Like so many other things, in-person business events took a near-fatal blow during the pandemic, and in the resulting virtual era, many wondered if they would ever return at all, not to mention return to its glory days of being a significant business-generating strategy and networking opportunity. But according to new research from events industry firm Freeman, physical events are now back and attendees have officially returned.
The firm’s latest report, Exhibitor/Sponsor Intent and Behavior Q2 2023, finds that events are now reaching 103 percent of verified attendance when compared to pre-pandemic levels, and nearly 80 percent of exhibitors plan to exhibit at the same number of events or more over the next 12 months.
But while the growth and momentum is exciting, the research identifies a widening satisfaction gap for exhibitors who believe they are 20 percent less likely to be able to meet their event objectives vs. pre-pandemic levels.
“Understanding the key findings of the data, and making even incremental improvements can significantly shrink the gap,” said Ken Holsinger, Freeman’s senior vice president of strategy, in a news release.
Key findings indicating where organizers and exhibitors can focus to drive greater confidence in achieving event goals include:
GAP: Budgets match pre-covid allocations but are not aligned to today’s attendee needs.
Spending on important factors like social media or exhibit design have not grown, which could mean missed opportunities. For example, social media is an efficient way to create additional touchpoints beyond the event.
GAP: 9 out of 10 exhibitors plan to use the same amount of space or more compared to 2019 but should plan on activating that space in new ways
Exhibitors need to offer unique experiences for the next generation of attendees.
GAP: 58 percent are positive towards exhibiting and sponsoring at in-person events
The most frequently mentioned word by far is “excited,” but the secondary sentiments are “expensive,” and “necessary,” followed by a close call between “positive” and “exhausting.”
“To overcome this divide, exhibitors and sponsors need to reframe their return on investment (ROI) into a return on objective (ROO). And adding innovative and integrated digital approaches will help meet this audience needs” said Holsinger.
