Measurable Events, Better ROI

It’s 2018, and you’re still measuring media exposure for event ROI only?

Chances are you do.

According to the research conducted by Marketing Profs, 70% of marketers say that the most common metric to judge event ROI is the amount of media exposure generated.

What’s more, while events occupy the largest share of marketing budget among dominant B2B marketing channels, rarely event marketers measure the ROI based on sales generated. Only a little above one-third of marketers use sales metrics (new referrals, quality of leads, deal closure, the value of sales, and cross-sell/upsell opportunities) to measure event ROI.

This situation is alarming given that today in 2018, data-driven marketing is no more a buzzword but real bread and butter. Leaving the largest share of your marketing mix unmeasured creates a black hole in your ROI calculation. You’d never how your marketing program is contributing to the business growth.

The Call-to-Action for you is straightforward:

Measure Your Events, Or You’re Throwing Piles of Cash into Campfire for Miracles.

Events occupy 14% of budgets, the largest share of B2B marketers’ budgets, but 60% of marketers don’t use tools to measure event ROI. (Reference: HubSpot, Forrester Research)

Map attendee experience to the omnichannel customer journey

Measuring your events deeper does not just give clarity to understanding your ROI. It also levels up your omnichannel marketing.

If you are not familiar with the term omnichannel, or just want to refresh yourself, here is the definition: it is a way to let us understand the experience through the eyes of your customer, orchestrating the customer experience across all channels so that it is seamless, integrated and consistent.

For a long time, we marketers do not have such capability to view across channels seamlessly. The development of software in recent years, however, enables us to have this visibility with low-cost integrations.

By measuring events and compare with other channels, you connect the dots. You know which events are driving demands, and what engagement or content converts.

Then you invest your budget wisely. Double down on what works. Repurpose the content that works at events to other channels.

Digitalize your event workflows for ROI measurement

And how Alibaba.com nails it

To make your events measurable, digitalizing your event workflow is the very first, critical step.

Event Management System (EMS) is a platform that enables you to gather digital data of attendees throughout the full cycle at events. From registration, attendance, to engagement. You can collect attendee footprints via various digital channels (email, website, IoT, mobile apps).

You could then understand the attendee profiles, the sentiment and the engagement at events.

Then, integrate EMS with other marketing systems such as marketing automation and CRM. It gives you a clear picture of the results generated from events move along the buyer journey.

This is exactly how Alibaba.com nails the process of measuring event ROI. Famous of driving decision based on insightful data, Alibaba.com digitalize the whole process of event planning. What’s more, all the attendees are cross-compared with CRM to track which sales events converts the best B2B clients.

“Using an EMS let Alibaba.com understand the effectiveness of event channels with actionable data insights.”
Rick Ng
Busines Director
Alibaba Limited Hong Kong