83% of CMOs place high value on event programmes
Event management technology provider Cvent showcased the findings of its Modern Event Marketing Europe report to the audience of its CONNECT Europe conference in London, 1-2 October.
The study, which surveyed 72 EMEA chief marketing officers (CMOs), including five from Vodafone, GE Healthcare, Tata Communications, AON and Mercer, revealed extensive insights into the importance of events as a marketing asset, rather than an expense.
According to the CMO responses, 83% consider their event programmes to be either ‘extremely’, ‘very’ or ‘significantly’ valuable for facilitating revenue growth.
Only 4% run events that are not tied in some way to revenue goals while 89% consider events to be either ‘critical’, ‘very important’ or ‘important’ to accelerating the sales cycle.
Currently, the largest contributor to event ROI is customer satisfaction metrics (52%), followed by new lead capturing (29%).
When the CMOs were asked, whether or not their events programme contributed to their overall revenue goals in an efficient manner, 57% said yes but that they needed more justification for board-level sign-off. In fact, 53% of CMOs stated that proving ROI was ‘very important’ when it came to allocating budget to events.
Julie Woods-Moss, former CMO, TATA Communications told the CONNECT audience: “To elevate our events we focus on pre, during and post event initiatives to maximise the overall success factor and increase our ROI. Techniques include creating immersive experiences and offering a keynote slot as part of a sponsorship.”