Event Management Companies in the Philippines Events ROI Effects on BrandFriday, March 24, 2017
To make money you need money.
This is a powerful truth that marketers must face. Gone are the days that you as marketers are allowed to spend and not know how to determine the ROI of your spending.
The management team of the company demands the marketing department and the leaders of the department to show the marketing ROI of their marketing activities.
Event Management Companies in the Philippines must put this into their hearts as one of reasons why they are being hired in most cases.
According to Kissmetrics, “Events drive leads for sales and are a powerful networking tool that enables companies and brands to connect with their audiences and clients face to face”.
This belief is truth to many event management companies in the Philippines that are servicing different industries.
Companies know that events will drive sales because of the powerful networking and engagement nature of events.
Having said this, what metrics do you use in measuring the ROI of the events.
Here are some of the metrics that you can use that have ROI effects coming from events to the BRAND.
Net Promoter Score (NPS)
NPS is one of the metrics you can use as to how the target market appreciates your event.
NPS measures the number of new brand evangelists that will spread the word on how good and useful your products are because of the experience that they have during your event.
Number of Leads Generated
Not all leads are created equal. There are some leads that will give you bigger and better sales opportunity.
Branded events allow you to generate those leads making events powerful and a tool that produce faster results.
Number of Sales Conversion/Transactions
At the end of the day or given period, ROI is about sales and is determined by the number of sales converted or sales transactions processed.
Events ensure that this important metrics happen. But only if the marketing, brand and event managers are clear that this is the event objective of joining or having a particular event.
In summary, NPS, Number of Sales Lead Generated and Number of Sales Conversions/Transactions are ROI effects of events to brands. The very reason why events are powerful and one of the best tools that marketing department must use in their marketing warfare.