It doesn’t come as a surprise that digital interactions are ruling our everyday life. However, even the screen-addicted Millennials and Gen Z-ers favor in-person interactions over virtual ones.
That’s the main reason why event marketing is among the most effective marketing strategies your business can adopt. Even digital channels such as digital advertising and email marketing are not as powerful.
Let’s see what the numbers say.
- Event marketing is the most effective channel, according to nearly 31% of marketers.
- Almost eight in ten marketers generate sales by using event marketing.
- Less than half of event planners organize their events at least 6–12 months before.
- During the pandemic, the wedding planning industry saw a 7.6% decrease.
- In 2020, most B2B marketers assigned 30% of their budget to event marketing.
- 80% of marketers say that video content is responsible for increasing their sales.
- 98% of people are more inclined to purchase after attending an event.
How many marketers think event marketing is the best option for their business? What’s the main reason behind it?
Let’s take a look at the following event marketing trends.
1. About 31% of marketers agree that event marketing is the most effective channel.
The way companies build brand awareness has changed over the decades. During the 1960s and 1970s, businesses invested heavily in print ads and TV advertising. In the 1990s and 2000s, they started to use the first digital channels like email and social media.
Event marketing effectiveness statistics demonstrate that live events took the lead nowadays.
2. 65% of attendees said live events gave them a better understanding of the product.
The figure has hugely exceeded digital and TV advertising as methods of learning about a new brand and its products. Event-based marketing gives a clearer picture of what kind of goods the company is offering. That’s why people attend conferences, trade shows, seminars, and other types of events — they’re able to explain much more about a product than an advert can do.
3. 77% of businesses use experiential marketing as their primary advertising strategy.
Experiential marketing statistics show that most marketers use seminars, conventions, conferences, and trade shows to sponsor their new product. Due to its successful outcome, more than three out of four businesses use this marketing strategy extensively.
4. 79% of US marketers generate sales thanks to event marketing.
Americans mostly use event marketing to generate sales. According to the latest event industry statistics, 78% of US marketers measure event programs, 72% increase their event marketing activities, and 65% fund the events directly. Only 14% of the respondents claimed event marketing had brought them a return on investment of 5:1.
5. The global event industry is expected to reach $2,330 billion by 2026.
The global event industry market size was about $1,100 billion in 2018, and it’s expected to double by 2026, with a CAGR of 10.3% from 2019 to 2026. However, the global pandemic has impacted the event industry significantly. Because of the strict lockdown measures, most events got delayed or canceled in order to limit the virus’s spread.
6. According to event marketing statistics, the average American attendee spends $1,287 on business events.
The average attendee expense can be lower or higher depending on the event’s venue and state. What’s more, the benefits associated with VIP passes can make people spend more than $5,000 on average. The US, China, and Germany make the most money from events.
Event planners are responsible for organizing, executing, and promoting events.
The competition within this industry is relatively high. Still, what makes a trade show, a conference, a corporate meeting, or other types of event marketing so successful are personal interactions with customers and the ability to manage costs and budgeting, for the most part.
7. 48% of event organizers start preparing for their event 6–12 months in advance.
According to event planning statistics, almost half of event planners decide to work in advance on negotiating with vendors, choosing the best venue for the event, working with clients on the concept, and so much more. There are many responsibilities that come with preparing a profitable event, so make sure to schedule everything carefully.
8. In the US, the event planning market size is $4.9 billion in 2021.
Due to the global pandemic and the restrictive lockdowns in the country, the event planning size has slightly decreased since last year. In 2020, the market size was $4,916 billion, while this year fell by 0.2%. Nevertheless, event marketing has reached its peak during the last couple of years, as demonstrated by event planning industry statistics for 2020.
9. Over 65% of event marketers say face-to-face communication is vital in event marketing.
One of the event planner’s most important duties is finding as many clients as possible. While the staggering majority adopt face-to-face communication in their strategy, the event planning market research by EventMB proves that about 45% of event marketers use social media, 33% say they don’t need outside clients, and 25% focus on content creation.
