EVENT MARKETING TRENDS ROUNDUP

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Before the coronavirus pandemic, in-person events were a pivotal touchpoint for B2B marketers to drive demand, secure active deals, and build stronger connections with prospects and customers. Now successful marketers have greenlit virtual events and are reconsidering how their in-person strategies will change once business gatherings are permitted again. eMarketer has curated this Roundup of data and insights to understand the key trends in event marketing today.

December 2020

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TABLE OF CONTENTS

3 Sponsor Message

4 Overview

7 Digital B2B Advertising Thrives amid the Pandemic as Traditional B2B Spend Plummets

8 Virtual Events May Be the Norm Post-Pandemic

9 Leveraging Technology to Gain Insight from Virtual Events

11 What Virtual Selling Mistakes Are Buyers Seeing?

12 Experiential Marketing in the Age of COVID-19

14 About This Roundup

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SPONSOR MESSAGE

This past year has changed the way we look at events. From the rapid shift from in-person to virtual as the pandemic took hold, to the forward looking move to incorporate hybrid events as in-person gatherings return, the meetings and events industry has adapted swiftly. As the dust clears a bit and we look to the future, one thing is clear: virtual and hybrid events are here to stay, and, alongside traditional in-person events, will become fixtures in most go-forward marketing mixes.

These new event types create a greater opportunity to reach and engage with audiences that are larger than ever before. But, taking advantage of this opportunity requires organizations to consider their total meetings and events program strategically. Cvent is the technology partner to help you simplify and modernize your total event strategy, including the events you host and the ones you attend, whether they are virtual, hybrid, or in-person.

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OVERVIEW

Before the pandemic, in-person events were a pivotal touchpoint for B2B marketers to drive demand, secure active deals, and build stronger connections with prospects and customers. These events took on many forms: Some B2Bs hosted events to launch new products and features and provide educational and thought leadership content. Other B2B companies relied on trade shows to showcase their products, while some participated in large-scale industry events to meet with partners and prospects.

The cancellation of Barcelona’s Mobile World Congress in mid-February was a leading indicator outside of Asia of what was to come. In early March, B2Bs in the West realized their event strategies and budgets would need to pivot as the coronavirus reached pandemic levels.

With many regions forced to shelter in place, B2Bs considered how they could reach their audiences without that in-person touchpoint. March 2020 research from B2B Marketing Zone found that 49% of US B2B marketers replaced some of their live events with digital ones, while 19% used digital to replace most of their events.

Demandbase had its marquee event, the ABM Innovation Summit, scheduled for March 17 in San Francisco. As other large tech companies, such as Adobe and Facebook, started to cancel their events, Demandbase quickly pivoted to digital, according to CMO Peter Isaacson. While the full breadth of the event, with celebrity sessions and happy hours, couldn’t be replicated, a live virtual keynote featured announcements and

product updates. More than 1,400 attendees watched the online session. And to continue the momentum, in lieu of in-person field events, Demandbase plans to host a virtual tour over the summer.

This kind of lift requires investment in a virtual event or webinar platform to host the content and allow attendees to join. But B2Bs that don’t have the infrastructure or budget to pivot to a big video conferencing setup can go virtual without the technical bells and whistles.

For example, Lincoln Healthcare’s entire business model focuses on hosting in-person events for a very exclusive list of qualified attendees. After exploring several webinar solutions, the company opted to create a private LinkedIn group to build a

% of respondents

US B2B Marketers Who Are Replacing Live Eventswith Digital Events due to the Coronavirus, March 2020

Replace most 19%

Replace some 49%

No plans 16%

Not sure 16%

Note: based on readers of B2B Marketing Zone, broader industry metricsmay varySource: B2B Marketing Zone, "How COVID-19 is Impacting B2B Marketing,"April 9, 2020254600 www.eMarketer.com

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virtual community for would-be attendees to connect and share ideas, according to Jennifer Stewart, director of information systems and home care marketing. Now the firm hosts a weekly conference call with preselected leaders and more than 100 attendees to build on the connection and discuss the transformation of healthcare—an industry undergoing painful changes due to the pandemic. The calls are recorded and then available on demand with an executive summary for those who couldn’t attend, Stewart said.

