In the present scenario, a number of organizations have recognized the immense impact that events have on top line revenue. At trade shows, marketers try and squeeze in as many constructive interactions with prospects and customers as possible and often find themselves taking longer than usual to close deals.
In our previous blog, we threw light on some of the key capabilities an event management software should have. On a parallel note, we look at the direct impacts of a meeting management software on event ROI at trade shows.
Focus on what’s important
At events, marketers have to go through the hassle of scheduling meetings through Outlook. Furthermore, keeping an eye on these meetings through Excel spreadsheets can be a strain. In a situation that calls for better time management, event marketers need to concentrate on things that matter to the true objective – maximizing returns.
A meeting management software eliminates the need to constantly refer to spreadsheets and following-up with customer emails. Instead, a built-in meeting notification feature alerts all attendees of an upcoming meeting and last minute scheduling changes. This, in turn, lets you focus on other things like preparing for customer meetings and closing deals.
Higher confirmation rate
Pre-scheduling meetings have a number of advantages. Not only does this ensure that attendees are prepared for the discussion, but ensure that a specific time has been set aside. Since attendees are kept well informed of the meeting slot, there is an increased rate of meeting confirmation. A detailed agenda moreover sets the context of the meeting and gives attendees a chance to prepare and understand the objective being addressed. And this, in turn, gives the meeting a higher rate of success.
A large percentage of meetings that happen at events involve a significantly large deal size. These meetings are, for obvious reasons more important because they directly contribute to event ROI objectives. In order to give these meetings the extra push, there is a need to ensure that the right people are present. Some meetings need a VP level presence to shorten the decision-making process and others may need SMEs to address queries of a more technical nature. With a meeting scheduling software, you can, therefore, prioritize these meetings by simply blocking calendar slots and reeling CEOs, VPs, and SMEs.
Optimizing the use of meeting spaces
Meeting spaces are among the biggest investments that companies make at events and trade shows. They typically encompass 45% of the event budget and therefore, there’s a need to optimize the use of these spaces and ensure that you can bring out the most out of the investment. The interface should show you the availability and capacity of each meeting room across the duration of the event. This should allow you to ensure that meetings only occupy spaces that they require. You should also be able to spread meetings across the days of the event and even set aside space as back-up.
At events, meetings are going to be a mix of pre-scheduled and walk-ins. About 40% of the total meetings that take place at these events are walk-ins. So there is an extra challenge of handling customers that walk into your booth and demand a sit-down. Without a meeting management software, you might find it difficult to accommodate these meetings for a variety of reasons. For example, there might be a shortage of meeting space or sales reps.
A meeting management software should be able to help you manage your resources better and handle walk-ins with ease. At any given point of time, you can view your executive calendars and ensure that your executives are free and have a meeting space to talk business.
Maximizing event ROI is the single most important objective of any B2B event. At events, sales reps may come across a number of prospects and customers. So it is important that they make them as productive as possible. They do not have a lot of time to spare and prefer meaningful conversations as opposed to superficial ones. Not only does a meeting management software significantly boosts productivity, but it improves the overall event experience.