2020 didn’t shape up to be the year that experiential marketers expected. The fallout from the pandemic deeply wounded the booming industry, and for those who live and breathe events, the year presented the most significant roadblock they’ve ever faced. But event professionals worldwide have rolled up their sleeves, fervently working to evolve and adapt, and are ultimately paving the way to a brighter 2021.
While it’s too early to tell what the year will hold, there are some promising statistics floating around regarding the future of experiential marketing.
The Future of Experiential Marketing: 11 Promising Statistics You Need to Know
- Experiential marketing is projected to rebound in 2021 with 6.1% growth worldwide. (PQ Media)
- 64% of B2B marketers expect to increase their 2021 event marketing budgets compared to 2020. (Exhibitor Online)
- 62.7% of event marketers plan to resume in-person events in 2021. (Bizzabo)
- 83% of people believe experiences are a fundamental piece of who we are as a global culture. (AW360)
- 80% of consumers are more likely to do business with a company if it offers a personalized experience. (EPSILON)
- 78% of Americans say they will attend as many or more live events when the threat of COVID-19 passes and it is safe to do so. (Event Marketer)
- 60% of event professionals reported pivoting to a virtual event in 2020 due to the impact of COVID-19. (Bizzabo)
- However, 52% of event planners stated their biggest frustration with virtual events is the inability to match live engagement (EventMB), and 53% of event marketers believe it is more challenging to create unique and memorable experiences for attendees through virtual events in comparison to in-person events. (Bizzabo)
- Because of the ability to reach a wider audience, 66.5% of event organizers say that moving forward, hybrid events will be their format of choice (EventMB), and 86% of people are interested in attending a blended experience. (Momentum Worldwide)
If we’ve learned anything from 2020, it’s that people crave interaction and experiences, and people need people. Hence, the experiential marketing and live events industry will come back bigger and better than ever before.