“59% of marketers claim they have no way to measure event ROI.”– “The State of Event Marketing”, Hubspot and Eventbrite 2014
Although, there isn’t a universal model to track your event success, a standardised approach has been developed from the market research firm FairControl to enable you to translate your business needs into key performance indicators. This allows you to measure your respective target achievements and to get a holistic view on the strategic alignment of the event towards your goals. Since your KPIs can be incredibly diverse, it is essential to create your customised measurement strategy around them.
“There are still clients who don’t believe that you can measure the success of an event. You definitely can. Today, we have the instruments, the tools and the methodologies to measure.” – Jakov Cavar, Managing Director FairControl
Some quantitative KPIs are much easier to measure than others. For instance, if your objective was to attract more attendees to your event, attract more senior level attendees, or attract more millennials, then this data should be relatively easy to extract from your event registration system.
If you wanted to attract a certain number of leads, you’ll be able to monitor your pipeline and track data based on pre, during and post event.
More qualitative KPIs can be more complex to measure, such as those focused on attendee experience, brand sentiment and engagement.
However there are a number of techniques to help with measure these important KPIs, while also crunching pure data.
Top Five Measurement Tools for Events
1) Interviews and surveys
Face-to-face interviews with participants and online surveys (pre, during and post event) are a great way of gaining both quantitative and qualitative data about your event.
Using state of the art survey technology or mobile apps will help you understand specific attendee preferences and experiences, whether that’s event sponsors, VIPs or exhibitors, to better target the different audience needs.
Additionally, you can get deeper insights into brand and communication perceptions as well as program and content engagement levels, which will unveil improvement potentials for future events.
2) Attendee Tracking
If you’ve been using crowdsourcing techniques such as real-time attendee tracking, your attendees’ will be able to show you what they think about different aspects of your event, rather than just tell you through a survey.
You can see which stands were most popular, and which engaged attendees the longest; which sessions attracted and retained the highest number of attendees. You’ll see which networking areas were the most popular, and how people moved through and engaged
with your event as a whole.
If you’re using innovative RFID wristbands, you can even check which speakers got people’s pulses racing, and which ones left them flat!
3) Social media engagement and sentiment
Based on your channels and content, you can track social media sentiment, social media engagement rates, number of #impressions, and number of shares from your mobile app.
4) App insights
If you used a mobile app, you’ll have a whole host of attendee activity that you can export to provide data-driven insights. You can track popular content through number of downloads, as well as tracking usage of networking or chat services and other popular features.
If gamification has played a key role in your event, this will also provide a wealth of data, from engagement levels, to understanding of key messages, to ‘super users’.
Tip: Complementary data that doesn’t at first seem tied to KPIs can actually provide interesting insights. Check out all of the data from your integrated event technology or event app, and see what it can tell you.