Tag Archives: ROI

Pay-As-You-Learn

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You are likely familiar with the pay-as-you-go model of cloud computing. The idea is to charge for technology services much like utilities are billed. Users are billed for only the computing resources they use as opposed to paying a flat license fee to own and use the software or service. This model has proven to be more cost effective for organizations with inconsistent needs in terms of computing and storage power, allowing them to scale their use up or down as the work demands. Now, this same idea is making its way into the training and event space.

A survey of healthcare professionals found more than three-quarters of respondents would only participate in a meeting that could show a good return on their investment of time and money. Measuring that ROI can be tricky, but attendees across all industries tend to look to events that provide: Continue reading →

The Human Factors Leading to Higher Event Effectiveness

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From time to time GovEvents will come across information we feel our members and audience would benefit from. Here's something we wanted to share:

Empty hotel conference meeting or event room provides space for business meetings conferences speakers or events. Tables and chairs set up to view projection screen.

We all want to be actively engaged with experiences that mean something to us personally or professionally. These are the events in our lives that lead to great stories people want to hear and that make memories we cherish long after the occasion ends. Our professional events should have the same impact. Events and exhibiting are people businesses. Anything that emphasizes and appeals to each individual's humanity produces authentic engagement and deeper meaning for all involved.

GES MarketWorks asked corporate marketing leaders, brand managers and event marketers about their event objectives. Revenue, Enhanced Customer Interactions and Brand Awareness topped the charts,essentially tied with about 70% of responses. Corporate responders reveal logic that should penetrate all event strategies and planning. Several factors lead to higher event profitability and success, engagement (enhanced customer interaction), brand awareness and personalization.

Engagement

Whether you are an exhibitor or a corporate host of a company event, engagement is a major objective. Unlike other objectives, engagement provides the emotional tie that binds people. It acts as the pathway to accomplish and magnify other objective results.

Customer engagement certainly stands at the top of priorities for chief marketing officers globally. In IBM's 2016 CMO Perspective report , 66% of CMOs held "developing deeper, richer customer experiences as their top marketing priority."

Awareness

With emotional engagement, brand awareness is easier to accomplish. People believe because they are emotionally invested. Engagement and brand awareness lead to revenue because they generate an emotional bond with the brand. As Ben Franklin said, "Tell me and I forget. Teach me and I remember. Involve me and I learn."

Events create advocacy because deep engagement builds brand loyalty and because engagement happens best in face-to-face events. When we asked responders about event characteristics that drive sales, Enhanced Customer Interaction led the way with 19% of responses, followed by Brand Awareness and Personalization, both with 15%.

Personalization

Brand awareness happens through personalization of content and interactions. Customers take it personally when you demonstrate authentic interest in their issues and interests. They feel appreciated and understood. That's deep engagement.

Deeply engaged customers demonstrate more brand loyalty, less price sensitivity, shorter resell cycles, and a greater likelihood of recommending the brand to their friends and colleagues. Those are the motivators behind Gallup's observation that deeply engaged customers provide an almost 25% "premium in terms of share of wallet, profitability, revenue and relationship growth over the average customer."

These survey respondents carry weight because 60% said they earn at least a 3-to-1 Return on Investment through their events. More than a quarter of respondents (27%) earned ROI of 5-to-1 or greater. They know, at least intuitively, what Joshua Foer, a freelance journalist and champion memory competitor said, "We remember when we pay attention. We remember when we are deeply engaged." Learn more about Event ROI

What are you changing in your events to deeply engage customers based on more personal, relevant interaction? Is event consistency driving more attendees to participate less frequently? This infographic will help guide your questions.

To read full peer insights from marketing executives, download our free Driving Event ROI guide.

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Speaking from Experience: Exhibitor Tips

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Let's do a show! If only it was that easy. Exhibiting at any event requires a good bit of planning and forethought. Of course, you need to focus on the message you'll be delivering, develop a booth and collateral that delivers that message, and possibly even create new demos (we'll have a post on that later), but there are plenty of other details that you need to pay attention to in order to make the show a success. We wanted to share some tactical tips we've learned (through success and failure) that will help you and your team get the most out of exhibiting.

  • Mark your calendar to take advantage of early bird pricing for exhibitor materials and services. It can save you some big money. Ship or bring other supplies like trash cans, power strips, and extension cords with your booth rather than renting them from the show vendor.

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Speaking From Experience: Event Attendance Tips

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In a new series here on GovEvents, we'd like to share some of the best tips and tricks we've found in navigating the world of events. From attending to exhibiting, we hope our tips (some discovered through missteps) will help you get the most out of events. In today's post, we'll focus on tips for attending events.

  • Go in with a plan - look at the agenda and exhibitor list the week before the event and take some time to plan out your time there. Block sessions you want to attend into your calendar and make notes on the booths you want to see. Make sure you build in time to check emails or grab coffee with people you meet. Doing this a week out also gives you time to confer with colleagues. If others are attending how do you best divide and conquer? If you are going alone, are there sessions or companies they'd like you to see while you are there. Jot down questions you want to make sure you get answered while there.

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Defining the Value of Face to Face Events

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As we emerge from government fiscal year-end and start planning for calendar year 2015, it is a good time to look at how to budget for (or use budget already allocated to) face-to-face events. Whether you are planning events or looking to attend, the ROI of these events is critical.

Amidst reports of travel budgets being cut and general tightening of overhead budgets, there is a lot of optimism for real-time events. Earlier this year, EXHIBITOR Magazine surveyed professionals in the event industry (across all sectors, not just government). Overall, the survey found that 77% said trade show budgets had increased or stayed the same over the past year. Continue reading →