What CMOs Really Think about the Value of Events
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Transcript of What CMOs Really Think about the Value of Events
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What CMOs really think about the value of eventsJohn Ellett | CEO of nFusion & Contributor of Forbes CMO Network (@jellett)
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Mindset of CMOs
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CMOs remain under the gun to deliver measurable results.
15 Mind-Blowing Stats About Marketing ROI – CMO.com
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Objective
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C-Suite not convinced by marketing without measurement…
80% 80% 78% 74%
80% of C-levels say they don’t really
trust the work done by marketers
80% say marketers are to
disconnected from the financial
realities
78% believe marketers lose
sight of generating quantifiable
customer demand
74% want marketers to
become 100% ROI focused
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The importance of analytics will increase substantially in
the next two years.
2015 State of Analytics - Salesforce
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Where do events fit into the CMO’s agenda for growth?
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In-person events has been rated the most effective marketing tactic for the last six years.
1
58%
58%
59%
60%
61%
62%
63%
65%
66%
75%In-person Events
Webinars/Webcasts
Case Studies
White Papers
Videos
Research Reports
eNewsletters
Blogs
Infograhics
Online Presentations
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Proprie
tary E
vents
Trades
hows
Digital
Eve
nts
C-leve
l Targ
eted E
vents
Roads
hows
Other
59%54% 51%
40%
21%
5%
Proprietary Events & Tradeshows rank as the events most beneficial to their business.
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“The value of events from my perspective? If done right, (they’re) one of the best ways to engage and connect with customers!”
- Richard Honiball, CMO, NEXCON
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70% of CMOs sayevents are very or extremely valuable in facilitating revenue growth for their business.
70%
The CMO Club/Cvent Study
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Source: Forrester Research, Inc.
24%Of marketing department budget is spent on events
4,000-7,000Man-hours invested
What’s at Stake for Event Marketers?
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75% of CMOs believe face to face events are very important or critical in accelerating the sales cycle.75%
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“Relationships matter. Face-to-face events are great for engaging for the first time or re-engaging to strengthen relationships. When getting the right people together for productive business conversations, opportunities emerge.”
- Scott Anderson, CMO, Sitecore
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50% of CMOs need to see more proof of the contribution being made to their revenue goals by their events programs.
50%
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60% of CMOs say ROI is very important or critical when it comes to allocating budget to their events organization.60%
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“Truly classify events for what they are. Some are corporate branding only, others branding and thought leadership, some are lead generation specific, some are regional partner events.”
- Greg Fitzgerald, CMO, Cylance
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75% of CMOs say that understanding the overall effectiveness and provingROI are their most pressing challenges with theirevents programs.
75%
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3 Tips to help your CMO invest in events
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Connect Your Event KPIs with Your CMO’s KPIs
Revenue contribution
New leads generated
Value of pipeline created
Deal acceleration
Brand reputation
Net Promoter Score
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Align event strategy and measurements with key stakeholders
Define “success” in quantifiable terms
Assure stakeholders are involved the definition
Create pre-, during and post-event activities to achieve success
Assure stakeholder are committed and enabled to “close the loop”
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“The primary determinants of success are
A. Work with sales in advance of the event to drive effective meetings
B. Work with sales after the event to drive effective follow-up.”
- Mike Lees, CMO, Metalogix
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Make sure you are measuring what matters
Leads collected
1:1 meetings
Account influence
Content effectiveness
Closed business
Increased loyalty
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Thank YouJohn Ellett | nFusion