At its core, event marketing is an indispensable part of planning, focusing on clearly conveying the right message at the right time. While physical events allow for more face-to-face interactions thus promoting the experiential factor, hybrid events can unlock different possibilities such as participation to sessions and presentations through remote access, embracing the power of technology. In both instances, you are able to quantify your event’s success via your preferred set of metrics.
Whatever the format, interpreting event marketing metrics is a versatile and effective strategy that shows real value and helps you massively in forging long-lasting relationships with clients and partners.
After investing time and resources in developing a powerful marketing strategy, how can you make sure your efforts have actually paid off? Here are a few key metrics to keep track for measuring success:
Registrations and check-ins
How did you do in terms of attendee numbers? Registrations actually determine if you marketed your event in a way that encourages ticket sales. Did you exceed expectations? Did registrations increase or were they decreased compared to past editions? Take a closer look at registrations over time to identify which months saw the highest/lowest ticket sales and think about how they are linked to your marketing activities. Taking this one step further, compare registrations to the actual check-ins during your event. This will give you a solid idea on the key demographics allowing you to draw significant insights from your unused registration data.
Gross revenue and cost-to-revenue ratio
Gross revenue reveals useful insights, including attendee demographics, type of tickets sold most quickly, ticket sales peak time and outcomes of other revenue streams. However, all this information is not as important as when it is compared to the total event cost. Creating an impactful, engaging event is indeed the ultimate goal, but aligning it with your budget is the true catalyst for your overall success. The revenue-to-cost ratio will help you understand the quality and quantity of the resources used and help you amend or improve your marketing tactics for the future.
You probably made quite a few connections during the course of your event. Now it’s time to evaluate how many of them are qualified leads and which ones resulted in a contract. By doing so, you should be able to calculate a more accurate ROI percentage from your event marketing strategy, and build on this estimation for future events. Lead acquisition and conversion is a process that lasts throughout the customer journey, so make sure your marketing activities are built around a long-term framework.
Whatever your KPIs are, all events share a common objective; attendee satisfaction and engagement. But first, you need to specify what does “satisfaction” mean for your event and then obtain a clear understanding of how your target audience perceives value.
Whether you are looking for ways to uplift the overall experience, boost engagement or activate your audiences, MCI can help you achieve your goals. For more visit us here.
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