Suggestions for Improving the State of Sponsorship and Event Marketing MeasurementNovember 18, 2013
By Bill Duggan, Group EVP, ANA
Sponsorship and event marketing are growing in importance within the marketing mix. Per the new ANA survey research report, “Sponsorship and Event Marketing Measurement,” measurement of sponsorship and event marketing is improving, but there is still work to do. The middling satisfaction with the return on sponsorship and event marketing measurement is tied to sub-optimal standards and practices. Suggestions for improving the state of such measurement are outlined below.
Ask Properties to Help with Measurement
Marketers should ask all their sponsorship and event marketing properties for help with measurement, and write that requirement into contracts. It is important for properties not to just offer a menu of benefits, but to become true partners with marketers and work with them to establish, achieve, and measure business objectives.
Consider Procurement as a Resource
Companies with strong marketing procurement organizations are encouraged to engage procurement in sponsorship measurement and evaluation. Procurement often has strong process-oriented skills and could be helpful in establishing standardized processes for sponsorship and event marketing measurement and evaluation.
Consider Marketing Mix Modeling
Only half of those surveyed say that their companies’ sponsorship and/or event marketing measurements attempt to isolate the impact of that activity versus other concurrent marketing communications. More marketers should consider marketing mix modeling to help isolate the specific contribution of sponsorship and/or event marketing.
Partner with Subject Matter Experts
Leverage the expertise of specialists like IEG (www.sponsorship.com) for sponsorships and the Event Marketing Institute (www.eventmarketing.com) for events.
Test and Learn with Social Media
A key finding of this survey is the rise of social media as a valuable tool in measurement. Marketers are encouraged to use social media as a lever for sponsorship and event marketing activation as well as measurement.
Establish a Dedicated Measurement Budget
All sponsorship and event marketers should have a dedicated budget for measurement. The benchmark identified in this study, a measurement budget of 5 percent, should be considered. IEG, in fact, recommends that the measurement budget should be at least 1 percent of the amount spent on the sponsorship, while a figure closer to 5 percent would allow for more meaningful assessment of outcomes.
In conclusion, there are opportunities via properties, procurement, marketing mix modeling, subject matter experts, and social media to enhance sponsorship and event marketing measurement, and help marketers make more qualified investment decisions. In order to maximize those opportunities, a proper dedicated measurement budget is required.
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