Nearly 70% of CMOs said in-person events are extremely or very significant in accelerating their sales cycle, according to a new CMO Solution Guide. Yet, while events are deemed critically important, they often lack the support in financial data to objectively prove their ROI and earn a corresponding piece of the marketing budget.
Among CMO’s most pressing challenges with event marketing were (in order of most responses): understanding overall effectiveness, proving ROI, and managing budgets. To help marketers find solutions to these challenges, The CMO Club, in partnership with Cvent, just released Modern Event Marketing: Viewing Events as an Asset Not an Expense.
We are in the era where many of our customer interactions are happening virtually, so how do you objectively and quantifiably translate the real value of bringing those interactions face-to-face during an event? If planning and hosting events are a part of your marketing mix, you may find yourself in this very conundrum.
The guide shares personal experiences and interview responses from top marketing leaders who have successfully found creative solutions, including insights that revealed five specific actions marketers can take to improve how their organizations measure event ROI:
- Closing the loop within your lead management system
- Measuring both the experience and sales impact
- Setting appropriate goals for each event
- Establishing marketing and sales plans for each event
- Delivering a meaningful experience for prospects and customers
To read more on these insights, download the CMO Club Solution Guide HERE.