whether the booking confirmed or not. A small percentage to take?into account the potential booking value.

It's a positive way to acknowledge Agents efforts, cash flow and risk on the road to commission . It could do much to stimulate goodwill and growth.

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Since January 2022 Moneypennies has been tracking?3000 annual awards and conference bookings that have been placed at London and UK Conference Centres and Hotels.

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Up-to-date and relevant information can be shared with you, in a timely manner. To help you win the booking. Enabling you to be in?direct?touch with?annual award and conference?buyers from UK Associations and Corporates via email, phone and Linkedin.

Knowing?buyer requirements in advance (such as date and the name of the last venue booked) before?they have filled in the enquiry form on your?competitor's?website.

Moneypennies is:

An Accredited Member of the Meetings Industry Association (MIA)

Proud Research partner to London Venue and Catering Awards?2023

Until next time,

Suzanne

#LondonVenue #LondonBooking #BookingSolid