The Secret Life of an Events Optimiser
Until now, events have been notoriously tricky to measure and until recently, marketers didn’t have the ability to track their event program from end to end. But this is all changing due to the advancement of technology and data, the growing investment in in-person experiences, and a new class of elite event marketers called ‘Event Optimisers.’
A global study, carried out by Harvard Business Review Analytic Services and sponsored by Splash, surveyed over 700 enterprise leaders and found that only 23 percent of respondents can truly measure event ROI. Data from the study showed that this top-performing group of respondents, known as ‘Event Optimisers’ all shared six commonalities. With these commonalities companies are able to optimize, iterate, and measure events to their maximum ROI potential.
So what exactly are Event Optimisers able to do, compared to regular events marketers?
They Can Measure Event ROI
Possibly the most important factor for any business taking part in event marketing, is being able to prove the generation of ROI. In addition to tracking top line metrics like number of visitors or cost per visitor, Event Optimisers are also measuring bottom line metrics like sales pipeline, new business generated by prospective customers, and actual generated revenue. U.S cloud computing company, Salesforce, is a good example of an Event Optimiser that tracks number of attendees and also leverages its own CRM products and third-party marketing event software to dig deeper.
The Shift in Focus from Sponsored to Hosted Events
Sponsored events still remain a big part of an Event Optimisers strategy with 85 percent of businesses prioritizing them. They know how to align their sponsored events with specific business objectives and are choosing them when driving new leads or capitalizing on a key industry event. However, with 93 percent of businesses prioritizing hosted events, the shift in focus is imperative for event optimisers that look to seek full control of the customer experience.
By hosting your own events, you are more likely to accomplish your specific intention and maximize ROI. Event Optimisers have perfected their event strategies and will invest even more, with 4 in 10 survey respondents planning to spend more on hosting events next year.
They Are Investing More
It’s no surprise that the fastest-growing companies; those who have grown 30 percent or more in revenue in the last two years, are investing the most in events. Event Optimisers not only spend more on events, but also hire dedicated event staff. Over a quarter of respondents said they have 11 or more full-time event planning and management employees, whilst a third said they spend between 21 percent and 50 percent of their marketing budget and events.
They diversify event types & align goals
Event Optimisers aren’t just banking on one type of event. They are utilizing different events at different stages of the sales funnel because they know the different outcomes they can expect from each event type.
They Adopt End-To-End Event Technology
Technology is helping event optimisers track and measure, improve registration and attendance, and increase productivity. Not only that, it can provide a better attendee experience and ensure better planning and execution in line with company goals. The best tech adopters are better at measuring ROI and 90 percent consider themselves “well-positioned for future success” compared to only 65 percent to non-adopters.
They Leverage Powerful Event Data
Capturing high-quality data from every touchpoint gives Event Optimisers the ability the continually optimize for better event outcomes by unlocking insights on events attendees preferences. This can enable personalized event experiences, relevant post-event communications and support future marketing efforts.
By integrating event technology with CRM software, businesses can gain easy access to the data needed to generate actionable intel, including real-time event insights at every stage of the event lifecycle.
The secret life of an Events Optimiser is certainly an exciting one. This group are exceeding business goals and capturing critical market share from connecting their events to actual revenue. For businesses wanting to adopt a more Events Optimiser model, these practices will push their events marketing strategy into an elite league.