The Event Marketing Institute's 2014 EventTrack study confirmed what we exhibit and event marketers have intuitively known all along—event and experiential marketing is now the most effective way for marketers to connect with their audiences. Sponsored by Mosaic, the report includes the results of three separate surveys—one to brand marketers, one to agencies and one to consumers.
Over 600 major corporations responded to the brand survey. Key findings include:
- 79% of companies participate in events to increase sales, 78% to increase/create brand awareness, 59% to launch new products, 52% to enhance product knowledge & understanding, and 51% to influence deeper customer involvement.
- Brand marketers expect their annual budgets to increase by over 5% in 2014.
- 78% of brands are measuring their event and experiential programs in 2014—an increase of 7% versus 2013.
At the other end of the spectrum:
- 74% of consumers surveyed reported having a more positive opinion about the company, brand, product, or service after event participation.
- 93% said live events help them understand products or services better than TV commercials.
- 96% said when it was a product they were interested in, participating in the event made them more inclined to purchase.
Overall, the survey provides a rosy outlook for our industry's future. It is also is a valuable tool that exhibit managers whose brands haven't fully embraced the power of events can leverage to motivate management to get onboard.
Download the EventTrack 2014 executive summary at http://www.eventmarketing.com/eventtrack2014.
