EMEA based event marketing: Proving ROI and ROO in event programs requires more than a gut instinct.
In a recent study of EMEA based CMOs, The CMO Club in thought leadership with Cvent, developed the CMO Club Solution Guide on the Effectiveness of Modern Event Marketing in EMEA. Results of the study determinedthe biggest challenge facing EMEA CMOs was proving ROI and ROO for events requires analysis and measuring event effectiveness in pre, during and post event strategy.
The study surveyed 81 CMOs and conducted in depth, 1:1 interviews with five CMO Club members, Phil Clement, Managing Partner, Chartwell Advisory Partners, former Global CMO, Aon, Catherine Walker, CMO, Vodafone, Glenn Thomas, CMO, GE Healthcare, Amy Scissons, CMO, Growth Markets Region, Mercer, and Julie Woods-Moss, CMO, Tata Communications.
One of the major challenges found was that 89% of EMEA based CMOs consider events very important to accelerate the sales cycle, but still need more justification at the board level to sign off and that proving ROI is the number one most pressing challenge that a board members need to justify events as part of the marketing mix.
Based on the study, five key take a ways were recommended to better demonstrate events’ financial impact as well as how to improve the efficiency and effectiveness of event experiences.
1) Set goals for establishing success benchmarks
2) Establish marketing and sales plans for each event
3) Deliver a more meaningful and memorable event experience
4) Incorporate lead management into post-event follow-up
5) Measure both the experience and the sales impact
- Using insights from event technology and event content to justify investment
- Actively encourage feedback before, during and after the event
Overall results show events should be viewed as ROI-producing assets and not simply unmeasurable expenses.