Event marketing continues to reap rewards for brands
The Event Marketing Institute has just unveiled the results of its third annual EventTrack study, signalling explosive growth for the event and experiential marketing industry as a result of its success in driving brand engagement.
More than 600 companies took part in this year’s study, which tracks the opinions of brand marketers, agencies and consumers to provide insight to the value and impact of the sector.
The top-line findings included:
- 93% of consumers said live events reach them more effectively than television advertising
- 89% said a live event gives them a better understanding of a brand's product or service than a television, radio, print or online banner ad
- 96% said they are more inclined to purchase after a live event—and of those that purchase, 84% said they purchase more than once
- 74% reported a more positive impression of a brand after a live event engagement
- 59% tell others about a live experience within 48 hours of that event
The report from marketers reflected how responsive and engaged an audience is from live experiences too, with 79% saying that their activity is generating sales and almost half report their campaigns generate at least a 3:1.
The impact that event marketing can have on buying behaviour, brand equity and the bottom line continues to be demonstrated through research such as this, as well as through the fact that companies that run live campaigns tend to do so again and again, and on a larger scale.
We’ve watched this idea escalate in recent years as more of the organisations that we work with – both B2B and B2C – recognise the value of taking their products and services directly in front of their target audience. As a result, more roadshow truck tours are out on the road for longer, covering wider territory and on a bigger scale.
Our work with Ciena is one example of this. Its mobile Innovation Lab has toured Europe and the Middle East for several years. The logistically challenging tour combines a hectic international schedule of customer sites and exhibitions to demonstrate cutting-edge telecommunications equipment to existing customers and prospects – witnessing for themselves the benefits of Ciena’s product.
The fact that visitors can get hands-on with products or services at a live event is one of the main driving factors for roadshows and has one of the biggest impacts on engagement and purchasing behaviour.
The EventTrack study illustrates this point, citing 83% of consumers who decided to buy a product or service did so because they sampled it or saw a live demonstration at an event.
The power of events and experiential activity should not be underestimated, as they help audiences make a personal connection, driving a longer and deeper relationship with a brand.