Events represent almost one quarter of the marketing budget of enterprises. According to the big engaged amounts, it seems logical that event planners are waiting for optimal return on investments. We give you all the keys for optimizing your event’s ROI in this article. For that, 3 axes are possible:
- Align stakeholders
- Compare with excess
- Use the good communications leverages
Align stakeholders for a better ROI
Assure the consistency of objectives
At Eventdrive, we consider that consistency is the key success factor of your event. Our guideline? A clear objective for everyone, in order to go in the same direction. This method permits to avoid unforecast events and deviations, and so to limitate the temporal or financial investment that would have been required to rectify them. Enough to optimize your event’s ROI!
Take the time for reminding to the whole of stakeholders objectives of your event: speakers, team, managers, suppliers, place…
Try to respond to the following questions:
- Why do we organize this event?
- What is the benefice for the company on a long and medium term?
- What is the expected ROI?
You organize an event gathering about 50 buyers? Potential suppliers would be certainly interested by proposing a service offered, in exchange of visibility and time of speak for the event’s introduction.
Think about enterprises your guests could be a potential target. This would be a true opportunity for them to propose a discount or a service offered.
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At the ROI pursuit : compare with excess
Make good choices
You are used to organize seminar of two days?
Think to condense the whole in a unique day. Thus, you will save the added hosting and the food fees. If your participants are collaborators, they will be also mobilized one day less. A first step toward an optimized ROI! Be careful not to damage your participants experience by keeping in mind the objective of this one!
You hesitate between city or countryside? The objective of your event in terms of ROI could be really helpful. According to Kactus, a meeting room renting website, you should forecast, on average, 90€ for a seminar in Paris, 70€ for a seminar in Lyon, 55€ for a seminar in countryside.
Omit no detail for avoiding additional costs
Often, your event budget is ok! However, there are still hidden costs, particularly concerning the reception place. Therefore, we have created a list of the questions to ask when you are looking for a place, in order to avoid bad surprises… Don’t worry, you are not the only one to be choked by the invoice of 400€ for the projector! 😉
Concerning intermediaries, it is all or nothing!
In a hand, by eliminating them, you cut into their margins and therefore ensure a superior ROI for your event. On the other hand, you choose an expert knowing the market rates and can bargain the quote of a place for example.
At the ROI pursuit : compare with excess
Drive a multichannel communication strategy
You know it better than anyone else, communication channels are serving each other. During the promotion of your event, connect them together to multiply your strike force, keeping an optimized ROI. Use the whole of stakeholders: if they participate to the event, they will be delighted to communicate. Incite partners to relay your communication and guests to share the fact they will attend the event.
For example, your invitation mail, your invitation card, your LinkedIn publication are redirecting toward your registration website, that proposes to discover an introduction video which is also shared on social media. Once registered through a form, the guest will be invited to download the mobile app of the event, through which he will regularly receive quotes from influential speakers.
Use social media
Social media are an efficient relay and quite cheap, which is perfect for ROI optimization. Don’t forget to create and communicate the dedicated hashtag of your event. Remind it to your attendee at the beginning of the plenary, through notifications from the app: double your creativity for the on-site communication!
To optimize your event’s ROI, each detail is important: stakeholders are free relays as well as each communication channel! At the end, it is necessary to be creative and to innovate differently. It is by the way what is supposed to be an event planner: creativity! We were talking about it in our previous article : 8 reasons to love event management.
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