Companies conduct corporate events to spread awareness about their brand. A lot of time, money, and resources go in them, so you naturally expect some returns. In this Capterra article, Nick Morpus discusses 5 KPIs that tell if your events were a hit or a miss.
Were Your Events Popular?
It is important to measure event ROI as it will let you know what worked for you. Also, you can avoid doing the current mistakes while arranging for the next set of corporate events. Following are the 5 KPIs that will assist you to know if your events were a hit or a miss:
- Number of Attendees: The best way to understand if your events went well is by counting the number of people that attended them. If the events occur frequently, you can compare the previous data with the current to see the growth rate. Compare the number of the registrations against the number of attendees. Understand if the registered users and attendees grew year-on-year. If there is a huge gap in the numbers of registered users and attendees, investigate the root cause. RFID and iBeacons can give more accuracy in your counting.
- Traffic on the Website: Online offers and push notifications are a great way to increase your company’s website traffic. It can also lead to an increase in product sales, donation drives, and subscriptions for future corporate events. Use WordPress, Squarespace, Google Analytics, Kissmetrics, and Adobe Analytics to measure website traffic. Session numbers, new session rates, sourcing channels, bounce rates, engagement rates, devices used, etc. should be in your measurement list.
- Social Media: If your events have been a success, you can see the effect on your social media accounts. Also, you can use social media to increase the hype for your future events. To engage the users, respond to them on Facebook or tweet and share behind-the-scenes Instagram pictures. Facebook page insights and Twitter analytics will show how popular your events were on social media. Measure likes, retweets or shares, the growth rate of followers, impressions, mentions, and demographics to get the real picture.
- Survey Feedback: The best time to send feedback is soon after the events when things are still fresh in your attendees’ mind. Simple questions like if they enjoyed the food, the insights shared by the speakers, etc. can spark responses. Also, ask them what topics they would like your company to cover in the future events. Survey Monkey, Google Forms, and Zoho Survey are the survey software tools you can use for this purpose.
- Cost/Revenue: Measure if you have generated enough revenue to cover the cost of the events. Look beyond ticket sales and check if your product sales have increased after the events. Event Kickstart, Cvent, and eTouches will help you with the budgeting.
To view the original article in full, click on the following link: https://blog.capterra.com/5-metrics-that-will-determine-your-event-roi/