Other B2Bs are working to create regular programming on channels like LinkedIn Live. April Mullen, director of strategic insights at email service provider SparkPost, noted that she was planning to interview executives on the road at industry conferences this year. Now, her plan is to execute a video series by interviewing executives at home and broadcasting that on LinkedIn. Several other B2Bs are using this playbook to engage with their audience through an organic social media channel. If done correctly, this can dovetail with a B2B influencer strategy, as brands can have industry thought leaders with a large, relevant following join the broadcast to broaden reach.

For B2Bs that sponsor other industry events, the shift might look a little different. Digital commerce platform provider Avionos, for instance, was a Gold sponsor of Adobe’s Summit. Sponsoring these partner-hosted events has been the traditional way Avionos goes to market, according to Challin Meink, director of marketing. Prior to Adobe’s event, Avionos had created marketing collateral and was running Google search ads to drive in-person engagement to their booth on

the floor and book meetings. As soon as Adobe announced the event was going to be digital, Avionos quickly pivoted all its marketing plans and adjusted the messaging to virtual calls to action. “Rather than ‘Join us at our Booth,’ we switched to ‘Adobe Summit is online-only, talk to us about what you need to know,’” Meink said. “We actually showed up in 60% of all searches around Adobe Summit cancellation. We were the No. 1 ad the week of March 3, and we were in the top 50% the week of March 10 because we pivoted so quickly.” This switch in strategy allowed Avionos to still capture interest and engage buyers who were showing intent.

These virtual pivots are strong examples of B2Bs making quick adjustments to their event strategy earlier in the pandemic. Some hosts like SparkPost and programmatic platform TripleLift gave attendees gift cards to a food delivery service as a way to drive attendance to ensure a strong number of leads were still captured and to keep the “Lunch & Learn” feel.

—CONTINUED

“You can’t just copy and paste your physical event into an online one,” said Alex Altzberger, CEO of commerce platform Episerver. “Relevance really matters.”

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But it is important to note that even the best virtual experience can’t replace in-person interactions. For instance, staff augmentation platform WorkReduce also made some quick shifts in its events strategy, moving a handful of intimate executive breakfasts planned for March to a webinar-like format. “We’ve actually been able to reach more people for less money,” said CEO Brian Dolan. “But it’s not the same connection that we would make in person. We can’t engage them in the same manner and build those same connections.”

B2Bs also need to be thoughtful. “You can’t just copy and paste your physical event into an online one,” said Alex Altzberger, CEO of commerce platform Episerver. “Relevance really matters. Buyers are being bombarded with invites to webinars and different sessions so it’s important to add value and make sure your content stands out.”

Looking Ahead

Until local governments sanction large gatherings, in-person events are not possible, which makes virtual events a good stand-in for B2Bs seeking to connect with their audience. But companies should be wary of audience fatigue here. While it is important to offer virtual alternatives and be creative when rethinking event executions, it should be noted that buyers will still want to see relevant content and get value for their time. Don’t be too aggressive and inundate audiences with an influx of virtual events just for the sake of doing one.

B2Bs must also consider how their in-person events will change once business gatherings are permitted again. Early signs indicate that as a global business community, we will not go back to the “old normal.” Therefore, formulating a game plan on how in-person interactions will change for the safety and security of attendees will prepare B2Bs for when face-to-face events start up again. Making plans for social distancing and allocating budget for PPE and extra cleaning supplies will be important considerations. There might also be a place for these items to be sponsored at upcoming events.

Some research suggests that in-person events will always look a little different post-pandemic. In fact, 80% of global customers of event tech provider Aventri said they believe virtual components of in-person events will become more commonplace after the pandemic.

