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Determining ROI on events: Why are you operating blind?

Determining ROI on events: Why are you operating blind?

One of the biggest challenges event managers seem to have is determining the return on investment for the events they participate in. The reason for that is because they are consistently lacking one piece of crucial information. In fact, it is a piece of information that is readily available to them if they would just ask this simple question of their CEO, CFO, CMO, or owner of the company. It’s a magical question that opens up all sorts of possibilities and releases your creative energy once you have the answer. It causes all aspects of your business, and the company’s short and long-term goals to become crystal clear. So, what is this question?

 

What is the value of a new customer or client to the company? 

I am continually amazed at how many event managers from both small to medium-sized businesses, all the way up to fortune 100 companies have no idea what the value of one new customer is to their company. Now, one of the most common reasons I have discovered for this lack of information on the part of event managers is that no one ever told them the importance of the question, you can’t ask a question you don’t know you should ask.

A lot of companies view events as just another line item on their overall marketing budget, and as long as marketing is producing results, then hi-five! But, that doesn’t mean event managers and their teams don’t benefit from knowing what a customer or client is actually worth to the company. Just as the Sales team needs to know what the value of one new customer is in order to determine salaries, commissions, and bonuses, the event team needs to know this information if they want to put together an effective strategy, and/or evaluate new technologies and tools that can help them achieve their goals.

In so many cases, event teams are left to rely on the show organizer to provide them with their leads, and then it’s up to them to try and qualify them or send them onto sales to qualify and pursue. This makes it even more difficult to determine whether what you are doing at these shows is effective. But, when you know exactly what a new customer is worth, you then begin to look at your budgets differently and can make a case to those within the company who have the final say on approving your budget that investing in a more effective lead capture system will be worth it because you can justify the return on investment. Imagine no longer needing to rely on the show organizer to provide you with a lead list that is also being distributed to your competitors as well. But, because you know the value of a new customer, your ability to move your events team forward with an effective strategy for growing the company will give you the upper hand. 

As live events come back, and with the increased implementation of hybrid events, knowing exactly what you’re aiming at will make all the difference in the world when it comes to planning which events will be the most profitable for you, and creating a strategy to CRUSH IT at those events. 

We sincerely hope that this will inspire you to dig a little deeper into what each new customer actually means to your company, rather large or small, and will help you become more empowered to make impactful decisions for your team and the company as a whole.

For information about Lead liaison for your next event or marketing campaign, or to get started with Lead liaison: CLICK HERE.


Lead liaison is a multifunctional event platform that provides: Universal Lead Capture, User Customizable Gamification, Marketing Automation, CRM, Lead Management, Sales Enablement, Leader Boards, Point Rewards & e-Gift Cards, Waypoints for Sessions & Scavenger Hunts, Player Profiles, and more with over 3,000 integrations for all common CRM and Marketing Automation platforms.

To see how Lead liaison’s growing library of digital activations (games), universal lead capture, and reward-based solutions can help your company generate more leads at your trade shows, contact us today!

tracking event ROI

How to Evaluate Event ROI from Your Trade Show

How can you execute an event, spend the money, and not know what you got out of it? Let’s say you are the CEO, and someone comes to you asking for a budget for an event. You’ll likely want to know your previous event ROI so that you can make the right decision. 

Did you know that 23% of marketers can track event ROI (source)? That means 77% of marketers cannot. Yikes.

To download this infographic, click here.

Top Challenges for Tracking Event ROI

  1. Calculating Cost is Difficult – With expenses coming from every direction, it’s hard to keep up with it all. You’ve got to consider the cost of your booth space, travel and expenses of the team, sponsorships, and any other miscellaneous costs. 
  2. Deals Don’t Happen on the Show Floor – To calculate the ROI, you need to know the return you got. That’s from the deal itself. The average sales cycle in business is 102 days (source). It might be a while before you can give an accurate event ROI.
  3. Too Busy to do the Math – There is a lot to do immediately following an event; the first of which being executing the necessary follow-up. 
  4. Nobody Asks! – There is so much work leading up to an event, during an event, and after an event, that the biggest considerations are easily overlooked. 

