New Freeman Study Shows the Value of Event Marketing Data
Data is a top priority for leading corporate marketers today. Properly used, data helps marketers set strategy, secure budgets, show return on investment (ROI) and pivot as needed to become more effective.
The Freeman Data Benchmark Study, from Freeman®, in collaboration with Chief Marketer, is the result of a survey of more than 650 enterprise brand marketing executives. The report examines how brands are leveraging data across the entire marketing mix.
Survey results show that:
- 89 percent of marketers use data to make strategic decisions
- 98 percent of marketers use data to secure budgets
- More than 70 percent of marketers leverage data to impact wider marketing and business goals
Further illustrating the power of data, two-thirds of corporate marketers from large companies surveyed said they plan on increasing their dedicated spending on data and analytics in 2019.
“Data is becoming the fuel that powers the marketing mix,” said Ken Holsinger, vice president, data and analytics solutions, Freeman. “It powers the insights that drive critical decision-making at all junctions in both marketing and throughout an organization.”
For event marketers to be successful, data is a necessity. From choosing which events to exhibit at to selecting a venue or destination, data can help transform event marketing strategy and results.
The value of event-related data isn’t limited to just event marketing either. Survey respondents indicated that events provide a “wider and deeper” range of data and metrics than other channels, adding insight to wider marketing purposes and campaigns.
The study found that:
- Nearly nine out of 10 companies use event-marketing data to inform wider marketing strategies and tactical decision-making
- Approximately 70 percent of brands integrate their event data with their corporate marketing databases and CRM platforms
- More than 60 percent of companies also use their event data as part of their business intelligence and product development efforts
“For event marketers, the actionable insights derived from data analytics empower them to not only drive results, justify event and marketing budgets, and improve overall attendee quality and event experiences, but to bring those insights back to the larger marketing strategies,” said Skip Cox, SVP, research and measurement, Freeman.
Events and experiential marketing stand out as sectors for data collection, generation and influence. Smart event marketers will take advantage of this to show the value of event programs within marketing, and by extension, their own value to the organization.
“Data is a tool,” said Cox. “And if your organization is not using it, you’re missing out on reaching and exceeding your potential.”
To download your complimentary copy of The Freeman Data Benchmark Study, go here.