RISC: Your Strategy for Evaluating Event Participation

As a young marketer, I was never a big fan of events. They felt chaotic, demanded tremendous efforts, and frankly, didn’t yield the results I hoped for. Sure, I generated plenty of leads, but closed accounts? Nothing to write home about. Everything changed when I transitioned from the corporate world to the fast-paced world of startups. In startups, you can’t simply throw money at problems or obscure inefficiencies with layers of processes and resources. This forced me to critically evaluate the strategies I had relied on for years and to rethink the value of every activity, including events. In this environment, I gained a newfound appreciation for the irreplaceable value of face-to-face interactions. Sure, the digital world offers convenience, but it can’t replicate the human connection that drives meaningful business growth. This shift in perspective inspired me to create a methodology called RISC—Relevance, Impact, Size, and Cost. It’s a systematic approach to determine which events to prioritize and how to optimize participation for maximum ROI.

Relevance: Does the event support your goals?

Relevance is the cornerstone of event evaluation. To determine if an event aligns with your business objectives, consider:

• Geography: Does the event location target your key markets?
• Audience Profile: Will attendees include your ideal customer profiles (ICPs) and decision-makers?
• Exhibitor Profile: Are key industry leaders, partners, or competitors participating?
• Technology Focus: Does the event emphasize areas relevant to your core innovations or technologies?

Leverage historical data to assess relevance. Events that have yielded strong leads or deals in the past are likely to deliver again.

Impact: What Value Can You Gain?

Evaluate the potential impact of an event by exploring:

• Lead-Generation Opportunities: Does the event have a reputation for attracting qualified leads?
• Beyond-the-Booth Activities: What additional opportunities can enhance your presence? Examples include sponsorships, speaking engagements, PR campaigns linked to the event, hosting client dinners or meet-ups, etc.

Implementing strategic planning that goes beyond mere exhibition can greatly enhance an event's return on investment.

Size: Does the Scale Justify the Effort?

The scale of the event determines its priority in your marketing calendar:

• Event Importance: Is the event a major industry gathering or a smaller, specialized one?
• Staffing Feasibility: Can your team manage the logistical and operational requirements effectively?

While larger events may offer broader exposure, niche events often provide access to a more targeted and high-quality audience.

Cost: Is the Investment Worth It?

Every event has associated costs—booth design, travel, sponsorship fees, and more. To evaluate, consider:

• Resource Allocation: Can you allocate your budget effectively for optimal results?
• ROI Potential: Will the event generate enough revenue, leads, or partnerships to justify its costs?

Understanding the direct and indirect costs ensures that your investments lead to measurable returns.

How to Apply the RISC Framework

To effectively implement RISC, follow these steps:

1. Score Events on Each Dimension: Develop a weighted scoring system to objectively compare event opportunities.
2. Review Historical Data: Use past performance metrics to guide your decisions.
3. Align with Strategic Goals: Choose events that are aligned with marketing and sales goals.

Using the RISC framework helps you make data-driven decisions, ensuring your time, budget, and resources are directed towards events with the greatest potential impact.

Let me know in the comments what you think about RISC and what other ways you have to pre-evaluate your event participation.

Would you like a RISC event scoresheet to get started? Let me know in the comments!