Dreamforce Hangover – What’s your ROI?
Dreamforce is an absolute dream for 170,000 people this week. A giant tech party , including a U2 Benefit concert, spread across San Francisco. Check out the campus map if you don’t believe us. However, the “Dreamforce Hangover” begins the minute that everyone heads to the airport. How much did you really spend? Do you even know? Was it worth it? What is your ROI?
How much should a company plan to spend when they are heading to Dreamforce? It depends.
We threw together some assumptions and calculations, and it’s probably a low-ball estimate…
A company that is a Titanium sponsor needs to budget $3.6M for direct costs and $250k for their employee’s time at the event.
To generate a positive ROI, all of the investments and time tied to Dreamforce will need to deliver almost $4M in new revenue. That’s a quite a distance from the $1.5M base entry fee for that level of sponsorship.
Start-ups always experience sticker shock . They scrape together $25k, only to realize that they need to find an additional $30k to really “be there”. And, the kicker is that they don’t even get into the U2 concert.
And, no one ever loads in the value of “time”. We’ve included loaded FTE costs for being away from typical responsibilities and tasks. But, what we haven’t included is the “opportunity costs”. How many sales did you lose by having a rep camping a booth versus working their territory for that week? How many opportunities did you lose by spending money towards the wrong conferences?
We are human. Our resources – time and money – are limited. Our decisions have the best of intentions. We believe that new business will come. We have hope.
Yet, many sales and marketing people admit to making very large investments towards conferences and trade shows based on gut. They have no way of explaining why one show did better than the other. And, they know that they are missing opportunities, they just do not know what they are. They have never powered their decisions with data.
This is where Lodestone Logic is a strategic partner. We help our customers access event data and tools to –
- Prospect and target like a rockstar,
- Track competitors and customers,
- Generate strategic business insights,
- Be uber efficient AND effective, and
- Increase ROI!