Event marketing is "flourishing" in the North American market and taking on a growing strategic role, according to "EventView 2008," a study released last month by MPI, George P. Johnson and the Event Marketing Institute. Among the findings of the study:
- 43 percent of respondents indicate that event marketing is taken under consideration along with other mediums, and 24 percent characterize events as a "vital component" of the marketing plan. Fifteen percent say events are a "lead tactic." 42 percent of respondents estimate the future importance of event marketing in their organizations will "increase" or "increase strongly." Seven percent expect a decrease in event marketing.
- 27 percent of the average marketing budget is spent on event marketing, a 5 percent increase over last year.
- 30 percent of the average event marketing budget is dedicated to internal events such as training; 70 percent is dedicated to external events, such as trade shows.
- 40 percent of respondents stated that sales and marketing meetings get the most budget of all internal events, followed by education or training events. Fifty-eight percent say that trade shows get the most event dollars of all external events, followed by conferences.
- Respondents who reported measurements activities are 1 ½ times more likely to expect an increase in their event marketing budget than those who do not measure.
- 34 percent of respondents plan on implementing green initiatives within the event function within the next 12 months; 50 percent are doing so as a result of a corporate responsibility mandate.
- 54 percent of respondents say they will transition from "event marketing" to "experience marketing" in the next 12 months.
- 22 percent of respondents say that the role of procurement/purchasing is increasing; 49 percent rate that role as constant.