Events are a must in marketing mix. Whether it’s webinars, lunches or conventions, events are the perfect opportunity to directly get in touch with customers, prospects and potential leads. Despite the fact that the events mainly have an “entertainment” content, you also want to measure the ROI of these. Therefore, a CRM solution is essential here.
Events, more than just a relaxing day
For many people, events are often a good moment to get away from everyday professional tasks. It’s outside the office and folks generally like to get to know other people and also find inspiration. And of course, it’s an opportunity to enjoy a nice lunch or cocktail at the end of the day. However, for you and your business, it is also the perfect time to directly communicate about your company, your product or your service. Nonetheless, it is also an investment for you, not only financially but also in terms of time spent. To find a place, compile a program, get interesting speakers, find the right caterer, send an invitation … The magic word here is: planning. Plan tasks, staff efforts and timing to achieve maximum ROI performance.
CRM as the engine for organizing your events
An event is well organized and smooth thanks to good planning. CRM is an ideal tool for this. Of course, you won’t work with the first provider you meet on the Internet, but you will ask for at least three quotes. In a CRM, projects can link all outgoing requests to received offers. In addition, the project timeline helps everyone to meet deadlines and “milestones” that can arise at critical moments.
Tracking costs can also be monitored in the CRM. As each member of the team works on the same project, everyone is aware of the status and even though tasks can be assigned individually, they still can be followed by everyone. In this way, a lack of communication can be avoided. An important aspect of the project is the preparation of the event page where guests can find the program, details about speakers and practical information. Keep this page attractive, short and powerful, with the ability to sign up immediately without having to return to the invitation.
To measure is to know
Now that the entire project has been prepared in the CRM, you are ready to send the invitation. In the CRM you can use the campaign module linked to the project. But before you send the invitation, you must have one or several clear goals in mind. What do I want to achieve with my event? New leads? To do upsell / cross-sell to existing customers? To increase brand awareness? In principle, it’s a combination of the three. ROI of an event is also knowing how to measure. Whatever the purpose is, set clear goals in advance. However, measuring only makes sense if you know what you want to measure.
Three strong indicators
Each event has its own objectives and therefore its own measurable indicators. However, for each event, three indicators can and always must be measured.
The number of registrations is a good indicator of the event popularity, the program, the speakers, etc. The faster enrollments arrive, the more you are on the right track with the event. Of course, the quality of the registrations must also be taken into account. Are they potential prospects? Or are they only existing customers? Here also, setting relevant objectives is decisive in order to determine what is qualitative.
- The actual number of people present and the « no-show » rate
Ok so now, the goal in terms of registrations has been reached or even preferably exceeded. There are always “no shows”, these are people who just do not come without letting you know. This is a waste of catering service fees and it is always a disappointment. Experience shows that you can count on a third of registrations that will be “no-show”. By keeping the list of people up-to-date, you’ll know who is present and who is not. Do not rely solely on numbers, but also on the quality of those present and absent. Were there people who bring added value to my business? Are the participants just “random” visitors present at each event? In other words: did they contribute to my goal?
The last solid indicator is to measure the level of satisfaction. A short survey associated with an NPS is an ideal follow-up. On the one hand, you measure the way participants lived the event, on the other hand, you can already measure carefully if they will come back next year and if the event will have a positive impact on your brand. Feel free to write to “no shows” and describe what they missed and ask them why they did not come.
Convert data from your event into ROI thanks to your CRM
After your event, you are sitting on a mountain of valuable data. Registrations, participants, no shows, satisfaction surveys, NPS results … And these are just the data that apply to each event. Add to this the event-specific data. These data separately in the form of different files and formats do not say much about the event. Put this in a CRM and it will be visible.
With a CRM, you can streamline your campaign, project and event data. In the campaign, you have all the guests and the actualization of those present and absent. In your project, you have the costs, via the timesheet, the time that the tasks took and therefore the personnel costs. Dynamic dashboards, such as those from Qlik Sense that use Business Intelligence, can dynamically display the ROI of your event. And not only that but also potential prospects that also appear through reports.
More than just “fun”
Events are more than just fun meetings and panels. They are part of a thoughtful and balanced marketing strategy and are part of the marketing mix. Remember that the organization of these events requires a lot of time and it is essential to set in advance clear objectives in order to be able to measure the ROI of this event later.