Digital drives 50% of events revenue for The Economist

Almost 50% of The Economist Group's events revenue is driven by digitally-enhanced events, according to marketing director, Jonathan Dewe.

Digital drives 50% of events revenue for The Economist Group
Digital drives 50% of events revenue for The Economist Group

Speaking at Tech Fest 2013 yesterday (18 July) at Dexter House in London, Dewe presented The Economist Group's events strategy, which was launched two years ago to look at new ways of increasing revenue for the publisher. 

Dewe said: "Two years ago, we took a step back and asked ourselves how we could use technology at events to enhance what we offer. Up to that point, we had only used novelty add-ons such as apps, Linkedin groups and Twitter walls, but they weren't having an impact on the experience of the event. 

"We set a three-year target to generate 30% of our revenue from digitally-led initiatives and we partnered with Wavecast Pro to find a long-term bespoke solution. As for the outcome of this strategy, for the last quarter, 40% to 50% of our events revenue was driven by digital initiatives.

"What is also interesting is that over that period, we set out to digitally-enhance our existing events, but we have now completely re-invented our events. The events sit in a programme of activity where they are one part of an ongoing conversation that we are having with the community. Some of our events now have three or four event interactions before and after the event."

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