We all know that the first thing you have to do from the initial meeting is to define the goal of your event. The answer to that question informs every decision you make after that.
But there is a lesser talked about question that your client needs to answer before you get started – what do they want their return on investment (ROI) to be for this event?
Determining your client’s ROI is about discovering why they are having the event in the first place.
Once you know this, you can strategize how to make the event a success.
Here are some possible outcomes your client might be looking for as an ROI:
– Generating revenue
– Boosting or creating new sales
– Client retention
– Employee satisfaction
– Attendee education
– New client generation
– Establishing the company as the expert and building trust
Every decision you make once you determine the goal and the client ROI, including all creative decisions, should be a touchstone leading back to the overarching message you want to convey, geared toward getting the ROI your client wants.
But not so fast! Your client is not the only one who wants an ROI from this event.
Every person in attendance wants to know this event will be time and money well spent.
How can you deliver an ROI for your attendees?
You must understand who your target audience is and what matters to them.
Start by determining the cost of appealing to an ROI that is meaningful to your attendees.
Here are some key questions to ask when considering whether your event hits the mark with them:
1. Have you provided enough value for the event to be worthwhile to them? People measure this in many ways. Time away from work or family obligations or sacrificing other opportunities that they perceive to be more lucrative are a few things to consider.
2. Have you made this an easy yes for them? Is the location convenient and easily accessible? Will your target audience be concerned with the cost of your event?
Put yourself in their shoes to answer the question they will all be asking: “Is this event the best way for me to spend my time and money?”
If the ROI you are delivering for both the client and the target audience is aligned, then you are ready to move ahead. If not, you have more work to do.
Too often corporate events become a lost opportunity because their potential is not maximized.
Instead of being seen as a great addition to a company’s overall marketing strategy, it is relegated to luxury item status, often being the first thing cut when these events are seen as unprofitable.
Staying true to your goal and knowing the target ROI for both your client and attendees before anything else, will help all of your decisions fall into place for a successful and advantageous event for everyone.