—CONTINUED

B2Bs must also consider how their in-person events will change once business gatherings are permitted again. Early signs indicate that as a global business community, we will not go back to the “old normal.”

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DIGITAL B2B ADVERTISING THRIVES AMID THE PANDEMIC AS TRADITIONAL B2B SPEND PLUMMETS

Though the B2B digital ad market represents a small slice of total US digital ad spending, it is thriving as the coronavirus pandemic continues to plague parts of the world and hinder the economy.

We forecast that US B2Bs will spend $8.14 billion on digital ads this year, up 22.6% from 2019 when spending was $6.64 billion. B2B digital ad spending growth in recent years has outstripped digital ad spending growth overall, with a CAGR from 2016 through 2019 of 24.7%, vs. 22.6% for all US digital advertising. We estimate that growth in B2B digital ad spending peaked in 2018 at 27.5%, falling almost 6 percentage points last year. But due to the pandemic and the unique conditions for B2B marketers who are rapidly shifting spending from in-person events, growth will reaccelerate this year by 22.6%.

Many B2Bs have reduced their overall marketing spend, but even with budget cuts, paid digital channel use has surged amid the pandemic:

• In March 2020, 43% of US B2B marketers surveyed by B2B Marketing Zone said they would reallocate live event budgets to content creation. Digital ads have become a primary driver to this new content.

• Digital ads are a principal touchpoint to reach B2B buyers, who are spending more time at home in front of screens.

• Pullbacks from bigger powerhouse advertisers have depressed once-steep ad prices. With lower-than-average, competitive CPMs, B2Bs are turning to digital advertising to combat the loss of in-person events, meetings, and traditional sales channels. This reallocation isn’t dollar for dollar, but there has been enough budget shift to drive substantial growth on paid digital channels.

billions and % changeUS B2B Digital Ad Spending, 2017-2021

2017

$4.28

24.9%

2018

$5.46

27.5%

2019

$6.64

21.6%

2020

$8.14

22.6%

2021

$9.03

10.9%

B2B digital ad spending % change

Note: includes advertising that appears on desktop and laptop computersas well as mobile phones, tablets and other internet-connected devices onall formats mentioned; includes ads such as Facebook's News Feed Adsand Twitter's Promoted TweetsSource: eMarketer, Aug 2020257190 www.eMarketer.com

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VIRTUAL EVENTS MAY BE THE NORM POST-PANDEMIC

Most in-person events have been canceled, and as concerns around face-to-face meetings persist, companies will likely be pivoting to virtual gatherings—even for intimate dinners and cocktail hours with clients.

Virtual events will likely be a regular occurrence post-pandemic, according to US marketing professionals polled by The 614 Group in May 2020—especially large gatherings, including those that feature headliner speakers. Some marketers also believe that smaller gatherings will also become more frequent, at least for the time being. Roughly 15.5% said there will likely be virtual cocktail hours with clients that include custom video feeds of performers and concerts, while slightly fewer (10.9%) said that virtual client dinners, put together by boutique event producers who oversee the food and decorations, will be a regular occurrence.

% of respondents

Types of Events that Are Very Likely to OccurRegularly Post-Pandemic According to US MarketingProfessionals, May 2020

Global virtual events with live video feeds from headlinersspeaking about big issues

62.3%

Virtual event designed to foster community and share thoughtleadership among defined groups of experts/specialists

58.9%

Global virtual gatherings of country and regional experts tofoster global communities of those experts

51.0%

Member-only virtual networking gatherings designed to connectbusinesses with prospects

46.8%

AR/VR experiences shared by remote event attendees with thegoal of creating unique opportunities to demonstrate/try newproducts/services

24.4%

Virtual cocktail hours with clients that include custom videofeeds of performers/concerts

15.5%

Virtual client dinners created by boutique event producers whooversee delivered-to-the-door catering and special decorativesets for background

10.9%

Note: includes agencies, marketers, publishers, ad tech and othermarketing and advertising disciplinesSource: The 614 Group, "The Future of the 'In-Person' Business Economy,"June 8, 2020256141 www.eMarketer.com

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LEVERAGING TECHNOLOGY TO GAIN INSIGHT FROM VIRTUAL EVENTS

This post was contributed and sponsored by Cvent.

