In the age of the global pandemic, event marketing has undergone a seismic shift. Physical gatherings have given way to webinars and virtual meetings, reshaping the industry. However, event marketers have adapted and innovated, leading to the emergence of a dynamic ecosystem encompassing in-person, virtual, and hybrid events. In this article, we explore the trends and statistics that define the future of event marketing.
Before delving into the comprehensive report, let's glance at some of the most compelling event marketing statistics for 2023 and beyond:
$36.31 Billion Industry: The event marketing industry is projected to reach a staggering $36.31 billion by 2026, indicating significant growth prospects.
Rise of Remote Events: An astounding 90% of event organizers anticipate that large-scale events will become remote or hybrid in the next two years, reflecting a dramatic shift in the event landscape.
Event Fatigue: 9 out of 10 B2B marketers believe that buyers are experiencing "event fatigue," underscoring the need for fresh approaches to engage audiences.
Live Streaming Demand: 57% of attendees express their desire for more live streaming at events, emphasizing the importance of real-time engagement.
Virtual and Hybrid Success: Over 90% of event marketers perceive their virtual and hybrid events as successful, demonstrating the adaptability of the industry.
Let's delve deeper into the state of event marketing, offering insights from businesses and marketers:
Daedal Research forecasts that the event marketing industry, which was valued at $13.87 billion in 2021, is poised for a 12.96% compound annual growth rate (CAGR) until 2026. The dominance of B2B event marketing, comprising 40% of the industry, and the ascent of virtual and hybrid events are driving this growth.
An overwhelming 90% of event organizers anticipate the transformation of large-scale events into remote or hybrid formats. While in-person events focus on building relationships, digital events prioritize brand awareness.
Marketers express varying degrees of confidence in executing different event types. While 97% believe in their ability to run in-person events effectively, only 12% feel the same about virtual events. Increased attendance remains the primary success metric for event planners.
Event marketers face challenges such as limited human resources, budget constraints, and technology limitations. Lacking the right human resources is the top challenge, highlighting the importance of skilled professionals in this evolving landscape.
2023 marks a significant year for event marketing, with 73% of marketers increasing their event budgets. This surge underscores the industry's resilience and its commitment to staying relevant in a changing world.
In-person events continue to deliver the highest return on investment (ROI), with 47% of event marketers attesting to their profitability. This success explains why 83% of event marketers include in-person events in their strategies.
Running a successful event hinges on several factors, as revealed by event marketers and attendees:
The key to a successful event, according to 32% of event marketers, is attracting the right attendees. Ensuring that the audience aligns with the event's objectives is crucial for engagement and success.
In the realm of B2B marketing, in-person events reign supreme, with 60% of marketers planning to utilize them in the coming year. Digital and hybrid events also hold promise, reflecting the industry's adaptability.
Generative AI is gaining traction in event marketing, with 56% of marketers planning to increase its use during in-person events. This technology promises innovation and enhanced audience engagement.
Successful events are measured by attendee engagement and experiences:
B2B event attendees prioritize finding new business opportunities, highlighting the significance of networking and growth in this space.
57% of attendees express a desire for more live streaming at events, indicating a growing preference for real-time interactions.
Contrary to expectations, Gen Z individuals are open to business events, with 65% finding them relevant. Their focus on career and networking opportunities suggests a vibrant future for event marketing.
To engage Gen Z effectively, event marketers should prioritize making events more engaging, inclusive, and communicative. These improvements align with Gen Z's preferences for event experiences.
Virtual and hybrid events have become integral to the event marketing landscape:
Marketers identify challenges in providing consistent quality experiences for both physical and digital aspects of hybrid events. These challenges include logistics, attendee engagement, and a lack of knowledge on running hybrid events.
75% of attendees intend to keep attending virtual and hybrid events, even after in-person events fully resume. The success of virtual events is evident, with attendees appreciating the flexibility they offer.
Marketers primarily run online events to increase engagement, build brand awareness, and generate product sales. Zoom remains the favored technology for online events, dominating the market.
Event marketers organize various numbers of virtual or hybrid events per month, reflecting the industry's diverse approach.
Event marketers rely on engagement metrics, attendee satisfaction, and revenue to gauge the success of their virtual events, highlighting the multifaceted nature of event success.
In conclusion, despite the challenges posed by global events, the event marketing industry continues to thrive. It embraces digital experiences, offering ongoing events throughout the year. Eventgoers are receptive to this shift, with growing demands for digital content options. As we progress through the decade, events
will seamlessly blend physical and digital experiences, catering to vendors and attendees alike.
For more related statistics and trends, explore "12 Key Marketing Trends," "9 Top Business Trends," and "8 Emerging Event Industry Trends for 2023 and 2024."