Importance of Event ROI (Return on Investment)
Many marketers feel unaware calculating and measuring ROI after events. In fact, according to GES and BtoB magazine, 60% of marketers are unsatisfied with their current methods. Here is an article that will make calculating ROI a lot easier and give you a better understanding of it as well.
Find Out What Matters to You
Figure out what types of marketing will work best for you. In terms of ROI, face-to-face events and email campaigns are the most common channels for businesses that want to produce the most actionable data.
Top 5 Marketing Channels that Benefit the Most from Metrics
1. 31% Email Marketing
2. 24% Face-to-Face Events
3. 23% Website
4. 16% Direct Marketing
5. 6% Other
Count Your Costs
In a conducted survey, it was found that the number of qualified leads from a show is the most important metric. Along with that, it is important to know how much it cost to get those leads before you can find your ROI.
The Top 5 Most Reportedly Important Metrics
1. Qualified Leads from Show 32%
2. Conversion Rate 22%
3. Prospective Business 14%
4. Qualified Leads from Post-Show 6%
5. Change in Preference 6%
Integrate Your Channels
Combining your face-to-face events with email marketing and website integration is a very smart decision but only 58% of companies report to doing so. In order to magnify the performance of your event and have a better ROI calculation, it is important to integrate other marketing channels like the ones mentioned.
Top 5 Marketing Tactics to Combine with Face-to-Face Events
1. 72% Email
2. 56% Website
3. 50% Direct
4. 41% Social
5. 31% Print
Rate of Commitment Levels of Integration That Marketers Have with Face-to-Face Marketing
28% Mildly Committed
19% Not Committed
16% Somewhat Committed
15% Moderately Committed
14% Extremely Committed
8% Totally Committed
Clear hurdles early on by communicating with internal stakeholders before an event so that you can decide on objectives and see what metrics you will use. In addition, make sure to use key data mentioned in order to measure ROI more accurately.
Top 5 Significant Reported Challenges in Measuring ROI
1. Lack of Data/Support from Sales – 24%
2. Poor Data Collection/Analysis – 21%
3. Inability to Track Key Measures – 17%
4. No Follow-up on Face-to-Face Leads – 14%
5. Vague Relationship of Metrics to Performance – 13%
Event ROI can tell you how successful your campaigns are and how you received your conversions. Make sure to follow the above steps in order to make it easier for yourself to calculate ROI and predict how successful your future campaigns will be as well.