I always ask this question of prospects and customers, knowing in the back of my mind that the answer is nebulous and difficult to answer. By nebulous and difficult I mean: the key performance metrics of their answer is strife with holes regarding economic value. I was in a meeting today and asked a Fortune 100 customer this very question regarding a series of B2B lead generation events they were producing. Here is the response I received:
1) Deviation of attendance level from previous year
2) Decrease or increase of registered attendees versus attended
3) Lead volumes of exhibiting sponsors
4) Exit surveys gauging value of session topics and overall event performance.
Now, imagine if you have P&L responsibility for the investment and faced with budget restrictions due to economic times. You are looking for the largest return on investment and this response, even if positive doesn’t raise a high level of confidence regarding “bang for your buck”.
There are articles everywhere bashing events as a marketing investment and I believe the main reason why is the failure to articulate revenue contribution. (The 10 Dumbest Things Businesses Buy) I also believe marketers are not receiving credit for their revenue contribution and companies devalue these investments.
What should you do?
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