In Prelude, we were specially curious to find out about event ROI since events are what we do all day long. Even in dreams!
So we rolled up our sleeves (metaphorically) and put together the data for you from multiple sources. We found that some of the main reasons are: sales (of course!), marketing, customer relationships and branding. Here’s the infographic we made about it:
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So What’s An Event ROI?
If we talk return on investment (ROI) in numbers, 75% of companies with event budgets between 50 million and 100 million dollars expect to get back more than 5x what they invested in live event and experiential programs and “48% of brands realize a ROI of between 3:1 to 5:1 with their events and experiences” according to EMI & Mosaic. While “44% of marketers experience a 3:1 ROI from event marketing”, according to Statista.
Reasons To Invest In Events
SALES
About the reasons to invest in events, the first and most obvious is increasing sales: “83% of brands say their #1 reason for event participation is increasing sales” according to Live Marketing. While EventTrack says “70% of users become regular customers after an experiential marketing event” and EMI & Mosaic that “65% of brands say that their event and experiential programs are directly related to sales”.
MARKETING
But it’s not the only one. There are other marketing reasons, like media exposure or lead generation. Since “Tradeshows and events are the second most effective tactic in a marketer’s mix, after their company website” says Forrester and “67% of B2B marketers think that event marketing is their most effective strategy” according to WebDAM. According to EventTrack, “76% of marketers say their event and experiential marketing initiatives are integrated with their other marketing campaigns”. Marketing Profs stated that “70% of marketers say that the most common metric to judge event ROI is amount of media exposure generated” and Marketing Charts that “64% of marketers use tradeshows and events to source new prospects and business opportunities”.
CUSTOMER RELATIONSHIPS
Another common reason to invest in an event is to bond with current customers, MarketingCharts showed that “51% of marketers surveyed believe that events strengthen existing customer relationships”.
BRANDING
Events can also help overall with branding, learning about a company and gathering a better opinion of a brand. According to EventTrack, “65% of the consumers surveyed said live events helped them have a better understanding of a product or service, vastly surpassing digital efforts and TV advertising as methods of recognizing and learning about a brand”. While EMI & Mosaic stated that “74% of event attendees say that they have a more positive opinion about the company, brand, product or service being promoted after the event.”
And how to measure if your event was successful? In the end, “over 86% of event marketers said attendee satisfaction is their best gauge on event success” (Guidebook). So you’ll have to ask your attendees!
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