In most marketing departments, the event planning and digital marketing disciplines remain separate. Rarely do these groups work together, and even more rarely do companies aggregate the data they collect from events with data collected from their digital channels. With online events becoming more prevalent and likely here to stay, now is the time for these groups to come together and embrace events as a digital tactic.

The Future of Event Marketing is Digital

For most events, the top success metrics include registration numbers, attendee satisfaction, cost per attendee, and net promoter score. Compare this to the typical reasons companies host events—brand awareness, lead generation, and driving sales—and you quickly see the disconnect between event goals and event success metrics.

This disconnect occurs because the knowledge and expertise to measure goals like brand awareness, lead generation, and revenue attribution typically lie within the digital marketing teams. To truly measure the success of your events, event data must be brought online.

The Shift to Virtual Events

When events are hosted in an online environment, they quickly start to look familiar to digital marketers.. Much like digital marketing, virtual events focus on content delivery. And they often attract a much larger audience than traditional in-person events.

As companies have shifted to virtual events, many have seen five to ten times the number of registrants they would see for an in-person event. At our own customer conference, Cvent CONNECT, we saw more than 40,000 registrants for the virtual event in 2020 as compared to 4,500 at the in-person event in 2019.

While virtual events live in the digital world and produce a high volume of potential leads, you have to acknowledge the difference between virtual events and digital marketing tactics such as webinars. A virtual event requires a higher level of production and you need to captivate your audience’s attention and keep them tuned in, usually for multiple hours or even for multiple days. You also need to capture the online activity and tie it into your other digital marketing programs.

Take Action on Virtual Event Attendance

Digital marketers are accustomed to being able to track their audience’s online behavior. Virtual event management technology provides this same trackable insight into the virtual event behavior of attendees. These tools provide engagement metrics that look and feel familiar to digital marketers. And these data points can be integrated into marketing technologies to bring your event and digital marketing programs together.

Our Recommendations

Do not let this opportunity pass you by:

• Engage the right teams. Set time to understand how each group thinks about virtual events. Start with a knowledge exchange.

• Outline and align each team’s goals.

• Ensure you are leveraging the right technology for your virtual events, including a virtual event platform that supports both the logistical needs of planners and the digital needs of marketers.

—Julie Haddix, senior director, industry solutions, Cvent

Learn more and get started today at CVENT.COM Transforming Meetings & Events

Cvent Virtual Attendee Hub™Engage online audiences with a fully branded event experience, while capturing their interests in a single engagement score. Your virtual, hybrid and in-person events generate thousands of high-value interactions. Connect the dots with technology and insights that maximize the value of your event channel.

Reach | Engage | Convert

Helped customers execute

60,000+ virtual events

in 2020

Smile. Event programs are going digital.

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WHAT VIRTUAL SELLING MISTAKES ARE BUYERS SEEING?

Before the pandemic, in-person events and meetings were a pivotal touchpoint for sellers. Now, they’re figuring out how to transition to digital channels, but selling to influencers and decision-makers isn’t easy when done remotely.

A June 2020 survey from RAIN Group found that buyers (defined as influencers and decision-makers who purchase goods and services for their organizations) noticed a host of issues when being pitched to virtually. The highest share of respondents (89%) cited “experiencing technology problems” as a leading virtual selling mistake.

“Sellers have a more unique challenge during this time than their marketing counterparts, as engaging in conversations with buyers depends not just on best practices of stakeholder and company research, but also connecting with the individual person. And during this pandemic, every person is experiencing their own unique struggle,” said eMarketer principal analyst at Insider Intelligence Jillian Ryan.

