1 eventview 2009: financial services. 2 overview eventview background status key performance...
TRANSCRIPT
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EventView 2009: Financial Services
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Overview
• EventView Background
• Status Key Performance Indicators Summary
• Trends• Budget• ROI• Measurement• Green• Event-to-Experience Transition
• What this means to you
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Study Background• Annual, global and first-of-its-kind study of event marketing trends across industries and geographic regions
• Launched in 2002 by George P. Johnson (GPJ), EventView is the longest–running study of the event marketing industry
• Co-sponsored by MPI Foundation since 2003
• Co-sponsored by the Event Marketing Institute since 2007
• Currently in its 7th year reporting on the perceptions senior level executives have of event marketing
• Financial Services respondents surveyed earn upwards of $100 million in annual revenue with 59% representing companies that generate over one billion in revenue
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U.S.19%
Germany22%
Spain9%
France9%
Japan14%
Canada7%
Australia10%
UK8%
China2%
Survey Demographics - Geography
Key Take-away: Financial Services findings are based on a total sample 174 respondents from 9 countries.
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Key Take-away: 59% of respondents represent large enterprise companies.
$1B - $4.9B32%
Under $250M7%
$500M - $999M24%
$10B+24%
$5B - $9.9B3%
$250M - $499M10%
Survey Demographics - Revenue
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CxO9%
Director13%
LoB Manager23%
Advertising Management
6%
Other9%
Consultant1%
VP11%
Sales/Marketing Management
28%
Survey Demographics - Title
Key Take-away: This is a survey of senior level perceptions of event marketing, not event marketers’ perceptions of the discipline.
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Key Take-away: 64% of respondents have marketing budgets over $1M. 26%have budgets over $5 million. 21% have budgets over $10M.
$5M - $9.9M5% $1M - $4.9M
38%
Under $500K26%
$50M - $99M1%
$100M - $199M1%
$200M - $499M8%
$500M+4%
$10M - $49M7%
$500K - $999K10%
Survey Demographics Marketing Budget
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• Measurement of return on marketing investments• Re-engineering the marketing mix to improve performance• Reaching new customers• Keeping loyal, profitable customers• Growing market share profitably• Maximizing sales in emerging markets• Building brand awareness
Companies’ Primary Marketing ConcernsFinancial Services - 2008
Question: Thinking about your current marketplace,what would you say is your primary marketing concern today?
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Key Take-away: Reaching new customers (18%) is top of mind among respondents followed by keeping loyal, profitable customers and building brand awareness.
Companies’ Primary Marketing Concerns
30%
5%
6%
18%
14%
4%
2%
11%
8%
3%
0% 5% 10% 15% 20% 25% 30% 35%
Other
Measurement of return on marketing investments
Re-engineering the marketing mix to improve performance
Reaching new customers
Keeping loyal, profitable customers
Growing market share profitably
Maximizing sales in emerging markets
Building brand awareness
Economy
Price / Cost
Question: Thinking about your current marketplace,what would you say is your primary marketing concern today?
Financial Services - 2008
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Financial Services Trends in MarketingKey Performance Indicators
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Key Take-away: Event’s proportion of the marketing budget has decreased with the percentage of marketers expecting budget increases predictably on the decline. Event marketing’s “importance” status is maturing.
Financial Services 2006 - 2008
Financial Services Trends inEvent Marketing KPI’s
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31%
47%53%
65%
52% 36%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2006 2007 2008
Increasing
Remaining Constant
Key Take-away: The percentage of respondents that rank the future importance of events as increasing has declined as events rise to prominence among marketing disciplines. It appears event marketing has established its relevance.
Financial Services 2006 – 2008
Question: How do you estimate the future importance of event marketing for your organization?
Future Importance of Event Marketing
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Automotive Trends in Event Marketing Status KPI’s
Events’ stable proportion of the overall marketing budget is a clear indicator of an industry that is maturing and whose function as a sales driver is becoming more well known throughout the enterprise.
Although 39 percent of respondents expect marketing budget decreases, budget fluctuations are most likely related to the economic downturn, not necessarily a decline in the perception of event marketing’s value to the organization.
Respondents have historically been optimistic about the future importance of events. The decline in the number of respondents who rank the future importance of events as increasing could be interpreted as another sign of event’s rise to prominence in the organization and the stabilizing of it’s ranking among marketing channels.
Implications
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Key Financial Services Findings: Budget Trends
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Financial Services 2006 – 2008
Question: What percentage of your company's total marketing budget is currently spent on event marketing?
Event Marketing’s Share of the Marketing Budget
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Key Take-away: Event marketing’s share of the marketing budget has decreased 4% since 2007.
Event Marketing’s Share of the Marketing Budget
Question: What percentage of your company's total marketing budget is currently spent on event marketing?
