How will aggregator platforms revolutionise corporate events?
By Digby Vollrath, co-founder and CEO, feast-it.com
Over 1.3m business events are held in the UK each year. The corporate events industry clearly holds a dominant position within the wider industry, and as such generates more than £20.6bn in gross value (GVA) each year. However, it’s a really fragmented industry with many thousands of suppliers, but no one company with more than about 1.5% market share.
What this means that the corporate events industry can be a lot more complicated to navigate than it needs to be. There’s a lot of unwarranted discovery that needs to be done in order to simply find the right supplier for your event. And with so many options out there, searching, comparing and discovering the right one, can be pretty overwhelming.
Being such a fragmented market, people will typically only know of a few suppliers in the industry, but each event has the potential to be completely different, meaning that you won’t often know the best option to go with. Aggregators solve this problem by giving you a good view of the market.
In addition to this, corporate events are very specialist and each can be so different, requiring very specific types of suppliers. Whether you’re looking for an inside or outside caterer, cheap or high end, public facing or private you’re unlikely to find the right supplier until you’ve spent hours researching. Aggregators like ourselves aim to be ‘in the know’, so if you go to an aggregator they will hopefully have knowledge and supply you with what you didn’t even know was out there. But be wary, not all aggregators operate like this, some are more like open directories, allowing anyone to join, so you need to ensure they are 100% curated.
The power of aggregator platforms for the future of conference catering is ginormous! We are making sure industry problems are overcome - letting you search, discover, compare and book suppliers in one place.
Benefits of Aggregator Platforms
First and foremost, aggregator platforms save time and increase ease. As most people in business know, saving time and making things less stressful is extremely valuable.
In addition, aggregator platforms let you truly cater for all your guests - whether that be vegan’s, flexitarian’s or full-time carnivores.
Aggregator platforms also give small businesses the opportunity to compete on the same stage as bigger companies within the industry. You should see aggregators as experts within their industry, linking you to the knowledge of suppliers you didn’t even know were out there.
The corporate events industry can be very localised and as a result, organisers miss out on the perfect caterer for their event. Aggregator platforms can help with this, allowing event organisers access to people outside their typical geographies.