Cvent: The Evolution of Digital Event Management in the Financial Services and FinTech Industries
Financial services and fintech companies are learning that the journey to deep customer engagement is a marathon, not a sprint, and no place is more obvious than using events as part of your marketing or mix of sale.
Banks, insurers, asset management firms, technology and investment research firms have begun to recognize and act on the need for agile, insights-based customer acquisition and retention approaches. data in event marketing. A demonstrable ROI of event budgets can instantly turn customers into loyal advocates. Organizations today demand nothing less, and understanding what can sometimes be an elusive, data-driven marketing metric is a business imperative.
These are the views of Karine CarterDirector of Corporate Marketing, Europe, at Cvent. She is a seasoned marketing veteran with over 25 years of experience in all facets of the discipline. Starting on the agency side, Carter spent her early career as a director of customer service at many large tech companies, hosting some of the biggest tech events of the day. Evolving on the client side, she spent more than 14 years at Microsoft in various roles in B2B and B2C. Recently, she returned to her roots, helping to build the corporate marketing strategy in Europe for Cvent, a meetings, events and hospitality technology provider.
The new customer mindset calls for business functions to engage and
co-creating events across traditional walls. Events are a key example of a high-potential customer engagement activity that has languished under insufficient attention. finservFintech marketing and event planning teams regularly organize events together, but these events are often marred by a lack of common goals and ineffective sharing of resources.
A recent Forest Research indicates that nearly 75% of financial industry professionals feel their ideas about budgets and goals diverge significantly from those of the event management team. Most of these decision-makers also said the events were organized in silos and lacked the collaboration that is crucial for successful outcomes.
Global meetings and events are essential for the financial sector. They serve as both product testbeds and a sales pipeline. Additionally, product tours, investor conferences, and community gatherings create face-to-face interactions and boost marketing efforts. They have the potential to generate vital business intelligence. Unfortunately, most industry events tend to be one-dimensional, or marketers fail to extract data from these interactions to generate actionable insights for conversion.
Disruptive fintech has recast the traditional business of the financial sector in its own mold. Open banking, expanded financial access, cloud adoption, and digital banking are just a few of the changes being shaped by the fintech industry. Market waves created by non-traditional fintech companies have pushed traditional financial players to accelerate the transition to technology-driven, digital-first business models. Marketing and event technologies have undergone extreme makeovers to stay relevant in the new paradigm.
But going from a passive quarterly webinar that “just ticks a box” to a full-fledged interactive online event that delivers measurable impact hasn’t been easy. About 93% of respondents to the Forrester study said their companies had hosted virtual events at some point before the pandemic, with 84% saying most of those pre-pandemic virtual events were delivered as webinars.
Covid-19 has changed all that. B2B marketers and event teams suddenly had to shift to exclusively using virtual events to deliver their content and drive engagement. Now, as the recovery continues, companies must turn events into experiential journeys for all customers. The choice of event formats must be aligned with marketing results.
Instead of using content and technology in discrete, jerky bursts, marketers, decision makers, and technology implementers need to build fluidity and flexibility into event strategy and execution. To extract maximum business value, financial institutions must approach events holistically. And events should be seen not just as tools to better understand customers, but also as markers that can help chart a company’s future roadmap.
For events of this caliber, it is essential to hone and utilize the digital natives of the workforce, create content narrative and deliver seamless end-to-end personalized experiences for internal and external customers. . These events and platforms become rich sources of metrics, leads, and conversion opportunities. A healthy ROI, in turn, helps marketers justify spending on such events. But advisory roadshows and other B2B product marketing events can quickly become a regulatory trap. Therefore, having strong compliance in place is a primary demand of these event teams. Marketers and event professionals working together will allow the sharing of skills and expertise to thrive in a post-covid world.
Prior to the pandemic, several event companies had already automated planning and registration processes in what was primarily an in-person event landscape. The rest of the process remained largely manual. For US-headquartered Cvent, the pandemic has presented a unique opportunity for the company to leverage its software-as-a-service (SaaS) model and decades of technology innovation and market expertise. industry to provide new digital solutions to support more engaging and interactive virtual events. This rapid shift to virtual events has enabled Cvent’s customers to maximize the impact of their online experiences and drive engagement with their customers and other stakeholders throughout the pandemic.
Over the past two years, Cvent has further cemented its position as a leading cloud-based enterprise event management and marketing platform; provide the technology and professional support needed to deliver exceptional in-person, virtual and hybrid experiences.
For financial institution customers, Cvent delivers tailored experiences that meet core deliverables such as service reliability, scalability, world-class data acquisition, and data security. His maxims of compliance and data privacy bode well for European customers who need to align with GDPR requirements. For Asset Management and Capital Markets clients, Cvent offers scalability to replicate recurring events through its template functionality with ease of launch and brand authenticity.
Cvent’s toolkit for event marketers in the financial industry also includes custom reports, which solve the tricky problem of measuring an event’s ROI. The intuitive user experience of augmented reality and mobile apps helps map attendees’ journeys across all touchpoints during the event and helps marketers gather actionable insights.
Cvent leverages the power of the cloud by providing easy, instant access to event data and documentation. His extensive experience in managing large events allows him to anticipate and manage clients’ need to control attendee experience and data.
A client recently saw the impact of events on lead generation and revenue attribution by using Cvent products to generate thousands of MQLs (marketing qualified leads) through the use of the appointment tool . And with Cvent’s RFID tracker and mobile app, they were able to capture live visitor check-in data and use the data to quantify revenue. Working together, Cvent enabled the client to generate relevant event metrics and prove event impact as part of their marketing arsenal.
With 20 years of experience in the global financial services industry and partnering with some of its biggest players, Cvent is in a unique position to observe and shape the role events play in today’s business environment. It also means taking some degree of responsibility when it comes to conducting business fairly and sustainably.
Virtual and hybrid events can support a more sustainable meetings and events industry, while helping to bolster quantifiable marketing results for B2B clients more traditionally accustomed to hosting large in-person gatherings only. In the new events landscape, delivering a smart mix of in-person, virtual and hybrid events can help organizations deliver more sustainable event programs while increasing reach and maximizing engagement across their entire organization. total program of events.
Today, Cvent helps tens of thousands of organizations adapt to the new business landscape and create not only memorable experiences, but measurable ones as well. By combining Cvent’s robust marketing and event management platform with metrics-driven marketers and planners, organizations will be better positioned to create unique, connected experiences that propel their business forward. .