Financial Services 2006 – 2008
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• Event marketing • Print advertising• Broadcast advertising• Public relations• Web marketing• Direct mail• Other
Question: How is your marketing budget split among disciplines?
Financial Services – 2008
Marketing Budget Allocation by Discipline
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Key Take-away: Print advertising (27%) and event marketing (19%) spend make up for nearly half of respondents’ marketing budgets.
Question: How is your marketing budget split among disciplines?
Marketing Budget Allocation by Discipline
Financial Services – 2008
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• Increased• Remained Constant• Decreased
Marketing Budget Fluctuation
Question: Would you say your overall marketing budget has increased or decreased?
Financial Services 2007- 2008
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Key Take-away: 61% of respondents said their budgets increased or remained constant. 39% experienced decreases in their budget.
Question: Would you say your overall marketing budget has increased or decreased?
Marketing Budget Fluctuation Financial Services 2007- 2008
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Financial Services 2006 - 2008Event Marketing Budget Fluctuation
Question: By what percentage do you anticipate your event marketing budget allocation will increase or decrease?
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Key Take-away: Respondents that expect additional budget expect a 12% increase. Those that expect cuts expect a 26% decrease.
Question: By what percentage do you anticipate your event marketing budget allocation will increase or decrease?
Event Marketing Budget Fluctuation Financial Services 2006 - 2008
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• Event marketing • Print advertising• Broadcast advertising• Public relations• Web marketing• Direct mail• Other
Marketing Budget Decrease Allocation
Question: If you have experienced a budget decrease, where are you taking the dollars from?
Financial Services - 2008
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Key Take-away: Print advertising (58%) and event marketing (36%) are first affected by budget cuts.
Financial Services - 2008
Question: If you have experienced a budget decrease, where are you taking the dollars from?
Marketing Budget Decrease Allocation
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• Event marketing • Print advertising• Broadcast advertising• Public relations• Web marketing• Direct mail• Other
Marketing Budget Increase Allocation
Question: If you have experienced a budget increase, where are you putting these additional dollars?
Financial Services - 2008
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Key Take-away: Web marketing (39%) and event marketing (30%) gain the most from shifting marketing dollars.
Question: If you have experienced a budget increase, where are you putting these additional dollars?
Marketing Budget Increase AllocationFinancial Services - 2008
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Key Financial Services Findings: ROI Trends
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Financial Services 2006 - 2008
• Direct Mail• Web Marketing• Public Relations• Broadcast Advertising• Print Advertising• Event Marketing
The Greatest ROI in Marketing
Question: Of the following marketing elements, which would you say provides the greatest return on investment?
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Key Take-away: Marketers have ranked events as the discipline that provides the greatest ROI for the past 2 years with events providing a higher ROI than broadcast by nearly a factor of 3.
Question: Of the following marketing elements, which would you say provides the greatest return on investment?
9%
19%
16%
15%
12%
13%
12%
17%
17%
8%
6%
22%
19%
20%
14%
8%
17%
23%
0 0.05 0.1 0.15 0.2 0.25
Direct mail
Web marketing
Public relations
Broadcast advertising
Print advertising
Event marketing
2008
2007
2006
The Greatest ROI in Marketing Financial Services 2006 - 2008
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• It can be measured• Minimal investment for highest exposure• Wide exposure• In person contact• Reaches a targeted audience• Builds new contacts• Primary source of information• Number of people reached
Why Event MarketingProvides the Greatest ROI
Question: Why does Event Marketing provide the greatest ROI?
Financial Services 2007 - 2008
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Key Take-away: 82% of Financial Services respondents consider event marketing to provide the greatest ROI because it includes opportunities for in-person (face-to-face) contact.
Question: Why does Event Marketing provide the greatest ROI?
Why Event MarketingProvides the Greatest ROI
Financial Services 2007 - 2008
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Key Take-away: Event marketing is the overwhelming choice as the discipline that best accelerates and deepens relationships.
Financial Services - 2008
Question: Of these marketing elements, which would you say is best for accelerating and deepening relationships?
Accelerating and Deepening Relationships
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Key Financial Services Findings:
Measurement Trends
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Measurement in Event Marketing Financial Services 2006 - 2008
Question: Do you do any event measurement?
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Key Take-away: The percentage of respondents who report measurement has increased 9% since 2007.
Financial Services 2006 - 2008
Question: Do you do any event measurement?
Measurement in Event Marketing
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Key Take-away: Budget allocations for the activity are stable.
Financial Services 2006 - 2008
Question: What percentage of the event marketing budget is allocated to measurement?
Budget Allocations for Measurement
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Financial Services - 2008Measurement Motivation
• Procurement influence
• Marketing best practice
• To justify expenditure
• To protect or increase budget
• To demonstrate marketing ROI
• To improve attendee experience
Question: Why do you measure?
