When you typically see industry statistics, you might assume they represent generalizations about the events industry. And you might not feel inspired to do much differently because of them. However, these seven events industry stats WILL make you double-take a little. They’re likely to inspire you to make some changes and form some strategies to help you grow and succeed as an event planner, too.
1. The events industry will grow to $1,552.9 billion by 2028.
Source: Allied Market Research
Don’t let the past lockdowns and gloom deter you from growing your event planning business. Consumers and brands alike are all flocking back to in-person events in a big way, paving the way for opportunities for event professionals in the coming years.
2. 95% of exhibitors prefer 'in-person' to 'virtual' events.
Whether you’re looking to be an exhibitor to showcase your own event planning business or you’re curating an event with exhibitor opportunities, know that exhibitors see value with in-person booths.
3. The US party planning market is valued at $3.2 billion.
Source: Ibis World
This statistic solidifies the fact that there is A LOT of business to be gained in the events industry. There’s enough revenue and plenty of growth opportunities for event professionals, party planners, and coordinators to be successful. Now, how will you get your piece of the pie?
4. 70% of businesses generated new leads & brand awareness from trade shows in 2022.
Proof in the “trade show” pudding with this stat, proving that you can generate leads and boost your event business at trade shows and conferences. Have you gotten your tickets to The Event Planner Expo 2023 yet?
5. 81% оf trаdе ѕhоw attendees hаvе buуіng аuthоrіtу.
Sоurсе: CEIR: Thе Sреnd Dесіѕіоn: Anаlуzіng Hоw Exhіbіtѕ Fіt Into the Ovеrаll Marketing
You know who else attends trade shows and conferences? Decision-making clients, brands, and buyers are heading to these events in droves. And this stat endorses the value a great-fit conference can be for your business.
6. It takes roughly 4.5 sales calls to close a sale without an exhibit lead and just 3.5 calls to close a lead from a trade show or conference exhibition.
Source: CEIR: ‘The Cost-effectiveness of Exhibition Participation: Part II'
Imagine cold-calling 30 people. Then imagine meeting those 30 people at your booth during a trade show first, then calling on them. Start transforming cold prospects into warm leads and close more deals with conference participation.
7. 98% of event organizers are planning to host at least one in-person event in 2023, while 85% plan to host at least three, and 35% plan to host at least 10.
Source: Bizzabo, 2022
Corporate events, product launches, team-building events, and brand conferences are coming together in bigger and bigger numbers. Event planners have an opportunity to jump in and aid in this boosted events activity. It’s your chance to capitalize on this growing in-person event trend.
What will you do with this events industry knowledge? Get inspired to adapt and take advantage of new opportunities for your business! These are all great indicators that the industry is strong. And it’s also a good reminder to get out there and start networking. Tickets for The Event Planner Expo 2023 are available NOW!