How do event marketers use event data?
Event marketers of the world, rejoice! You're using event data more effectively than your brand marketing brethren.
- 74% of event marketers use event data to inform their marketing strategy, compared to 54% of brand marketers. (Freeman, 2019)
- 60% of event marketers use event data to drive leads, compared to 35% of brand marketers. (Freeman, 2019)
- 53% of event marketers rate tracking total number of leads as a top 3 metric, compared to 17% of brand marketers. (Freeman, 2019)
- 38% of event marketers say the right event data impacts revenue by over 21%; 22% say it impacts revenue by less than 10%. (Freeman, 2019)
- 54% of event marketers say the right event data can improve the audience quality by over 21%; 18% say it can improve audience quality by less than 10%. (Freeman, 2019)
There are still issues, though. Business-to-business (B2B) event marketers struggle more with event data than business-to-consumer (B2C) event marketers.
- 58% of B2B event marketers rate analzying data effectively as top challenge, compared to 46% of B2C event marketers. (Freeman, 2019)
- 44% of B2B event marketers and 36% of B2C event marketers say their number one reason for incomplete event data is a lack of resources and/or time. (Freeman, 2019)
The proper tools can help capture more event interactions and analyze the results effectively.
How do events impact sales?
Entertaining your attendees means they're more likely to break out their wallets. But by how much? And can increasing your event activity increase your revenue?
- Over 65% of B2B professionals report that hosted events are very important in driving pipeline generation. (Certain, 2018)
- 79% of US event marketers use event marketing to generate sales. (HubSpot, 2019)
- 67% of consumers purchased products direct from consumer experiences. (Freeman, 2019)
- Customers with the greatest past experience spend 140% more compared to customers with the poorest past experience. (Harvard Business Review, 2014)
- Companies with 30% or more revenue growth over the past two years have been those who increased their event activity most. (Harvard Business Review, 2018)
However, there is still room for improvement. Prospects are 60x more likely to convert if someone follows up within one day of initial contact, but that's easier said than done.
94% of event marketers are unable to follow up with event-generated leads during the same day. (Certain, 2017)
70% of B2B marketers report handing off leads to sales is ineffective. (Certain, 2018)
Nearly 60% of event marketers take 4+ days to follow up with event-generated leads. (Certain, 2017)
Effective follow-up starts with a solid alignment with your sales team. This helps you qualify leads faster and move event prospects through the pipeline fast.
Why do attendees come to events?
There are many reasons why attendees come to your events. From networking to making purchases, we've documented a few pertinent reasons.
- The top 3 reasons attendees come to events is education (92%), destination (78%) and networking (76%). (The Experience Institute, 2017)
- 97% of attendees attend events to shop for new products and technology. (Freeman, 2019)
- 76% of US and 74% of UK attendees agree that networking with other attendees is a key part of the professional event experience. (Cvent, 2018)
- 79% of buyers say it's important to be able to attend events to learn more about a product or service prior to making a personal purchase. (TimeTrade, 2018)
- 88% of B2B buyers and 92% of B2B technology buyers it's important to have live meetings or appointments with companies they may buy from. (TimeTrade, 2018)
Events are perfect for facilitating meaningful connections. However, they're much more than a perfect place for networking - they're also a vital part of the total brand experience.
95% of business professionals say face-to-face meetings are a key factor in successful building and maintaining long-term relationships. (Harvard Business Review, 2016)
79% of business professionals say in-person meetings are the most effective way to meet new clients to sell business. (Harvard Business Review, 2016)
- 69% of B2B customers want omnichannel and multichannel experiences. (Accenture Interactive, 2018)
- 84% of attendees say they have a more positive opinion about a company or brand after an event. (EMI & Mosaic, 2016)
Learning more about your attendees can help you tailor their experience across multiple channels and, ultimately, increase their satisfaction.
Which statistic was most surprising to you? Tweet at us @Brellanetwork and let us know!