I can’t be the only one to wonder at the mushrooming number of Expo events. Prior to the credit crunch when the intermediary lending industry supported 30,000 plus advisers, there was one national lending Expo in London and prior to the crash, one in Manchester that I can remember. The point to this story is that there are now approximately a third of the number of advisers, but the number of Expos has mushroomed exponentially.
London alone is playing host to at least three major Expos in the space of three months that I know of and that is without counting the many city-based regional events.
The question I want to pose is whether we have reached a point where we are in danger of Expo fatigue? I say that as a strong supporter of the concept, as there are still few better ways for lenders and service providers like us to gain access to a large number of advisers in one place. Also, I have been generally pleased with the response we have had since we started to exhibit nationally this year.
Indeed, next year, we intend to exhibit at more shows as well as support our network partners with their events. The trick will be to ensure that with the commercial Expos, we choose carefully from what has become a growing list of competing venues and get the maximum value (potential new introducers and renewed acquaintances) we can in return for the actual investment in the events themselves, cost of travel, accommodation and time out of the office.
No exhibitor’s marketing budget is bottomless and though our experience has been positive, there is a sense we have reached a point where there are now so many events competing for support.
Exhibitors I have spoken to talk about the dilution effect, because brokers now have so much choice as to where they can go. Fellow providers also seem less certain about how many events they will exhibit at next year. A sign perhaps that the cost/benefit analysis is becoming more difficult to calculate. It is now quite rare to see many of the big lenders at any particular venue in force at any one event. Traditionally, they have been a strong draw to bring in brokers.
Apart from ensuring good venues, adequate parking, travel links and easy access, I am sure that Expo organisers will be working to attract more brokers to come to the established events in 2017.
Today’s brokers are spoilt for choice and if this number of Expos is going to flourish for everyone concerned, they need to continue to demonstrate their importance in a marketplace with so many competing claims on time and budgets.
Jeff Davidson is head of intermediaries at Fluent for Advisers