10 Proven Strategies for Boosting Event ROI and Engagement
Maximizing Return on Investment (Event ROI optimization) and attendee engagement is critical for event planning solutions and field marketing success. Implementing good techniques can greatly influence your event’s result, whether you’re planning a conference, trade fair, or expo. The event industry is skyrocketing. According to Verified Market Research, the global event industry is expected to tap $2.194 trillion by 2028 with a CAGR of 13.48%. Therefore, it’s more crucial than ever to implement the right strategies to quadruple your business growth. In this thorough guide, we’ll look at 10 tried-and-true tactics that Event Planners and Field Marketers can use to boost event ROI and engagement while maintaining streamlined event management. 1. Establish Specific Objectives Begin with defining clear and quantifiable goals for your event, which is a critical step in developing effective event-planning solutions. What are your objectives? Having well-defined objectives can help drive your event planning process, whether generating leads, creating brand exposure, or driving sales. Ensure that your staff knows these goals and that their efforts align with them. Consider dividing these ambitions down into smaller, more manageable ones. For example, if lead generation is your overall objective, you might establish precise goals for the amount of leads you want to acquire during the event. With these clear criteria, you can more effectively assess your progress. 2. Understand Your Target Market Targeting the right audience and market is important. Research says that 37% of revenue is lost in just ads targeting the wrong audience. Effective event planning and Event ROI optimization begin with thoroughly understanding your target demographic. Make your event relevant to their needs and tastes by tailoring the material, activities, and networking opportunities. Consider surveying them or holding focus groups to learn more about their interests and problem issues. Personalize your experiences by segmenting your audience. […]
The Power of Real-Time Event Insights: Making Informed Decisions
Consider the last time you had to move swiftly at work. Perhaps you were debating whether to start a new marketing campaign or what pricing to charge for your goods before a significant holiday. Did you have time for real-time activity monitoring, or did you have to rely on your intuition? You most likely need data-driven insights to make an educated conclusion. This is where real-time analytics enters the picture. Real-time analytics provides access to current data, allowing you to make rapid, informed decisions. Let’s look at real-time analytics, some instances of its utilization, the advantages of employing comprehensive event analytics, and how to effectively apply evidence-based decision-making. What exactly is real-time analytics? The process of gathering, evaluating, and acting on data in real-time is called real-time analytics. This implies that you may make judgments based on information that is just seconds or minutes old rather than hours, days, or weeks old data. Real-time analytics requires three key components 1. Data This is the raw data that you’ll be studying. It may originate from various sources, such as financial trading, wearable devices, marketing campaign data, etc. 2. Analytics This is the process of transforming data into knowledge. Machine learning, statistical modeling, data visualization, and natural language processing are all examples of analytics methodologies. 3. Action Once you have obtained insights from your data, you must take action. This might be delivering a warning to a consumer, real-time replenishment of a product, or altering your marketing plan. Recognizing the Importance of Real-Time Event Insights Understanding the real-time data and insights created during an event is the first step in optimizing event ROI. These insights go beyond standard post-event reporting, allowing Event Planners and Field Marketers to take proactive measures during the event. Let’s look at the major factors that make real-time event insights […]
Winning with Event Analytics: Metrics That Matter for Success
Do you recall having assessment sessions in school when you had to provide your comments on everything? Its goal is to perform program evaluations, enhance program effectiveness, and/or guide programming choices. You need analysis to understand things better and develop and perform better in the future. Everything requires analysis. It can be as basic as making a cake and then analyzing the whole process to determine the ups and downs. Similarly, reviewing your event is critical if you are an event manager. Evaluation is often forgotten after the occurrence. However, event management offers the organization with several viewpoints. The analysis session can help event planners learn from their mistakes and better understand operational success, among other things. Benefits of tracking event metrics Measuring event performance using event metrics is critical to demonstrate the value you produce for your company via events. Here are some more advantages of recording event metrics: 1. Enhance future events Improve future event engagement to attract more guests and keep them engaged during and after your events. 2. Inform your next best course of action. They can choose the best next step by delivering thorough event metrics, including first-party data on your guests, to your marketing team and sales agents. 3. Encourage a data-driven culture. Measuring event success metrics regularly instills a data-driven approach. And if you have a completely integrated event tech stack that gathers data for you, this is straightforward. The Impact of Event Planning on ROI Successful events are methodically planned and performed; they do not happen by luck. Event planners devote substantial time and money to ensuring every element is in place, from selecting the perfect location to curating interesting material. However, measuring the event’s performance and influence on your ROI might be difficult without a deliberate approach to event planning. The […]
How to Quantify Your Event’s Success: A Guide to ROI Metrics
