Looking forward often requires we take a look back. With events budgeting is in full swing, and the decisions you make now will affect your entire year. To help you make the big decisions on how to allocate that budget, we’ve put together a collection of the most revealing and thought-provoking data and benchmarks that are trending in events marketing.
Scroll below to see the eye-opening data that will help your company make the big decisions regarding your budget, and plan your events strategy.
Data to Justify Your Marketing Spend
- 73% of B2B marketers agree that events are better than any other tactic for customer engagement (Source: Marketing Charts).
- 80% of over-performing businesses plan on increasing their event budget for 2019 (Source: Bizzabo Event Marketing 2019 Benchmarks and Trends).
- 51% of marketers agree that events strengthen existing customer relationships (Source: Marketing Charts).
- On average, B2B companies spend 29% of their marketing budgets on events, while B2C companies spend 19% of their marketing budgets (Source: Harvard Business Review Analytic Services).
- This year 50% of companies are allocating over 21% of their marketing budgets towards events for a 39% increase (Source: Bizzabo Event Marketing 2019 Benchmarks and Trends).
With events being the most effective channel for high performing companies, allocating the events budget should be a huge priority for companies because a well-managed events budget could make the difference between an OK-year and a great year. As we enter 2019, it’s clear that companies are looking at their events spend and finding ways to maximize their events budget to find even more success in the events space, as well as with their customer engagement and retention.
Data to Support Tech Investment
- The average business saves 223 hours each year by using event software (Source: Bizzabo Event Marketing 2019 Benchmarks and Trends).
- 60% of event planners report that event apps to increase attendee engagement (Source: State of Mobile Event Technology Report).
- 63% of marketers that have event software do NOT have trouble proving event ROI (Source: Bizzabo Event Marketing 2019 Benchmarks and Trends).
- $7,500 is the median increase in event technology budget for 2019 (Source: Bizzabo Event Marketing 2019 Benchmarks and Trends).
- 90% of event technology adopters consider themselves well-positioned for future success (Source: Harvard Business Review Analytic Services).
Companies are quickly realizing that utilizing quality event technology produces higher ROI from their event investments. Overperforming companies realize that combining their smart event tech with marketing automation tools streamline event marketing efforts, allowing companies to spend less time and effort while making more sales. In 2019 companies will continue to invest in event technology to keep their teams firing on all cylinders.
Data to Measure Event Success
- 75% of leads are never followed-up with after an exhibition (Source: The Marketing Donut).
- 14% of marketers plan to integrate marketing automation with their events, and only 7% currently do (Source: Capterra).
- 37% of event technology adopters are able to track the ROI for their events (Source: Harvard Business Review Analytic Services).
- On average, 33% of businesses determine event success by attendee engagement and satisfaction, 23% by the number of sales created or won, and only 14% by the number of leads (Source: Bizzabo Event Marketing 2019 Benchmarks and Trends).
With the lack of event measurement in the past, marketers are quickly adopting smarter technology and procedures to tell the story of their events. Most marketers are reporting higher ROI through Account-Based marketing strategies, especially when events are included because it combines digital implicit signals with in-person, explicit signals. However, if you’re not utilizing an event lead management solution to capture lead data and context, you’re not going to be able to fully track your efforts or prove event ROI.
Good luck with your events budgeting, and here’s hoping your 2019 events plan will be rock solid and give you the return you’ve been wanting. If you need any extra help, atEvent is the perfect partner for companies to maximize event success.