10. The wedding planning industry has decreased to 7.6% per year until 2020.
Many reasons justify the downfall of this industry. Travel restrictions and social distancing guidelines are giving the wedding industry a tough time. Wedding planning industry statistics report that fewer couples request a wedding planner to host their marriage. The spread of the virus is not the only reason behind this fall; expenses play a big part as well.
Meetings, conferences, tradeshows among B2B marketers are gradually increasing. This growth underlines the constant possibility for the event industry to generate worth and expand its reach. This value will contribute as a significant investment in the B2B events marketing industry and boost innovation.
11. In early 2020, more than half of B2B marketers planned to allocate 30% of their total budget to event marketing.
Organizers were very optimistic about the event marketing growth for the year. Their hopes got quickly shattered in March 2020 when important festivals were delayed or canceled. Event marketing statistics for 2020 reveal that due to the coronavirus outbreak, marketers didn’t invest in this industry as they initially planned.
12. 76% of B2B marketers feel that in-person events are a better strategy than any other.
In-person events are the most efficient marketing strategy, especially for creating customer engagement. Moreover, 58% of marketers judge lead nurturing campaigns and webinars to be the best marketing strategy. Event marketing statistics also indicate that case studies (40%) and videos (38%) are vital to engaging customers.
13. A staggering 80% of video marketers agree that video content helped them boost their sales.
Most B2B marketers agree that creating experiential content can be highly beneficial for the business. Online videos and Tiktoks are a more innovative way of making B2B experiential marketing, as it attracts a significant number of people to the brand. This marketing strategy is something businesses should keep in mind when dealing with event marketing.
When taking part in an event, attendees come together to better learn about the company and its products and services. So, that’s important for hosts to provide the best experience for their potential customers.
Attendance satisfaction is crucial to define whether an event was successful or not — here are the most remarkable event statistics about attendance.
14. A whopping 98% of people are more likely to purchase a product after attending the event.
If you saw a product promoted at an event, you probably purchased it right after. There are so many reasons why people are more likely to buy after a person-to-person interaction. Event industry statistics for 2020 state that consumers can fully explore the product, while that wouldn’t be possible in front of a computer screen or television. Moreover, marketers can respond immediately to the customers’ queries and accomplish their wants and needs on the spot.
15. US companies attend around 14.5 national events per year.
The Statista survey was focused on consumers’ attendance in national, regional, and international trade shows. Trade show statistics prove that industry professionals engaged in 7.8 regional shows, 5.9 national events, and 1.7 international ones in 2020. As for early 2021, the attendance was slightly better compared to the previous year.
16. 92% of people attend trade shows to find new products.
According to trade show attendance statistics, only 13% оf соmраnіеѕ promote their рrоduсtѕ and services at events. This indicates that businesses should put more effort into featuring their goods, as most consumers attend trade shows to look for new products. That doesn’t mean they will buy on the spot, but this marketing strategy can help you generate new leads.
Now that you have a better understanding of the event planning industry, event marketing in B2B companies, and event attendance, we will cover additional event marketing stats and facts about this type of marketing.
17. Only 24% of marketers transfer the entire in-person event experience online during the COVID-19 situation.
The lockdown enforced by the government made many professionals host their events on online platforms. However, virtual event statistics prove that one of the marketers’ top challenges includes moving a whole in-person event conference on a virtual channel. Only a small percentage agrees that it’s the best decision during these troubling times.
18. On average, the estimated cost for an event venue ranges from $950 to $1,250 per hour.
The average cost of hosting a conference depends on many factors, such as the venue choice, food and beverages, and hotel accommodation. The venue expenses are the most important budget items when planning an event. The pricing varies from service to service and vendor to vendor. Factors such as location, type, size, and inclusions of the venue also affect the price.