Event marketing is an effective strategy for companies to increase sales and interact with their target audience. As marketing budgets have grown in general, analyzing and quantifying ROI has become more important. But what exactly is event ROI? It denotes the net value an event marketer generates after deducting the cost of producing the event. Understanding how to calculate event ROI is critical to ensure the event’s efficacy and impact and to establish goals for future events. What Exactly Is Event ROI? The return on investment you see after holding an event is known as Event ROI. After putting in the time, effort, and money to put on the event, calculating your return on investment provides insight into how lucrative and stable the event was. Did you create a sense of community? Earn more money than you put in? Obtain fresh business leads? Event ROI is important since it provides unambiguous data. With data, you can make better choices, execute better events, and fulfill your objectives with pinpoint accuracy, whether soft (attendee engagement, brand awareness) or hard (dollars earned). Recognizing the Importance of Event ROI Before getting into the analytics, let’s discuss why tracking Event ROI is important. Events are more than simply get-togethers; they are also opportunities. Possibilities for connecting with prospective consumers, generating leads, showcasing goods or services, and increasing brand awareness. However, determining the true effect of these events on your organization is difficult without precise assessment. Event ROI measures how well your event met its objectives with the resources spent in its most basic form. It assists you in determining if your event planning, execution, and engagement methods were effective or need to be adjusted. The formula for calculating event ROI Learning how to calculate event ROI begins with understanding the formula. Most events are planned […]
4 Outdated Habits That May Be Ruining Your Conference ROI
In-person sales events, from trade shows to association conferences, are a truly valuable part of any organization’s sales and marketing strategy. On top of brand recognition, showcasing your product, and getting a real handle on the concerns, pain points, and wants of your audience, these events provide the one-on-one connection that is so important in building a qualified lead and, eventually, closing a sale. According to a study by The Center for Exhibition Industry Research, 79% of the attendees say that attending shows helps them decide on what products to buy. But what sounds like a surefire win can backfire for many companies who are not approaching each event with a clear, and modern strategy. While some things in sales never change, technology is greatly improving the way sales teams can move trade show leads into the sales funnel and improve their chance of conversion. By approaching things the “same old way”, you not only run the risk of fewer sales but that the time and money spent on the event itself will not prove a great investment. Are you guilty of using one of these antiquated approaches to conference exhibiting? You collect lead information manually. The business card has not quite died, but it’s certainly not the most efficient manner through which to connect with attendees. In the worst case scenario, the cards you collect could be misplaced or left behind. Even in the best situation, you have the bare minimum in terms of information, and you need to have someone manually enter that data into a CRM or other system. The result is a waste of time and lackluster lead data that does not provide any of the actually helpful information a sales rep could use to nurture the new contact. You hand out brochures. Have you ever […]
The Future of Events: Instantly Connecting Events With Your Sales Effort
A cursory glance at the sales and marketing budget of nearly any B2B organization will show that while some things have changed – line item for a Virtual Reality experience, anyone? – some things never will. Conferences, expos, and trade shows are still a vibrant part of the sales cycle, and for good reason. Despite all our love and even dependence on emerging technologies, at the end of the day, we are humans, and people like to buy from people. We know in our bones that working events works. But is it working as well as it can? These days, simply popping up a few banners and handing out pens will not cut it; not only are your reps on call to engage, they are on the hook to convert. Are you getting the ROI you want, need, and deserve? How do you know? The same old event approach is old! Historically, exhibitors had no way to really obtain quantitative insights into their show performance. Short of counting the number of business cards reps were able to collect during their time on the floor, you often could not tell if any of the connections made were qualified, actionable leads until well after you were home and unpacked. Since then we have seen the advent of lead retrieval technology and the ability for conferences to provide exhibitors with the ability to scan a badge and digitally capture a visitor to their booth as a new lead. Depending on your platform not only can you instantly have your leads added to your CRM, but you can add notes about your conversations, have your new contacts qualified quickly and consistently, or automatically enroll them in a nurture campaign. Advancements? Most certainly. But have they solved the age-old challenge of improving your conference ROI? […]
Extending Your Event: Follow Your Leads Beyond the Booth
You just had a great event, getting your company name and information in front of a lot of people. You had meaningful interactions with a number of potential clients and collected their information. Overall it felt like a successful day. Now what?!?
Taming the Beast: Your Event and Big Data
Big data got you feeling down? We totally get it. But it doesn’t have to be that way anymore. The days of not knowing what to do with your company’s data post-event are gone (hallelujah). Now, we’re speaking a different language—the intelligent use of data through real time analytics language—allowing event professionals to once and for all retire the notion that interaction has to end when an event ends.
Interactive Event Technologies: Finding the Wow Factor That Works For Your Brand
It’s hard not to be seduced by the new, particularly when it comes to technology. We here at momencio know this all too well – pretty sure every one of us is packing the latest iteration of their chosen smartphone. We are tech people, and we get it – new tech is a siren. She pulls you in with fancy features and improved speeds, and promises you’ll be able to create amazing things with merely a few taps on the touchscreen. But you do remember the story of the sirens from lit class, right? Those ocean-residing ladies pulled the sailors in and then destroyed them.
