Are you distracted by less than meaningful event metrics? Odds are good that you are. Organizational obstacles probably stand in your way, too.
According to the survey that we conducted with BtoB Magazine, companies don’t fully measure Return on Investment (ROI), and they aren’t satisfied with the measurement of their marketing channels and face-to-face events.
Overall, respondents believe “qualified show leads” and “conversion from lead to sale” are most important. Then they get distracted by “customer preference” or “post-show marketing leads.” Most respondents don’t measure the most meaningful data. In the survey, “cost per lead,” the only cost factor, placed as the eighth most important metric. This is what’s most important in determining ROI.
Organizational barriers also prevent success – poor alignment with sales and poor infrastructure or inability to access the right data inside the organization.
Are you ready to change your focus and defy the barriers in 2013?
Here are four tips based on our findings:
- Collaborate with sales and senior executives on event objectives.
- Establish a definitive timeline to count sales from your event.
- During pre-show planning collaborate with internal stakeholders to obtain access to the data required for measurement tracking which can include everything from conversion rate to total revenue from the show.
- Debrief your team post-show on the pros and cons of the event, and then implement corrections for the next event based on the data you obtained.
Above all, understand and deliver the true value of your event. It’s within your grasp.
How do you measure Event ROI?
By: Reagan Cook