81% MICE industry rely on meetings to hit goals

A new study claims that 81 per cent of event professionals believe meetings are effective to achieve their business goals.

At the same time, proving event ROI against rising competition has become more challenging than ever. One of the key ways to tackle this challenge is by benchmarking your events’ performance with others in the industry.

Cvent recently launched its Second Annual Global Event Industry Benchmarks Study that surveyed 800+ event professionals, painting a picture of a meetings and events industry that continues to innovate despite mostly static budgets.

It is then no surprise that a solid proportion of respondents cited budgeting as the most challenging aspect of their event planning and execution processes and proving return on investment (ROI) as a close second.

The study provides valuable insights into how event professionals budget, target attendees, create content, market events, enhance onsite experience, collect feedback, and measure return on investment.

Nearly 40 percent of respondents ranked creating event content and agenda as the task on which they spend the most time.

Event technology is playing a strong role in keeping attendees engaged on-site, with 37 percent of the sample using attendee messaging and networking to keep people interested.

A full 81 percent of planners, marketers, and executives believe their meetings and events are effective in driving revenue, increasing leads, building awareness, and worth the cost.

Meetings and events are clearly a critical component of an effective marketing strategy, with 36 percent of respondents spending at least 20 percent of their marketing budget on meetings and events.

Check out some more of the data here: