We often talk about the need to measure effectively, and the value and ROI of experiential marketing. In the name of practicing what we preach, we thought it would be worthwhile to share some highlights from the Event Marketing Institute’s 2013 EventTrack report.
Event marketing is one of the most direct means of creating and reinforcing customer relationships. According to the study:
- 95% of consumer respondents said participating in a recent event made them more inclined to purchase the products promoted
- 52% said they bought the product or service marketed at a recent event attended
- 54% said they bought a product or service at a later date
- 88% of event attendees who buy once say they become regular customers
The key to these results is letting people experience how your product or service works, as 71% of consumers saying sampling or seeing a demonstration is an influential factor.
The study also shows that ROI is a clear benefit of events as 65% of companies experience an ROI of at least 200%, and more than a third experience greater than 300% ROI. Additionally, 70% of consumers leave events and experiences with a more positive opinion of the brand, company or product being showcased.
The study also shows that more and more, companies and senior executives are realizing and embracing event and experience marketing as a core portion of their marketing mix. Budgets are increasing to support the growing impact of events.
What we find interesting is that there are still 22% of senior executives who remain skeptical of the impact of event marketing. Our recommendation? Share this data and start a conversation about the measureable effectiveness of event marketing. Making an impression and allowing your customers to put a face, feeling, and personality to your brand can make all the difference. Improving the ROI from your marketing isn’t hard it just takes a little bit of new thinking. Review the study and if that doesn’t work see the impact of event marketing for yourself by integrating it into your own outreach program.