2018 has already given us a lot to look forward to. With events like CES 2018 getting the year into gear, the beginning of the year has already given us a preview of some of the most defining trends we’ve seen in the recent past. In our previous blog, we looked at some of the most defining event marketing statistics the event industry had on display over the last year. Looking forward, we take you through seven more stats that are sure to put 2018 into perspective.
Trade Shows and events rank #2 on the most important components of the ideal channel-mix (Forrester)
Surprisingly, in-person events and trade shows ranked higher than social media and traditional marketing channels in 2017, falling a close second to the website. This is undoubtedly due to the fact that they offer marketers exclusive access to a class of specifically targeted and segmented audiences.
Additionally, events rank higher on the scale of quality of the customer touch-point in comparison to traditional marketing channels. And so, a staggering 87% of chief executives feel that live events are the way forward (Bizzabo). This, in turn, is an indication of the immense potential of business events in terms of their ability to generate new business, maximize sales, and boost top-line.
92% of attendees use events to experience new products (Exponents)
One of the biggest reasons that organizations exhibit at events and trade shows is that they offer an unparalleled level of brand exposure. And this is due to the fact that a majority of attendees feel that events provide them the perfect gateway to experiencing new products and exploring solutions to problems that they may not even be aware of. Place that in tandem with the fact that close to 81% of these attendees have buying authority (CEIR), and it is easily understood why events and trade shows are the most powerful marketing channels moving forward.
54% of event professionals attend events to keep up with the latest trends (Bizzabo)
Events and technology are evolving at an unfathomable rate. The passing of every year sees newer technologies permeating everyday lives. This is why keeping up with trends and technology has become a defining reason as to why event professionals flock to events at an increasing rate every year. An example of this would be blockchain technology and its rise to fame in the latter half of 2017. Months after coming into the spotlight, blockchain technology is still making waves and is trying to find its way into other industries.
64% of event attendees feel that customizing their schedules could greatly help them (Marketing Charts)
Event attendees consider their schedules sacrosanct. For them, time is a very scarce resource and their schedules are, for the most part, packed to the brim. They seldom have enough time to spare between attending keynotes, visiting the exhibitor’s floor and sitting through countless meetings. This is precisely the reason why they feel the need to manage their time more carefully and engage in meaningful interactions with people that matter.
86% of attendees feel that technology plays a crucial role in drastically improving event experiences (Endless Events)
Attendees find it extremely interesting and enjoyable to engage with brands through technology. The event tech industry is valued an approximate $7.5 billion (Bizzabo). Technologies such as AR and VR have taken a step up and have definitely shaped the way attendees experience and remember products. Another study by Enterprise Event Marketing states that event technology additionally boosts attendance by 20%, productivity by 27% and cuts costs by 20-30%. This has made incorporating technological solutions more of a necessity than a luxury in today’s state of affairs. In addition to this, adopting technology simplifies and converges multiple aspects of event management, giving organizers and planners a huge incentive to utilize and harness their powers.
One-fifth of planned meetings across Europe and North America are from trade shows (American Express)
Meetings are a massive part of events and trade shows. As mentioned earlier, event and trade shows give marketers the opportunity to interact with a highly targeted, impressionable, and sales-ready audience. Leveraging and establishing the value of these interactions has become the primary focus of every event planner. But with events becoming increasingly complex over the years, scheduling, managing, and analyzing the value of these meetings has become a cumbersome task. This brings us to …
Organizations that use event technology are able to substantiate Event ROI 26% more than those companies that do not. (Bizzabo)
Event ROI has become central to any discussion regarding event budgets and investments. Measuring it can be a massive task because of the many ways organizers choose to do so. In other words, organizers have used different ways to measure event ROI in the past. Some used engagements metrics and others used the number of badge scans they were able to collect at the event. But soon they realized that this was insufficient. With the permeation of technology, organizations started using event management apps to manage activities and assess the value of meetings and customer interactions as opposed to vanity metrics. And in tandem with these numbers, event planners were able to calculate the return on investments more accurately and present them to higher management.
Events are a hive of information. Being able to track and analyze every aspect of every interaction that takes place at events has become extremely crucial. If you liked this article, you would not want to miss out on our eBook on ‘Simplifying Booth Traffic for an Enriching Event Experience’ Check it out by clicking on the button below.