Roughly eight in 10 buyers cited poor visuals during online meetings, issues with responsiveness and preparedness, and lacking presentation skills as top mistakes. Distractions garnered 77%. These responses indicate that buyers will notice the level of organization and professionalism from sellers, who must adapt to this new normal as remote work continues amid the pandemic.

% of respondents

Leading Virtual Selling Mistakes According to BuyersWorldwide, June 2020

Experiencing technology problems89%

Using poor or no visuals during online meetings86%

Not responsive to my questions or concerns84%

Not prepared83%

Lacking presentation skills80%

Sending poorly written emails80%

Distracted (by notifications, people, external disturbances, etc.)77%

Making an unprofessional impression75%

Note: experienced at least sometimesSource: RAIN Group, "Virtual Selling Skills & Challenges," June 25, 2020256796 www.eMarketer.com

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EXPERIENTIAL MARKETING IN THE AGE OF COVID-19

As the spread of coronavirus forced event cancellations worldwide, the experiential marketing industry has had to adapt to a new culture of remote work and social distancing. Companies like MAG Experience, a New York-based experiential marketing agency, acknowledge the tough road ahead but see an opportunity to bolster their virtual events and innovate new offerings for clients.

We spoke with Lenetta Pesotini, vice president of the MAG Experience, about the shift to virtual experiential marketing, keeping customers engaged during online events and the pandemic’s long-term impact on experiential marketing.

Can you share any best practices for switching to virtual events?

Think about your attendee first and foremost. How can you make them feel like you’re investing in them, even though you’re not under the same roof? How are you making your content interesting and tangible? Are you gamifying it? Also, think about your audience overall. Is everyone in the same time zone? Will you need to do video-on-demand so people can tune in on their own time? Or do you need to lean on people within each region to deliver a keynote, even if they would not necessarily be doing so if the event was in-person?

What’s the advantage of gamification?

You want to give attendees a way to interact with your brand or one another, as well as delivering content in a fun way. For example, a sales kickoff event: You can create situations they would encounter in everyday life, but put it in game form. At an in-person event, it’s very easy to tell if somebody isn’t in their seat, but at home, they might have you on mute, or they might be checking email or reading an article. If we enforce interaction and have games for them to play, we’ll keep them engaged.

How does this advice translate internally? As your organization shifts to working from home, have you taken similar steps for internal conferences and meetings?

Absolutely. We have mandated daily team meetups for our organization; and video-on is a requirement. We try to shift them throughout the day so they don’t become too routine. Sometimes, we’ll have breakfast or coffee. Other meetings will be in the afternoon or evening. When we completed our first work from home, we hosted a virtual happy hour—something we do often in the office, but sitting at home with all your team members on your screen was rather fun. We also play games that we are looking to pitch to our clients for gamification. We find ourselves to be the best case studies for it.

“You want to give attendees a way to interact with your brand or one another, as well as delivering content in a fun way.”

Lenetta Pesotini Vice President, MAG Experience

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What are the longer-term impacts of switching to virtual events?

We are in a situation where everyone has to be working remotely. We don’t have a choice. Because of that, people in financial departments are seeing that virtual spend is a lot less than in-person spend. But we are going to miss the human interaction. Brands will start to see that. While this might dictate the next year or two, the fears of being around a big group of people will rinse off, and we’ll be back to normal one day. Now, I can guarantee you that when it does get to that point, hand sanitizer and Lysol wipes will be the first items on our load list going forward. But I think we will get back to normal.

—CONTINUED

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ABOUT THIS ROUNDUP

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Contributors and ProductionDanielle Drolet Senior Editor & Program Director, Content StudioDana Hill Director of ProductionStephanie Meyer Senior Production ArtistKristen Riebesell Director, Media Solutions & Strategy