Return on investment (ROI) has long been one of the metrics to measure event success. It is a key factor in determining the degree of success of any event or enterprise. Therefore, it is necessary to better understand the use of event technology and how to interpret the results based on the set KPIs.
When is the event considered successful?
The most successful events start with having clear objectives in place. So, when you are putting budgets in place, before any event details are even considered, define the criteria for success. These budgets should include staff time, direct costs, and more. Your event will be considered a success when your revenue covers the budget expenses 2-3 times, meaning that it exceeds the evaluation criteria and delivers a positive ROI.
Reasons to track your event metrics
Thorough research in the field of the event industry has allowed us to develop event marketing metrics and methods for evaluating the effectiveness of events. There are a couple reasons why you should look for ways to measure event success:
- Measure revenue vs. overhead costs
- Track sales statistics, precise amounts, dates, etc.
- Monitor social media activity
- Provide post-event surveys
- Gain sponsor recognition
- Gain media coverage
- Apply event apps
- Generally keep things in order
There are also ways to help you understand how to measure event success that you should apply.
How to set goals to measure success
Setting and measuring event goals provides a tangible means to evaluate success. Choose an area on which to focus a goal for improvement. Setting an attainable target for improvement will be your end goal. How can you set KPIs to measure event success and the event goals?
- Make sure your goals are SMART
- Assess the current performance of your chosen improvement target
- Each one should match the SMART criteria
- Each should be easy to measure
- Explain them to the team
- Set a deadline for accomplishing your goal
Remember that these goals are specifically designed to provide structure and guidance throughout an event and apply to all participants of the process.
SMART goals for planners
The development of event technology has led to new ways to monitor ROI. The SMART approach is the best one. It means that while developing your event marketing strategy, it needs to conform to the following criteria: Specific, Measurable, Attainable, Relevant, and Timely. It helps with alleviating common project challenges and sets specific ways to measure event success before, during, and after an event by assessing metrics / KPIs, allowing you to better measure your event success.
You can track registrations during event check-in with metrics that reflect the number of event registrants with active registration as well as see EOY reports or reports for any other period.
Social media engagement
Apart from bare social media rates, you should also measure the depths of customer engagement on the platforms you use for social media marketing. By now, you know about the tools to manage social media engagement, our service offer another whole beast to make each channel work to your advantage.
Actual day attendance
Attendance is a good gauge to evaluate the success of any event, as attendees are vital components. Attendance on an actual day may appear low/high in comparison to expectations. Attendee metrics are also applied to track success and build attendance reports.
It’s also important to understand attendee satisfaction as a quantifiable metric, as opposed to a strictly qualitative variable.
To help with branding, learning about a company, and gathering a better audience, use revenue metrics. Events can also have goals, metrics, benchmarks, and roles to play in your overall marketing strategy that must be determined.
Press and media coverage
With Global.Sign.in, you also get the easy-to-use media monitoring tool that allows you to track social mentions, analyse your event competitors, and find influencers and other mentions in online media or press.
You can also use a registration page to measure event success. Use registration metrics—the techniques issued as a base for registration methods— because they provide the information that indicates when the check-in process is headed in the right direction.
Of course, feel free to apply your basic marketing metrics (KPIs), which are measurable values used by marketing teams to demonstrate the effectiveness of campaigns across all marketing channels.
Attendee feedback and surveys
To ensure that you’re getting the most valuable event feedback, there are lists of powerful in- or post-event survey questions that you should be asking. There are surveys you can conduct during the event by means of imprinting them into the program, introducing them via apps or mobile devices, as a contest, or any other interaction form to track event marketing success immediately.
Tips for measuring event success
Effective event management requires following some useful tips for measuring event success. Here are a few ideas to use in your practice.
Vary and combine your metrics
Looking at event metrics to measure success immediately during or following the event, actual day attendance provides structure and gives a sense of true ROI alongside traditional marketing KPIs, such as Vary Overall event ROI vs. Cost per attendee, etc.
Measure brand impact
Brand measurement may also be viewed as successful tools for estimating the subjective parameters of your event brand execution. In a given market and time, they enable the event organisation to quantify the adequacy of brand‐building movement in reference to brand investment (monetary sources) and brand sway (growth outputs) in the business.
Educate your audience
You can also procure clients by driving advancement toward key objectives in order to acquire new customers. There are a variety of ways to acquire new customers by providing timely and appropriate content and learning events. Help to solve your crowd’s issues by teaching them about your items and arrangements.
Using event apps to measure engagement
How can using event apps help you measure the success of an event? In fact, in a variety of ways:
- Plan event marketing and promotion activities.
- Monitor social media activity when you’re active on social media in the days leading up to the event.
- Provide post-event surveys when you need feedback to know how attendees felt about the event.
- Send out newsletters, email-questionnaires, etc.
- Measure revenue vs. overhead cost.
- Count sales numbers.
- Integrate event apps.
- Gain sponsor recognition.
Professional event apps provide event gurus with all the necessary metrics of event marketing for effective work and positive results.
How we can help you
Global.Sign.in event apps and social media tools to measure engagement and conduct surveys provide all the professional event technologies you need. It’s up to you to choose which one to use and how to measure your success accordingly: the GEVME platform or Judgify awards management service. Either way, you will find out how to measure event marketing success in a variety of ways, including setting SMART goals, using registration metrics, measuring event ROI in different ways, and more.
Utilising our online platform and event apps to quantify commitment and transform your event performance is simple and affordable for everyone. You may also discover how to ascertain event ROI, depending on the working measurements you use, direct surveys, etc. Besides, learning about ROI measurements will enable you to improve your knowledge and be a better event organiser.
Call to action
Measure your ROI in different ways with the help of Global.Sign.in event technologies!
Measure event performance by using top KPIs, learn how to evaluate event success in a variety of ways and determine where you should go next with your event planning strategy. Ask for help any time.
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