Event ROI: The Way It Should Be
by Robin Tinker, on Jan, 7, 2020
In-person events, conferences and trade shows are viewed as a valuable lead generation source for the manufacturing, medical device, and specialty retail industries. Nearly all marketers asked in the Event Marketing 2019 Benchmarks and Trends Report agreed that events provide a valuable opportunity to create in-person connections. And 80% of overperforming businesses plan to increase their event budgets in 2020.
Unfortunately, even though 33% of organizations spend more than 30% of their marketing budget on events, they’re not getting the bang for their buck that they’d like:
- 3 in 4 B2B professionals report that their current mix of technology and resources is ineffective, resulting in lost data around leads, spend, and revenue. (source)
- More than 50% of marketers report that the handoff of leads to sales is ineffective. (source)
- 66% of marketers say measuring ROI is their biggest challenge with events. (source)
The Problem with Events
Spending a big chunk of your marketing budget on events means you must prove impact — that is, your spending must drive business growth.
But driving event marketing ROI is complicated when you’re working across disconnected tools and event strategies.
How many times have you gone the extra mile to promote your attendance at an event, staged an amazing booth, mastered yet another badge-scanning tool, had great chats with loads of attendees, and left the show feeling like it was a huge success?
Then you wait for your spreadsheet of leads to be sent by the event host for follow-up. Once you have them, you must reformat the spreadsheet fields to sync with your CRM. And, finally, you start cleaning your inbox to catch-up on all the To-Dos that have piled up since you’ve been gone at the event.
You finally get your leads uploaded, send out a follow-up email and wait for sales to jump on these hot leads to close business you just know is there to be had. But…crickets.
There is a better, simpler way.
How to Maximize Your Event Performance
Let’s look at how Lead Capture® from Modus can answer these challenges.
How about if the above scenario looked more like this:
Your event pre-promotion is promising. You’ve managed to schedule a slew of meetings with event attendees. Your Lead Capture App is already pre-programmed to match the fields in your CRM, along with qualifying questions and lead ranking for Hot, Warm, Cold.
Because you use the same app on your smartphone or tablet at every event, operation is simple. You’re able to carry on a conversation, seamlessly demonstrate your product and scan your prospect’s badge without missing a beat. There’s never a lull in the conversation as everything works seamlessly—the way it should.
Leads are sync’d with your CRM as they’re captured and automatically routed into a nurture stream so for immediate follow-up — even while your prospect is still at the show. And your sales reps are alerted to all Hot leads as soon as the sync happens.
When you return to the office, you’re free to focus on your inbox and To-Do list because your lead capture app did the heavy lifting as the event took place.
Now, you can pull up analytics in an instant and discover how many event leads have engaged with your content, or how many have converted to paying customers. As you attend more events each year, you can compare the ROI between them to decide how best to allocate your event budget moving forward.
No longer are you sponsoring, attending or hosting events just because you’ve always done those shows. Now, you’re making strategic decisions about which events will pay off and fielding enthusiastic feedback from your sales team.
As it should be.
How Caterpillar Creates Continuous Event Success
We don’t want you to take our word for the difference the right technology can make for maximizing your event marketing goals.
The digital team at Caterpillar had been using multiple isolated tools during events, which caused all kinds of issues with lead generation and lead quality. Delays in follow-up and handoffs to sales were also not optimal.
Find out how their marketing team drove better results with Modus Lead Capture, including:
- Exceeding lead generation goals by 120% on average, across multiple events.
- Getting leads distributed to their dealers 300% faster than they had before.
Read the case study and then picture your event marketing team creating this level of performance.
Then let me know if you’d like to see Lead Capture for yourself.