Proving event value in today’s business climate
Technology and globalization drastically changed the way we do business. Your organization’s most important audiences – employees, customers and partners – work closely together, but often across different time zones and continents. Our virtual work relationships have improved efficiency and convenience, but they’ve come at a cost. Organizations that cut business travel – like face-to-face meetings and events– can see a reduction of 17 percent in profits during the first year, according to research from The Oxford Economics. Events with customers earn organizations up to a 1,890 percent return on their investment, the study says, while conference and trade shows earn between 300 and 500 percent ROI.
In our globalized, virtual business world, the benefits of face-to-face meetings and events are more critical than ever. Face-to-face meetings and events capture audience attention in a world full of distractions while inspiring and energizing your stakeholders to meaningful action that drives business results.
At Maritz Global Events, we’re dedicated to helping our clients prove the return on their meetings and events – highlighting event value in an environment where every investment is under the microscope. We partner with meeting planners and organizations to design events that achieve measurable objectives for guests and positively impact business goals.
Each sales meeting, customer event or trade show is an investment in the future growth of your business. Organizations that work with us see the benefits of meetings and events in their bottom lines.
When you work in the meetings and events industry, you see the benefits of meetings every day. Meetings and events build lasting relationships between organizations and their most important audiences. While virtual or hybrid components can be great enhancements to live events, experience has clearly shown that they do not replace or have the same impact that personal interactions have on business results.
The next time someone in your organization questions event value, share these benefits of face-to-face meetings with them:
- More than 75 percent of customers either require or prefer in-person events.
- Prospects are more than twice as likely to become new customers with an in-person event.
- While virtual opportunities are emerging, 85 percent of corporate executives perceive web meetings and teleconferences to be less effective than in-person options.
- 73 percent of executives believe meetings and events have a significant impact on employee performance.
- 93 percent of executives say face-to-face meetings and events improve their ability to close deals.