Stay Ahead of the Curve: The Latest Trends in Events
Staying Ahead of the Curve: The Latest Trends in Business Events
Want to know what's on the horizon for business events? We’ve got you covered. We are always on the lookout for the latest trends in the ever-evolving event industry. That's why we've dug deep into renowned event forum Skift’s latest report, “The State of Business Events”, to bring you useful insights on virtual, hybrid, and in-person events. Through survey data gathered across the US, UK, Europe, LATAM, and APAC from corporate and association planners, the report delves into the dynamics of event participation, observing that while the return to in-person events is going strong, there is a substantial increase in virtual and hybrid events, which have preserved their popularity in the wake of the pandemic.
Let’s have a look at some key findings:
The digital wave:
With rising costs, tighter travel budgets, and a growing focus on accessibility and sustainability, organizations are making sure they've got plenty of digital options available as part of their overall event mix. Digital events have been surging like a wave, and 64% of respondents had a virtual component to their major events.
Delving up your content-gold:
Virtual content adds value in its versatility - after the production, it can be used for podcast episodes, recaps, year round publication of talks and more. “The broad reach and relative low cost of virtual means that more attendees can meet more frequently. By leveraging content and contacts from in-person events, audiences can remain connected in a year-round engagement program — on their terms and all under your brand. This community then becomes a great feeder for your in-person experiences or other marketing offers.” says Mike Dietrich, VP of Product Marketing at Cvent.
Divergence in in-person events:
In terms of involving digital components, a division has emerged in the return to in-person events. Nolan Ether, Senior Content Marketing Leader at Webex, characterizes this split as two flavors: One flavor is major flagship events, such as large conferences or trade shows, from which attendees have come to expect virtual/hybrid elements. Excluding large groups that may not be able to attend physically provides an unnecessary cap to your event’s reach. The other flavor is much smaller in-person events, which might not require virtual elements.
One size doesn't fit all:
You need to customize your event to effectively reach your target group and overcome possible challenges. The biggest challenges for in-person events are shorter lead times, decreasing budgets/rising costs, and travel costs and arrangements. Meanwhile, for virtual events, the main concerns are engagement and attendance, and for hybrid events the challenges are added costs and creating the optimal experience for both the online & offline audiences.
The sustainability conundrum:
Despite raised concerns and reported actions, sustainability is not a priority for planners when they select venues or destinations in 2022. While 58% of respondents said sustainability plays a more important role in their job compared to before, when ranking their event teams’ main concerns, they placed sustainability in last place.
With these trends in mind, we can create a hybrid or digital event that is tailor-made for your unique needs and goals. Whether you're seeking to boost your audience engagement or find a more sustainable alternative, our team is equipped with the expertise and resources needed to help you succeed.