CHICAGO — The Freeman Trends 2024 Attendee Intent and Behavior Report, released Jan. 16, revealed the motivations, expectations and needs of event attendees for 2024 and beyond.
The survey suggests that trade show organizers analyze their attendees based on their socioeconomic status, age, gender, and event type, as these are the best indicators of attendee values and behaviors. Trade show organizers should take a close look at their audience to uncover their specific needs and expectations.
All four social groups (Gen Z, Millennials, Gen X, and Boomers) are demanding personalized experiences, which can be successfully created when the organizer understands their attendees. Freeman encourages the use of AI to meet this demand. The report also uses the XLNC framework to break down attendee motivations and drivers, which correspond to experience, learning, networking, and commerce.
“In an ever-changing multi-generational meeting environment, planners must harness the power of personalization to attract and delight the most diverse audience we’ve seen in our industry. Focusing on what attracts attendees and what they value during the event are often two very different things. In this report, we use the power of data and insights to give meeting planners an edge in a highly competitive race to attract the best and brightest to our meetings,” said Ken Holsinger, senior vice president of strategy and research at Freeman.
Results obtained using the XLNC framework
According to the survey, the most important experiential elements are immersive experiences (64%), personalized programs (45%), technology that facilitates event consumption (44%), and immersive and visually appealing atmospheres (43%). Games or competitions, wellness opportunities, and more natural lighting fell to the bottom of the priority list, with less than 7% of respondents saying they were important.
The survey found that 70% of respondents chose in-person events as a top source of professional training and content, and 53% cited online events (down 7% from the 2023 survey). However, with more (58%) next-gen event attendees turning to online sources like LinkedIn and YouTube for professional content, Freeman suggests using this opportunity to prioritize training at events.
Seventy-five percent of respondents said demonstrations and hands-on activities were a preferred format for technical education/information, and 52% preferred unstructured interactions with experts. There was a year-over-year decrease in those who preferred structured classroom sessions with a speaker or panel and video demonstrations. When it comes to the value of online events, overall convenience and access to educational content are most important.
Networking opportunities are imperative at in-person trade shows and events, and the survey examined preferred types of networking and revealed the following:
- 81% prefer to speak with experts
- 68% generally prefer to meet new contacts
- 64% prefer peer-to-peer exchange
- 54% prefer to create unique experiences with people they know
- 52% prefer to discover new business or research partners
Looking more closely at the important elements of networking, Freeman found that participants value meetings around similar professional challenges, opportunities to meet on specific topics, scheduled meetings around common interests, and spaces where informal networking can occur.
According to the study, commerce is the most important element of an event for all respondents and especially for decision-makers. When it comes to discovering new products and services, 80% of respondents identified in-person events as a primary source, followed by company websites (62%), professional and trade organizations (53%), and trade journals and publications (51%). According to the survey results, hands-on demonstrations and samples are the most valuable commerce elements because they allow attendees to see solutions in action.
In-Person Attendance Trends
Freeman’s survey found that even more people view in-person events as the most trusted source of information in 2024 (80%), compared to 2023 (75%).
Perceptions of reduced attendance at in-person events are more optimistic for 2024 than in 2023, with 56% of respondents believing the reduction is temporary, up from 48% in 2023, and 10% believing it is permanent, down 7% from last year.
In 2024, the number of respondents preferring to attend events in person over online is also on the rise, with 82% preferring and selecting in-person options, and only 1% typically preferring and selecting the remote option.
However, 17% of respondents say their preference depends on the event in question, signaling to the industry that there is still room for online events. When deciding whether to attend an online event, respondents say they place a high value on unique or engaging content, the ability to access it on-demand, and price.
Respondents indicated that shrinking travel budgets, inflation, economic concerns, perceived safety at the event venue, and shrinking training budgets were the most common circumstances impacting event attendance. Only 23% cited global affairs and 18% cited local and national politics as impacting their attendance. The most common reason for not attending an in-person event in the past 12 months was staff shortages or workload pressures, but the percentage of those citing this reason decreased by 6% compared to 2023.
However, optimistically, the report found a 50% decrease in the number of respondents planning to attend fewer events in 2024, and respondents planning to attend more events in 2024 than they had planned in 2023.
Find and download the full Freeman Trends 2024 Participant Intent and Behavior Report here.