Venues and event planners must be abreast of emerging industry trends to create successful events. Many elements affect event management trends, from keeping tabs on shifting customer expectations and industry best practice standards to staying abreast of technological developments. Venues and event planners have a lot on their plates, juggling several reservations and planning for the future.
How come the events sector is evolving so rapidly?
Information and hobbies change faster than ever before. As new terms and ideas emerge, like "the fear of Missing Out (FOMO) factor," the old ones quickly become archaic. An industry dependent on consumers' tastes will evolve rapidly in response to consumer demand.
Furthermore, the events sector must keep up the pace as new areas of interest, entertainment trends, and technology emerge to continue bringing people together. More and more people expect high organization, detail, and comfort from the events they attend.
Event specialists also expand their roles in other firm areas, such as sales and marketing. What was once a sideshow to entertainment and commercial promotion is now a multibillion-dollar business. This emerging sector of the economy is replete with innovations and technology.
The future of the events industry: 2024 Trends
What can you look forward to as an event planner and begin preparing for now? Here are some event trends to consider as you plan for these shifts and innovations.
Sustainable event planning methods
More and more event spaces and organizers throughout the globe are becoming more conscious of and working to mitigate the negative effects of their activities on the environment. To this end, many are adopting eco-friendly practices like cutting down on paper usage and single-use plastics, hosting events virtually or through a combination of the two, encouraging guests to eat less meat and more plants, and offering carbon offset packages to make up for the pollution caused by events.
Virtual and augmented reality
Virtual and augmented reality are becoming more widespread in industry events as businesses look for novel methods to boost audience participation. Over the next two years, the augmented and virtual reality market is expected to expand by over 25%, with AR serving as the market leader.
Although virtual reality has seen some application in the events business over the last several years, augmented reality is now all the rage. Virtual reality (VR) may be a great event tool, especially regarding virtual tours and gamification. In contrast to virtual reality, augmented reality modifies your view of the actual world by adding computer-generated sensory input, such as audio and video, to the existing surroundings. Through AR, it is possible to generate interactive maps of the venue, better product demos, and new ways for attendees to connect and participate in the event.
Digital signage is changing the face of events. Event organizers may now use dynamic, attention-grabbing information presentation methods, such as huge LED installations and scrolling advertisements, instead of the static, set content of posters, billboards, and signage. Attending an expo or conference may be a very different experience when information can be updated in real-time and material is presented in ways that engage the audience.
Likewise, with event wayfinding signage, you can guide guests to the many spots they need to be at your event using interactive digital signage. Planning beforehand is essential for navigating large and intricate settings. The same holds for letting visitors know which courses are currently held in each region.
With digital signage, you can communicate with your audience in whole new ways, revolutionizing your displays and branding. You can use the event's WiFi to put up social media feeds like those seen on X (former Twitter) and Instagram. Encourage audience participation by displaying a scrolling video stream of visitor reactions to various events and displays via digital signage's social media wall. Displaying delegates' photos and reviews on large screens throughout the hall uses the buzz-generating potential of user-generated content to boost attendance and participation.
Enhancing the live event experience
Using social media to advertise an event
As social media's importance in consumers' daily lives grows, it does the same for those planning events. 64% of respondents to an Eventbrite study indicated they would choose which events to attend based on information they saw online. As a result, an event marketing strategy using social media is a growing trend in the events business.
In addition, popularity and interest in an event or topic may be gauged through social media. You should form alliances with up-and-coming digital influencers and employ tech-savvy individuals to manage your social media accounts.
The incorporation of social media is a significant development in event technology. Planners need to ensure their event advertising tools are compatible with social media as more and more people rely on these channels for event research and reporting. For instance, a Twitter event can attract the attention of many people using the platform.
Profit management in the face of increasing expenses
Businesses in the events and venue industry are struggling to stay profitable due to rising expenses across the board, supply chain challenges and customers with less discretionary spending due to rising prices. Venues and event companies in 2024 will prioritize efficiency and revenue above frills, like providing mediocre service to customers.
The application of AI to event planning and evaluation
Artificial intelligence is another promising new tool that will become more used in corporate events in 2024. You can use AI at every stage of the event planning process, from initial brainstorming to final evaluation. AI-powered chatbots may be used for pre-event marketing and customer support to streamline processes like ticket sales, lead follow-up, and FAQ answers. Facial recognition is another powerful AI application that may be utilized at events, ranging from security and registration simplification to attendee customization.
Changes in consumer expectations and event technology
Event and site management teams are looking to digital and self-service alternatives to better serve customers and adapt to shifting buyer expectations. In 2024, many event spaces will implement new event technologies, including online reservation platforms, e-ticket solutions, digital signage, "in-app" mobile transactions, and contactless payments, continuing a trend that began in 2018.
Technology for events is expected to grow in popularity far beyond 2024. Events that are adaptable, prioritize safety, and place purpose at the forefront will likely become the standard, whether they take place online, in person, or a hybrid format.