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Marketing Event Management is now more about Marketing than Events.
Planning a marketing event calendar for the next year is probably going to be one of the more strategic programmes for many B2B CMOs and marketing directors over the next months. Many in marketing used to see events as nice-to-have vanity driven exercises of corporate PR. Now, for most, it is an integral part of an overall customer engagement strategy.
In the era of digital marketing, marketing plans include both physical and digital events as standard in customer engagement programs; to collect market/customer insights at scale and to maintain a buyer/customer relationship over a longer period than just a buying cycle. A B2B CMO I’ve met recently talked about plans as more of a ‘media strategy’ than a marketing strategy. Furthermore, I know of several large tech vendors that already have concrete plans into 2024 for large scale, multi-media, highly branded events accommodating thousands of delegates and providing an outstanding conference, networking and banqueting experience for business partners and customers alike.
Virtual marketing events will become part of a new marketing channel, scheduled, and atomised across the whole calendar and much more numerous, impactful, and measurable than before. Savvy marketing organizations will even augment that with an on-demand microsite using something like the Netflix or BBC iPlayer metaphor for their own content.
Marketing Event Management (MEM) refers to a wide range of processes involved in the management of all customer events such as lead generation events, trade shows and conferences. MEM software solutions help enhance the quality of virtual and physical events and meetings, as well as providing enhanced management visibility for the event organizers. The applications can streamline the planning, scheduling, and overall event organization.
The global market for MEM software has moved from its previous boom economy, with businesses buying multiple MEM platforms to experiment with; to a consolidation state as companies now reduce their inventory of MEM vendor licenses to just a few strategic suppliers. Over half of the companies surveyed this year have more than 6 vendors they work with, counting all tools supporting virtual meetings, video conferencing, conferences and events, and trade shows. There has already been a significant consolidation of vendors in the past two years, with the proportion of firms with over 10 vendors reduced by two-thirds and the cohort with 6-10 vendors down 40%.
Which means that my new Vendor Selection Matrixtm research on MEM, to be published next week, is going to be more useful than ever for potential buyers of software for that process. As usual, as the report reflects the view of the market, 1500 business decision-makers reported their opinions and ratings for the MEM vendors they know. That is quite different than the standard research reports from my old colleagues (remember, I am ex- Gartner and ex-Forrester) that focus on an analyst’s rating of the product, based on briefing presentations by the vendors invited to speak with them.
Here is a list of the Top 15 vendors as selected by the 1,500 users we surveyed, based upon their rating of product, company, and service quality (listed alphabetically): BIZZABO*, CADMIUMCD*, CERTAIN*, CIRCA, CVENT*, HUBB, KALTURA*, MEETYOO*, NOTIFIED, ON24*, RAINFOCUS*, 6CONNEX*, SPLASH*, SPOTME*, and ZOOM. These vendors* are the Market Leaders as they scored over 4 out of 5 in both the Strategy and Execution categories.
Always keeping you informed! Peter O’Neill
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Martechopia exhibits event vendors
On my first business trip since years, I attended B2B Marketing’s Martechopia event in London earlier this week. As usual, it was a mix of insightful presentations and discussions by the rich team of experts that the organization is always able to collect for their events. Also, my latest Propolis research report for B2B Marketing entitled ”Riding the Wave of Martech Change” was launched at the event.
But I was even more intrigued by the sponsors that exhibited. This was traditionally a mix of a few marketing automation platform vendors, various other software vendors, plus a few agencies – typical providers that target B2B marketing executives as prospects. Well, the big names were not there but a new rising star, the Californian analytics and account engagement platform vendor, 6sense, was present in recognition of their new office in London. Spoiler alert: the day before, I had recorded a video/webinar for them about Account-Based Marketing in Europe to be published in the next weeks.
