This is a great article outlining new technology that allows your company to effectively measure ROI on the events that you participate in as well as events that your company produces.
One of my biggest priorities as a corporate event planer, is showing clients how to calculate ROI for events. Sometimes it is easier than others. It all just depends on the type event and the type of marketing or promotional campaign that accompanies it.
Back in the day, I loved, loved, loved Street Team and Guerrilla Marketing events for my clients. The numbers were always super impressive when I sent along my wrap up report……..”US Open of Surfing attendance- 494,000 people, 15,000 pieces of collateral distributed over 3 days, 10 person promo team, over 1.2 million impressions.”
Wow! Sounds AMAZING, right? But, what was I really pushing? Brand awareness not sales conversions. There’s a big difference. That’s not a bad thing. BUT….it is if that wasn’t my client’s objective.
When we as event planners talk about ROI for our clients, the first step that we need to take is to define the clients objectives. What are your goals for an event? That will give you a clear answer to whether the event met or exceeded ROI when we provide your wrap up report. What? Not getting a wrap up report for your events? ASK for one. Make it a requirement.
The above article shows some great new technology to help us show ROI for our clients. This ROI could be based on attendance objectives, revenue goals, direct sales conversion, or simply brand engagement. But, I strongly recommend that whether you are an event planner or a company that executes events, you understand the latest technology and where events are heading.
That’s all for now!