Assessing the Growth and Future Potential of Digital Marketing in Event Management

Abstract

The global events arena has been significantly revolutionized, especially with the dominant forces of change as a consequence of the coronavirus pandemic. Notable from the more recent easing of restrictions is an increase in live events, though not without its challenges and opportunities. The industry is increasingly characterized by hybrid events that have a mixture of in-person and virtual elements, allowing an extended reach of the same through a well-thought-out strategy. Increasingly, such experiences need to be highly personal and rich in experience; this compels companies to innovate and come up with very different formats for events. Digital marketing has, therefore, become the cornerstone for event promotion as companies strive to make their events experience-rich for potential clients. Industry reports cite the events market's probable growth at a compound annual growth rate of around 11% for 2021–2028, spiraled by a reviving live events space, technological progress, and increased consumer spending on entertainment and leisure activities.