19. In 2020, the music industry hardly sold 13.4 million concert tickets worldwide.
Concert ticket sales statistics report that the COVID-19 pandemic had negatively impacted the music industry. Compared to the previous year, the figure showed 57.7 million sold music tour tickets. As it happened to be above 50 million since 2011, we can say that this sector has reached its lowest point.
20. Global online event ticketing market is expected to reach $61.7 billion by 2027.
Event ticketing market size will grow at a CAGR of 3.3% during the 2020–2027 decade. Sport and movies are among the industries that felt the economic crisis induced by the global pandemic the most. Still, the numbers will most likely recover to a 3.4% CAGR for the next seven years.
21. According to conference industry statistics, meetings constitute $325 billion of direct spending.
If you consider the expenses for planning, production, and travel, meetings and events, the US led in business events direct spending. In 2017, meeting industry trends show that North America accounted for 35.6% of the global direct business event spending, which amounts to $381 billion in total.
22. A whopping 92% of event marketers rely on event software and mobile apps to accomplish their business goals.
According to mobile marketing statistics for an event, the use of the Internet and mobile has widely influenced businesses, event marketing, and our everyday lives in general. Since mobile has surpassed desktop usage, marketers are continually looking for new ways to reach potential customers on mobile devices.
As these event marketing statistics demonstrate, consumers seem to abandon traditional methods to the new experiential marketing trend. Experiential marketing is focused on creating a more interactive experience, so that consumers find it easier to associate with the brand.
The strike of the global pandemic put the event industry on its knees, causing a lot of trade shows, conferences, and festivals to cancel or postpone. This is one of the most affected industries globally, with huge revenue losses. However, despite the ban on large gatherings, businesses have found a new way of bringing people together — with the help of technology, most of them have moved their events totally online.
We hope that these fascinating statistics helped you better understand this type of marketing.
Many event planners believe that hosting face-to-face events is the most effective marketing strategy, even more than email marketing and social networking.
Suppose you are an event planner. In that case, you know that events just don’t sell themselves — it takes a lot of hard work, early organization, and advertisement to accomplish a successful event. Early discounts for tickets, blogging, promoting it on social media, partner outreach, and emails are among the most effective strategies to achieve success.
Successful event marketing highly depends on carefully planned strategies. Although the whole process might seem overwhelming at first, following the right steps will make it easier. But if you’re still uncertain how to start marketing an event, we made our own research on the most effective marketing tips.
To create a great marketing event, it would be best if you consider your goals first. Then, think about creating an effective event page and pre-event emails. You should also consider the use of technology, send a news release to the media, and use all social media channels.
In the US, about 1.8 million events occur annually — 270,000 are conventions and conferences, 66,000 are incentive meetings, and 11,000 are trade shows. Moreover, about 1.3 million consists of corporate meetings, and the remaining 178,000 include festivals and other events. In total, these events attract a staggering 205 million participants every year.
In 2019, the events industry size had a value of $1,135.4 billion. Allied Market Research’s report shows that this figure will increase to $1,552.9 billion by 2028, registering a CAGR of 11.2%. The numbers drastically dropped in 2020 due to the strict lockdown measures caused by the spread of the COVID-19; however, the event industry is expected to recover by the end of this decade.
It would help if you started planning at least 90–180 days in advance. It’s essential to thoroughly start building your advertising plan and event marketing campaign before the event’s announcement.
It’s highly recommended not to announce your event way before releasing additional information about it. However, don’t wait too long to spread your advertising if you don’t want people to forget your event.
To promote your event, you can use Facebook, Twitter, LinkedIn, email, or even your website, based on what works best for your business. It’s not necessary to use as many channels as possible — adopting only one of them can be enough to deliver your message. Keep in mind that when it comes to event promotion, quality is more valuable than quantity.
According to event marketing statistics, event planners make, on average, $16.07 per hour, or $33,000 per year. This figure depends on the clientele, the type of event, the hours worked, and the state. In the US, event planners in California earn around $20.83 per hour. As for other states, they receive $18.50 in the District of Columbia, $17.85 in Massachusetts, and $17.50 in New Jersey.