Popular Ways to Measure Return

Here are some popular ways to measure return, in order from most helpful to least helpful. 

  • Revenue
  • # Meetings Set
  • Engagement
  • Forecasted Revenue
  • # Opportunities

After calculating success, consider these important numbers:

  • Cost of event
  • Cost per lead
  • Cost per opportunity

Software Systems Help Calculate Event ROI

Software systems help connect the dots between your campaign efforts and your end result. For example, in Salesforce.com you have a lead that starts as a contact, then onto an opportunity, then to closed/won. When that deal closes, for $10k for example, you should be able to tie that revenue back to the campaign (and more importantly, the cost of the campaign). Where did that lead come from? How did they find out about you? Having software in place that either tracks all information within one system, or having a few that integrate (communicate) with one another, can help you attribute those deals and make better decisions for your organization going forward.

Hard Event ROI vs Soft Event ROI

Don’t forget to consider both the hard ROI and the soft ROI. 

Hard ROI is more about the direct benefits to your company. This can include how many leads you were able to collect, or how many deals you were able to close. The concept of hard ROI is more about financials.

But, there’s also a Soft ROI that you shouldn’t overlook. Indirect benefits like facetime with customers, increasing awareness of your brand, and any success you had networking should all count for something when evaluating the success of an event. Just because you didn’t close a deal, it doesn’t mean that you weren’t able to familiarize the industry with your product or solution. The more they see you and hear about you, the more likely it is that they will come to you when their need arises.  

In Conclusion

Calculating event ROI can be tricky, but is an essential part of the event process. The process of calculating your event ROI will be specific to your business and your goals. There is no magic equation. What might be helpful, though, is setting yourself up to be able to easily track as much of this data as possible so that answering the question, “What was our event ROI?” is achievable. 

Choose a software solution that helps you build event campaigns, captures exactly the data you need onsite, supports immediate follow-up, and tracks ROI. Lead Liaison’s event lead management solution, GoExhibit!™, does all of this. To learn more, click here

How to Run a Webinar: Syndicate Webinar Content

How to Run a Webinar

This is the ninth and final installment in the series How to Run a Webinar.

In our most recent post in this series, we talked about pre-webinar bonding & follow-up. The last step of the process is to syndicate your content.

Syndicate Webinar Content

You’ve invested a ton of time planning and preparing for your event. Make sure you get the most out of your investment by syndicating your content. Syndication means taking the content and reformatting it to fit other mediums or marketing channels. For example, take your webinar recording and:

  • Have the video transcribed. We suggest using Upwork to hire someone to transcribe your video. It’s super affordable and worth the money!
  • Format the transcription into a white paper. Place the white paper on your website as Trackable Content in your marketing automation system and gate the content.
  • Put your video on an internet video hosting and analytics company like Wistia, embed it in your website, and gate the video.
  • Break down the white paper into smaller blog posts. Schedule the blog posts using your CMS.
  • Include the video, whitepaper, and any other related tools or documents in a downloadable “kit”, which is a fantastic lead generation strategy. Prospects are more inclined to give you their email address in exchange for lots of value.
  • Put the webinar recording in a “Resources” section on your website.

What to Expect

Attendance depends on the factors described in the beginning of this document. About 40-60% of registrants will show up for live viewings, but you can expect more registrants to trickle in and watch on demand over the next few days following your webinar.

We hope you’ve enjoyed this series. If you’ve got an idea for a series, we’d love to hear it! Comment below.

Do you want your own personal copy of the entire guide? Download the full white paper here.

Interested in a demonstration of our robust marketing automation tool?

 

How to Run a Webinar: Pre-Webinar Bonding & Follow-Up

How to Run a Webinar

This is the eight installment in the series How to Run a Webinar.

