Event and sponsorship marketing is gaining attention as an effective way to increase visibility for advertisers. In the increasingly cluttered media environment, having a banner or logo displayed in front of people who are gathered for an event can make a difference. Marketers may be tempted to engage in more of these kinds of promotions going forward, and a new ANA study suggests that businesses will improve their attempts to measure the benefits they’re receiving from these investments.
By the time this year ends, IEG predicts marketers will have increased their sponsorship budget by 5.3% and event marketing expenditures by 4.7% when compared to 2012. About 60% of marketers actually measure the results of this activity which is a big improvement over the 40% who did so 3 years ago. Those who are measuring report mixed results about their efforts. For example, only 20% are completely satisfied with the ability to measure ROI. Marketers also measure return on objective (ROO) and about 18% are satisfied with what they’re doing on that front.
Here are the metrics that marketers pay attention to when measuring these activities:
- Media exposure generated 70%
- Social media 70%
- Brand awareness 69%
As marketers become more aware of the need to accurately measure sponsorship and event marketing results, analysts believe they’ll need a closer working relationship with their partners. About 73% of surveyed marketers indicated the importance of this relationship. This means these marketers will have to declare objectives at the outset of the business arrangement and rely on their partners to help them understand psychographics about the audience being reached.
To learn more about consumers likely to attend specific events, such as an Ethnic Festival, check out the AudienceSCAN report available on the Research Store at ad-ology.com.