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Key Take-away: The majority of respondents measure to demonstrate marketing ROI (36%).
Question: Why do you measure?
Measurement Motivation Financial Services - 2008
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Measurement Topics
• Number of qualified leads
• Learning impact
• Media impressions
• Overall experience satisfaction
• Attendance
• Quality of leads
• Sales increase
• Overall communication effectiveness
• Change in brand perception
• Other
Financial Services 2006 - 2008Question: What do you measure?
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Key Take Away: The leading categories of event measurement are sales increases (34%) followed by the number of qualified leads (28%).
Financial Services 2006 - 2008Question: What do you measure?
Measurement Topics
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Key Take-away: Companies that measure are 65% more likely to expect increases in their event marketing budgets than those who don’t measure.
Financial Services - 2008
Question: How do you anticipate your marketing budget allocations will change relative to event marketing?
Measurement Impacts Event Marketing Budgets
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Key Financial Services Findings:
Event-to-Experience Trends
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• Awareness
• Consideration
• Preference
• Purchase
• Loyalty
Experience Marketing at Work Financial Services - 2008
Question: What primary marketing objectives do you currently use experience marketing for?
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Key Take-away: Respondents most use experience marketing to motivate purchases (18%) and preference (16%).
Financial Services - 2008
Question: What primary marketing objectives do you currently use experience marketing for?
Experience Marketing at Work
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The Transition to Experience Marketing
• Not at all
• Don’t know
• In the next three months
• In the next six months
• In the next twelve months
Question: How quickly are you transitioning your event marketing initiatives into experience marketing?
Financial Services - 2008
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The Transition to Experience Marketing
20% 13% 11% 19% 18%17%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2008
Already transitioned
In the next three months
In the next six months
In the next 12 months
Not at all
Do not know
Key Take-away: 20% of respondents are already integrating green into their event programs. 41% will follow within the next 12 months.
Question: How quickly are you transitioning your event marketing initiatives into experience marketing
Financial Services - 2008
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Key Financial Services Findings: Green Trends
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Financial Services - 2008
•Already implemented
•No current plans
•Do not know
•In the next three months
•In the next six months
•In the next twelve months
Green Initiatives Implementation
Question: When do you plan on implementing green initiatives within the event function?
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Green Initiatives Implementation
41% 6% 25% 12%6% 6%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2008
Already implementedIn the next three monthsIn the next six monthsIn the next 12 monthsNo current plansDo not know
Financial Services - 2008
Question: When do you plan on implementing green initiatives within the event function?
Key Take-away: 41% of respondents are already integrating green into their event programs. 18% will follow within the next 12 months.
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Financial Services 2007- 2008Motivations for Green
• Corporate responsibility mandate
• Cost savings
• Gain a competitive advantage
• Win or maintain customer loyalty
• Don’t know
Question: Why is your company implementing a green initiative?
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Motivators for Green Initiatives
3%
22%
29%
29%
61%
20%
18%
8%
8%
46%
0% 20% 40% 60% 80%
Other
Win or maintain customerloyalty
Gain a competitiveadvantage
Cost savings
Corporate responsibilitymandate
2008
2007
Key Take-away: Abiding by a corporate responsibility mandate is respondents’ primary motivation for going green. Green initiatives account for 10% of event budgets.
Financial Services 2007- 2008
Question: Why is your company implementing a green initiative?
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Key Take-aways and Implications
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Key Take-aways1. Respondents’ number one marketing concern is reaching new customers.
2. Since 2007, event marketing has been considered by respondents to provide the greatest ROI among marketing channels and is perceived to provide a higher ROI than broadcast advertising, by nearly a factor of three.
3. Further confirming the power of events, event marketing is the overwhelming choice of marketers as the discipline that best accelerates and deepens relationships.
4. Although budgets have been affected by the economic climate, event marketing’s share of the marketing budget remains relatively stable.
5. Companies that measure are 65% more likely to expect increases in their event marketing budgets than those that don’t measure.
6. The data suggests a synergy between events and Web marketing.
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How does this affect you?As the role of event marketing increases in prominence it will likely be increasingly used to anchor integrated communications campaigns. Event marketers and meetings managers who can expand their knowledge outside of the event function will increase their prospects for career growth and enhance their role as strategic contributors to the enterprise.
One important leverage point will be in knowing how meetings and events accelerate and deepen relationships so that you can better build this capability into your events and be the person responsible for driving profitable business outcomes.
No longer moments in time, meetings and event experiences live on through digital media. Your success will depend on how well you integrate the power of face to face marketing with the reach and speed of the Web.
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How does this affect you?