In our last post in this series, we talked about building a compelling landing page and “Thank You” page. The next step is to get comfortable with pre-webinar bonding and follow-up.

Pre Webinar Bonding

If possible, create further short pieces of content that cover any possible objections and start building more trust with registrants. This can be drip fed via email before the webinar. This content could be short videos or articles or just a nice webinar cheat sheet to download and print off before the webinar. Your marketing automation software can help you build a simple drip track for new registrants prepping them for the event.

Follow Up

Make sure to follow up with attendees and no shows once the event is over. We suggest doing so three (3) days after the event. In your follow up, include a video recording of the webinar. Put it into an email, but only include an image of the video. When clicked, the recipient should be taken to a landing page, separate from your registration page, where they can play the video. Separating your follow up page from your registration page will help you isolate statistics and get better tracking from your marketing automation system. This is especially handy for people that couldn’t attend the event as they can watch the video later at their convenience.

In the next, and final, installment of How to Run a Webinar we’ll talk about syndicating your content.

Can’t wait to get your hands on the entire guide? Download the full white paper here.

Interested in a demonstration of our robust marketing automation tool?

 

How to Run a Webinar: Building a Compelling Landing Page and Thank You Page

How to Run a Webinar

This is the seventh installment in the series How to Run a Webinar.

In our last post in this series, we talked about Promoting your webinar. The next step is to build a compelling landing page and “Thank You” page!

Build a Compelling Landing Page

Your marketing automation system should have some great tools in place to help you build a landing page and web form that’s styled and customized to fit the look and feel of your brand. Here are a few ways you can make a compelling landing page:

  • Keep your communication succinct and list out the three benefits to joining the webinar (what you’ll learn).
  • If the presenters are well known, consider putting a picture of the presenter on the page to personalize the event.
  • If you’re offering an incentive, make it clear to the user what that incentive is.
  • Keep the focus on the page, and converting the visitor. Don’t put other things like your website navigation menu or other links that could divert the user’s attention.

Build a Great “Thank You” Page

Similar to the landing page, you want the Thank You Page to be simple, with an easy way for the user to add the event to their calendar. Add a “add to calendar” button with instructions on how to add the event straight to their calendar. AddToCalendar has some neat tools to create buttons and links for this purpose. After the registration form is submitted, make sure to send a thank you email. All of this will increase your attendance rate.

In the next installment of How to Run a Webinar, we’ll talk about pre-webinar bonding.

Can’t wait to get your hands on the rest of this intuitive guide? Download the full white paper here.

Interested in a demonstration of our robust marketing automation tool?

 

How to Run a Webinar: Promote the Webinar

How to Run a Webinar

This is the sixth installment in the series How to Run a Webinar.

You’ve figured out how marketing automation can help you with the entire process. The next step is to promote your webinar!

Promote the Webinar

Don’t rely solely on emails as the gateway to webinar success! Your target database is just one of the ways you can get people to attend your webinar. Think out of the box, get help from companies in your network, and promote the event through other channels. Here are some suggestions to maximize promotion of your event:

  • Issue a Press Release at least two (2) weeks prior to the webinar. Make sure to include a link to your webinar registration landing page (more about that later!) in the Press Release. The Press Release will also give you a little SEO boost on the topic. Here are some tips from a 3rd party on how to write your press release. Here’s an example of a company doing a press release on their webinar.
  • Consider getting help from your partners to announce the webinar to their database and send prospects to the same registration page.
  • Don’t forget to invite your customers!
  • What about your partners. Don’t forget to actually invite them!
  • Hire a list broker who can send out email (through their resources) to drive contacts to the same registration page.
  • Post the webinar on social media. Your marketing automation system should offer a way to schedule posts. Spread out your posts leading up to the event.
  • Create a handful of blog posts on the topic leading up to the event.

In the next installment of How to Run a Webinar, we’ll talk about creating a landing page and “Thank You” page.

Can’t wait to get your hands on the rest of this intuitive guide? Download the full white paper here.

