It’s all about the Number Game!

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Everyone in the event industry thrives on numbers. No matter what the type or scale of the event is, the effort is always aligned towards boosting the engagement rate and reducing the costs. Basically, “doing more for less”, driven by efficiency and reduction of costs, remains a familiar mantra. So, in this article, we take a look at the facts and figures which define the current numbers situation of the event industry.

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Budget:
Venue: Event planners spend a majority of their budget on the venue. Standing at 36%, deciding the venue takes up a big portion of the allocated budget. Simply because venues can make or break your event!

Catering: Next up in second place in the budget rankings is catering. The food served at your event can take up to 34% of your budget.

Marketing: 10% of the budget is spent on marketing. This 10% can have a huge impact on the number of people attending your event and/or the buzz that’s generated around your event.

Speakers: The speakers at your event will take up the last 10% of your marketing budget. Use this 10% wisely as the engagement rates at your event can largely depend on the speakers.

Promotion:
A whopping 85% of the event marketers have chosen email marketing for their event promotion. Email campaigns may sound old school in this 21st century, but figures say otherwise.

73% of the event marketers have increased the use of videos. As Facebook has around 2 billion active users, its live video functionality helps boost promotions. Same goes for YouTube, where around 1.5 billion users actively engage in watching videos. More than 92% of millennials regularly watch digital video.

Registration:
71% of all the ticketing and registration happens online. People still primarily buy tickets on computers, but there was a 50% increase in the use of smartphones for ticket purchases. 44% of the event organizers said they’d open registrations 3 months prior to the event while 16% chose to open registrations only one month prior.

Technology:
An overwhelming majority of event marketers (86%) believe that technology can have a major positive impact on the success of their events. The use of event apps has grown 20% every year. Event managers believe event apps do help in managing the event in an enhanced manner.

In fact, adopting a mobile event app has provided a positive ROI for 91% of event planners and 11% of event managers want an app platform from where they can have complete control & access.

The numbers do speak for themselves. The world is moving towards a much technologically-inclined environment. And thankfully, for event planners, Hobnob is here to design and create event mobile apps with increased ease and simplicity.

All stats and figures sourced from https://blog.bizzabo.com

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