Feature
Pictured: BETT Show
“We are the
only event
company to
run events
exactly the
same way,
wherever they
are”
What is TAG?
The TAG programme
involved three pillars,
Shashoua explains: “We
needed to create a scalable
platform to generate organic
growth; actively manage our
portfolio; and make product-
led acquisitions to leverage
our scalable platform in
order to accelerate growth.”
Since announcing TAG
back in May 2017, we put
investment back into the
business in order to create
that scalable platform.
A new management team
has been put in place over
the past three years, which
allowed us to centralise our
operating model and instil
operational rigour across our
core shows. This was done
by recruiting heads of best
practice and rolling out best
practice blueprints.”
Hyve also invested in its
core shows, giving them
stronger content to boost
attendance and enhance
experience. They introduced
a strategic review, pre- and
post-show to analyse and
create a roadmap for growth.
Shashoua adds: “To drive
new business, we also
rolled out a systematic lead
generation process based on
an analysis of the market. We
also introduced our first ever
Customer Service team to
enable exhibitors to market
themselves effectively at our
events.
“We also invested in our
people by upskilling and
incentivising our sales teams
to create a performance-
based culture. New
marketing, CRM and HR
systems give us a single view
of our customers and people
worldwide for the very first
time. We will be rolling
out Enterprise Resource
Planning across our finance
function to provide us
with better management
information.”
Hyve Group has reported
a seven per cent increase
in revenue to £220.7m for
2019. The company has
also reported a statutory
profit before tax increase to
£8.7m (2018: loss of £3.7m).
Headline profit before tax
increased to £50.4m (2018:
£35.4m), a 42% increase on
last year.
The company also
attributes a strong
performance to the
completion and integration
of Ascential Events and
Mining Indaba, strengthened
portfolio with the sale of
56 non-core Russian events
and the closure of 24 small
Russian and Central Asian
events during the year, and
successful delivery of the
transformation element of
the TAG programme (a more
centralised operating model
from a decentralised federal
organisation).
TAG has fundamentally
transformed the business
to a more balanced
international presence from
an emerging markets focus.
What makes Hyve different?
Shashoua explains that by
scaling back the number
of shows and building on
market leading brands,
he has, in effect, built a
more profitable and robust
business with significantly
improved ROI.
Shashoua adds: “We have
a centralised operating
model and we are the only
event company to run
events exactly the same
way, wherever they are. This
has been challenging, of
course, but we now have a
scalable operating platform
that can deliver events of a
consistently high standard.
“Notably, we have invested
in our business which means
we are well-placed to benefit
in difficult conditions.
“Mosbuild demonstrates
this: despite a decline in
the construction industry
in Russia, its revenue has
grown 50 per cent over the
last three years as a result
of TAG and by increasing
our customer market share
through putting on the best
shows.”
Hyve’s new approach
has seen a significant
improvement in their key
commercial KPIs for the Top
10 events that have received
TAG investment. Research
is strong with customer
and visitor satisfaction up
significantly year on year, the
group says.
Shashoua concludes
“We’ve not only returned
Hyve to sustainable growth,
we’ve created a world-class
operational platform, we’ve
streamlined a much stronger
portfolio comprising fewer
events that are bigger and
better.”
January — 31