Interested in a demonstration of our robust marketing automation tool?

 

How to Run a Webinar: Have a Marketing Automation System in Place

How to Run a Webinar

This is the fifth installment in the series How to Run a Webinar.

You’ve defined your invitation and registration process. The next step is to consider using your marketing automation software to help you with the entire process.

A marketing automation system can help you automate your webinar and create a repeatable model to use for future webinars. Marketing automation is used to manage the Invite, Registration, and Follow Up Processes. It can also help:

  • Qualify prospects based on their participation in the event
  • Log their status (no show, registered, etc.) with the event to use for future targeting
  • Automatically create a Prospect in your database
  • Nurture Prospects that attend or do not show up for the event
  • Automatically sync leads into your CRM system, such as Salesforce.com
  • Track landing page conversion rates and email statistics
  • Keep everything in one place (folders)
  • Measure ROI of the webinar, including cost per lead

In the next installment of How to Run a Webinar, we’ll talk about how to promote your webinar.

Can’t wait to get your hands on the rest of this intuitive guide? Download the full white paper here.

Interested in a demonstration of our robust marketing automation tool?

 

Buzzwords in Marketing Automation: PPC (Pay-Per-Click)

pay-per-clickPPC (Pay-Per-Click): its meaning and how it relates to marketing automation. A part of the series Buzzwords in Marketing Automation.

Are you ready to build a marketing beast with PPC ads and marketing automation? If you think that pay-per-click (PPC) ads and marketing automation are two separate animals, you aren’t alone. Many marketers run their PPC ads and marketing automation campaigns separately, which is why they get subpar results. If you combine the two, you can create a marketing beast that not only lets you deliver qualified leads to your sales team but also allows you to maximize your ROI.

First, let’s take a closer look at PPC ads, and then, let’s go over how you can add marketing automation into the mix.

An Overview of PPC Marketing

PPC ads are ads that you pay for every time someone clicks on them. While several companies offer PPC ad opportunities, AdWords is the most popular. If you use this platform, you create an ad and then place it on the Google Search or Display Network. The ad is triggered when someone types in a keyword or visits a site that that you’re targeting. Then, if the person clicks on your ad, he or she goes to your website.

AdWords and other PPC networks have some tracking methods, but they are pretty weak. Because of that, it’s easy to get in over your head with PPC ads.

At least it was before marketing automation came to the rescue.

Marketing Automation – The Key to Running a Successful PPC Campaign

Marketing automation can do everything that AdWords and other PPC networks can’t. It can track your visitor from the moment he or she reaches your website. Then, the automation software creates a digital profile of each lead that visits your site. This allows the software to know what to do with each visitor. For example, one visitor might be ready to receive a call from a sales representative while another person might be ready to get an email about an exciting new product that you have.

This also provides a way for you to track your ROI for in a campaign. You can find out, without fail, how much your campaign is really costing you. You can also find out what your visitors expect when why come to your site after clicking on an ad.

If you’re using a PPC network on its own, you’re missing out. Don’t make the mistake of going solo. Pair your PPC campaign with marketing automation software so you can get the most out of PPC ads.

 

Bridging the Gap Between Content and ROI with Marketing Automation

Bridging the Gap Between Content and ROI with Marketing AutomationIt’s well known in the world of marketing that content provides the fuel necessary for successful marketing. That is no less true with marketing automation. Ultimately, you cannot expect a positive ROI, if you do not have a solid content strategy. Even the best marketing automation program in the world cannot resolve a lack of quality content. Determine ROI with marketing automation.

Despite the importance of content, many businesses continue to struggle with implementing quality content for their marketing automation needs, with their ROIs suffering as a result. Below, we go through several critical steps you can take to bridge the gap between your content and your return on investment.

1. Analyze your Content Plans

Quality content does not develop on its own and it does not happen by accident. In order to feed your marketing automation program quality content, you must first stop and analyze your content plans as well as what it is that your target audience actually wants to see. Of particular importance in terms of marketing automation, is mapping the customer journey and ensuring that your content plan aligns with that journey.

