By: Godfrey Team
Events require a large portion of B2B budgets, but determining ROI is often overlooked in the planning process.
Clearly defining what the objectives are before the event takes place is vital in determining if the goals were met at the outset of a project. This seems logical, but it is often disregarded. Creating a benchmark will help prove the ROI to senior leadership, as well as give you guidance regarding the next event (if it’s an annual / recurring event). A key question to ask is: What are the goals of the program? From there, defining objectives is easier.
By understanding the various metrics available, you can choose the appropriate ones to measure depending on your objectives. Potential metrics include:
Measuring the success of an event should occur soon after the event ends, but should not stop after these statistics are gathered.
This is essential in B2B marketing because events like distributor and market trade shows, grand openings, awards ceremonies and webinars are often the only time you’ll receive your attendees’ full attention. Time and attention is precious, so don’t allow events to pass by without gaining useful information from your participants to provide ROI for the effort.
None of this is rocket science, but it IS important. If timing and workflow has not allowed you to implement the above to date, try some of these tactics during your next social gathering at home! I’m sure the after-party water cooler talk will be more than enough to encourage your marketing team to elevate their measurement strategies.