Most marketers (62%) report being at least somewhat satisfied with their ability to measure the return on investment (ROI) of sponsorship and event marketing initiatives, according to a recent report from the Association of National Advertisers.
However, nearly a quarter (23%) say they are not very satisfied with their ability to measure ROI, and 15% percent say they are not at all satisfied.
Similarly, most marketers (68%) report being at least somewhat satisfied with their ability to measure the return on objectives (ROO) of sponsorship and event marketing initiatives, but a substantial percentage (32%) are dissatisfied.
Below, additional key findings from the report, which was based on data from a survey of 78 client-side marketers from companies involved in sponsorship or event marketing, or both. Sponsorship was defined in the survey as "a fee paid to a property (typically sports, entertainment, nonprofit event, or organization) in return for access to the exploitable commercial potential" and event marketing was defined as "the use of a live experience to create active engagements between a brand and its constituents."
- Less than half of marketers have a standardized process for sponsorship/event marketing measurement.
- 25% do not gather, analyze, and use data in sponsorship/event marketing decision-making.
- Only half attempt to isolate the impact for sponsorship/event activity versus other concurrent marketing initiatives.
- 60% of respondents now have a dedicated budget for sponsorship/event marketing measurement, up from 40% in 2010.
- 70% say the need to validate results from sponsorship/event marketing initiatives has increased in the past two years.
The most common metrics used to measure ROI and ROO of sponsorship/event marketing initiatives are the amount of media exposure generated (used by 70% of respondents) and social media buzz (also 70%).
Marketers say the most valuable metrics for measuring the effectiveness of sponsorship/event marketing initiatives are product/service sales (86%), amount of media exposure generated (85%), and increased brand awareness (84%).
About the research: The report was based on data from an online survey of 78 client-side marketers from companies involved in sponsorship and/or event marketing initiatives. The survey was conducted in May and June 2013.
Continue reading "How Marketers Measure the Effectiveness of Sponsorship and Event Initiatives" ... Read the full article
Subscribe today...it's free!
MarketingProfs provides thousands of marketing resources, entirely free!
Simply subscribe to our newsletter and get instant access to how-to articles, guides, webinars and more for nada, nothing, zip, zilch, on the house...delivered right to your inbox! MarketingProfs is the largest marketing community in the world, and we are here to help you be a better marketer.
You may like these other MarketingProfs articles related to Metrics & ROI:
- Three Activities to Prioritize for Maximum Marketing ROI in 2021
- The Biggest Benefits of Marketing Revenue Attribution
- Advanced Measurement Strategies: Metrics That Actually Matter
- Six Key Metrics for Measuring Online Event Success [Infographic]
- How to Improve Marketing Attribution Without Burdening Your Sales Team