TEAMWORK EVENTS BLOG
Measuring the Success of Your Event
Measuring the success of an event goes far beyond attendance numbers. And while there’s no denying that ticket sales are an important factor, it’s only one piece of a much larger picture. In order to truly understand the success of an event, and how it can be improved, you must establish ways to collect information before, during and after the event occurs. Here are four ideas to measure the success of your event that go beyond the number of attendees…
- Set KPIs
How can you prove that your event was a hit if you don’t set goals ahead of time? Event professionals must identify key performance indicators ahead of the event, in order to measure success after an event. Depending on the type of event, your KPIs may include website traffic, registration code use, social media engagement and more. If, for example, you’re measuring website traffic, have specific data points that you’d like to highlight. When tracking your web traffic, you may want to know which topics and speakers received the most clicks, or you may compare web traffic per session pages with the crowd size at each particular session. The key to reaching your KPI goals is planning for them ahead of time.
- Have more than one feedback form
We’re all familiar with follow-up surveys, emailed in the days after an event concludes. But in order to get the most accurate data, it’s important to cater your feedback forms to your audience. If your event is attended by a social-media-savvy group, consider using Twitter as a method of receiving feedback. For example, if someone is complaining on social media as the event is happening, you can respond with a link to this feedback form and collect that intel in real-time.
Also, don’t forget to ask for feedback from sponsors and exhibitors. Exhibitors want to feel that they are an essential part of an event—not an afterthought. Feedback directly from exhibitors can reveal whether or not they are likely to return and continue investing in your event.
- Collect data
When you collect data before, during and after your event, you’re setting your event up for success at every stage. The type of data that you collect varies based on your goals, but by collecting data, you’re able to tailor experiences for event attendees based on information that they have already provided. This makes for more engaged attendees—and who doesn’t want that? With all of the event technology available to event professionals, the way that you collect data may be as complex as setting up heat mapping tech, or as low-tech as facilitating focus groups. No matter which route you take, ensure that data collection is a part of your event plan from the start.
- Calculate registrations and revenue in real-time
Many would argue that revenue is the main KPI for event success, along with total attendance. It’s important to measure your initial revenue goals against your actual revenue. Use your resources to set benchmarks for your event based on industry standards and understand if your goals are reasonable. Be sure to also consider your cost to revenue ratio.
The total number of registrations is one of the most immediate ways to measure event success. It is also important to track registrations on a regular basis to have a clearer understanding of sales performance over time. Which month had the highest registrations? Did you run a promotion during that time? The more detailed you are, the more clarity you will have into your event’s success.
No two events are the same, and no two events will be measured the same way. Ultimately, your event’s success depends on your goals. Without clear, achievable goals, there’s no way to measure your event—so make sure to plan ahead!