If these phrases make you cringe, you’re not alone. Why trust your gut when you can calculate consumer habits using statistics, data analysis, and algorithms? Its scary how the ads on my computer are so aligned with what I want to buy. They’ve got me pinned!
Marketplace analysis and data driven decision making have matured and are here in full swing. With so much market saturation, so many options to choose from, and so many shallow promises about products and services, it makes sense that the world is shifting and favoring those who can put together some hard facts. It is time for NLGS to do the same.
We have certainly benefited from word of mouth, a good referral or two, and of course a no brainer product. But we too have felt that pressure to quantify, measure, and analyze. It has caused us to grow and really take a hard look at some data from our 2015 event. The findings only affirmed what we already felt…
Without trying for a hard sell (though those numbers are EASY!), let’s take a look at this simple question: Was the 2015 NLGS a success?
The data is in folks: our 2015 event was a huge success! People made remarks like, “We love the format, and the cost is low to attend!”, and “NLGS is the most effective format I know for both buyers and vendors.” But, we know that is not enough anymore. Through revamped surveys we found that our 2015 event scored an overall 95% satisfaction rating from both buyers and vendors. (For the record, that is better than the latest Star Wars installment, The Force Awakens.) This satisfaction is based off of three key domain indicators of successful marketing events: Organization, Event Format, and Effectiveness of Event.
1) Organization: 4.77 out of 5
The organization of our event is very important to us. What we lack in high tech solutions like ipads and video monitors, we make up for in a deep history of running the event. Kaia Sailor, our event specialist, has been the On-the-Ground manager for the last 20 years, running the operations with – as one customer put it – “military-like precision.” Keeping everyone on the tight, effective, precise schedule of 10 minute pre-set appointments is one reason people keep coming back. The regiment lets everyone have their shot with any buyer with whom they match, and keeps everyone on their toes.
2) Format: 4.70 out of 5
Indeed, the NLGS format is one of the most unique and appreciated aspects of NLGS. Our format utilizes pre-scheduled appointments between compatible buyers and vendors. Buyers have their own space, and vendors come to and sit with the buyer to discuss their product. Meetings are private, and the 10 minutes are guaranteed. Furthermore, buyers and vendors are matched based off of industry categories, preventing an awkward ten minutes between a vendor who makes industrial grade fertilizer and a buyer who only sells organic gardening supplies and DIY resources. One vendor puts it quite nicely: “I was skeptical as first, but the format is brilliant!”.
3) Effectiveness: 4.73 out of 5
This domain measures the perception of each attendee about whether or not the the appointment format is more effective than booth style shows. When answering this question, respondent’s considerations include effectiveness of facilitating meaningful conversation, effectiveness of putting buyers in front of vendors, or the effectiveness of providing networking opportunities. Overwhelmingly, the responses are positive towards NLGS. We hear things like, “I really enjoy the format. This really is a great way to learn about a new product,” and, “I was impressed with everything compared to other shows”. While some people certainly prefer the booth style events, the vast majority who actually try the NLGS appointment style prefer it over booth style shows.
What do these indicators tell us about NLGS? That it is well worth the time and investment. In fact, our final survey question asked about just that. All things considered, what is the estimated ROI of attending NLGS? Of those who were confident in their ROI estimates, the average return on investment estimate was $26,250 on the low end, and nearly $235,000 on the high end! The low end of that spectrum is still almost ten fold return on the show cost! While we have been saying this to folks for years, we are now more confident than ever that NLGS is worth every penny.
To learn more about NLGS and get the inside scoop about NLGS, contact us at 719.488.0226.