ICE research reveals value of metrics in corporate event planning
ICE (In-house Corporate Events) has unveiled the findings of its new research at Cvent CONNECT Europe 2019 at the Intercontinental Hotel London 02.
The ICE Insights 2019 report, in conjunction with Cvent, has identified a number of key findings, including how corporate event organisers are focusing on using metrics and collecting data to better understand event trends and improve return on investment.
While recording some types of data, such as attendance and customer satisfaction, remain important to event planners, the report indicated that corporate event planners are also looking to gain insight on non-event related metrics, such as brand awareness and future behaviour.
According to the report, collecting this data will enable in-house corporate event planners to effectively demonstrate the value of events to internal stakeholders, such as the decision makers outside of their event department.
Anita Howard, founder of ICE told M&IT that this new report will also give corporate event planners the power to show stakeholders how corporate events transfer into the company’s wider picture.
“In-house planners are not seen as a strategic part of the team that are delivering marketing and sales for the organisation. They don’t get access to sales so they don’t know whether that person, as a result of going to a sponsorship activation event at the rugby, for example, has converted into a lead for the sales team.
“This report shows the value of corporate events and adds value to in-house event planning teams.”
Judy Elvey, director of marketing, Europe at Cvent, added: “The more they have that proof, the more they can go to the CEO, who perhaps doesn’t know too much about what the corporate events team are doing, and then the more likely they are to get the budget to make bigger and better events.”
The report also identified that the desires of corporate event planners, compared to what they actually get, are disparate. Nearly nine out of 10 respondents (86 per cent) said they wanted to focus on what impact the event will have on future behaviour, however, less than a quarter (22 per cent) are able to measure it.
On the same note, more than three-quarters of respondents (77 per cent) cited that measuring the impact of brand awareness after an event was important, but only 21 per cent had the tools to collect the metrics.
The research and report contribute to ICE’s wider strategy and support its goal of broadening communications within the corporate events sector and ultimately strengthening corporate planners’ ability to manage internal stakeholders.
Other key findings of the report include:
- A correlation between feeling valued within an organisation and being a proactive, responsive team.
- 64 per cent of respondents said that using technology to streamline processes and enhance data collection was a top priority.
- The report also drew a connection between the size of corporate event teams and adoption of technology. Finding that teams made of six to 10 people were more likely to adopt technology than any other size of team.
You can find the full report here.
Published Date: 17/10/2019