It seems that at least once a quarter, some new event sourcing platform will pop up. This blog has already discussed the possibilites and drawbacks of venue sourcing sites but, with more and more companies trying to be the next big directory of everything event managers need, perhaps it’s time to think about how things work from the other side. Are event platforms any good for suppliers? Do they actually get you work?
The answer to that question will, of course, depend on the platform and the supplier. However, there are good reasons to doubt that event platforms will create the market disruption they often claim.
To see why, let’s take a lesson from translation and interpreting. There, despite a parallel market trend to the events industry, with platforms springing up like weeds along a driveway, there are still one or two major players who dominate the scene. The biggest and best established, is ProZ.com, which has taken its size and age and turned them into advantages by launching revenue producing conferences, courses and virtual events.
Yet even a cursory glance of the discussion of the platform among industry insiders will reveal a very mixed picture. While it is entirely possible for someone to pick up clients there – and indeed many still do – much of the best work seems to come via individual direct contact.
In other words, the very best that a platform like that can do for a supplier is to function as a website. The problem with that is that it is a website that the supplier has little control over and which does not give them the kind of fine-grained data that most good website owners would use to improve their sales and marketing.
In addition, it is no secret that the jobs that come through platforms tend not to be at the very top of the price tree. Largely, the high value projects are still allocated based on personal contact and prior relationship. People still buy people first and it is highly unlikely that someone will assign a large, high-cost project to someone on the basis of their profile on a platform alone.
There are good reasons to expect that a similar effect will be found on event industry platforms. Sure, there will be some work that gets passed via platforms but the biggest projects will likely be won, not because of a shiny profile on a platform but because of trusting relationships, built up meeting after meeting.
So yes, event platforms work. But they are not disruptors. In-person contact and relationship building will still rule the day for a long time to come.