Even in the best of times, measuring the return on investment generated by events can be challenging for marketing teams. However, due to the pandemic, the opportunity to measure event ROI became much easier for marketers. Companies should focus on metrics that have a tangible impact on event ROI, and use event management tools with CRM integration in order to connect event activity to revenue generation. Additionally, companies need to understand the impact of events on customer loyalty and expansion or upsell opportunities. Lastly, it is important to have buy-in across the organization and align on expectations.
Virtual events come "pre-digitized," and attendance is automatically logged. Session engagement can be timed and measured, and attendees' interactions are easily tracked. It is a little more complicated for in-person events, but the same level of integration is possible. Companies just need the right tools to integrate with their CRM and sales funnel management systems to enable accurate ROI analysis.
Although Zoom meetings aren't going away, there are big benefits to starting up in-person events once more. Women and new employees are at an especially high risk of developing "Zoom fatigue". By accurately measuring revenue-driven metrics, having the right event technology in place, integrating with CRM systems, and aligning on expectations, event marketers can be confident about their events' ROI and the value to their companies.
The ROI Resurgence: How a Year of Virtual Events Made Measuring ROI More Important Than Ever
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