Corporate event organisers are now prioritising non-event related metrics as part of event performance measurement, according to new research created by ICE (the in-house corporate events community) in partnership with Cvent.
The report also found that seven in ten in-house corporate events organisers identify data measurement and proving return on investment (ROI) as the top challenges they are looking to address in 2020.
The research, which is published today at Cvent CONNECT Europe in collaboration with Cvent,a market-leading meetings, events, and hospitality technology provider, also showed that the ability for event organisers to measure non-event related metrics such as future behaviour, impact on brand awareness and company benchmarking, has risen up the priority list.
Research participantsalso cited a need to incorporate meetings and events into the overarching company strategy and a desire to increase communication and data-sharing between internal stakeholders.
Most events are currently analysed based on data which includes attendance and customer satisfaction, yet non-event metrics such as brand awareness and future behaviour were cited as ‘extremely important’ in helping to more effectively demonstrate the value of events to internal stakeholders. Nearly nine in ten respondents (86%) also focus on the impact of the event on future behaviour although less than a quarter (22%) are currently able to measure it. In addition, more than three quarters (77%) of respondents cited that measuring the impact on brand awareness after an event was important in proving value, but only 21 percent actually used this metric.
Other highlights of the research include:
- Research also indicated that there is a correlation between feeling valued within an organisation and being a proactive, responsive team. When asked if the event team proactively takes the lead on the events programme, nearly 80% of those who felt valued stated this was true. For those who felt undervalued, only 1 in 3 found this statement to be true.
- 64% of respondents said that using technology to streamline processes and enhance data collection was a top priority. The majority of event professionals measure attendance and feedback through registration and customer feedback tools but want new and innovative technology solutions that can help measure the true business impact of their events.
- The survey also addressed size of teams in relation to technology adoption and found that teams of 6 -10 event professionals have the highest adoption rate when compared to both larger and smaller teams.
The research and report support ICE’s wider strategy and supports its ambition to broaden communications within the corporate events sector, helping to empower corporate event planners to upwardly manage internal stakeholders.
“These findings are a real insight into the minds of event organisers and their frustration over measuring and showing the direct impact, on their brands and businesses, of the events they create,” comments Anita Howard, CEO and Founder of ICE. “It should be reassuring though that most feel the same way, and it definitely suggests an underlying need for creating new methodologies for measuring events – something we at ICE are working on over the next few months.”
“There are three main topics that we’ll be looking to develop for the community moving forward including: A deeper focus on data metrics; collaboration and stakeholder engagement; and supporting innovation with the help of technology Innovation to improve systems and processes.”
“We are seeing an increasing professionalism in the way that in-house teams are thinking about what they do, and at ICE, we want to help organisers not only demonstrate the value of what they do, but also be able to prove it to both internal and external stakeholders,” comments Howard. “This is central to what we are trying to do here at ICE – empower in-house planners to shape the conditions under which they can create the greatest success for their businesses, their attendees, and themselves.”
Judy Elvey, Director of Marketing for Cvent, said: “Demonstrating the value of events to internal stakeholders has been an ongoing challenge for many in-house corporate event planners and this research provides valuable insight into what next steps can be taken to improve data collection and measure ROI. Meetings and events play an integral part of an organisation’s success and at Cvent, we provide the tools our clients need to prove not only the value of events, but also the value of the event organiser role. It is our goal to help elevate the in-house community and help them earn their seat at the boardroom table.”
Respondents work in 10 industry sectors within the in-house corporate events industry including; Banking, Charity, Energy,Financial Services, Government, Healthcare,IT & Telecoms, Legal, Manufacturing, Media, Retail, FMCG, Other