Event Return on Investment (ROI) is probably the most talked-about subject in the event sector both in the UK and the USA. Although companies are on the same page about the need for ROI proof, the biggest hurdle still is to correctly measure it.
Justifying event ROI is not as easy as it looks due to various reasons such as hybrid event complications, and the brand benefits that are not easily measurable. What if we looked at the top issues common to both the US and the UK and what could be done by the companies to solve them?
Defining Clear ROI Metrics
- UK: Companies frequently face the challenge of how to properly measure results in order to balance and even achieve their brand awareness goals.
- USA: The Return On Investment (ROI) is mostly linked to sales; however, organizations struggle to quantify the customer impact lasting over a period of time.
👉 Solution: Predefine SMART objectives for the event focusing on areas such as lead generation, brand value, or brand positioning.
Tracking Intangible Benefits
Besides sales, events also revamp a company’s brand value, loyalty, and expertise.
- In Great Britain, green footprint and being a leader in the sector are major return on investment indicators.
- In America, exposure in the press, social media reach, and influencer engagement are the three most overlooked metrics.
👉 Solution: Implementing post-event questionnaires, extracting data from social networking platforms and measuring mood can give a measure for intangible outcomes.
Data Integration Across Platforms
Data flow through event ticketing, CRM, virtual and social media platforms has made it difficult to calculate ROI with a simple report.
- One of the main problems that companies in the UK have is the lack of integration between the software that they use for events and marketing systems.
- Companies in the US are suffering from the large amount of data that they get as a result of the too many tracking sources.
👉 Solution: Utilize platforms such as Cvent, Hubilo, or Bizzabo which are compatible with CRM and marketing tools.
Hybrid Event Complexity
Hybrid events are standard these days, but the part of the ROI that goes across in-person and virtual audiences is still very difficult to figure out.
- Organizers in the UK have difficulty monitoring online engagement activities after users have logged in.
- Organizers in the USA face the problem of how to relate virtual leads to sales pipelines to make them accountable.
Solution: Employ engagement heatmaps, lead scoring, and virtual networking analytics for better measurement of hybrid ROI.
Sponsorship Value Proof
Sponsors expect a clear picture of what they will get back.
- British sponsors require cause-based ROI evidence (sustainability, thought leadership).
- American sponsors anticipate real-time dashboards with event impressions and conversions.
👉 Solution: Set KPIs with sponsors beforehand and use event technology to provide open reporting.
Post-Event Follow-Up Gaps
Most businesses do not nurture their leads after the event and hence fail to get the full ROI.
- United Kingdom: Without having a follow-up plan, leads frequently remain “cold”.
- United States: Concentrating too much on immediate sales, long-term relationship-building is overlooked.
👉 Solution: Get a hold of your audience after the event through planned (emails, exclusive offers, webinars) activities.