When it comes to event marketing, small businesses often struggle with selecting the right events to attend due to the sheer number of options available. The decision can be further complicated by the fact that attending business events can be a significant financial investment, adding to the pressure of making the right choice. With so many events to choose from and the cost factor to consider, it’s crucial for small businesses to have a clear strategy in place to ensure they are investing their time and resources wisely.
You need to choose wisely, here’s a few tips:
Define your goals
It’s essential to know what you want to achieve. Are you looking to build connections, learn new skills, or stay updated on the latest industry trends? Once you have a clear idea of what you’re looking for, it will be easier to identify the events that help achieve your goals.
Research the event
Once you have a list of business conferences that align with your goals, it’s time to do some research. Look at the event’s website, social media accounts, and reviews from past attendees to get a sense of what to expect. If possible, reach out to the organizers or past attendees to learn more about their experience.
If you’re looking for new leads and partners, make sure there will be decision makers. Usually, event organizers post information about the audience on their website, you can also ask them to send titles of participants.
Unfortunately, industry events often attract sales people and they are rarely the ones we need. It might be a good strategy to look for events on other topics interesting to the right audience. It will not only allow you to communicate with decision makers directly, but it also reduces the competition around as not many companies use these opportunities.
Check the agenda
Review the agenda to make sure that the event’s content aligns with your interests and goals. Look for sessions, workshops, or keynote speakers that you’re interested in attending. Don’t hesitate to reach out to the organizers for more information or to suggest topics or speakers that you would like to see.
Think about ROI
For a small company to send someone for a conference, especially if it’s an international one, is a tough financial decision. Keep in mind all the costs: flights, hotel, compensations, tickets to the business event itself, marketing materials, we’re not even talking about expo expenses, you should add another 10-20K to that amount. How do you know it’s the right thing to spend that much money on the event?
If personal connections are a number one thing in your business (and for most B2B companies it is the case), you should have no doubts. Most likely, digital marketing won’t give you the impact that the event would. Yet, make sure you will be able to use all the different opportunities for networking.
Think about how many people you will be able to meet at the event. Assume what might be the conversion rate (most likely, it will be higher than any digital campaign can bring). Calculate about how much money you can get from these conversions and compare this number with the expenses for the event.
For example, you can meet 50 leads at the event, every 10th will convert into a client, thus, you get 5 clients from the event. Let’s assume that each client can bring you a minimum of $50,000 per project, that is $250,000 in total. Compared to $20,000 – $30,000 you should spend for an event, that’s a good deal. But if you spend more than 1/3 of your project price or lifetime value to attract a client, you should reconsider your decision about going to business events.
Evaluate the speakers
The speakers are one of the most crucial factors in determining the value of an event. Look for speakers who are experts in their field and have a track record of delivering insightful and actionable content. You can check their credentials and reputation through online research or recommendations from your colleagues.
Good speakers at the event mean you will see a good audience there, not even mentioning the knowledge you can get.
Consider speakership opportunities
As we’re talking about speakers, think about whether it is possible to send someone from your team as a speaker to the conference. This is the best way to attract the attention of the audience and show yourself as an expert in the field. If your team member is not a well known speaker, it requires additional investments from the company which could be justified (see point 3). However, as this person grows as a public figure after speaking at different events, he or she will be invited to conferences for free or the organizers will start paying for the opportunity to see this person at their conference.
This is a very good thing to do and develop for the CEO or other C-Level managers at the company.
Consider the location
The location of an event can be a crucial factor, especially if you’re traveling. Consider the accessibility, travel time, and costs associated with attending the event. Make sure that the location fits your budget and schedule.
Look for networking opportunities
It is another very important point to check. Business events offer an excellent opportunity to network and build connections. Look for events that offer structured networking sessions, interactive workshops, or social events where you can meet other attendees.
Make sure that organizers provide access to networking tools like mobile apps, because sometimes they might limit its usage to certain categories of attendees. Without having a tool to network, it might be very difficult to establish a connection. It is a rare thing that organizers do that, but it might happen.
Choosing the right business events to attend requires careful research, evaluation, and consideration of your company goals, interests, and budget. By following these tips, you can ensure that you make the most out of your event experience and achieve your goals.