2. Think More in the Long Term than the Short Term

Far too often, many marketers focus more on the short term than the long term when it comes to their content development goals. In order to ensure you are making the most of content within the context of marketing automation, you need to pay attention to any gaps that might exist in the various stages of the buyer journey and ensure you create highly targeted content to address those gaps. This means you must stop thinking in the short term and think in the long term.

3. Develop a Content Development Calendar

Do you create content as it is needed or do you have content on reserve based on your objectives? The problem that many business owners encounter is that they create content only when they need it. In order to succeed with your marketing automation strategy, you need to have a solid plan in place. Creating a 12-month content plan can help you to do that.

4. Evaluate, Evaluate, Evaluate

Marketing automation can help to automate many of the processes related to your marketing campaign, but it cannot do everything for you. The same is also true for your content plan. You must take the time to analyze how you are utilizing your marketing automation system and how well your content is working for you. Make a commitment to evaluating your current systems at least once per quarter.

5. Make Improvements

Analyzing only works if you take the information from your evaluations and put it to work for you. After evaluating the data generated by your marketing automation system, determine what is working, what is not working and make changes to generate necessary improvements to boost your ROI.

Want a copy of our Marketing Content Map (MCM) document? Contact us with a brief note requesting the MCM and we’ll send it to you.

Marketing automation can drive a higher ROI. By implementing the steps listed above, you can bridge the gap between your content and your ROI. Learn more about how you can benefit from marketing automation today.

How to Build a Strong Business Case for Switching to Marketing Automation

How to Build a Strong Business Case for Switching to Marketing AutomationMarketing automation is one of the most important new practices a business needs to pursue to be competitive in the digital world, as any savvy marketing professional is already aware. However, even if an organization knows there might be a better marketing and sales process out there, it can be difficult to get an entrenched sales or marketing team to change the way they do things. Here are a few ways that you can build a strong business case for switching to marketing automation that you can pitch to your team.

Focus on the Specific Marketing Challenges your Business is Faces

When trying to figure out in what different ways your business will benefit from the implementation of marketing automation tools, first examine your current marketing and sales systems to see what their biggest weaknesses are. Download our sales and marketing alignment template to do an internal assessment of your company’s sales and marketing processes. Examine the current methods of lead generation, lead nurturing and lead scoring and see what is developing the strongest and weakest results. Look at how marketing automation can revitalize weaker processes – for example, by turning a lackluster lead nurturing program into a multi-tiered system that is intensifies as a lead demonstrates more interest in your services – and clearly communicates benefits.

Illustrate the Broader Benefits of Marketing Automation

After taking some time to examine specific areas in which marketing automation provides noticeable improvements, think about ways that marketing automation can bring broader positive benefits to your business as a whole. Marketing automation can help bring immediate improvements to things like internal communications, instantly streamlining the way that sales and marketers share information. A successful marketing automation program can also yield significant improvements to the overall organization of your business, and can help you improve structurally. Finally, marketing automation yields higher lead generation and decreases conversion time, making it simply a profitable sales and marketing tool for almost any business to take advantage of.

Use Specific Tools to Encourage the Adoption of Marketing Automation

There is a large amount of very convincing data available about the effectiveness that is at the tip of your fingers. Case studies are a wonderful way to illustrate how other similar sized companies went about implementing marketing automation, and gives direct examples of the benefits they enjoyed afterward. Have a full picture of statistics on how your current marketing tools are performing, and how they might improve with the implementation of marketing automation. And, finally, do your research. Be prepared for any questions that might come your way. If you are already getting pushback on marketing automation, you should have some idea of why it is being opposed – understand that viewpoint, and be prepared to counter it.

If you stick to these basic strategies, you should be able to develop a strong business case for switching to marketing automation. Learn more about marketing automation and how your business can benefit from it Lead Liaison’s marketing automation resource blog.