COVID-19 Forcing B2B Marketers to Cancel More Exhibitions, Shift to Virtual Events
As the impact of the COVID-19 pandemic continues to be felt, new research suggests that B2B marketers in the exhibition space have needed to make numerous adjustments to their strategies.
The Center for Exhibition Industry Research (CEIR) recently released the results of a survey detailing how COVID-19 is impacting B2B exhibition marketers. Statistics showed that as of April, 62% of marketers have been forced to cancel at least one B2B exhibition, and this percentage jumped to 73% in June. 41% of marketers had to postpone at least one B2B exhibition back in April, and this percentage fell to 37% in June.
The research suggests that B2B marketers have been able to host previously postponed events online. About 63% of respondents said that they have at least one digital alternative in place for postponed events.
How COVID-19 Continues to Impact Marketing
This is not the first research to suggest that the impact of COVID-19 is being felt across the marketing industry. Previous research suggests that many marketers have been encouraged to change course as a result of the pandemic.
LinkedIn published the “COVID Marketing Impact and How Marketers are Responding” report, and statistics indicated that for the majority of marketers (76%), being forced to shift priorities has been the leading challenge during the pandemic. Other obstacles include budget cuts (74%), and advertising investments and planning (69%).
Approximately 69% also stated that switching from in-person to virtual events has been a top challenge during this time.