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June 3rd 2019

Viewing Events as an Asset, Not an Expense

Heather Lishman image by Heather Lishman

Prospects are becoming shrewder and digital marketing channels more complex following the implementation of the GDPR. The results of this CMO study revealed, now more than ever, face-to-face events are an integral part of a CMO’s strategy to engage customers and drive revenue.

However, proving events and meetings attribution to pipeline and ROI is extremely difficult.  When CMOs were asked about their most pressing challenges, 77% selected proving ROI (Return on Investment) as their biggest event marketing challenge. Cvent, in partnership with The CMO Club, developed the CMO Club Solution Guide on the Effectiveness of Modern Event Marketing in Europe to understand how CMOs view the impact of meetings and events on their businesses.

To help event professionals better prove the value of their events, the study details how event organisers must move beyond the logistics and activity reporting to become strategic, ROI-focused marketers. This not only requires an understanding of how events engage customers, but also how they accelerate the sales cycle and deliver bottom-line results. It involves understanding the language of the C-suite and the technology that can help demonstrate that value.

Simple quantitative metrics of ‘how many people attended’ or ‘total number of leads’ should be supported by more qualitative metrics such as ‘the impact of content’ and ‘overall levels of engagement’.  Successful integration of event technology with internal MarCom’s systems enable this data to be used to draw insights and map levels of engagement during the event to high-quality, qualified leads.

89% of CMOs consider events to be important to accelerate the sales cycle and it is no surprise that customers who engage with authentic brand content at events are more likely to choose a particular brand over its rivals. This is because prospects who engage in a live environment have already expressed interest in the brand simply by showing up. Again, without the right tools, this qualitative insight and the impact it has on the sales cycle can be hard to prove.

Producing insights and data that is linked to the bottom-line is the key. The research revealed, CMOs have multiple ways to show growth in both ROI and ROO (Return on Objectives) before, during, and after an event using:

  • mobile app insights;
  • gamification;
  • attendee tracking;
  • in-event surveys;
  • and social listening.

With so much scrutiny on the bottom line and return on event (ROE), this research makes a clear case as to why organisations should be taking advantage of the increased returns provided by the use of fully integrated event management technology.

To read the full study click here

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