Are you managing ROI for your marketing events?

August 12th, 2013

Last summer David Cooperstein, vice president and practice leader at Forrester Research, wrote a thought-provoking article for Forbes titled, “Marketing change management - like it or not, you have to figure it out.”

One of his key points: “ROI drives budget approval. You want more budget? Prove it to the CFO.”

That’s especially true for marketing events, which are a substantial part of the marketing budget for many B2B companies. Yes, we can assume these events create goodwill for the company, build awareness of its products, and help build solid relationships. But in these times, most marketers can’t get away with using guesswork to justify an event costing tens or hundreds of thousands (or even millions) of dollars.

Management wants performance information.  They’ll look at last year’s event and ask you, “How many solid leads resulted from the event?  What was the potential sales value of those leads?  How many have closed since?  And what’s the validated ROI we’re seeing so far on that event?

Tough questions.  You’ll need data and technology to answer them.  Data must be collected before, during and after events and linked to existing CRM systems. Then, you need astute analytics to turn the data into actionable insights.

As you evaluate which outside firms can help you use multi-source data to get solid answers that drive marketing decisions, you’ll need to look beyond their sales pitches.  Cooperstein advises:

“See who answers fastest, deepest, and with the most appropriate ROI on the investment. Then make sure that firm is compatible with customer databases, internal technology decisions, and your vision of the future of your organization. Then you can tap this resource to manage marketing at an entirely new level.”

Casey Cote

Casey Cote

Casey Cote is the Chief Executive Officer for Omnience. Joining the company in 1995, Casey established its strategic direction as the industry leader in marketing event management and a technology innovator. He launched initiatives that made the company a pioneer in applying technology to the challenges of managing a large portfolio of events. Casey is also actively involved in managing customer relationships, seeking out partners and acquisitions, and directing the company’s expansion into new markets. Previously, Casey managed forecasting and budgets at Sprint.

More Posts

Post a Comment

Your email is kept private. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>