Industry experts have spoken and we’re here to give you a sneak peek at what trends to expect to ensure successful events in the new year.
As we recover from the global pandemic that caused an immediate halt to the events industry, we have discovered and adapted to alternative learning methods that have opened new doors of opportunity and growth.
With this newfound hope on the horizon, we will continue to see rapid advancements that would have otherwise taken years to reach without the destruction of Covid-19.
Take a look at the projected shifts in the events industry as we buckle in for a year of resilience and growth.
Eco-Friendly Events
As we work towards minimizing our carbon footprint for a more sustainable future, it comes as no surprise that environmentally conscious events are on the rise even more so than previous years.
In 2023 we will not only see many events encouraging reusable solutions but many suppliers will only offer sustainable products going forward. Event badges are a prime example of a new outlook on sustainability. Previously, planners may have opted for the hard plastic stock as it was more appealing. Now, planners look to decrease their carbon footprint and waste post-show by seeking options for economically friendly attendee badges.
While we hope to see other businesses follow suit, we recognize the topic of sustainability may come as a learning curve and it is our civic duty to educate and guide others in their efforts.
The IBM Institute for Business Value conducted a survey in February of 2022 that 16,000 global consumers found that 51% of respondents say environmental sustainability is more important to them today than it was the prior year.
Virtual-Only is Out
The popularity of virtual events flooded the market during the rise of Covid-19 but with regulations lifting, event professionals are thriving on the inclusivity and accessibility that hybrid events offer.
The hybrid event model incorporates elements from both in-person and virtual events to help strengthen engagement across the board.
A study conducted by Airmeet states just one-third of virtual events are engaging. Further confirming the need for value, intimacy, and quality.
Industry experts suggest that any events going forward offer a hybrid model for many reasons besides just ease of access. With a financial crisis underway and inflation rising, the new generation of event planners are pushing the hybrid model forward in hopes of minimizing expenses that in-person events require.
Shifting from Content Driven to Experience Focused
The appetite for experiential events has only grown and we’re no longer satisfied by content-focused events that don’t deliver a memorable and personalized experience.
Decide what content is ‘worth it.’ We’ve all experienced an event that has put us to sleep a time or two. What do experiential events look like? Attendees want to look back at your event and be able to recall specific moments that sparked connection or knowledge. Whether it’s the minute details of a sound or smell, create a space that feels inviting and immersive.
Think of some of these ways to make it memorable:
- Interactive food and beverage stations (Health code compliant of course!)
- Signature-infused water stations
- Memory building stations such as 360-degree photo booths, GIF stations
- Location Inspired kick-offs
Long Term cognitive effects on attendees from a wow experience will develop stronger retention for return attendees, so the extra spend and effort is always worth it!
Strengthening Cybersecurity
As technology continues to advance, the dire need of quality privacy and data protection increases. As we enter 2023, event professionals are gearing up with cybersecurity to stay well-protected but also remain within budget guidelines.
According to Cybersecurity Ventures, the world is expected to take a hit of $8 trillion USD in global cybercrime damage costs for 2023. To add to the growing list of things planners need to account for, be sure to check your vendors for ample security guidelines.
- Do your event websites provide fail-safe methods to protect attendee data?
- How secure are their servers?
- Am I sacrificing security for the gain in design or ease of production?
Don’t let your organization fall victim to a successful data breach. We will see an increasing number of businesses providing education services and training about the threat posed from cybercrime.
Technology will Continue to Advance Drastically
It’s no secret technology is developing at a lightning speed. The virtual and hybrid model allows us to experiment and break barriers like never before.
AR (Augmented Reality) and VR (Virtual Reality) have been testing the waters and we will soon see it enter the market in 2023, bringing new life to the events world.
The global AR/VR smart glasses market is projected to grow by $7297.59M between 2023 and 2027.
While innovative times lie ahead, we’re also incorporating solutions to simplify tech for a more user-friendly experience. People are tired of code-heavy and time-consuming systems. Expect to see more approachable event platforms with streamlined processes to ease organization and setup, as well as long-term use and functionality. eShow is a great example of an efficient and holistic event management system, compiling multiple modules and needs under one system. Once you go to an all-in-one system and ditch the API’s, you’ll never go back!
Tighter Budgets
As the cost of living increases and inflation surges, budgets will be revised with a fine-toothed comb. Moving forward, lack of financial discipline could be detrimental.
The projected cost per attendee in 2023 is forecasted to be 32% higher in comparison to 2019.
Having a strategic approach that aligns with your company’s objectives will be a crucial step of survival over the coming months. The increase in demand poses no threat, but profitability is where the question lies.
Analyze your event requirements, attendee needs and the “fluff” stuff to see where you can cut corners. A well-planned event worksheet with budget allocation is a great tool when analyzing your details.
Increase of Health and Wellness Activities
The health and wellness movement has taken the event industry by storm and we don’t expect it to leave any time soon.
The pursuit of wellness is at the forefront of many of our personal lives and it’s finally being recognized in the professional world.
This year we can expect to see planners integrating wellness practices into their programs for both team members and attendees. Flexible working, team-building exercises, and access to counseling have all skyrocketed in recent years.
Including breaks for yoga, massages, meditation or even smoothie stations has shown to increase the satisfaction of attendees, and decrease the likelihood of being completely drained.
What 2023 Event Trends will you be Implementing?
We believe these trends will dominate the market over the next year and we want to give you a head start. Stay ahead of the competition and capitalize on these trends- they won’t stand still for long.
Start the new year off strong with eShow. We offer a full suite of options for live, virtual, and hybrid events. Our team of experts will help you curate the perfect package for your needs. Contact us today to request a demo and learn more about how we can help take your event planning to a whole new level.