The irony of discussing hosted events during the current novel coronavirus pandemic is not lost on us. The Centers for Disease Control and Prevention (CDC) has issued ever-shrinking guidance in regards to social distancing, a figure that dwindled from about 250 to 50, and now 10. Translation: No gatherings.
Once the storm has been weathered, there will likely be a flood of activities as Americans (and the world alike) look to reconnect from a business and social aspect. In that vein, we offer a look at the return on investment dealers seek to enjoy from their hosted events. Whether it’s a target amount, general range or other intangibles, the payoff can often be long-lasting, beyond dollars and cents.
For Applied Imaging, there is no direct correlation between its Michigan-Michigan State tailgate party and ROI, as the event is billed as a customer appreciation gathering. President John Lowery believes the party has multifaceted benefits.
“The return on investment for us is not only shown in the amount of deals we receive (expansion and/or new business), but it also provides another avenue for us to appreciate our customers, get to know them on a personal level, build the relationship, and in turn, grow business in the future,” he said. “We feel that it absolutely exceeds our expectations and objections based on the feedback we receive from customers.”
The annual Boise Technology Show, a valuable talk track for account managers and their clients/prospects, has turned into probably the biggest lead-generating events for Fisher’s Technology of Boise, Idaho. As the event grows to 400 attendees and beyond, it mobilizes not just the marketing team but other departments within the dealership’s organization. According to Haley Grigsby, marketing director, Fisher’s may explore the possibility of taking on a partner to aid the effort.
“As we get bigger, we might have to figure out another strategy, and that might include combining with another tech event or maybe hiring a coordinator,” she said. “It’s not a bad thing. We have a certain level of expectation for the content that we want. Moving it to every other year takes a lot of pressure off. People will be excited about it coming back to Boise in 2021.”
Bob Maxwell, president and owner of KOMAX Business Systems, notes that having free use of a facility like Appalachian Power Park (where it hosts vertical-based “night at the park” events) provides a quicker route to ROI. That leaves room for the dealer to print attractive and professional invitations on one of its color devices. And not being charged to have experts from OEMs set up or give presentations.
“It’s a win-win for manufacturers to come in and lend us a hand because if we do well with those products, they’re going to benefit from that,” he said. “They’re always willing to help us out.”
With large-scale events such as the Atlantic Production & Industrial Print Expo costing Atlantic, Tomorrow’s Office upwards of $750,000, attaining an ROI can be more than a little challenging. But company President Larry Weiss notes that as the scope of the events has tightened, the dealer has a clearer path to ending up in the black.
“With the smaller expos, we’re able to take on current topics and relevant products for our clients in a much more intimate setting where we’re able to meet our ROI objectives,” Weiss said.
