Measuring the return on investment (ROI) for cannabis events is crucial to understand if your marketing efforts are working and make informed decisions. This article provides an overview of seven essential tools to help track key metrics, identify areas for improvement, and optimize your event strategies:
- Vendelux: AI-powered platform for event planning and measuring impact, helping maximize ROI and improve event strategy.
- EventMobi: User-friendly event platform with analytics, registration tools, and integrations for streamlining operations.
- Banzai: Cloud-based event management solution with registration, ticketing, sponsor management, and detailed analytics.
- CountVisits: Web analytics tool with customizable dashboards, data visualization, and performance monitoring.
- QuestionPro: Survey software for gathering real-time attendee feedback and insights during events.
- EventPipe: Accommodation management tool for creating booking websites, managing room blocks, and tracking financials.
- Expo Logic: Event management platform for tracking metrics like registration rates, social media engagement, and lead generation.
As the cannabis industry grows, measuring event ROI will become increasingly important. By leveraging the right tools and technologies, businesses can stay ahead, optimize their strategies, and achieve their goals in this rapidly changing landscape.
| Tool | Key Features |
|---|---|
| Vendelux | AI-powered event planning, impact measurement |
| EventMobi | Analytics, registration, ticketing, sponsor management |
| Banzai | Registration, ticketing, sponsor management, analytics |
| CountVisits | Web analytics, customizable dashboards, data visualization |
| QuestionPro | Real-time attendee feedback, survey software |
| EventPipe | Accommodation management, booking websites, financial tracking |
| Expo Logic | Metric tracking, badge printing, real-time analytics |
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About This Article
What You’ll Find Here
This article provides an overview of seven tools to help measure the return on investment (ROI) for cannabis events in 2024. Measuring event ROI is crucial in the cannabis industry, where events play a key role in:
- Building brand awareness
- Networking
- Generating leads
Accurately calculating ROI justifies event investments and enables data-driven planning.
Why It Matters
The roundup explores each tool’s features, use cases, pros, and cons. By the end, you’ll understand the available options and can choose the right tools to measure and optimize your cannabis event ROI.
Whether you’re an experienced event planner or just starting, this guide offers insights to make informed decisions about measuring event success.
What’s Covered
We’ll dive into seven distinct tools, covering:
- Key capabilities for measuring cannabis event ROI
- Specific benefits and drawbacks
- Ideal use cases for each tool
The goal is to provide a clear, practical overview to help you select the best tools for your needs.
| Tool Overview |
Tool 1: Vendelux
What is Vendelux?
Vendelux is a platform that uses AI to help plan and measure the impact of event marketing. It provides insights and tools to improve how event marketing and sales teams work together. This helps event marketers get more leads from events and plan trade shows more efficiently.
Pros and Cons
| Pros | Cons |
|---|---|
| Large database | Can be costly for small businesses |
| Saves time on research | Takes time to learn for new users |
| Helps sales and marketing teams collaborate | Limited to Vendelux’s data sources |
When to Use Vendelux
Vendelux can be useful for large events with multiple sponsors. Its AI capabilities help event marketers make data-driven decisions, maximize event ROI, and improve their event strategy. It can also help companies boost their in-person marketing, generate leads, and build strong brands.
Tool 2: EventMobi
What is EventMobi?
EventMobi is an event platform that offers tools to help cannabis event organizers measure and improve their event’s success. It provides an easy-to-use interface for managing events, including registration, ticketing, and sponsorship.
Key Features
- Analytics: Detailed data and insights to measure event performance and ROI.
- Event Management: Tools for registration, ticketing, and sponsor management.
- User-Friendly: Simple interface for event organizers.
Integrations
EventMobi integrates with various systems to streamline operations:
| Integration | Purpose |
|---|---|
| CRM Systems | Connect with customer relationship management tools. |
| Social Media | Link to social platforms for promotion and engagement. |
| Payment Processing (Stripe) | Enable seamless registration and ticketing payments. |
| Custom Integrations (API) | Flexibility to connect with other systems as needed. |
Considerations
| Pros | Cons |
|---|---|
| Easy to use | Potential high costs for premium features |
| Detailed analytics | Setup time required |
| Integrations for streamlining | May need technical support |
Tool 3: Banzai
What is Banzai?
