B2C & B2B Experiential Marketing Spend Increases
Global spending on B2C and B2B experiential marketing grew by 9.7% last year, reaching $116.14 billion, according to a report from PQ Media. While the growth rate was slightly lower than in 2022, this marks the third consecutive year of expansion following the pandemic-induced decline in 2020. The study forecasts an even stronger increase of 10.5% in the coming year, which would push total experiential marketing spending to $128.3 billion—surpassing the pre-pandemic 2019 level of $121.9 billion.
Although consumer (B2C) experiential marketing continues to hold the majority share (70.5%) of the total market, business (B2B) experiential marketing is growing at a faster rate. In 2023, B2B spending increased by 11.5%, outpacing B2C’s 8.4% growth. This year, the gap is expected to narrow slightly, with B2B spend forecasted to rise by 11.1% and B2C by 10.3%. Notably, the US B2B trade show market is projected to exceed its pre-pandemic totals this year, indicating a strong recovery and demand for in-person business experiences.
Within the B2C sector, consumer event sponsorship spending reached $42.72 billion in 2023, with sports being the dominant category, accounting for 67.1% of the total sponsorship market. The US had an even higher reliance on sports sponsorships, with nearly 75% of its event sponsorship spend going to sports-related events. Additionally, global live consumer event spending amounted to $39.2 billion, with Sports & Entertainment as the largest category, holding a 40.9% share. The US remains the world’s leading market for experiential marketing in terms of total revenue.
These trends highlight the growing importance of experiential marketing across both B2B and B2C sectors, with businesses increasing investments in trade shows, sponsorships, and live events to engage audiences. As the market continues to expand, marketers must refine their strategies to maximize their return on investment in experiential initiatives.
Key Actionable Takeaways:
Prioritize Experiential Marketing Investments – Given the continued growth of the sector, allocate more resources to experiential strategies to engage audiences in meaningful ways.
Capitalize on B2B Growth Trends – With B2B experiential marketing outpacing B2C growth, focus on trade shows, conferences, and networking events as high-impact engagement channels.
Leverage Sponsorship Opportunities – Invest in event sponsorships, particularly in the sports and entertainment sectors, where sponsorship spending remains strong.
Optimize In-Person and Digital Integration – Blend live events with digital experiences, such as virtual access and interactive content, to enhance audience engagement.
Focus on ROI Measurement – Develop clear KPIs to assess the effectiveness of experiential campaigns and ensure alignment with broader marketing goals.
Adapt to the Growing US Market – If targeting the US, consider the dominance of sports-related sponsorships and consumer events to maximize market penetration.
Enhance Personalization in Events – Use data-driven insights to tailor experiential marketing efforts, creating customized experiences for different audience segments.
Expand Brand Presence at Trade Shows – As the US B2B trade show market rebounds, ensure your brand is actively participating in key industry events to drive business growth.
Explore Niche Experiential Opportunities – Beyond mainstream events, identify unique sponsorship and live event opportunities that align with specific brand values and target demographics.
Plan for Continued Growth – With the market expected to exceed pre-pandemic levels, develop long-term experiential marketing strategies that are adaptable and scalable for future growth.
