A recent study of EMEA CMOs found that their biggest challenge is providing event ROI (return on investment) and ROO (return on objective) for events. Marketing budgets are known to be tight. With limited funds, field marketers need to be smart about how their money is spent and aim to get the biggest bang for their buck. In order to prove an event’s value, marketing leaders should report metrics that support the organization’s overall goals. By understanding the companies’ objectives, and having clear insight into the sales cycle and process, field marketers can determine the metrics worth measuring. Here are a few to consider when reporting on your next b2b marketing event.
Registrations vs. attendees
One of the most important factors about any event is whether or not anyone shows up. Having a clear understanding of how many people are registered allows you and your team to plan accordingly. You will be able to compare against past metrics to see if your outreach strategy produced the right results. It is important to remember that your registration metric is different than your attendee metric. Registrations are those who confirm to attend, and attendees are people who actually show up. . Comparing your final registration number to your final attendee number gives insight into whether event attrition was an issue. Was there a significant difference in registration and attendee numbers? If so, was it because of a fluke like bad weather or was there an issue in your confirmation and reminder process? Knowing these numbers will empower your team to look into what worked and what didn’t and make the necessary changes to upcoming events.
Learn how to increase event registrations by contacting Banzai.
Opportunities created
Bizzabo found that 80% of marketers believe that live events are essential to their organizations success. But how do you prove it to the rest of the business? The answer is tracking. Make sure every registrant is tagged as an opportunity that was created from your b2b event. You can do this by creating a specific campaign code (within your CRM system) that is associated with your contact as they make their way through the sales process. Tagging your contacts properly will enable you to report on your registrant’s lead status, how they are impacting the sales pipeline, and whether or not they become a customer.
Was your event valuable?
Post-event surveys are crucial to understanding what worked and what didn’t at your field marketing event. Remember, it’s not just your guest’s input that matters. Everyone who played a role in the event should be surveyed and asked for their feedback. This data is a great tool for showcasing the success of your event. Below are a few key metrics to focus on when reporting the results of your survey to the business.
Attendees:
- % that found the event valuable
- % that would recommend the event to a colleague
- Speaker/content scores
Sponsors:
- % that found the event valuable
- % that would recommend the event to a colleague
- % that would sponsor again
Internal team members / attendees from your company:
- % that found the event valuable
- # of meetings held during the event
- # of meetings booked post event
There are no shortage of metrics that can be measured when it comes to your B2B event. When reporting your results to your organization, make sure to showcase the data that shows the event’s value and overall impact to the business.
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