Throwing a successful event does not really give us a clear idea of the success of the event; therefore we have examined a few factors that can give an appropriate measure of the events ROI. According to resent studies the following key factors should be focused on:
[2] How events influence marketing mix
[3] Event marketing strategies
[4] Value added analytics
Attendance Trends
It is said that 81% of event attendees may recommend or make final purchasing decisions. 47% of attendees propose that the reason behind their event attendance is to gather information that will aid them in purchasing decisions.
How Events influence Marketing Mix
Results have proven that events are important in the marketing with 31% of businesses relying heavily on events to market their business. Events have shown to be a great source to capture new prospects and business opportunities. In addition to that events generate greater leads and the opportunity to meet with clients face-to-face.
Event Marketing Strategies
Marketing executives have identified the following factors for effectively measuring ROI:
[1] New referrals
[2] Quality leads
[3] Sales
[4] Up selling or cross-selling success
[5] Value Added Analytics
Marketing executives identified that one of the most important challenges was building a solid business case for event and trade show participation. The other challenge faced by marketing executives is managing escalated budgets and the resources required for the event.
