There are many avenues marketers can take to reach out to their target audiences, but new research suggests that event marketing may be one of the more efficient tactics.
Splash and the Harvard Business Review recently published “The Event Marketing Evolution” report, and statistics showed that the majority of marketers (52 percent) believe that event marketing drives more business value than other marketing channels.
In addition, B2B marketers are finding more success with event marketing than their B2C counterparts. According to the report, more than half of B2B companies (54 percent) say they derive more business value from events than from other forms of marketing, versus 48 percent of B2C companies.
That being said, there is still room for improvement among marketers across the board when it comes to ROI. Just 23 percent of respondents said that they can effectively track their event marketing ROI.
“The challenges of calculating what an event contributes to a company’s bottom line are numerous, but one of the biggest revolves around the issue of multi-touch attribution— figuring out how to apportion credit in instances where buyers place orders after an event has concluded—sometimes long after it has concluded—and may have been contacted by the seller many other times, and in many different forms, in the interim,” concluded the authors of the report.
ROI Obstacles in Social Media Marketing
Measuring ROI is a pain point for many marketers, and it doesn’t just apply to event marketing. Previous research suggests that social media marketers struggle with it as well.
According to Social Media Examiner’s “2018 Social Media Marketing Industry Report,” 38 percent of marketers are uncertain that they can measure the ROI of their social media efforts.
Nearly 94 percent of marketers claimed that they were using Facebook to reach out to their target audience, and two-thirds said it was their most important social platform. However, only 49 percent said that they felt their Facebook marketing efforts were effective.