Event marketing KPI’s: How to define an event’s success
So the lights are off and the installations are down. Everybody seemed impressed with the speaker and was stunned with his presentations. The food was scrumptious and the band rocks.
It's time to assess!
Measuring the success of an event is the real deal. This is the best time to fine tune all the variables of the event. Find the flaws and work on them as you continue to reinforce its strengths. What is lacking and which areas to improve on?
Regardless of your objective, may it be brand awareness, attendee experience or revenue; these 6 metrics will surely help you evaluate your performance and guide you to the right direction.
So how do you know if your event was really a hit?
#1 Registration and check in
This is the number one source for you to know the success rate of your event. The number of registrations should match the number of attendee check-ins.
This KPI can prevent you from losing attendees early on, if you have an ongoing event.
Examine the different factors why you are losing attendees on the following days and find ways on how to prevent them.
#2 Event surveys
Attendee Satisfaction Survey can say a lot. It can directly tell you what you did wrong and how to make it right. It can be personal and in-depth which is what you would want from attendees.
Ask significant questions to your attendees and get to know what tickles their fancy.
#3 Net Promoter Score (NPS)
While Event Surveys give a valuable amount of information, there could be some difficulty extracting information and gathering insights from attendees with longer questions.
Net Promoter Score is a surefire way to get attendee feedback since is shorter and more straightforward.
On a scale of 1 – 10, scores that range from 9 – 10 is considered “promoters” which indicates great satisfaction from attendees. Scores from 0 – 6 are called “detractors” which implies a negative experience and may lead to bad reviews.
The NPS is then calculated with the below formula:
% promoters - % detractors = NPS
#4 Social media engagement
Social Media Engagement is one of the trending metric that we need to observe. The behavior of attendees via social media, whether through the number of likes or through the comment section can be a great indicator of your event’s success.
Be proactive in using hashtags. They can be a valuable way to expand your reach and create social engagement from people beyond your network of attendees.
#5 Cost Vs. Revenue
The most practical way of measuring an event’s success is through cost and revenue. How much did the stakeholders spend and how much profit they generated will indicate how successful the event is.
#6 Sponsorship satisfaction
Sponsorship satisfaction is crucial because this will dictate the provision of your future events. It is a must to find out how satisfied your sponsors are with the outcome.
Make sure they are visible on your social media platforms and create variable ways on how they can participate in the event with attendees.
About Stride Plus Events
Stride Plus is an events organizing and management company based in the UAE, focused on business, networking and community events.
Learn more about our services here.