For the events industry, the dark days of the pandemic are quickly receding in the rearview mirror. But what lies ahead? A handful of recent studies provide event planners with vital insights and information to help spot trends, adapt to changing circumstances and expectations, and plan more effective, successful events in the year ahead.
Among the high-level findings:
- Overall, most marketers and event organizations are planning roughly a 50/50 split for in-person events and virtual/hybrid gatherings (though hybrid is a very small share) in the coming year.
- In-person events are most effective for networking (per 83% of organizers and 78% of attendees).
- That said, virtual events enable organizers to reach a much broader audience, including young parents and people with mobility impairments who find it difficult to travel, as well as prospective attendees with limited time and budget. They are also more sustainable, which is a significant priority for Millennial and Gen Z participants.
- While “Serendipity is a highly regarded attribute of face-to-face events,” (see quote source below), pre-scheduled meetings are increasingly popular with vendors that see the value in guaranteeing they will make relevant connections. 97% of event organizers say they’d like to increase the number of valuable B2B relationships made between participants at their events.
- Concerns about turnover, recruiting in a tight labor market, “quiet quitting,” and the tension around remote work vs. returning to the office are driving the selection of topics when hiring event speakers, with the top five keynote topics all relating to employee engagement in some manner.
Here’s a closer look into these valuable industry reports and highlights of their key takeaways.
In-Person B2B Events: Back and Better Than Ever (But Different)
In-person B2B events are back, in a big way. They provide more value for marketers and a superior experience for attendees compared to webinars and virtual gatherings.
That’s the core message from The State of In-Person B2B Conferences report from Bizzabo. Per the report authors:
This survey confirms the increasing importance of in-person conferences as a critical component driving meaningful experiences for attendees and success for organizations. With growing attendance, increased investment in events teams, and overwhelming support from organizers and attendees, in-person conferences have re-established themselves as the most impactful marketing channel and an invaluable networking platform.”
Here are 15 key findings from the Bizzabo report:
- 87% of event organizers report that at least half of their B2B events are now held in-person. 62% reported growth in registration at their most recent conference compared to past events.
- 80% of organizers say in-person events are the most impactful marketing channel in their organization.
- 83% of organizers say in-person events give attendees the best opportunity to network, and 78% of attendees agree or strongly agree that in-person B2B conferences offer the best networking opportunities.
- 86% of event organizers plan to schedule more or the same number of in-person B2B events next year as this year.
- More than 70% of in-person B2B conferences occur between the beginning of March and the end of September, with 42% scheduled in the second quarter and 29% in the third quarter.
- Attendees prefer in-person or hybrid events (68%) by more than two to one over webinars and virtual events (32%).
- Half of all event organizers plan at least 11 total events per year. 6% plan more than 20 events annually. More than a third of organizers plan at least 11 in-person events per year.
- 60% of all in-person B2B conferences draw between 100 and 1,000 attendees. About a quarter attract more than 1,000 participants.
- Just 4% of organizers say they provided recorded on-demand content after their events, meaning 96% missed a huge opportunity to maximize the ROI of their event content.
- The top two priorities for event organizers and increasing attendance and increasing attendee engagement, both at 19%.
- The four biggest budget items for in-person B2B events are:
- Marketing (25%);
- Catering (21%);
- Venue (19%); and
- Software (14%).
- 43% of organizers say their biggest or second-biggest challenges is fitting events into the overall marketing plans—aligning event strategy with overall marketing strategy.
- 40% of event attendees say they attend between five and nine events each year. 16% attend 10 or more events annually.
- Apps matter: 56% of attendees agree or strongly agree that “the in-person B2B conference mobile event app can make or break my event experience.” Just 1% strongly disagree.
There’s lots, lots more to discover in this study, from concerns about venues and the role of event technology to the challenges of demonstrating event marketing ROI and the top priorities and expectations for attendees when deciding which in-person events to participate in. Download the State of In-Person B2B Conferences from Bizzabo to get all the details.
Virtual Events Reflect Lessons Learned
Though in-person events are (thankfully!) back, as detailed above, virtual events will continue to play a vital role. In our post-COVID world, event participants have choices. Virtual events must offer unique value, serve the right purposes, and be marketed through multiple channels in order to meet objectives for both the hosting organization(s) and attendees.
The State of Virtual Events in 2023 from Demand Gen Report is a relatively short (eight pages) but insight-packed study that delves into those ideas, exploring the role of and best practices for virtual events today and in the coming year. Among the key points made in the report:
Content is crucial. “Online event content is easily repurposed into bite-sized learning opportunities, infographics, reports, short video clips to share on social media and more.”
Ditch the “Hollywood Squares” look. Virtual and hybrid events “must overcome ‘Zoom fatigue,’ which means ditching the static, pre-recorded video presentations. Instead, successful practitioners are adding features such as online booths that mimic in-person trade shows and virtual networking options to generate more opportunities for learning and comradery.
Virtual roundtables are popular and engaging. “Markletic data found that the most popular type of virtual event is small gatherings, such as networking opportunities and roundtable discussions…Virtual roundtables…presents the opportunity to bring peers together so they can chat about common issues or get up to date on the latest industry news…Marketing agency JLL typically opts for a roundtable format because of its intimacy.”
Align event length with event type. Large, broadcast-type events like webinars should be kept close to half an hour (plus a bit of time for Q&A). Virtual roundtables can run longer, closer to an hour.
Promotion needs to be multi-channel and consistent. Beyond their own websites, B2B marketers said their most effective channels for event promotion are email (76%), social media (60%), and partners (51%). Per the report, “cross-channel promotions need to be in sync…all these channels should tell a cohesive story, because people don’t often take action on the first post they see; they see a social media post, read an email and then see your ad.” Storytelling and gamification help drive interest and registrations.