Banzai is a cloud-based event management platform designed to help cannabis event organizers plan, promote, and measure their events effectively. It offers a user-friendly interface for handling various aspects of event management, including registration, ticketing, and sponsorship.
Banzai’s mission is to connect people through life-changing experiences by providing simple, people-focused, and learning-centered software solutions.
Key Features
- Event Registration: Streamlined registration process for attendees.
- Ticketing Management: Tools for selling and managing event tickets.
- Sponsor Management: Capabilities for securing and managing event sponsors.
- Analytics and Reporting: Detailed data and insights to measure event performance and ROI.
Pros and Cons
| Pros | Cons |
|---|---|
| Detailed engagement tracking | May not be ideal for in-person events |
| Cost-effective pricing | Limited customization options |
| Strong support for virtual events | Requires platform familiarity |
Success Stories
Banzai has become the go-to solution for over 200 leading companies, including Dell, Google, Microsoft, and Oracle, generating over 30,000 event and conference registrations worldwide. Its customers have seen significant success in driving attendance for regional and field marketing events.
For example, in 2019, Banzai:
- Doubled its revenue
- Supported 1,400 unique customer events
- Grew its team by 200%
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Tool 4: CountVisits
What is CountVisits?
CountVisits is a web analytics tool designed for busy business owners. It offers a one-time payment for lifetime use, eliminating monthly subscription fees. Key features include:
- Easy setup with no coding required
- GDPR-compliant tracking without cookies
- Integration with Unicorn Platform
- Customizable dashboards
- Data visualization from various sources
- Tracking of custom events and external link clicks
- Daily reports and alerts
- Automatic traffic shift notifications
- Performance monitoring
- Comprehensive Lighthouse reports
CountVisits supports monitoring unlimited websites under fair usage and promotes simplicity while providing valuable insights and transparent public dashboards.
Pros and Cons
| Pros | Cons |
|---|---|
| One-time payment | Limited to web analytics |
| No coding needed | May lack advanced event features |
| GDPR compliant | Fewer integrations than competitors |
Customization Options
CountVisits offers customizable dashboards to track cannabis event performance. Event organizers can:
- Visualize data from various sources
- Gain insights into the event’s online presence
- Make data-driven decisions
- Track custom events and external link clicks
- Understand attendee interactions with the online platform
Tool 5: QuestionPro
What is QuestionPro?
QuestionPro is a platform that helps cannabis event organizers gather and analyze feedback from attendees in real-time. With its survey software, you can create surveys, distribute them through various channels (SMS, email, website, app, QR code), and collect feedback. The platform offers survey templates, question types, and can process structured and unstructured data.
Pros and Cons
| Pros | Cons |
|---|---|
| Advanced survey logic | Setup can be complex |
| Real-time reporting | May require training |
| Integration options | Potentially high costs for extensive use |
Real-Time Feedback
QuestionPro allows you to collect feedback during cannabis events, enabling you to make informed decisions on the spot. You can:
- Set up alerts
- Track participant feedback
- Analyze results on your smartphone or tablet
This feature helps you:
- Identify issues
- Understand what’s working
- Make adjustments to improve the event experience
Tool 6: EventPipe
What is EventPipe?
EventPipe is a software tool that simplifies managing accommodations for events. It offers an easy-to-use interface, detailed financial tracking, and supports hybrid events (both in-person and virtual). With EventPipe, cannabis event organizers can:
- Create, send, and manage requests for proposals (RFPs) and contracts
- Launch customized booking websites for attendees
- Manage room blocks and sub-blocks for hotels
- Automate reporting and invoicing
- Access additional revenue opportunities
Key Features
| Feature | Description |
|---|---|
| User-Friendly Interface | Intuitive platform for managing event accommodations |
| Financial Tracking | Detailed tracking of accommodation costs and revenue |
| Hybrid Event Support | Supports both in-person and virtual event formats |
| RFP and Contract Management | Create, send, and manage RFPs and contracts with hotels |
| Booking Website | Launch customized websites for attendees to book accommodations |
| Room Block Management | Manage room blocks and sub-blocks for hotels |
| Automated Reporting and Invoicing | Streamlined reporting and invoicing processes |
| Revenue Opportunities | Identify and access additional revenue streams |
Benefits
- Simplifies accommodation logistics for cannabis events
- Streamlines hotel reservation management
- Tracks financial impacts and revenue opportunities
- Enables organizers to focus on other event aspects
- Ensures efficient accommodation management
EventPipe helps cannabis event organizers streamline accommodation logistics by providing a centralized platform to manage hotel reservations, track financial impacts, and optimize revenue opportunities. With customized booking websites, room block management, and automated reporting and invoicing, organizers can ensure that accommodation logistics are handled efficiently, allowing them to focus on other aspects of the event.