The intriguing thing was that there were THREE marketing event management (MEM) vendors with booths – I also met event attendees representing two further MEM vendors during the day. It looks like I was right in my prediction in the December 2021 Vendor Selection Matrixtm on Marketing Event Management – that investments for marketing event platforms is going to become part of the B2B marketing budget in the next years.
In their stage presentation, MEM vendor Cvent even admitted that they had totally ignored Marketing as a target buyer till now, they were only focused on event managers (who are not in marketing). That is true; when I contacted them for the MEM research last September, they declined to brief me because I (only) write for marketers. Well, now they are playing catch-up to address exactly that audience.
The other two MEM vendors displaying at Martechopia were in the Top Five in my December report: ON24 and SpotMe. My colleagues at B2B Marketing are now even using SpotMe as their event platform – I had shared my research with them last year, of course. Another spoiler: there is a webinar with ON24 and myself in the works.
My perception was that the staff at both vendors were very good about talking about marketing topics to the delegates instead of event management stuff like registration processes and ticketing. I see MEM becoming an integral part of the customer engagement lifecycle monitored and orchestrated by marketers – from initial kicking-the-tyres curiosity through to offering a Netflix-style library of videos and webinars, most of it collated out of the event calendar. As I write in the report:
- The crisis has accelerated the inevitable. Large Virtual Events are now SOP and many businesses will plan these as routine in their marketing calendars. Webinars are now an accepted marketing tool across most sectors and geographies.
- Over one half of companies used between six and ten vendors this year – most did not have a centralized procurement strategy for this topic. Expect his to change for 2022.
- Nearly three quarters of companies have serious difficulties monetizing their events efficiently. Over half have issues with supporting international audiences, managing presentation content, event registration and ticketing.
I suspect the vendors probably did not collect that many “leads” this year, but they have certainly put their stake into the ground and will be top-of-mind when the strategic MEM projects get budgeted this and next year.
Always keeping you informed! Peter
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MAP Research Nearly There
I am almost finished with my next Vendor Selection Matrixtm on Marketing Automation Platforms (MAP) – the draft is with the vendors for fact checking. Here are some highlights that will, hopefully, make you more curious about the full report.
Our method of asking business managers to name software vendor(s) they associate with a certain topic collects the list of all vendors that are currently top of mind on the practitioner side. In this case we provided a definition and asked about their “Marketing Automation Platform” and the vendor landscape discovered will surprise some people and vendor staff will see new competitors they had not yet considered. Perception is reality. Most vendors were also scored highly, a sign of a mature market, but the survey results also
make it clear that expectations from marketing executives of MAP vendors have now changed dramatically.
More and more companies are now focusing on digital marketing programs as society and business reacts to the COVID-19 crisis. In parallel, the focus of digital marketing itself is moving from the simple realization of new business leads to a more engaging and relationship model, raising questions on MAP functions now needed, questions such as: is lead management or engagement management the main function required now?
Nearly three quarters of companies are using the MAP more than previously with over half of those companies are leveraging it for more products and services than before and/or for greater market coverage. The crisis has accelerated the inevitable and the increased dependency on digital marketing has exposed weaknesses in many MAP installations. So, it is no surprise that our survey found that 83% of the companies who have a MAP are actively reassessing the suitability of their current installation. 11% are already replacing their MAP. Another 24% of the respondents know they must migrate to something new and 50% know this will be the case for them soon.
63% claim that they are not getting the promised return from their MAP (46% citing that as a BIG problem). 91% have issues integrating the MAP to other systems with, again, the share citing that issue as a BIG challenge is well over 40%.
The re-assessment wave varies across the key regions of the world with North American enterprises already well into the replacement phase. Although there are 12 market leaders, ONLY 13% of companies are satisfied with their current MAP functionality – or just 10% in North America and in Europe.
Two thirds of companies lack the time/resources to use their MAP effectively while a similar proportion complain about lack of support, or over-promising, from the vendors (40% call this is a BIG challenge).
So, watch this space at the end of this month for more data and insights.
Always keeping you informed! Peter