Stop wasting time on events without measurable targets!
Businesses love events. They splash out on venues, catering, branding, and overpriced lanyards. They get their sales teams suited and booted, send them in to schmooze, and then pat themselves on the back for ‘putting themselves out there’. But let’s be honest, most of these events are nothing more than glorified social gatherings with an expensive price tag. Why? Because they have nothing to measure their success against.
Why do businesses run events?
Simple, ego and tradition. Someone in a suit once said, ‘We need to be at that trade show’ or ‘Let’s host a networking event’ and nobody challenged them. The idea of a flashy stand and branded freebies sounded too good to resist. But ask them, ‘What’s the objective?’ and you’ll get vague nonsense like ‘brand awareness’ or ‘building relationships’. That’s code for ‘We have no idea, but we’ll pretend it’s strategic.’
Here’s the reality: Events should exist for one reason: drive results. If they don’t, they’re a colossal waste of money, time, and effort.
3 ways businesses generally engage with events
Businesses typically interact with events in at least one of the following three ways:
Running their own event – This could be a conference, a networking session, or a private event designed to attract and engage prospects. If you’re doing this, you better have a clear strategy to generate sales. If it’s just a vanity project, cancel it now.
Exhibiting at someone else’s event – Whether it’s a trade show, an expo, or an industry exhibition, standing around hoping people stop at your booth isn’t a plan. What’s the lead target? How will you convert attendees into actual business? If you can’t answer that, you’re just paying for an expensive branding exercise.
Attending an event as an attendee – If you’re sending your team to a conference or networking event, what’s the goal? Are they there to actively generate leads, book meetings, and create opportunities? Or are they just ‘representing the company’ (which is code for doing nothing measurable and having a nice day out)?
No targets, no accountability
Most businesses don’t set measurable targets for events. They ‘hope’ for leads. They ‘hope’ for good conversations. They ‘hope’ it all works out. Hope is not a strategy. If you can’t define what success looks like in clear, measurable terms, you’re setting yourself up to fail.
Try asking these questions before your next event:
How many qualified leads do we need to generate to justify the spend?
How many meetings should be booked as a direct result?
How many follow-ups will convert into sales?
If you can’t answer these, then why are you running the event at all?
Events should be sales machines, not social clubs
The only reason to run an event is to increase revenue. That means:
Every interaction should have a clear next step.
Sales teams should be actively qualifying/disqualifying, not just having ‘nice chats’.
There should be a follow-up plan that is executed with military precision.
Results should be tracked and measured against the spend.
If an event doesn’t generate a tangible return, it’s just a very expensive day out for your team.
Set clear, measurable targets
If you’re running and/or attending events, do it properly. Define KPIs before you even book the venue.
Lead Generation: How many qualified leads should come from the event?
Conversions: How many should turn into paying customers?
ROI: How much revenue should the event ultimately drive?
Once the event is over, measure against these targets. If it didn’t hit them, something needs to change.
Be brutal about results
Businesses waste fortunes on events that make them ‘feel’ busy without delivering actual results. If you’re running an event without measurable targets, you’re just another company burning cash for the sake of appearances.
Make events work for you, set targets, track results, and if it doesn’t bring in revenue, make a change or stop doing it. Simple.
How can we help?
The bad news is that we can’t wave a magic wand, get people to your event, keep them engaged and deliver a great return on investment to the powers that be, but… we can give you the tools to help you make it happen.