Index sees 5% sector growth this year

Index Event Agency sees a better outlook for the Bt5.5-billion event-organising industry in the second half, after the sector experienced a significant drop in the first half. The target now is 5-per-cent growth for the full year.

Last year, the industry suffered 5-per-cent negative growth, co-chief executive Kriengkrai Kanchana-pokin said yesterday.

He said both private companies and government agencies would spend more in the second half than in the first, when the government was newly established and Her Royal Highness Princess Galyani Vadhana passed away. Only a few companies arranged events during this period.

"The second half of every year is usually a better period for the industry," Kriengkrai said. "The current situation is that everyone has a limited budget but they still have to consistently build awareness to boost their sales, hence they have to find the best solutions to maximise the effectiveness of their budget through advertising and arranging big-impact events."

Kriengkarn added that this was the best time for event organisers to build brand awareness, because businesses have previously kept a low profile - unlike during the boom-economy years when everyone came out fighting in a fiercely competitive environment.

Event organisers who can serve their customers' needs can expect handsome revenue, he said.

Kriengkrai said many brands tended to use more interactive media and want to arrange events more frequently than before. They aim not just for one-time events but for various media channels to maximise exploitation of the events to all potential customers.

He said advertisers such as Unilever Thai Trading had applied this strategy over the last four years, and it was now becoming more popular.

"The amount of money spent in arranging events has increased 100 per cent compared to 10 years ago," he said.

At the same time, companies are using less traditional media channels and making use of emerging channels, particularly interactive media, as consumers today are already used to simple advertisements and events.

Index Event Agency started following the trend two years ago and experienced 20-per-cent growth during the first half of this year to Bt459 million, in spite of the economic downturn when many companies are cautious about spending money for marketing events.

Agencies also need to consistently develop working systems, strategies and creative ideas to serve advertisers' higher demands, Kriengkrai said.