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ROI of conferences

The Increasing ROI of Company Conferences

In today’s competitive business environment, effective internal and external communication is key to efficiency and driving a culture of success. 

Communicating with your channel partners, sales agents and key customers enables retention of market share and opens the gateway to new customers. But on the inside, training your staff and holding regular town halls is essential to openness, innovation, trust and togetherness amongst your people. It’s little wonder that the world’s most successful organisations know the value of coming together frequently with both clients and employees.

When it comes to company and client interaction, the value of hosting product launches and key note presentations from industry thought leaders cannot be overlooked. Obvious benefits such events present such as the opportunity to conduct market research is not the only advantage to be gained. Hosting company events is a means of taking the pulse of your existing consumer base, providing valuable leads for future business.

The value of conferences

External and internal conference benefits

Writing for Forbes, CEO of Wakanow.com Obinna Ekezie makes a valid observation. He says

“technology and education advance on what appears to be a weekly basis in some industries, and the companies that remain on top of these changes are the successful ones. The direct route to this success? Continuous employee training, from the executive level down”.

Even anecdotally, it isn’t hard to agree with him, but concrete results make speculation unnecessary. Millions of dollars in value has been generated by wisely implemented training programs at companies such as GE, Honeywell and Siemens. And according to UK company Growth Engineering, organisations that spend as little as an additional £50 on learning and development begin to see profits grow at nearly double the speed of companies that don’t.

In the current cutthroat business landscape, you cannot afford to not run your annual regional conference.

Ensuring your organisation maintains the competitive edge requires communication depends on effective and frequent company gatherings. Your upskilling, sales kick-off, town hall and recruitment induction sessions are more critical than ever.

Streamlining conference delivery

The importance of streamlining event delivery

When examining conferences from the cost angle, another avenue of returns is illuminated. Your investment stretches across multiple levels of the company and includes the time to prepare and time away from business-critical activities. Costs associated with travel, event venues and logistics management must also be factored in. For a large organisation, the business impact and associated costs can run into hundreds of thousands of dollars. That’s why streamlining is essential to minimise time and costs and ensure return on investment.

From a marketing perspective, Harvard Business School professors Stephen Greyser and Mat Urde point out that a strong company identity is crucial to competitive strategy. They compare it to “a north star, providing direction and purpose”, but also highlight it can “enhance the image of individual products, help firms recruit and retain employees, and provide protection against reputational damage in times of trouble”. Pulling your company together to share business results and direction, as well as valuable question and interaction time, is the backbone to a strong identity.

Effective conference management solutions to maximise value

A worthwhile solution is outsourcing the work involved to a specialised provider. Smart operators use companies like Cliftons Venues who specialise in corporate events and conferences to assist them to secure the best return on large-format events. From sales kick-offs to senior regional management conferences, Cliftons give companies time back by managing the operational delivery and logistics of a conference, leaving you to concentrate on your core business. This ensures maximum quality time with your team, providing one central location to meet, learn, collaborate and relax over coffee or drinks in the breakout area.

One of the benefits of hosting events with Cliftons is the logistics management that’s provided, alleviating planning pressure from time-poor businesses. This allows you to concentrate on your core business while saving on event personnel, administration hours and logistics people.

Want to streamline your conference delivery? Simplify your schedule with Cliftons event management services.

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