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Harnessing the Power of Lead Retrieval App to Boost Event ROI

Harnessing the Power of Lead Retrieval App to Boost Event ROI


May 14, 2024 Praggya Joshi

In event planning, one of the primary goals is to demonstrate tangible results to stakeholders, particularly exhibitors. A crucial method to achieve this is through lead generation. After all, what's the purpose of a trade show or an industry conference if they can't pinpoint potential new customers to connect with? Events draw in numerous individuals who are already interested in their offerings and can provide valuable insights into audience's preferences. It's noteworthy that approximately 80% of your return on investment comes from just 20% of the leads you gather. However, relying on outdated systems rather than utilizing a robust lead retrieval app increases the likelihood of missing out on many opportunities. 

Keep reading as we delineate the various ways you can harness lead retrieval technology to augment event ROI metrics.


Challenges of Traditional Lead Generation Methods
Here are the primary challenges associated with traditional methods like paper forms, business cards, and business card scanners that often create inefficiencies in lead collection.  

  • Cumbersome and Time-Consuming: Filling out paper forms proves arduous for attendees, and transcribing them post-event only adds further delay for sales teams. Moreover, inputting contact data into your system demands significant time from your sales representatives, thereby prolonging the follow-up process. 
  • Non-Compliance with GDPR: Gathering details via business cards may violate GDPR regulations due to the absence of evidence regarding context, time, or source of data collection. 
  • Inability to Prioritize High-Quality Leads: Traditional lead collection methods fail to distinguish between leads based on quality, and end up treating all leads equally. This impedes effective follow-up actions as identifying the leads most likely to convert becomes challenging. 
  • Inaccurate Information: Optical Character Recognition (OCR) technology in business card scanners often inaccurately captures characters, resulting in erroneous information. Additionally, these scanners necessitate connection to a system with installed software to function effectively. 
  • Lack of Analytics Access: Paper forms and business cards lack real-time access to meaningful metrics like total scans, new lead count, average lead quality, etc. This absence of crucial data obstructs prompt improvement of the lead capture process.


How Lead Retrieval App Maximizes Exhibitor ROI at Events?
A tailored lead retrieval app streamlines the lead collection and qualification process, facilitating prompt follow-up. Furthermore, the app aggregates data, furnishing valuable insights into attendee preferences, behavior, and engagement. 

Here are some of the ways the app can be leveraged by exhibitors to enhance ROI.


Find Leads Quickly and Keep Them Engaged
Why sift through attendees' business cards when you can swiftly scan their QR codes and initiate lead tracking? A robust lead retrieval app effortlessly scans QR codes and NFC tags on attendee badges, capturing vital details such as names, emails, and company info. This lead information is accessible on both mobile devices and desktops, streamlining subsequent engagement planning. Furthermore, the app facilitates scheduling one-on-one meetings with leads.


Identify Hot Leads for Effective Nurturing
Leads are categorized as hot, warm, or cold for a reason. To optimize event ROI, it's vital to concentrate on connecting with hot leads or engaging warm ones. The lead retrieval app empowers exhibitors to rate their leads according to their significance, simplifying the identification of those most likely to convert. This enables them to prioritize follow-up efforts on these hot leads.


Craft Personalized Communications with Leads
Post-event follow-ups and lead nurturing become significantly more effective when armed with comprehensive contact data. The lead retrieval app empowers exhibitors to incorporate personalized notes and details regarding their interactions with attendees, offering invaluable insights for tailored interactions. Teams can harness this data to craft potent post-event strategies for nurturing leads and amplifying engagement.


Gain Robust Insights
Data analytics serves as the cornerstone for tailoring personalized experiences. A lead retrieval app plays a pivotal role in this by providing immediate data about booth visitors, including footfall, engagement levels, and lead quality. This allows exhibitors to analyze the information on-the-fly and refine their strategies throughout the event. Statistical data on lead collection and the daily tally of prospects acquired enables them to calculate ROI effectively. The quantity and quality of leads serve as key success metrics, aiding exhibitors in determining the optimal approach and evaluating whether the allocated budget enabled them to achieve their lead collection objectives.


Conclusion
An event lead retrieval app simplifies lead management for exhibitors and facilitates ROI computation through data analytics. Events serve as melting pots for potential clients and competitors and therefore, capturing lead information, identifying prospects likely to convert, and following up in a personalized manner are paramount. Digital lead retrieval solutions streamline this entire process, ensuring accurate lead management and engagement optimization. 

Ready to streamline lead capture and management at your event? Explore Eventcombo’s solutions today. https://bit.ly/3R9bkuP


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