Strategic Benefits of Conferences
The global corporate event market is projected to
grow at an annual rate of 10.5%,
reaching $1.1 trillion by the 2031. (1)
The growth of conferences is fuelled by the increased importance of personalised experienced to enhance brand awareness and boost engagement. A recent survey reveals 87% of executives recognise the power of live events and plan on investing more in them in the future. (2)
The strategic benefits of events and conferences include the following:
1. Increase awareness of organisation/brand: Conferences offer increased visibility, often due to the efforts associated with marketing the event. In addition, 84% of attendees indicate that they have a more positive impression of a brand after attending an event. (2)
2. Strengthen industry leadership and authority: Conferences provide an opportunity for organisations to position themselves and industry leaders and experts. According to B2B Marketing, 80% of marketers believe that hosting events is essential to establishing their company as a leader in their industry. (3)
3. Improve understanding of market and competitive trends: Conferences provide an opportunity for industry experts to share insights, allowing organisations to stay alert to the latest customer and competitive trends.
4. Foster innovation and idea generation: A survey by Harvard Business Review found that 77% of executives believe that conferences play an important role in fostering innovation within their organisations. (4) Conferences bring together thought leaders and active market participants, creating an environment conducive to collaboration and idea generation.
5. Strengthen relationships with existing clients/members: In-person interactions at conferences offer personalised engagement that improves understanding of customers and their needs and strengthen loyalty. Conferences provide opportunities to gather direct feedback from customers, partners, and industry experts, aiding in market research.
6. Strengthen relationships with potential clients/members: Conferences provide networking opportunities with potential clients, HubSpot notes that 95% of marketers believe that live events provide attendees with valuable opportunities to form in-person connections. (5)
7. Communicate Special Features of Organisation: ESG or Diversity Initiatives. Conferences allow organisations to highlight their unique features, including their Environmental, Social, and Governance (ESG) and diversity initiatives. Deloitte’s research shows that 79% of organisations actively engage in sustainability efforts, and conferences can effectively communicate these commitments . (6)
8. Enhance engagement and development: Conferences serve as platforms for training, networking, and professional development, leading to higher engagement. Gallup’s findings reveal that companies with highly engaged workforces outperform their peers by 147% in earnings per share. (7)
9. Build Community and Foster Collaboration Conferences create a sense of community among participants, fostering collaboration and partnerships.
1 ICE (In-house Corporate Events) Major Corporate Events Statistics Worth Knowing Today
https://www.staffconnect-app.com/blog-posts/major-corporate-events-statistics-worth-knowing-today2 Stova: The Complete Guide to Event Marketing
https://stova.io/event-marketing-guide/#:~:text=84%25%20of%20event%20attendees%20say,being%20promoted%20after%20the%20event.3 BizzaBo: The Events Industry’s Top Marketing Statistics, Trends, and Data
https://www.bizzabo.com/blog/event-marketing-statistics4 Fryer, Broonwyn (2006) What Are ConferencesFor? Harvard Business Review
https://hbr.org/2006/06/what-are-conferences-for5 Hubspot The Ultimate List of Marketing Statistics for 2024 https://www.hubspot.com/marketing-statistics
https://blog.hubspot.com/marketing/event-marketing6 Deloitte 2022 CXO Sustainability Report
https://www2.deloitte.com/content/dam/Deloitte/at/Documents/sustainability/at-sustainability-report-2022.pdf7 Gallup 2013 The Benefits of Employee Engagement
https://www.gallup.com/workplace/236927/employee-engagement-drives-growth.aspx