Planning and running B2B matchmaking events takes half of the effort, time, and money you’d spend on coordinating traditional networking sessions. With B2B matchmaking events, you don’t have to waste valuable hours on manually scheduling B2B meetings between your attendees, or searching online for silly ice-breaking games (because you simply won’t need them).
You’re also able to effortlessly design the networking framework in its entirety, deciding how people will interact with each other. After setting up the matchmaking parameters, the only thing you need to do is to step aside and let the system do its magic.
However, there’s always room for improvement, which you can achieve only by calculating the ROI of B2B matchmaking events and gaining valuable insights.
“But if the matchmaking system works like a charm, what exactly should I improve?” you might be asking, a little bit confused.
By measuring the ROI of B2B matchmaking events, you’ll find the answer to questions such as:
- Did I manage to connect the offer with the demand by creating compatible groups based on “I’m looking for” and “I’m offering”?
- Did my guests sell their products by interacting with the hosted buyers I invited (and paid for!) to the networking session?
- Are the matchmaking parameters friendly enough to empower my attendees to have a meaningful networking experience?
Considering this, here’s how you can calculate the ROI of B2B matchmaking events and gain a clearer vision about how to enhance the experience of your attendees for future events, subsequently increasing your revenues:
Step 1. Define YOUR metrics of success
Each B2B matchmaking event organizer has his or her own reasons why to run this type of dynamic. Some may want to attract new investors to a specific region; others may focus on certain industry growth, wanting to help professionals close as many deals as possible.
That’s why the secret to successfully measuring the ROI of B2B matchmaking events is to first assess what your goals are, then define the results you want to achieve. How many investors do you want to attract? How many business collaborations do you want to generate through these B2B meetings? How many satisfied attendees do you want to see leaving your networking event? Only by knowing what you are looking for will you be able to measure the things you are most interested in.
Step 2. Evaluate the total number of meetings
As you probably know, a powerful B2B matchmaking platform will empower your attendees to schedule their own meetings. Needless to say, this is an important number to look at when measuring the ROI of B2B matchmaking events. This information will help you understand multiple aspects.
First, you’ll be able to determine if the vetting system helped you select “good networking material” (meaning valuable attendees who can add professional value to each other). Second, this number will indicate if you managed to match successfully the offer with the demand. For example, if the groups you create (and enable the interaction between) are “Pharmaceutical Labs Sales Departments” (“I’m offering”) and “Pharmaceutical Labs Sales Departments 2” (“I’m searching for”), don’t expect great interaction. You have to connect the real offer and demand; for example, between groups such as “Investors” and “Startups.”
Step 3. Create a social listening strategy
When calculating the ROI of B2B matchmaking events, don’t forget to turn your ear to social media and measure the number of mentions, comments, and posts of those who attended the B2B networking dynamic. You can do this both during and after the event. This will give you a better understanding of your attendees’ general satisfaction.
Step 4. Determine the number of closed deals
Run a post-event survey and ask your attendees about the results they achieved by attending your B2B matchmaking event. Did they find an investor with whom they were confident to continue collaborating? Did they sign a contract with someone with whom they interacted during the networking dynamic? Were they able to find business allies or sponsors?
Step 5. Calculate the number of sales
If you invited hosted buyers to your event, it would be interesting to see how many sales your attendees made by interacting with these buyers. This will arm you with the necessary data to evaluate the difference between how much you spent on hosting these professional buyers and the value they added to your attendees.
The beauty and efficiency of a B2B matchmaking system is that you adapt the networking parameters accordingly to your goals and intentions. That’s why, when measuring the ROI of B2B matchmaking events, it’s important to remember your expected results. Moreover, by having a clear picture of what you were able to achieve by planning and running a B2B matchmaking event, you’ll know what to improve or adjust to make your next event even better.