Starting from the rock shows organized by the car companies, to local community events to seminars and conferences organized for higher level institutional products, the customer events are a good mechanics for lead generation.
This is perhaps one channel for lead generation, which needs to have maximum customer behavior insight. The kind of event you organize should be fitting well with the likings of your customer segment.
The customer events include product launches, entertainment events, seminars, education events, outdoor (marathons..) etc.
Customer events are not sales events, though you could be having a channel for sale, but closing a sale is generally not placed as the key focus. Apart from generating leads, the objective is to generate leads and build better brand recall and perception.
The success drivers for lead-generation through events are:
- The alignment between the target customer and events. (for example- a company in the business of young generation apparel will not be holding a seminar on parenting OR a small low-budget car manufacturer will not be holding the royal golf tournament)
- Level of follow-up with the invitees to ensure a good attendance.
- Promotion of the event.
- Ease for the customer to provide the lead (dropping of visiting cards, OR filling-up a brief form)
- Industry experts and celebrities one can get for the event.
Measures/Facts for lead-generation through Events
- Number of Event leads
- Number of Event leads converting into warm leads.
- Number Event leads converting into sale (this can be cut to further sub-stages like customer demo, price negotiations, raising purchase orders deliver)
- Lead-generation cost
KPIs-Metrics for lead generation through events
- % age of Event leads, which got converted into warm leads
- % age of Event leads, which got converted to sales.
- Event cost per lead for leads, which got converted to sales
- Event cost per lead for generating warm leads.
- Event cost for generating a lead.
- % age of leads, which were dead-leads (wrong OR non-existent telephone number, the person is not an existing customer though he/she is mentioned in your list.)
Dimensions/Attributes for Events lead-generation, around, which you can dice your measures and KPIs
- Location (with outlet being part of the location hierarchy)
- Lead value-slab (high value, medium value)
- Lead priority (high, medium, low)
- Lead Source (external database, existing customer, point of sale..)
- Event category- (for example- Exclusive store vs. non-exclusive store)
SWOT of Events Lead Generation
This is the reference list of what could be part of the SWOT of Point of Sale for lead generation. Within strengths/weaknesses- if an item is rated high, it will be strength and if it is rated low, the same item will be considered a weakness. Same rule applies on items within threats and opportunities (unless marked specifically as O OR T)
- Tie-up with Industry experts for events
- Promotion capability for the event.
- Ability to schedule events twelve months in advance.
- Diversity of topics and agenda.
- Participating in the industry events launched by the industry associations (o)
Key Management Decisions around Lead Generation through Events Marketing
- Location and schedules of the events.
- Agenda of the events.
- Experts and panelists for the events.
- Invitees for the events.