Strategic meetings/consultations
Engaging with your attendee and then finally converting the lead into a meeting is still one of the best ways to figure out whether the participation in a trade show exhibit companies was successful or not.
Strategic meetings are directly proportional to influencing the revenue and top line.
ROI is always the priority concern too CMOs, reason event marketers are tasked with finding ways to maximise the number of meetings.
Strategic meetings undoubtedly have an influence on the revenue and top line. With ROI being a big concern to CMOs, event marketers are often tasked with finding ways to maximize the number of meetings. The number of meetings secured at events and custom exhibit design is often the fine line that dictates success or failure, because every lead brought in and every opportunity successfully converted ties back to the number of meetings scheduled.
Impacted revenue.
Several requirements are met by strategic meetings. Better trust, validation, confidence, and, most importantly, informed decision-making is made possible by them. Sales teams can shorten sales cycles and influence more revenue at shows by increasing the number of these interactions. Sales teams can accelerate deal progress and contribute more revenue by holding more strategic meetings. Accurate attribution and the setting of measurable goals for event teams are made easier by using a metric like revenue generated per meeting.
Average deal size
Number of deals closed not always define the success of the exhibit display companies or the event. Revenue targets can also be achieved by simply focusing on opportunities that facilitate larger deals, but this may or may not be the possibility all the time.
As we all know, opportunities with higher deal sizes have lower success rates and often take longer to close. Keeping an eye on the average deal size can often serve as an early indicator of the type of prospect event marketers are pursuing and can help you point them in the direction of deals that are closer to the ideal customer persona.
Utilization of resources
Because booths and meeting spaces make up two of the largest parts of the budget, meeting managers must evaluate and choose meeting spaces based on what is needed. In addition, it becomes critical for them to account for walk-ins and impromptu meetings.
Sending executives and small and medium-sized businesses to conferences is another expense that consumes a significant portion of a company’s budget in the hope of meeting potential customers, establishing relationships, and ultimately developing a trustworthy business. Sales cycles can also be shortened by having decision-makers from the C-suite present. Much depends on whether these resources are being used appropriately. In order to have the greatest impact, high-priority meetings must be included in their schedules.
In general, analysing how meeting resources are used can reveal a lot about how well the budget is being used, as well as which areas need more money and which can be done without it.
Efficiency of meetings.
Meetings can be scheduled, but turning them into opportunities is a completely different matter. One of your sales team’s most important functions, meeting effectiveness reveals which sales representatives are most successful at closing deals. Additionally, this helps you determine whether a representative should be trained or reassigned to handle a different phase of the sales cycle. It also gives you a better understanding of the representative’s strengths and weaknesses.
Meetings can be scheduled, but turning them into opportunities is another matter entirely. Which sales representative is highlighted by meeting efficiency?
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