Tool 7: Expo Logic
What is Expo Logic?
Expo Logic is an event management platform that helps cannabis event organizers measure and improve their event’s success. It provides tools to track key metrics like registration rates, social media engagement, and lead generation. Expo Logic aims to create a smooth experience for attendees from start to finish, allowing organizers to focus on delivering meaningful events and maximizing return on investment (ROI) for exhibitors, sponsors, and the organization.
Key Features
| Feature | Description |
|---|---|
| Metric Tracking | Monitor registration rates, social media engagement, lead generation, and attendee journeys. |
| Badge Printing | Print high-quality branded badges for easy attendee check-in and self-printing. |
| Analytics | Access real-time analytics to measure event performance. |
Pros and Cons
| Pros | Cons |
|---|---|
| Tracks quantitative and qualitative metrics | May require integration with other tools |
| Provides real-time analytics | Learning curve for full utilization |
| Supports attendee experience | Potentially higher costs for full feature set |
Measuring Event Success
Expo Logic enables organizers to track various metrics to gauge event success:
- Registration Rates: Monitor the number of attendees registering and the conversion rate from registration to attendance.
- Social Media Engagement: Measure the impact of social media campaigns on event attendance and engagement.
- Lead Generation: Track the number and quality of leads generated from the event.
- Attendee Tracking: Follow attendees’ journeys to gain insights into their event experience.
- Badge Printing: Provide branded badges for easy check-in and self-printing by attendees.
Final Thoughts
Measuring the return on investment (ROI) for cannabis events is crucial. It helps businesses understand if their marketing efforts are working and make informed decisions. With the right tools, event organizers and exhibitors can track key metrics, identify areas for improvement, and optimize their strategies to get the most value from events.
When choosing a tool, consider your specific needs and requirements. Each tool has its own features, pros, and cons, so some may be better suited for your business than others. Take the time to research and evaluate the tools mentioned in this roundup to find the best fit.
As the cannabis industry grows, measuring event ROI will become even more important. With increasing competition and rising costs, businesses need to be strategic and efficient with their event marketing. By using the right tools and technologies, cannabis companies can stay ahead and achieve their goals in this rapidly changing landscape.
Key Considerations
- Evaluate your needs: Assess your specific requirements and goals for measuring event ROI.
- Research tools: Explore the features, pros, and cons of different tools to find the best fit.
- Stay strategic: As the industry evolves, measuring event ROI will help you make informed decisions and optimize your strategies.
- Leverage technology: Utilize the right tools and technologies to stay ahead in the competitive cannabis event landscape.
| Pros of Measuring Event ROI | Cons of Not Measuring Event ROI |
|---|---|
| Understand marketing effectiveness | Wasted resources on ineffective strategies |
| Make data-driven decisions | Missed opportunities for improvement |
| Optimize event strategies | Difficulty securing stakeholder buy-in |
| Justify investments | Lack of data-driven decision-making |
FAQs
What is the average ROI for events?
| Average Event ROI | Range |
|---|---|
| 25-34% | This percentage can vary based on factors like attendance, sponsorship revenue, and brand awareness. |
Why is measuring event ROI important?
Measuring event ROI helps you:
- Understand marketing effectiveness: See if your event strategies are working.
- Make data-driven decisions: Use data to optimize your approach.
- Justify investments: Show stakeholders the value of event marketing.
- Avoid wasted resources: Identify ineffective strategies and areas for improvement.
How can I improve my event ROI?
To boost your event ROI:
1. Track key metrics
- Attendance rates
- Lead generation
- Social media engagement
- Attendee experience
2. Analyze the data
- Identify strengths and weaknesses
- Pinpoint areas for optimization
3. Refine your strategy
- Adjust your approach based on insights
- Focus on high-impact tactics
4. Leverage technology
- Use tools to streamline event management
- Gain real-time analytics and reporting
5. Engage attendees
- Deliver a memorable experience
- Foster connections and brand loyalty
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