With the new year upon us, your customers will be deciding how to spend their 2017 marketing budget, so its import to know what will happen with experiential marketing in 2017. Until now, there hasn’t been a way to get an accurate estimate of experiential marketing budgets. However, the Event Marketing Institute recently released The 2017 Experiential Marketing Spending Forecast, a new annual report that offers an analysis of where event and experiential marketing budgets were in 2016 and where they’ll be in 2017.
Event Marketing Institute analysts estimated an 11% average increase in experiential marketing budgets for 2017. (The first double-digit average experiential marketing budget since 2008!) The 11% increase estimate is based on a proprietary survey of brand marketers, interviews with heads of event marketing at Fortune 500 companies and conversations with procurement executives and top industry influencers. 1
Overall ad spending will go down in 2017. According to an article by The Wall Street Journal, ad spending will decrease significantly in 2017. Internationally, there is an estimated slowdown to 3.6% spending growth in the global ad business this year, (down from 5.7% in 2016) and ad sales in the United States are expected to face a slowdown to 1.7% growth in 2017 (compared to 6.9% growth in 2016) 2
However, the amount spent at live events is expected to increase this year. According to the report by the Event Marketing Institute, almost 60% of marketers plan to increase spending on event and experiential marketing in 2017. According to Event Magazine, event marketing continues to top marketing growth, with events remaining in the top sector posting growth, following closely by internet spending and direct marketing.3
These projections should be good news for our industry and makes 2017 look like a good year for live experiences. Mike White, founder of Itch Experience, stated that brands are spending more in event marketing due to growing consumer demand. “People want be engaged through their passions and cultures and that means live experiences”, he said. 4
1. Event Marketer. Experiential Intelligence Report. The 2017 Experiential Marketing Spending Forecast.
2. The Wall Street Journal. Ad Spending to Slow Significantly in 2017.
3. Event Magazine. Event marketing continues to top marketing growth.
4. Event Magazine. Bellwether Q4 2016: the inexorable rise of event marketing.
Like our posts? Click below to follow the Expand blog and get all of our latest updates: