An Enterprise Approach to Events Management
As businesses have scrambled to rebalance their marketing mixes to better align with consumers’ evolving expectations, events portfolios have been largely overlooked.
And, considering that companies can spend well into the hundreds of millions of dollars on events across their global enterprises, the growing effort to better coordinate events with the larger marketing push is probably overdue. After all, an events portfolio is essentially a media buy, and it deserves the same rigorous analysis.
To meet the growing demand for portfolio-level expertise and consultation, GO! EXPERIENCE DESIGN has introduced Enterprise Solutions. An events-centric consulting service, GOXD’s Enterprise Solutions works with clients to:
- optimize spend and sourcing
- increase efficiency and alignment between events properties and other marketing efforts
- improve content consistency and effectiveness
- provide better segmentation of event attendees
Transparency on event spend is the cornerstone of the overall effort, and the key to optimizing costs and maintaining an accurate understanding of return on investment.
How important is it?
Well, in one extreme case one of our events portfolio reviews revealed that a client was actually spending 40 percent more worldwide than they thought they were, simply because of inefficient payment processes and poor accounting controls.
That's a very big deal.
Not all of our portfolio reviews produce findings as dramatic as that one, of course, but they do consistently uncover inefficiencies of nearly 20 percent. And on a $200 million global events spend, that can add up to some really big bucks.