As this graphic from Community Brands shows, other than event websites, the top three channels for event promotion are social media, email, and digital ads. Somewhat surprisingly, print media is twice as popular as pay-per-click (PPC) advertising.
Pre-Scheduled Meetings Add (Huge) Value
Events featuring pre-scheduled meetings between vendors and qualified buyers are increasingly attractive. Why? As a new report compiled by two of the smartest and savviest event pros in the business, Michelle Bruno and Dahlia El Gazzar, notes:
Serendipity is a highly regarded attribute of face-to-face events. However, structured meetings programs deliver more measurable customer satisfaction, value and revenue than ad hoc hallway encounters.”
B2B Relationships Report: Why Event Organizers are Deploying Pre-Scheduled Meetings, produced by DAHLIA+Agency and sponsored by Grip, details why and how pre-scheduled meetings provide organizers and vendor sponsors with significant, measurable value. Here are five key findings from that report:
- 97% of event organizers would like to increase the number of valuable B2B relationships made between participants at their events.
- 88% of organizers say having pre-scheduled meeting between buyers and vendors at events helps small and medium-sized (SMB) businesses grow.
- 67% of event organizers plan to run one or more pre-scheduled meetings programs at their events in the next 12 months.
- Given the need for exhibition organizers to find other revenue streams besides square footage, organizers run pre-scheduled meetings to increase ROI for participants (39%); boost NPS (24%); and increase revenue (19%).
- 62% of organizers say the term “pre-scheduled meetings” is not fully understood.
Considering the value pre-scheduled meetings can deliver to everyone involved, and in light of that last bullet point above specifically, this report is well worth reading and sharing.
ESG and DEI Considerations Help Drive Event Attendance
Millennials now represent the largest share—35%—of the U.S. workforce of any generation. By 2025, millennials will represent 75% of the global workforce. Environmental, social, governance (ESG) and diversity, equity and inclusion (DEI) initiatives matter a great deal to Millennials and Gen Z when evaluating events.
That’s a key conclusion of Survey Data Shows 59%+ of People More Attracted to Events that Are Accessible, Diverse, and Sustainable, a recent study from virtual event platform provider Hubilo. Here are five more noteworthy findings from the report:
- 76% of survey respondents say that virtual events promote equity, providing attendance options to those who may not be able to afford the event or event travel, or who cannot attend due to family obligations.
- 52% of respondents overall (and 60% of those 30-44 years old) are more likely to attend a virtual event with diverse speakers.
- 32% of respondents overall, and 41% of Millennials, take environmental impact into consideration when choosing to attend an event.
- 60% overall, and 65% of Millennials, are more likely to attend a virtual event if they believe it is better for the environment.
- Perhaps even more revealing than the responses of these participants is how they answered the survey: 88% overall responded using a smart phone or tablet (12% desktop), but among respondents aged 44 and under, nearly 100% answered on a mobile device.
As the authors observe, “Meeting audiences where they’re at vastly increases the chances of getting a message in front of them. And audiences are on their phones, even when they’re physically present at an event.”
On a related note, per the Bizzabo report (above), while 27% of event attendees say DEI and sustainability are their #1 priority, 19% of organizers cited DEI and sustainability as their biggest challenge, with another 20% identifying this as their second-biggest challenge. This report from Hubilo is vital reading for organizers struggling to meet those challenges.
Employee Engagement Concerns Drive Speaking Topics
Recent reporting from Axios and BambooHR reveals that “employees are more unhappy now than they were during the height of the COVID-19 pandemic.” That matters—a lot—because “disengaged employees can be costly, and openly unhappy or disloyal employees can directly impact company morale by creating a toxic workplace.”
Reflecting these concerns, the top five speaking topics targeted by event organizers this year relate to improving the workplace environment, according to The 2023 Speaking Industry Benchmark Report by AAE Speakers Bureau. Here’s the detail behind that along with other key findings from the report:
- The top five speaking topics event organizers are targeting this year are:
- Inclusion/DEI (56%)
- Leadership/motivation (56%)
- Mental health/mindset (44%)
- The future of work (30%)
- Corporate culture (28%)
- 81% of event organizers are concerned about the impact of economic uncertainty on their event plans for the coming year, and 72% said this impacts their event format decisions.
- Though 55% of events planned this year will be in-person gatherings, 70% of event speakers say they “prefer in-person events, as being in person allows them to feed off the energy and momentum of the live audience and creates active engagement and participation during their sessions.”
- Overall, 44% of event planners say their budget for hiring a keynote speaker is less than $10,000. But for virtual events, that figure rises to 80%.
- The top two activities event organizers hire speakers or other talent for are keynote presentations (79%) and participating in a Q&A or panel discussion (52%).
It’s worth noting that beyond or in conjunction with events, leadership development and team building are vital components in improving employee engagement and workplace well-being.
There’s lots more in this report, including expectations of speakers (66% of organizers expect a meet and greet with attendees), how organizers approach controversial topics, and how they measure success.
Wrapping Up
The events industry has emerged from the dark days of the pandemic stronger, but different. 2020 started as a year of great optimism, with rosy forecasts for growth amid a strong economy. That outlook was completely upended just a few months later.
The outlook for the coming 12 months is more mixed. Economic uncertainty and reduced employee engagement are driving adjustments to plans and topics.
In-person events are back, to everyone’s relief. But virtual events also remain popular, and dramatic improvements in virtual event technology driven by the pandemic make today’s virtual events much more engaging than in the pre-2020 days.
The reports above arm event planners with insights and knowledge to help navigate the challenges through the rest of this year and into 2024. Events are once again playing a leading role in marketing plans, but understanding the shifting objectives and expectations of participants will be vital to success.