by Simon Gray, sales director, CYE Group
Return on investment is an easy concept to understand, but often a difficult one to quantify. Our venue and event finding sites, including chooseyourvenue.com, are principally concerned with helping people find the perfect venue and helping venues find people to fill them. Yet, we have little influence over the decision, so how do you calculate ROI, or should you?
The answer is yes, and no. We need to deliver results, but they’re not always reflected in ROI.
Many businesses with paid for listings on our site need only one booking to get their money back. However, as lead generators, we are in a similar position to other media that help you generate awareness, such as live shows and exhibitions, magazines and logo designers. We’re all a step removed from confirmed business.
There’s a broader outlook. Lead generation media raise awareness of your business to millions of people every year, so for every enquiry you receive, you also receive many more views – thousands learn about your venue. And for those enquiries that don’t turn into bookings, just like exhibiting at a show, every one is an opportunity to build a strong long-term relationship.
Additionally, if you’re receiving quality leads and not making bookings, then you could have a problem in your sales process – data from lead generation can help you identify it and put it right.
The returns from lead generators are there, but sometimes it takes business acumen, rather than figures, to see them all.