Nick Tinker, senior manager at Cvent, shares insights from his session at this year’s International Confex: ‘Know your worth: Using technology to prove the value of events to the C-Suite.’
Pop quiz: what do the companies Swan Vesta, LEGOLAND and Cheetos have in common? Answer: individuals within these organisations leveraged their unique expertise to influence leadership to make positive changes – ultimately proving to the C-Suite that value and opportunity exists everywhere – and at all levels. Their stories are inspiring and offer valuable lessons that can be applied in similar situations – such as when event organisers want to prove the value of events to the C-Suite.
Lesson 1 Swan Vesta: Persistence pays off
In the early 1900s, a factory worker at Swan Vesta (the match company), approached senior management with an idea to save production costs. Initially ignored and met with scepticism from management that a factory worker could have an idea of real value, the employee persisted for months until he got in front of the board. The idea – to place the sandpaper strike on only one side of the matchbox – was pitched. This simple innovation transformed the bottom line, saving the business millions of pounds.
Lesson 2 LEGOLAND: Impacting experience
We’ve all experienced the frustration of waiting in long queues. Some of us have even endured the stress of waiting with tired, hungry, impatient children on the verge of tantrums. With long queues threatening to dampen the visitor experience, an empathic frontline employee proposed a solution: placing tables with LEGO pieces at the centre of lines. This change turned something boring into something fun and interactive, enhancing the experience for both parents and children.
Lesson 3 Cheetos: Creative thinking
Richard Montañez is often credited as the Frito-Lay janitor who conceived the idea for Flamin’ Hot Cheetos. Montañez would ascend the corporate ladder, becoming a VP of multicultural sales and community promotions at PepsiCo. The story goes that the idea for Flamin’ Hot Cheetos occurred when a broken assembly machine produced a plain batch of Cheetos. Taking this batch home, Montañez experimented with flavours. Subsequently, he pitched the chilli-flavoured concept to the C-suite. Now, we have the cultural phenomenon that is Flamin’ Hot Cheetos – the top selling brand for the business.
Takeaways for the event professional
Do your executive stakeholders truly understand the value of your events? Probably not, as research suggests that they often underestimate the multifaceted role of the events team, and the significant results events deliver to the organisation. It’s time to rewrite this narrative, showcase you (and your team’s) value and why events matter more than ever. But how do you challenge the status quo? Bridging the gap requires a strategic approach grounded in metrics. With the right technology, impactful data points can be easily harnessed. Imagine being able to collect audience engagement insights pre, during and post-event; and taking those insights to curate customised real-time reports. Showcasing exactly what the C-suite cares about ensures you’ll capture their attention while articulating the tangible benefits of your events.
In addition to showcasing the immediate value of events, you can further prove how your event programme supports broader organisational goals, such as sustainability. By implementing data collection frameworks that track the environmental footprint of each event, you can demonstrate your commitment to CSR and track your journey to Net Zero.
In short, with a smart mix of what Swan Vesta, LEGOLAND and Cheetos taught us (persistence, creative thinking and the target audience experience) – and a boost from the right event technology platform – you and your teams will be empowered with the data and insights you need to prove the value of events to the C-Suite. With technology as a powerful tool in your arsenal to track event KPIs, capture valuable audience data, analyse attendee engagement with your brand and demonstrate ROI, you can further elevate your position within the organisation as strategic executive partner and business driver.
