Two recent studies show that events make money, but that sizable percentages of marketers don’t know how much return they’re getting on their investments.
A study by Demand Metric, done for the event-management software company Attend, found 21 percent of marketers said that events they sponsored as marketing initiatives earned average returns of 20 percent to 29 percent. (You can download the report at that link.)
The second-largest share (19 percent) said they didn’t know how much their events earned. Eight percent said they broke even or lost money, and another 8 percent said they doubled their investment. The survey included 202 marketers, 68 percent of whom work for B2B companies.
Less than a third used ROI to measure event success, said the study, which also found that while only 28 percent of respondents used event-management software, they were more likely to track metrics such as ROI (35 percent to 25 percent), engagement (43 percent to 30 percent) and revenue (47 percent to 31 percent).
A scientific conferences survey done by BioBM found that only 38 percent of the B2B marketers for life-sciences companies tracked their ROI using quantitative (numbers-based) metrics, although 49 percent said they either tracked ROI using qualitative (subjective) measures or “had a good idea” of it. (You can download the report at that link.)
The study also found that while conferences occupy the largest share of participants’ marketing budgets, marketers ranked them third for ROI, behind content marketing and email marketing.