Analytics Could Flip Event Marketing on Its Head


The Gist

  • Event Analytics. As Super Bowl & Valentine’s campaigns approach, tighter budget scrutiny leads marketers to reassess the value of big event investments.
  • Data insights. Time forecast analysis becomes crucial for evaluating event ROI, offering a deeper dive into how such events impact customer activity over time.
  • Analytic era. The shift toward data-driven decision-making empowers marketers to navigate the complexities of event participation and optimize marketing budgets.

As the world gears up for another Super Bowl and Valentine’s Day campaigns loom, marketers are facing tighter scrutiny over their event marketing budgets than ever before, highlighting the importance of event analytics. With a plethora of options for launching campaign messages, not all brands are as enamored with big events as they once were.

If your brand is considering an event, consider analyzing your data with a time forecast to assess the campaign’s value. This approach will yield a dataset spanning various time periods, which can help determine whether the event statistically contributed to an increase in activity. Let’s take a look at event analytics. 

Marketers invest millions in high-profile events, with this year’s Super Bowl ad slots averaging $7 million. Conducting such an analysis offers insights into an event’s lasting influence, allowing managers to refine campaigns and sustain momentum.

Related Article: What Is Predictive Analytics? And How It Works

Events are the Big Tent of a High-Risk, High-Reward Customer Circus

Events with significant media coverage are often referred to as big tent events. While not all enjoy global media exposure like the Super Bowl, some hold sway within specific industries, such as the Chicago Auto Show. Despite a slight decline in influence, the Chicago Auto Show continues to be the premier event for auto manufacturers, renowned for introducing new car models mid-year. 

Marketers have traditionally favored big tent events for their broad audience reach. It was once thought that a large audience could spark customer interest and excitement, ultimately driving sales.

Huge big top red and blue circus tents surrounded by tent ropes and stakes and topped with fluttering pennants with a stormy sky in the background in piece about big tent event analytics.
Marketers have traditionally favored big tent events for their broad audience reach. on Adobe Stock Photos

Related Article: Customer Data Analytics and AI: The Smart Path

The Analytics Era

Welcome to the analytics era. Metrics now offer a more precise way to understand how impressions from various mediums — be it a digital ad on a display, an in-stream video, a podcast appearance, or an online post — are leading to registrations, subscriptions and sales.

Consumer Research

Furthermore, consumers can now research products and services on their smartphones, tablets, or computers while on the move. This not only increases the value of analytic metrics for analysis but also offers customers the option to bypass large crowds while locating the products and services they need.

Related Article: Customer Data, Analytics Top Priorities for Customer Service Leaders

Event Analytics: Reconsidering Marketing Budgets

The widespread availability of event analytics has led marketing managers to reconsider how their brands allocate marketing budgets, including the evaluation of event participation. For instance, Stellantis recently announced its decision not to display its cars at this year’s Chicago Auto Show, as it reassess its marketing strategy and questions the overall value of auto show participation on a case-by-case basis.

Related Article: What Is Customer Analytics? And Why It Matters

The Significance of Time Series Data for Big Tent Events

With the advent of more readily accessible data, time series data has emerged as the key driver in marketing strategy. Its analysis enables a review of how a digital campaign evolves over time, addressing performance questions like “Is there more engagement or less?” or “Did this event alter our level of engagement?”

Shifts in Customer Behavior

Statistical models derived from time series data can pinpoint these answers, identifying whether a shift in customer behavior is unfolding over time.

Exploring a Range of Data

You can explore a range of time-related data, such as comparing store sales with online conversion data, or examining other metrics like store returns to see if they are increasing over time.

Ensure you have ample data to pose a crucial question: Did the campaign metrics experience a significant lift that indicates a consistent trend into the new year?


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