Focus for 2020 Now that the IHT events have been running for some years, it is important that the return on the investment is measured and assessed in 2020.
To do this, going forward we will need to agree in advance of each event the number of leads and conversions which we are aiming for each event to generate.
We know the cost of acquiring the leads by logging: • The costs associated of advertising • Cost of hosting the event (venue/catering) • Adviser time
However, what we do not have is clear sight of the ROI which each event returns. This is based on offsetting the event costs against new business opportunities created and the level of conversion into actual business.
It is only post-event that we will be able to create a clearer picture of how successful the event has been in terms of generating ‘new new’ and ‘new from existing’ business.
Due to the fact that we use separate databases in different areas of the business, in order to successfully log and assess the type and level of new business generated from each event, a manual follow up process is proposed.
Following each event in 2020, marketing propose to circulate a spreadsheet which will log opportunities and track conversion, however, this process will only work if both marketing and advisers commit to regular follow up on the leads generated and tracking progress toward a sale.
Below is a sample of the proposed form:
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