Imagine you’ve been planning your latest marketing event for months. Many late nights and a lot of blood, sweat, and tears have gone into making this the perfect evening and you’ve made sure to think through every little detail in advance. As the night of your event begins to unfold, you look around the room at your carefully selected prospects and you can’t help but wonder — will this dinner actually generate pipeline?
OK, I admit that this might sound a bit dramatic but if you’re an events marketer like me, you understand the anticipation that’s associated with each field event. Now more than ever, reporting can give data-driven marketers the inside scoop they need to know how each event’s performance impacts your overall marketing pipeline and ROI.
Although it’s been historically elusive for marketers to measure the success of any given event; when you move beyond vanity metrics like the number of registrants vs. attendees, you begin to understand how each campaign’s performance is key to proving marketing’s impact on ROI and asking your c-suite for additional events budget.
Metrics For Field-Marketing At-A-Glance
Since field marketing managers focus on creating strategic marketing activities and programs to support the sales process, you’ll need to focus your metrics on total engagement with target accounts and campaign interactions at named accounts.
Metric #1: Full Database Account Engagement
Why You Should Track This: When using field marketing events as a tactic to engage new prospects and keep them interested, it’s important to understand what percentage of your database is engaged by marketing and which accounts are the most engaged. This can help you hone in on who needs to be invited to a Happy Hour or where you should try to land your next trade show. Make sure you look at this metric on a regular basis to determine if attendees should be added to existing target account lists.
Metric # 2: Channel and Campaign Analysis
Why You Should Track This: Without the definitive data to back up your hard work, you could be left in the dark on which campaigns are most effective for turning target accounts into closed-won deals. BrightFunnel helps alleviate this problem by giving marketers a multi-touch view into the specific channels and campaigns that have been most effective for bringing target account contacts into your system. This is huge because multi-touch attribution gives you direct insight into your ROI for each of your events, so you’ll know exactly how much money you spent versus how much pipeline and revenue was generated. Limiting yourself to only the first or last touch event metrics wouldn’t give you the full scope. Without it, you might never know that a prospect who came in from a webinar, attended a field dinner, a trade show and downloaded a white paper before they became a customer.
Metric #3: Target Account Engagement
Why You Should Track This: If you’re using field events to engage target accounts in specific segments or organized tiers, understanding how engaged your named target accounts is critical. To determine what tactics are specifically working in driving the highest ROI for your company, you will need to look at how many contacts you have for each account, how engaged those contacts are with your company, and how sales activity is mixing with marketing to get a full view of the account.
A good thing to always keep in mind when it comes to tracking events is to remember that your event may not be an overnight success. If your event was the first ever interaction your prospect had with your company, it can easily take months before you see any results.
Next Steps for Field Marketers
By using these metrics to track your buyer’s journey, you can keep a close watch on how each field event impacted their progress through the funnel. Accurate reporting is critical in tracking your marketing and if you’re a Field Marketer who could use a multi-touch attribution platform, like BrightFunnel y to have all the data at a click of a button, we’d be happy to help!