Experts & Opinions: How the Event Landscape Has Changed Since the PandemicExperts & Opinions: How the Event Landscape Has Changed Since the Pandemic
Joep Leussink, Head of Growth at AddEvent, explores how the events industry has dramatically evolved since COVID-19, highlighting the permanent shift toward hybrid and virtual formats that have created new opportunities for engagement, data collection, and content monetization.
In the more than five years since the arrival of COVID, the event and conference industry has changed dramatically. The implementation of stringent restrictions on gatherings and heightened concerns about virus transmission led to the development of hybrid and virtual experiences, which have quickly evolved to become a core element of putting on an event.
Businesses have often found hybrid events and virtual elements to be more affordable and dynamic, while many participants have discovered they prefer the flexibility and privacy of the new offerings. The introduction of hybrid and virtual events has led participants to rethink how they interact with these experiences on a more permanent basis and has led businesses to expand their event reach.
With the development of hybrid and virtual events having reshaped the industry, it’s worth taking a moment to consider some of the specifics of their role in those changes – and how those developments could help drive more change over the next five years and beyond.
Hybrid and Virtual Innovations Driving Change in Events
The global events industry didn’t just survive the pandemic – it has boomed in the years since, driven in part by the development and influence of hybrid and virtual events and elements. Continued robust growth is anticipated in 2025, when, according to Bizplanr, nearly 80% of event planners are expected to adopt hybrid event formats and the industry is projected to reach $1.35 trillion in market size – at a compounded annual growth rate (CAGR) of nearly 10%.
The appeal of hybrid and virtual events on a broader scale is largely self-evident for both hosts and participants: improved affordability, flexibility and sustainability, for instance. But some of the specific components of this new model have also helped achieve previously untapped value or dimension, demonstrating why hybrid and virtual are here to stay – and perhaps shedding some light on the near future of events.
Some important benefits include:
Improved data capture: Technology allows for more connectivity between event organizers and attendees, plus more thorough and rich data collection that can not only help fuel marketing efforts but also enhance the events themselves for future participants.
Geolocated marketing and experiences: Even at on-site events, virtual reality and geolocation can augment the traditional attendee experience and allow organizers to more readily reach the targets of educational and marketing campaigns in the moment and with trenchant tactics, giving attendees personalized and tailored experiences.
Reuse and monetization of event content: In the past, the vast majority of event displays, materials and programming – often physical media – were one-and-done items. The new event model prioritizes digital elements with longer shelf lives, which can also sometimes be parlayed into profits.
What Changes Are Yet to Come in the Events Industry?
Necessity led pandemic-era events organizers to develop new ideas, workarounds and tactics, pushing them to both pivot to immediately available solutions, as well as innovate new ones. The results were a quantum leap for events, and that momentum should carry the industry through the next few years as it addresses certain pain points.
As an example, according to recent research by ElectroIQ, although one-third of people find virtual events engaging, only 23% find virtual conferences to be truly unique. Consistent, reliable engagement is an ongoing challenge for event organizers.
To that end, we’re likely to see in the future more integrations, improved customization, an increase in the use of AI and enhancements that allow for more seamless end-to-end attendee experiences, as well as marketing and sponsorship opportunities that are better targeted and feature deeper engagement. These can include smart attendance and calendar tools that provide participants with reminders of events, connections to advance materials and notifications of schedule adjustments, or, say, the addition of new keynote speakers.
The dark times of COVID provided one small ray of light – innovation inspired by need. The takeaway for the events industry should be this: The smart, nimble thinking that drove so much technological development and optimization of the traditional event model shouldn’t require a pandemic to achieve. The world moves quickly. Challenging old ways and views is the only way to keep pace with it.
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