It’s always helpful to look backward before moving forward. Splash, an events marketing platform, published 2023 Event Outlook Report. Coming out of the pandemic and into a reboot of events they found that nearly 50% of event marketers said that in-person events yielded the highest ROI. Actually a whopping 10X more ROI than virtual events. But were they looking far enough ahead or just hoping the old horse and buggy would stay on track?

While live events have certainly made a welcome comeback, virtual events have proven their worth by retaining and engaging conference goers between events, offering everything from training to product launches (think Apple’s Sept 12th Scary Fast Launch) and workshops connecting global citizens, to name a few.

But there’s another side of the coin. Most event marketers are desperately seeking new blood. Physical events tend to reach the same ole crowd who enjoy the same old reunions. And despite the fact that many of those surveyed liked the higher ROI of in-person events, 41% thought that virtual events cast a wider net, and were more cost-effective.

Bottom Line: Don’t give up your in-person event life, but continue to improve to draw new audiences. Virtual events are well worth the effort when your goal is to bring new blood into the pipeline and there are many ways to cultivate that blood.

We’re also sensing a little tension between how marketing dollars will be deployed this year. Regardless of whose numbers you take as gospel, the shiny-shiny of the moment is the creator/influencer market. One study values it as a $21.1 billion market with a 28.7% annual increase from 2022. Many brands are now leveraging influencers because they impact consumer purchases. Creators and influences build brand awareness that extends beyond a company’s traditional following. 

Statista has a nice chart showing the growth of influencer marketing spending. Their number is nowhere near the $21 billion mark, but it shows a consistent trajectory.  Some of this sort of influence marketing was once done by celebrities, but celebrity endorsements seem to have fallen out of fashion. Will the same oversaturation plague the “person-next-door” creator?

In-person events, on the other hand, are tops for creating in-depth and personal connections, and for creating the atmosphere for bi-directional conversations. As the previous article tells us, in-person events are having a renaissance and generating solid ROI.

Bottom Line: Should you spend your dollars on influence campaigns or in-person events? The answer is yes. They don’t need to be mutually exclusive. Creators can be an event producer's best friend. Use them to engage your audience and add to buzz.

Heard on the Street

I hopped onto Bizzabo’s Events Industry Trends Report for 2024 webinar and a few things the speakers touched on stood out: 

• The big emphasis was on conscious conferencing, which is the art of making everyone feel special, heard and included. Tough order.
• Adam Parry, Event Tech Live Las Vegas, discussed Greenhushing and Greenwashing. We all have heard of Greenwashing, which is when you pretend to be running a green, sustainable event. Greenhushing is when you don’t toot your horn loud enough about all the progress you’ve made. Don’t hush. 
• Greg Deshields, one of the foremost experts in DEI, reminded the audience that DEI (Diversity, Equity and Inclusion) is good business, not just a checkbox.
• Lauren Olerich, Sr. Director of Events at Gainsight, advised the audience to air the program agenda out a bit. Like a good wine, an event needs room to breathe. Ample and creative networking must be part of the agenda.

In other research, separate from the Bizzabo webinar, Freeman shared research that showed that 71% of younger generations trust brands more after interacting with them at events.

Jumping Into the Metaverse

Last week I had the privilege of speaking at the Metaverse Business Spectrum. My topic was the future of events in the metaverse.

The metaverse event platform was created by Xcyte Digital and allowed attendees to create their avatars, visit auditoriums and the exhibit hall, and really hear and feel the immersive environment (no headsets required). You can hear our panel (which was pre-taped) and then shown to a metaverse-immersed audience.