93% of companies using an event-led growth strategy are meeting their revenue and/or pipeline goals.
That’s an earth-shattering statistic. It’s proof that event programs do work when they’re planned and executed in a way that’s scalable, measurable, and tied to greater business objectives.
This number is a result of a survey we conducted with over 1,200 event marketers about the state of events in 2024.
The course for this year was clear: Marketers are investing more in event programs.
But they’re not hosting events just for the sake of hosting. They’re thinking strategically about the power that event-led growth could have on their bottom line.
So, what is event-led growth, why is it on the rise, and how can you get started with event-led growth?
Splash’s Director of Experiential Marketing Camille White-Stern and Chief Marketing Officer Kate Hammitt recently sat down to explore these questions more.
Event-led growth is a go-to-market approach that leverages events as the primary channel for customer acquisition and retention.
Unlike other business strategies, event-led growth is unique in its ability to complement other go-to-market motions. For example, at Splash, we integrate event-led growth with inbound efforts through monthly educational webinars, invitation-only VIP dinners, and activations around third-party events our audience is attending. When it comes to integrating event-led growth with product-led strategies, we host a series of repeatable programs like weekly product demos, monthly build-along workshops, and quarterly product roundups. Each of these events are directly tied to our quarterly and yearly pipeline and revenue goals.
As you might have noticed, our event-led growth strategy runs on a consistent schedule of weekly, monthly, or quarterly events. This creates a revolving call-to-action for buyers and customers to engage with us and vice versa.
With the right strategy in place, events can become the primary way you connect with your audience and grow your business, too.
While the term may be newer, the concept of event-led growth existed long before this year.
Companies have strategically used events to provide authentic experiences, engage with prospects and customers, and make their brand stand out for years.
For others, the transition to an event-led growth strategy was born out of necessity.
According to Kate, “We’re all in a crunch to have efficient marketing channels. We have to prove what’s working to make sure we’re investing our dollars appropriately. Folks have taken a look at what’s accelerated pipeline, what’s driven net-new prospects, and have started to understand that events really have the ability to throw some gasoline on your pipeline and light it up.”
Kate predicts companies will continue to adopt an event-led growth motion in 2024 and beyond.
Here’s why:
When done right, events are powerful revenue generators.
Nearly 80% of survey respondents from our Outlook on Events report said events are the most effective marketing channel for their company, and 73% claimed they’re critical to their business growth.
Additionally, teams that adopted an event-led growth motion were 75% more likely than those who didn’t to see a growth rate of over 50%.
The phasing out of third-party cookies has marketing teams constantly searching for new ways to collect information about their audience. Events allow marketers to collect intel via forms and track interest across dozens of topics. It’s what makes them a highly effective channel for sourcing first-party data.
According to research from Wynter, around 58% of marketing executives rely on their community to recommend tools. This makes sense given today’s B2B buyer likes to do their own research. Events provide a space where buyers can connect with the people they trust most — their fellow peers.
As AI-generated experiences and content continue to increase, so will the value of in-person interactions. People buy from people — just look at the power of influencer marketing. Events give marketers the opportunity to meet buyers face-to-face and create authentic connections with their community.
An event-led growth motion requires the right mindset. It’s an entire company shift that puts events at the center of a business strategy.
Given this is often a drastic change, realistic expectations need to be set. Events are tough and results aren’t instant. They demand the same time, money, and resources as other marketing efforts.
In fact, Kate argues events need to be treated as their own marketing channel. If they’re not, events are often set up to fail.
If a channel doesn’t exist, here’s how Kate recommends getting it started:
The most effective event strategies are aligned with business goals and objectives. For example, if opportunity generation is a priority, create a top-of-funnel event series. If sales is struggling to close deals, invest in highly curated in-person experiences to address buying hold-ups.
Take note of what needs to happen before, during, and after an event to make it a success. Then, organize tasks for each of these categories into a reusable event template where you can assign timelines and responsibilities.
Events are just one of many touchpoints in a buyer’s journey. To maintain consistency with the rest of the journey, every event — and touchpoint in an event — needs to look, feel, and sound like the rest of your brand.
In our Outlook on Events survey, 21% of marketers said it was a challenge to report on event performance. While some success metrics are universal, most will change depending on the goal of an event. Check out this list of common event goals and the must-measure metrics for each.
Event marketers are always iterating, even when they’re running high-performing programs. It’s a constant process of testing new programs, operationalizing processes, and scaling the events that work.
The benefits of event-led growth are undeniable. Teams that invest in an event-led growth strategy are more likely to meet their company and quarterly marketing goals. Plus, they have an increased ability to directly attribute events to company revenue, proving the impact of their programs.
Companies finding the most success with event-led growth are using well-executed event strategies to gather first-hand data, build brand recognition, and foster genuine connections through personalized experiences.
