The Professional Convention Management Association’s (PCMA) Digital Experience Institute (DEI) is committed to educating organizations on the value of digital events. It exposes the business events industry to the power of digital events and helps its members recognize the role live streaming can play in their organizations. Despite the fits and starts of digital event adoption, the group has worked over the past five years to develop comprehensive ROI metrics reports.
The data PCMA collected contributed to a number of discoveries:
- A complementary (live and digital) event strategy worked to fill PCMA’s prospect/customer pipeline.
- The association’s global presence grew by providing a low-risk entry point to participation with PCMA
- Digital events complement and do not cannibalize live events
- Digital events are a long-term strategy with the ability to impact an organization’s engagement strategy
In addition to the research PCMA undertook, it revealed that hybrid and rebroadcast events from 2011 to 2016 yielded 3,933 new prospects and more than $1,000,000 in incremental revenue. It provided further evidence that digital events are effective for increasing face-to-face attendance; growing membership, customers and prospects; enhancing engagement and amplifying an organization’s reach.