If you want to measure the impact of an event on the marketing and progress of your business, then it is important to concentrate on event ROI measurements. After all, 25% of a company’s budget today is spent on event ROI measurements. That is because the sales that you obtain at an event drive leads for your business.
Why ROI Marketing Is Important to B2B Sales
However, not all leads are the same. That is why you need to understand why ROI marketing is important to B2B event sales. According to research, about 15% of B2B marketing budgets were set aside for trade show events in 2015. As a result, many event marketers are now looking for ways to use metrics to assess sales data and leads.
How Data Was Once Collected
Formerly, marketers and salespeople concentrated on information that was compiled before and after a trade show event. However, this type of data provided a clue as to who attended the function but did not offer anything more.
The Importance of Measurements
So, if you want to expand on your marketing ROI at a business-to-business event, you need to make sure you have an event ROI tool in place – a tool that can help you assess where you stand with respect to social influence, mobile apps, surveying, and targeted messaging. So, stop leaning on the idea of brand awareness alone. Instead, use some ROI strategy in order to realise optimum returns on your marketing and event efforts.
Define Your Goals
In order to make the most of an event tool for ROI then, you need to define your goals. These goals may include increasing your company’s brand and influence, enhancing your sales returns, and promoting product knowledge. Other objectives should include generating leads, educating customers, and increasing your media and press coverage. Another purpose of including marketing ROI in your business goals is to increase traffic to your website and develop the interests of brand ambassadors and influencers alike.
What a Measuring Tool Can Do
A measuring tool for ROI then should measure the number of attendees as well as the number of leads, qualified opportunities for business, registrations, sales, social likes or mentions, and e-mail clicks and opens. To employ ROI measurements for marketing purposes, you also need to figure out how you are going to measure the information you receive. For example, you need to figure out how you are going to obtain accurate data. Some of the ways this can be done is through analytic tools, CRMs, social platforms, and surveys. However, to streamline the process, you need to use contemporary technology and tools. This will make the whole process easier and more interesting.
By using a single tool and platform for this purpose, you can better manage your app stack. That means taking a baseline type measurement for each metric that is measured. For instance, if you measure social media engagement, you should know your engagement number for non-event periods as well. Also, make sure that your employees know your goals and what you want to measure. By taking this approach, everyone will be on the same page with respect to marketing goals and objectives. So, start measuring your event ROI now. Make it your first priority as an event participant and host.