In today’s corporate world, where budgets are increasingly stretched and scrutinised, the question “Why invest in a live event?” is often asked. The answer lies in the undeniable power of in-person events. With a proven track record of success, event marketing budgets are on the rise as companies increasingly recognise their value.
The Power of In-Person Events
Connectivity
The adage “people buy from people” holds true across all strategies and objectives. Whether launching a new product, revealing a brand strategy, or uniting a team, the power of face-to-face engagement is unparalleled. Capturing and maintaining attention online can be challenging due to the ease of disconnection, both physically and metaphorically. In-person meetings, however, benefit from the power of macro-interactions and non-verbal communications, making a significant difference.
As highlighted by Conference & Meetings World (July 2024):
“The events industry is an economic powerhouse: trade shows and exhibitions are ready-made marketplaces that grow business, conferences keep us informed and connected, meetings help us form plans, association congresses are where our global experts learn from each other and improve our lives in medicine, science, technology, and just about anything else.”
For both B2C and B2B businesses, relationship building is at the heart of in-person events. Human connection enhances brand storytelling, driving genuine engagement and emotional investment from the audience.
Collaboration
Knowledge sharing, collaboration, and participation thrive in person-to-person settings. Working towards shared goals, driving engaging energy, and facilitating easy communication are best-achieved face-to-face.
Building trust is core to this process, whether with internal teams, clients, or suppliers. The power of human connection is why there has been an increase in marketing spend for in-person events in 2024.
According to a recent Bellwether Report published by the Institute of Practitioners in Advertising (IPA), event budgets increased by +23.1% in Q1 2024. This marks the ninth successive quarter of growth and the strongest period in eleven years of tracking event marketing spend.
Conference & Meetings World further elaborates –
“The quarterly study, which analyses marketers’ confidence and budget choices, found that the category of ‘events’ saw budget expansion in Q1 2024 of +23.1% from a previous +15.9% in Q4 2023, as companies continue to show a strong appetite for face-to-face engagement with customers.”
Driving Long-Lasting Success
Attendees at in-person events are not just spectators but active participants invested in a unifying message and a deeper understanding of the event’s purpose. This approach is particularly effective for internal teams, where sharing and collaborating on a shared vision and values can drive significant results and rewards.
In conclusion, the investment in live events is justified by their unparalleled ability to connect, collaborate, and build lasting relationships, driving meaningful engagement and long-term success.
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