The Anchor: 5 growth challenges for Events & Experiential Mktng biz

17 Dec,2012

By Avik Prabhu

 

In my opinion, the following are the five key growth challenges that our industry still faces in India:

 

People
We find it hard to find trained professionals with the skills necessary to deliver consistent events in a professional manner.

 

Processes
An ability to put processes in place in order to effectively and efficiently manage the life-cycle of an event as well as internal functioning of a growing agency.

 

Profits
Erosion of profit margins is another strong hindrance to growth, driven by pure execution agencies that are prepared to reduce fees to capture business.

 

Quality
To maintain consistency in the quality of ideas generated, the effective communication of those ideas and the delivery of those ideas.

 

Legal Aspects
To grow effectively, we must make it a habit to issue and then adhere to contracts for all the events that we do.

 

Avik Prabhu is Executive Director, Showtime Events (India) Pvt Ltd

 

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