Study Shows 50% of Event Marketers Specifically Budget for Social Media
A new study on the viral impact of event marketing from FreemanXP and the Event Marketing Institute shows that 50% of those surveyed indicated that they set aside a specific budget for social media. The study also found that a majority (53%) are planning on increasing spending on social media when it comes to event marketing, and the same percentage also measure their viral impact on an event level.
Impact of Different Social Networks
Another aspect of the study was in the identification of the likelihood of viral success, largely dependent on the type of social network used. Study participants reported that Facebook was the most effective pre and post-event, while Twitter was best used in real time, during the event:
In addition, when asked to list the overall most effective social media channel for event marketing, Facebook and Twitter were almost exactly equal:
Areas of Improvement
The majority of those surveyed served either B2B or a combination of B2B/B2C marketers and were mainly in IT, medical, pharmaceutical, and financial services. This demographic is important to note when taking stock of the participants perceived effectiveness of their social media efforts when it comes to increasing viral impact and content sharing levels. The majority believed that they are at average effectiveness (36%), noting the fact that they know they could improve.
In the B2B-focused companies specifically, there is a significant need for improvement. 78% of B2B event marketers believe that attendees and visitors to their events share event content on social media; yet only 32% of those polled say they use social media to reach non-attendees during events.
Utilizing social media can help companies reach attendees and those not at the event itself, thus doubling impact.
Screenshots of study taken Feb 16, 2015