Corporate event organisers are now prioritising non-event related metrics as part of event performance measurement, according to new research created by ICE.
ICE is an in-house corporate events community, and the research was produced in partnership with Cvent. It was published at Cvent Connect Europe.
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.
Research participants also 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:
– 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.
To download a full report click here.