With budgets expected to continue contracting, the need for measurement will only increase. How will you incorporate qualitative and quantitative data to fully articulate the value of the events in your portfolio?
The market is looking for ever-higher ROI. Competition during this recession is high. In addition to logistical innovation, what strategic vision can you bring to the table?
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Addendum
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The Role of Event Marketing
• A lead tactic
• A vital component of the plan
• Taken under consideration with other mediums
• Usually an after thought
Financial Services 2006 - 2008
Question: In planning a marketing campaign, what best describes the role of event marketing?
58
The Role of Event Marketing
9%
35%
47%
8%
12%
37%
36%
12%
8%
48%
26%
17%
0% 10% 20% 30% 40% 50% 60%
Usually an afterthought
Taken under consideration with other mediums
A vital component of the plan
A lead tactic
200820072006
Key Take-away: Up 5% from last year, 17% of respondents consider events a lead tactic of the marketing plan.
Financial Services 2006 - 2008
Question: In planning a marketing campaign, what best describes the role of event marketing?
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External Event Budget Distribution
• Mall Marketing
• Guerilla Marketing
• Sports / Entertainment Sponsorships
• Road Shows & Mobile Marketing
• Conferences & Seminars
• Trade Shows
• Grassroots Campaigns
• College Marketing
• Nightlife Campaigns
Question: What types of external events currently account for the majority of your event budget?
Financial Services 2006 - 2008
60
5%
3%
36%
38%
51%
30%
1%
7%
6%
12%
12%
35%
27%
51%
5%
4%
9%
4%
3%
22%
19%
44%
42% 55%
0% 10% 20% 30% 40% 50% 60%
Nightlife
College
Grassroots
Mall marketing
Guerilla marketing
Sports / entertainment sponsorships
Road shows & mobile marketing
Conferences & seminars
Trade shows
2008
2007
2006
External Event Distribution
Key Take-away: Since 2006, trade shows and conferences have accounted for the majority of the event budget.
Question: What types of external events currently account for the majority of your event budget?
Financial Services 2006 - 2008
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• Nightlife campaigns• College marketing• Grassroots campaigns• Mall marketing• Guerilla marketing• Sports / entertainment sponsorships• Road shows & mobile marketing• Conferences & seminars• Trade shows
ROI of External Events Financial Services 2006 - 2008
Question: What external events provide the greatest ROI?
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ROI of External Events
25%
5%
39%
17%
1%
2%
1%
1%
18%
14%
24%
31%
6%
3%
11%
5%
32%
31%
5%
0% 10% 20% 30% 40% 50%
Nightlife campaigns
College marketing
Grassroots campaigns
Mall marketing
Guerilla marketing
Sports / entertainment sponsorships
Road shows & mobile marketing
Conferences & seminars
Trade shows
200820072006
Financial Services 2006 - 2008
Question: What external events provide the greatest ROI?
Key Take-away: Since 2005, trade shows and conferences have been considered to provide the greatest ROI among external events.
63
• Analyst / investor relations• Employee events (social or business)• Sales or marketing meetings• Education/training
Question: What internal events provide the greatest ROI?
ROI of Internal Events Financial Services 2006 - 2008
64
ROI of Internal Events
11%
10%
22%
54%
6%
13%
33%
46%
3%
22%
31%
39%
0% 10% 20% 30% 40% 50% 60%
Analyst / investorrelations
Employee events(social or business)
Sales or marketingmeetings
Education/training
2008
2007
2006
Financial Services 2006 - 2008
Question: What internal events provide the greatest ROI?
Key Take-away: Education/training meetings are considered to provide the highest ROI of all internal events followed by sales/marketing and employee events.
65
Procurement Influence Today
Question: To what degree does your procurement or purchasing department influence the selection of an event marketing provider?
Financial Services 2007 - 2008
66
Procurement Influence Today
9%
11%
24%
16%
40%
13%
15%
13%
8%
52%
0% 10% 20% 30% 40% 50% 60%
5 - High
4
3
2
Low - 1
20082007
Question: To what degree does your procurement or purchasing department influence the selection of an event marketing provider?
Financial Services 2007 - 2008
Key Take-away: The majority of respondents rank procurement’s influence in the selection of an event marketing provider as low.
67
Procurement Influence Tomorrow
• increasing strongly?
• increasing?
• constant?
• decreasing?
Question: Would you say the influence of procurement or purchasing in the selection of a provider is:
Financial Services 2007 - 2008
68
Procurement’s Influence Tomorrow
21%
22%
2%
10%
3%
4%
66%
64%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2007
2008
Increasing strongly
Increasing
Constant
Decreasing
Question: Would you say the influence of procurement or purchasing in the selection of a provider is:
Financial Services 2007 - 2008
Key Take-away: Most respondents expect procurement’s influence to remain constant.