Maximizing Your ROI at Conferences and Events: Part 1 - Do Your Homework

Industry conferences can be very appealing. They provide a break from routine, maybe a visit to a different city, a chance to learn something new, and some great networking and socializing opportunities. But it’s not all exotic locations and making new deals over a Long Island Iced Tea. It’s true that conferences can have their perks, but there is also a real danger to your company’s bottom line if you or your staff start viewing these opportunities as mini-holidays. Conferences are a time for working hard – even while you’re playing hard – and making the most out of every minute.

The first step is to take stock of how much it is costing you to attend and send staff to conferences, and to weigh that against your return on investment. The costs to attend conferences can be significant – both the actual monetary cost and the investment in time away from current projects and clients. And don’t forget the “invisible” costs – being away from family and friends and getting behind in all the other “life” things (although you must admit you’d probably take any excuse to not mow the lawn on the weekend). All of this can cost your business thousands of dollars – and so you need to ensure a significant return on your substantial investment.

Here are some ideas on how to maximize your ROI before you even get to the conference. Most of this is pretty common sense, but hopefully will be helpful for conference newbies. In next week’s post, I’ll talk about things to do during and after the conference to start seeing returns on your investment as soon as possible.

Be an event snob

Don’t go to every event out there – be choosy. Pick only events that will help you reach your top organizational goals. Ask yourself, “What are we as a company trying to accomplish?” and then attend events that will do just that. Are you seeking strategic partnerships? Trying to market or strengthen your company’s brand? Do you have a new product you want to launch? Are you searching for new hires? Are you looking for professional development opportunities for your staff? All of these goals are important, but prioritize them so you know where to focus.

Be an expert

If possible, being a speaker, presenter or workshop facilitator at a conference is a sure-fire way to increase your visibility and respectability among other conference-goers. Not only does it help get your name and brand out there, it also instantly tags you as an expert in your field – which means people will want to get to know you and your company, and you’ll have a lot more opportunities for networking (except if your presentation SUCKS). Of course, this won’t be possible for every conference unless you’re a REALLY big name (and even then, just try getting a session at SXSW), but where you can, make the effort to get a platform to put you and your organization on the map.

Be a sponsor

Especially if your goal is to increase the profile of your company’s brand within your industry, being an event sponsor can automatically put you in the big leagues in the minds of attendees. The visibility you can achieve at the event, on the event website, and on marketing materials can greatly increase you the chance that attendees will stop by your booth or will attend a seminar you are leading. Being a sponsor isn’t always possible depending on the size of the conference (and your budget) – but if done at the right time and in the right way, it can have huge payoffs in visibility.

Know the scene

Know in advance who you’ll be rubbing elbows with. Do your homework (in a non-creepy, non-stalker kind of way). Check the event website to see if they have a list of conference presenters & attendees and get a copy of the session schedule. Maximize your time by deciding on the sessions you want to attend ahead of time. Then decide on the key people you want to meet or re-connect with, and contact them in advance to see if you can set up a meeting during a break or networking time. Doing so will make a great impression and will show that you value their time and are serious about connecting. As well, you won’t be stuck at the end of the conference wishing you could have met with so-and-so. And by setting up the most important meetings in advance, you’ll be able to relax and act on more spontaneous opportunities as they arise. However, be sure not to pack your schedule too tight – as it’s good to make room for chance meetings and lots of casual networking time.

Look awesome

Everything you bring to a conference – including your display, business card, marketing materials, and even yourself – represents you and you company. You are competing against a lot of other companies, so in order to make the most of your investment you need to stand out. This is especially true when it comes to your display (IF you decide to have one). What is the point of spending hundreds or even thousands of dollars on a display space if you’re just going to blend in with the crowd? Instead, spend a little extra money on your display and make sure you get people talking – and INTERACTING – with you.

Prepare your team

These points of preparation don’t just apply to the owner, manager or sales representative – everyone on your team needs to know what your company’s goals are for this event and how they can play an important part in reaching them. Discuss your goals well before attending an event, brainstorm strategies to gain ownership, split up the preparation and networking possibilities, and practice your elevator pitches together (make sure they’re AREN’T canned). Even if a if a team member’s primary goal is to hone their skills and learn new ones, they can also play a significant role in building relationships with key people and creating a positive vibe about the company. They need to be able to see the bigger picture of the win-win that’s available to them, as promoting their company brand will only help them in the long run by being associated with a successful company.

Just by following these simple suggestions, you’ll be in a much better place to take full advantage of all the opportunities conferences and events have to offer. Of course, all the prep in the world won’t matter if you blow it while you’re there! In next week’s blog post I’ll share some of the best tips I’ve discovered (including what NOT to do!) for making the most of the sessions, networking times and, best of all, the after-parties.