Lead Generation in Events: Breaking Down the Main Funnels
Beyond sales, lead generation brings marketing benefits and ROI impacts
Lead generation is in the lifeblood of successful events, propelling businesses towards increased sales and higher ROI. It functions as the driving force that elevates sales figures and an augmented return on investment (ROI). The significance of lead generation within the context of events can hardly be overstated, considering the unique opportunity it furnishes exhibitors with — the chance to forge connections with prospective customers.
However, the journey doesn't end with merely garnering leads; it extends to the art of measuring the triumph of these lead generation strategies. In this article, we unravel the metrics that weave the story of lead generation success, ultimately assisting exhibitors in their quest for event success.
Digging Into the Different Level of Lead Generation Funnels
To comprehensively evaluate lead generation success in events, it's essential to dissect the process into distinct funnels that correspond to different facets of the exhibiting companies. These three crucial funnels — marketing, sales, and finance — encapsulate the multifaceted impact of lead generation.
Marketing: Elevating Brand Presence and Awareness
According to the Content Marketing Institute research, around 67% of B2B marketers agreed that lead generation exerts a significant influence on a company's marketing efforts, acting as a catalyst for brand visibility and resonance. Exhibitors can gauge their success through metrics like Marketing Qualified Leads (MQLs), indicating prospects that align with their target audience.
- Optimizing brand awareness
Events provide a canvas for brand awareness initiatives to filter their potential customers. Sponsors' banners, strategically placed across the venue, amplify brand exposure. Sponsorship collaborations can also be manifested digitally through in-app banners, sponsored sessions, to a designated menu for promotional purposes. By tracking footfall at their space in the event, exhibitors can gain insights into the effectiveness of these marketing endeavors.
Moreover, exhibitors can leverage sponsored sessions to showcase their expertise, further solidifying their credibility and fostering meaningful engagement with potential clients.
- Enrichment of the MQL’s pipeline
Following the increase of brand awareness, generating leads comes in as the next step of the game.. Exhibitors can effectively assess their lead generation performance through metrics like Marketing Qualified Leads (MQLs).. MQLs are paramount for marketing efforts as they provide a starting point of contact with potential customers who have already shown interest in the brand or its offerings. This not only about capturing a lead in the marketing database but also increases the likelihood of successful conversions through future campaigns.
MQLs are captured during an event primarily through lead scanning. This approach is particularly effective because it doesn't rely on cold outreach; rather, it leverages the attendees' existing engagement with the event and your brand — this is why they are making a stop at a booth! — making it more likely that they will be receptive to further communication.
Sales: Nurturing Relationships and Facilitating Transactions
Lead generation efforts in events contribute significantly to the success of the sales funnel. Exhibitors can gauge their effectiveness by assessing the quantity and quality of Sales Qualified Leads (SQLs) generated. Event matchmaking tools, facilitated meetings programs, and personalized meet-and-greet sessions play a pivotal role in striking meaningful conversations with potential customers.
These mechanisms not only enhance the likelihood of successful conversions but also expedite the sales process by providing a targeted and efficient approach.
Finance: Demonstrating ROI and Cost Optimization
Participating in events often demands a notable financial commitment, underscoring the significance of demonstrating tangible returns. Measuring the success of lead generation entails establishing a direct link between these efforts and Return on Investment (ROI).
Exhibitors can effectively quantify their ROI by analyzing engagement data, offering a clear picture of the value generated through leads that transition into actual customers with the right purchasing power.
Of course, finance is not only about ROI, but also about cost savings. Exhibitors are always on a look out to reduce cost of their participation in an event hence if an organizer can genuinely demonstrate that they are keeping the cost under control through strategic partnerships for logistics and leveraging services from official stand builders can lead to substantial cost reductions, it may give you an edge over other competitors.
These steps collectively help to amplify an exhibitor's financial gains from the event, reinforcing the notion that while event participation may entail higher costs than other channels, the effectiveness of lead generation justifies the investment.
Crafting Your Custom Metrics and KPIs with Jublia
Lead generation measurement is an important layer of an event’s success. However, it’s equally crucial to acknowledge that each business might call for different metrics and KPIs to accurately measure the effectiveness of their event participation based on their interests across Marketing, Sales and Finance.
Jublia provides a range of digital tools to fulfill differing interests. These include Jublia Scan — the AI-powered lead scanner that streamlines the process and Match 360 as the end-to-end matchmaking modules. This is complemented by a comprehensive data ecosystem that allows exhibitors to analyze, validate, qualify, and streamline follow-ups and post-event reviews. All of this is conveniently accessible through the event hub, powered by Jublia Engagement Hub.