Technology adoption is key to measuring event ROI, says report
A new report released by end-to-end marketing software company Splash suggests that the events industry is entering a new era, in which high-performing companies are investing more in event technology.
The report was put together alongside Harvard Business Review Analytic Services, and is titled ‘The Event Marketing Evolution: An Era of Data, Technology and Revenue Impact’.
It surveyed more than 700 enterprise executives and shared insights on their event strategies. The report revealed more than 90% of companies prioritise hosting events for customers, and that high-growth companies are increasing their event event investment more than others.
Approximately 23% of companies say they are able to calculate return on investment (ROI) for events. These Event Optimisers are able to exceed business goals.
In addition to experiencing more than 30% revenue growth, what these businesses had in common is investment in data-driven event technology, the ability to measure top and bottom funnel metrics, and a shift in strategy from sponsoring to hosting events.
According to the study, the “best [technology] adopters are on average more likely to see business value from events and to consider themselves better positioned for future success.”
Ben Hindman, CEO of Splash, said: “More than ever before, it is crucial for businesses to go beyond the digital space to build meaningful relationships, through human, in-person experiences.
“However, measuring event ROI is challenging and until recently, it was nearly impossible. Now, with the growing investment in events, and the maturation of end-to-end event technology, event marketers have the ability to report on much more than anecdotal results.”
To download the full report, visit this link.