Event marketers agree (97%) — going forward, the most rewarding events will have a virtual component
Bizzabo, the world’s leading Event Success Platform, released its Evolution of Events Report. The company analyzed responses from nearly 400 event marketing professionals in mid-senior level positions. The analysis uncovered valuable insights, including how virtual events are impacting audience reach, the future of hybrid events, budget increases in the coming year, and more.
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“As we all know, COVID-19 hit the events industry with unprecedented force,” said Alon Alroy, Co-Founder, CMO and CCO of Bizzabo. “To get a sense of how the industry is evolving as a result, we surveyed event marketers from some of the world’s largest brands. Our analysis revealed that the category has been forever changed. And, moving forward, the most successful events will be those that are hybrid – events that meaningfully integrate in-person and virtual experiences.”
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Key findings include:
- Responding to COVID-19, virtual has become the go-to channel for event marketers. More than 80% report greater audience reach as a positive effect from the shift to virtual. “Digital experiences eliminate the need for travel, venue capacities and other costs that might ordinarily prevent some guests from attending an event, in-person. By taking away such obstacles, there’s a substantial increase in audience reach,” added Alroy.
- Looking to 2021, event marketers are optimistic. In fact, about 20% report that they even plan to increase their event marketing budget for the coming year. “Most event marketers we spoke to have already begun to plan their events for 2021. And, many reported that their strategy will be supported by virtual engagement,” added Alroy.
- 97% of event marketers report that Hybrid events will become more prominent going forward. However, 61% have yet to partner with a production company to help execute the virtual aspects of those events. “Event technology is evolving along with the industry, giving more opportunities for companies to accelerate business, mitigate hurdles around efficiency, and helping to unleash the full potential of those Hybrid experiences. Based on our findings, those who don’t become fluent in virtual event technology will likely get left behind in 2021,” concluded Alroy.
Since launching in 2012, Bizzabo has enabled thousands of events globally to run seamlessly with a growing number of enterprise and mid-market organizations, including Forbes, Dow Jones, Bloomberg, HubSpot’s INBOUND, Salesforce, Teach for America, Siemens, and many more.
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