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Event Budget and Digital Engagement: Challenges & Opportunities

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According to a recent study, the number of events worldwide will grow by 75% year on year. However, the average size will decrease by 50% in the coming 5-10 years. Events will be more fragmented and there will be a digital push, meaning a huge portion of the increase will be digital/online.

At the same time, organisations will invest between 30-50% of their event budget in digital engagement. Those organisations that have already put innovation as a priority investment admit that the largest challenges to overcome are first financial resources, and immediately after ‘fighting the status quo’. When it comes to innovation and change, there will always be skeptics who feel the current ways of doing things should remain unchanged. But they are missing out on today’s best and most efficient technologies for engaging and activating attendees, members and customers.

Time for change or not?

Of course, not all change is positive but improvements will not happen if the organisation’s leadership is afraid of evolution, and does not support new approaches. There will always be a distinct line separating associations that are innovative from those that are not. But what makes great market players is their skill at handling inconsistency. Where do you see your organisation fitting in? Do you have a strategic plan for innovation in place? What is your innovation goal?

This year, FOCUS is celebrating its 10th anniversary. Ten years of industry trends and successful association stories. The content in this issue has been created to help you think like a futurist and get inspired by the latest trends and innovations. Get your copy here!

At MCI, we are using the latest digital capabilities in alignment with the key messaging that associations need to deliver high quality content, good networking opportunities and promote interactivity in order to attract more participants to their conferences and congresses. Contact us here to find out how we can help you engage and activate your audiences.

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