EventView 2008: North America, the largest and longest-running annual survey of corporate sales and marketing executives, reveals that events generate the highest ROI of any marketing channel. This is just one of the main findings of the study produced by a unique collaboration among The Meeting Professionals International (MPI) Foundation, the Event Marketing Institute (EMI) and George P. Johnson (GPJ).
More than 1,000 senior sales and marketing executives in North America, Europe and Asia Pacific – more than half of whom represent companies with revenues of in excess of $1billion – were interviewed via a telephone survey. This first study in the year-long series reveals that face-to-face marketing activities are on the rise among the world’s largest corporations, and event marketing continues to be fuelled by an uncertain global economy and the drive for ROI.
Some of EventView 2008: North America’s key findings include:
- Reaching new customers is the primary marketing concern for 23% of North American senior sales and marketing executives, followed by 12% concerned with growing market share profitability.
- 43% of respondents indicate that event marketing is taken under consideration along with other mediums and 24% characterise events as a vital component of the marketing plan. 15% say events are a lead tactic.
- 42% of respondents estimate the future importance of event marketing in their organisations will increase or increase strongly. 7% expect a decrease.
- 27% of the average marketing budget is spent on event marketing, a 5% increase over last year.
- 30% of the average event marketing budget is dedicated to internal events (training, etc.), while 70% is dedicated to external events (trade shows, etc.).
- 40% of respondents stated that sales and marketing meetings get the most budget of all internal events (followed by education or training events); trade shows get the most event dollars of all external events according to 58% of respondents (followed by conferences).
- Respondents who reported measurement activities are one and a half times more likely to expect an increase in their event marketing budget than those who do not measure.
- 34% of respondents plan on implementing green initiatives within the event function within the next 12 months; 50% are doing so as a result of a corporate responsibility mandate.
- 54% of respondents say they will transition from event marketing to experience marketing in the next 12 months.
- 22% of respondents indicate that the role of procurement/purchasing is increasing; 49% rate that role as constant.
The results of the survey confirm the general opinion of chief marketing officers and event managers that the increase in demand for performance in the face of stiff competition is driving marketers to embrace events to engage with their markets and increase business results. Furthermore, in the face of splintering media channels, live experiences have emerged as a way to connect directly with customers, media, analysts, shareholders and other key groups, a trend that shows no signs of being a passing one. Lastly, given the fact that events and experience marketing are the most effective way of bridging the gap between the brand and its audience, they now carry more weight in the brand communications process. In fact, the strategic power of events is changing the marketing strategies of brands both in the USA and worldwide.
Methodology
Now in its sixth year, the EventView study is the event and meetings industry’s longest-running, global report on event marketing trends. Between October and December 2007, more than 1,000 individuals in marketing management positions from North America, Europe and Asia Pacific were interviewed via telephone with the goal of bringing clarity to the value and role that events play in the marketing mix. The results of the 2008 survey have a +/-3% margin of error.
