Although the COVID-19 restrictions prevent large groups from getting together, socializing and connecting are still an integral part of human life. As businesses find ways to bring people together to share experiences while adhering to social distancing rules and guidelines, they’ve found ways to bring people together. This has been a catalyst for growth of companies that facilitate socializing through technology.

A number of virtual event startups have entered the market in response to the pandemic, although traditional event planning companies have been hit extremely hard. A virtual event is a “virtual venue” which offers users access to a wide range of features. Virtual rooms can be accessed and left at any time. This reproduces the format of a traditional live event or conference.

It is one of the most important factors in any successful event. It will give you an opportunity to connect with your customers or bring together people from different backgrounds and cultures. It will create a unique atmosphere and make sure that your guests are having fun. That’s why it is so important to find the right entertainment for your event.

The event industry is here to stay. And it’s one of the most profitable industries you’ll ever get into. But why?

  1. People love events and will always have parties, celebrations, and special occasions that need a helping hand from an experienced professional.
  2. The number of single-day festivals is increasing year on year – for example, in London, there were over 2,000 events planned for this summer alone!
  3. The rise of social media has made people more likely to involve into event industry.

There are a lot of reasons why the event industry won’t die in a foreseeable future.

Reason1: The event industry is growing and changing

Physical gatherings were strictly prohibited in several places around the world in order to prevent the spread of the disease. Likewise, a number of major events were cancelled or postponed because of the disease.

The unforeseen challenges were impacting every activity around the globe, with no tangible way to meet partners, investors, employees, or other shareholders, from local to foreign. Despite all the roadblocks of meeting in-person, there was no alternative but to cancel upcoming events. There were virtual alternatives available, and organizations that were able to adapt to them were the ones who could survive the unforeseen issues. Businesses that are progressive and quick to act gravitated towards virtual platforms for hosting events in order to remain competitive.

The event industry is growing and changing into a more digital space. The use of social media platforms for promoting and sharing events has increased significantly, but event producers also turn to video to engage their audience and increase attendance.

Each hour YouTube uploads 30,000 hours of video. And every day 720,000 hours of video.(Statista, 2021). The number of smartphone users continues to increase, and most smartphone users watch video on their mobile devices. The average person spends about two hours per day watching videos on Facebook. In general, one billion mobile video views are made every day. In the US, the most popular search term is ‘pewdiepie’. (Source: Ahrefs) The most popular YouTube term is ‘slowly’, followed by ‘bts’.

The event industry has been growing steadily for years. In the United States alone, the industry generates $22 billion in revenue each year and continues to be a major influence on people’s lives. It is estimated that almost half of Americans have attended at least one event every year.

It is also interesting to note that events are not just limited to large-scale gatherings anymore. More and more people are looking towards smaller events as well. This is because they appeal to a niche audience and allow participants to build relationships and improve their knowledge base.

Reason2: Event industry is an important part of the economy

The event industry is a massive part of the economy, and it continues to grow. This is a staggering number and shows just how important events are for businesses, consumers, and the economy in general.

A new Knowland report projects that at the end of October, total meetings volume was about 40 percent below what it was in the same month of 2019 — and the climb back up will take some time, White says. By the end of 2022, the industry will have recovered about 58.3 percent of meetings volume. It will have recovered in August 2023 to 2019 levels in each individual month; by the end of 2023, it will be 86.9 percent recovered.

Global Events Industry Market value is estimated to be USD 886.99 Billion in 2020 and reaches USD 2,194.40 Billion by 2028, growing at 13.48% CAGR. According to a survey. The events industry contributes £70 billion to the UK economy each year. Over a lakh population is engaged in present event industry.

These numbers show that events are an essential part of any business’ marketing strategy. Our events encourage communication, networking, and knowledge sharing among a variety of people, including freelancers, small businesses, startups, NGOs, and other organizations from all over the world. Companies and organizations in the event industry provide jobs for millions of people.

Reason3: Event industry provides jobs for many people

The event industry is one of the most rapidly growing industries in the world. It provides livelihood to many people who are involved in planning and organizing events. Apart from this, it also provides many part-time jobs for people who are interested in such work.

The event industry provides jobs for many people. With the rise of events and conferences, this industry is quite booming and you can find many jobs in this industry.

There are many companies that offer event planning services and they need professionals who can help them with the process. With these jobs, you will get to meet new people and travel to different places.

In order to be able to work in this field, it is important to have a few essential skills. You need to be able to communicate well because you will have to engage with different people on a daily basis.

Reason4: Businesses use events to build relationships with clients and partners

Businesses can use events to build relationships with their clients and partners. The event makes it possible for the business to increase brand awareness and network with a large number of people in the industry.

Events are the best way for businesses to build relationships with clients and partners. It is the most convenient way for both parties to meet, socialize and talk about their business in person. The event experience can be used as a venue to find new prospects, establish trust and relationship, generate leads and convert them into customers.

A successful business event enables you to:

• Build awareness of your brand;

• Get expertise recognized;

• Learn from others;

Reason5: Events bring in new customers through word of mouth referrals and recommendations

If you have worked in the events business, you know how crucial events are to not only your business but every other business out there. But do you know how great they are for your brand reputation? Word of mouth is still one of the most powerful ways to promote a business, and the best way to get word of mouth going is through a successful event.

Sales events are excellent for bringing in new customers through word-of-mouth referrals and recommendations. Studies have shown that customers who buy at sales events are happy with their purchases and eight times more likely to recommend a product to others than shoppers who buy outside sales events.

It is crucial that you take the time to build your brand and make it memorable. When you give customers an experience, they will remember it. Sales events are a perfect opportunity for creating new brand experiences with existing customers, as well as attracting new ones.

Conclusion:

As technology advances, event industry will never die. In fact, the event industry has seen a rapid growth in recent years. The rise of new technologies and tools in the past few decades have been extremely positive for the event industry. These technologies and tools are constantly making our lives easier, helping us save time and money while facilitating more efficient workflows.

Moreover, event industry facilitates in the following aspects-

  1. Socialization
  2. Knowledge and learning
  3. Promoting business
  4. Networking opportunities
  5. Entertainment and fun
    If you’re a part of the event industry, it’s important that you stay up to date on the latest trends within your industry so that you can be the best event planner possible! If you want to learn more about what makes events so successful, please be confident to contact us, we the Expouse will always happy to make your event extraordinary.


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