Here’s our last business event marketing article for 2005 – what a great year it has been! You can receive regular update e-mails letting you know when we’ve made an entry on our blog, by subscribing using the e-mail form on the right navigation bar, or one of the other methods.
Business events have an undeserved reputation for being hard to measure. In fact, business events are no less measurable than any other part of the marketing mix. All it takes is discipline and prior planning. Here are 5 key metrics that will allow you to assess the value of your investment in business events, and watch their performance year on year, and in comparison to one another and to other elements of the marketing toolkit.
Cost Per Lead
Cost per lead (CPL) is perhaps the most fundamental unit of trade show and event measurement. It is generated by dividing total program cost by the number of qualified leads generated. A few caveats are in order, however:
- Use the fully loaded program investment number as the numerator.
- Eliminate unqualified contacts from the denominator.
- Add in to the denominator the percentage of contacts that are still in the qualification and nurturing process but are expected to convert to qualified leads—in effect, the pipeline revenue generated from the event. “