The trend of 'festivalization' is a potential trap. Instead of trying to become a festival like Coachella, successful business events maintain their core purpose of commerce and networking while layering in festival-like elements of fun, community, and inspiration.
The 'experience' component of an event, such as high-end production or parties, is not a foundational objective for attendees. It serves as an 'amplifying factor.' Planners should first deliver on learning, networking, and commerce, then use experiences to enhance those core goals.
Research from Freeman reveals a major disconnect: planners prioritize expensive 'wow' factors like galas and keynotes, while attendees define a great experience as one that helps them learn, network, and do business more effectively.
Freeman's research quantifies the immense value of networking. While the industry average for first-time attendee retention is 30%, that figure jumps to 51% if an attendee makes just one meaningful connection, nearly doubling the event's long-term value.
A significant perception gap exists between event organizers and their audiences. While 78% of planners are confident their attendees have a memorable 'peak moment,' data shows only 40% of attendees actually report experiencing one, indicating a failure to deliver on what truly resonates.