In a survey of marketing professionals, 81% said that the right tools would make it easier for them to host events.
According to Splash, an event marketing technology business that supports enterprise corporations and their event, marketing, and sales teams globally, some major issues facing event practitioners in 2023 are economic headwinds, shifting B2B buying trends, and a need for more resources.
Despite 85% of event marketers reporting an increase in their budgets for 2023, the survey of 670 event marketers and professionals in North America, Europe, and the UK, conducted in late 2022, found that they still feel constrained by their lack of resources, both human and financial, and the need for technology that better supports their roles and helps them to improve efficiencies.
Due to these limitations, an increasingly digitized and complicated customer experience, and the requirement to demonstrate how events affect the bottom line, more event marketers are experimenting with various event forms. At least one-third of marketers refocus their strategies around these less frequent, more scalable events over flagship events like conferences and tradeshows. An everyday event is an event created to be replicated multiple times across regions, verticals, formats (virtual/hybrid/in-person), and stakeholders.
Event marketers utilize the standard everyday event format to cut through the noise of crowded and anonymous experiences and reach their consumers more regularly to maximize costs and accomplish more with less.
According to Kate Hammitt, CMO of Splash, “the past three years have demonstrated that event professionals are a resilient group, remaining flexible and experimenting with various options to create income through events.” “Our most recent data shows that event marketers are modifying their tactics again to forge stronger connections with attendees and boost ROI. Additionally, there is growing evidence that regular occurrences at a large scale have a year-round, considerable financial influence on a company’s sales pipeline,” he added.
Events and experiential marketing initiatives are essential to a company’s marketing strategy. However, due to scarce resources, laborious manual processes, and complex technological solutions, the successful implementation of events, particularly large-scale events, can take time and effort. Creating, managing, measuring, and replicating events must be simpler for marketers to maintain brand consistency and engage target audiences.
According to the 2023 Events Outlook Study, 81% of event professionals would host more events if they had the necessary resources. Other study results demonstrate that:
The following are examples of everyday events that prove their value: The majority of event marketers (27%) intend to host 11–20 of these event types.
Potential for untapped revenues: There is a substantial possibility to develop event programming to attract new customers because the bulk of events (84%) target existing customers. Less than half (41%) of events focus on potential buyers, demonstrating a promising future!
The paradox of virtual events persists: Although only 6% of event marketers currently host solely virtual events, 38% claim they are cost-effective. Therefore, virtual events are still a contradiction.
Event Tech Investment: With half (53%) of event marketers reporting that their tech budgets were the same from 2021, investment in event technology remained virtually steady.
The event combination is transforming: Large “flagship” events still exist, but just 13% of marketers say they will focus on them in 2023, signaling a change in the event mix. Instead, many advertisers focus on commonplace occasions to connect with their target demographic at various touch points throughout the year.
Metrics matter, and having the proper guests is one of them. 32% of marketers estimate that in 2023, up 6% from 2022, this will be their most crucial indicator for gauging success.
In 2023, event technology will continue to play a significant role in marketing plans, with 81% of event marketers searching for tools to help them maximize the potential of their events and boost income. With the availability of adaptable technologies that allow them to scale up or down following constantly shifting business goals, event professionals can experiment and learn today. By experimenting with various event formats, organizers can learn what best engages audiences and deepens their relationship while fostering fresh growth prospects.
