The onus is greater now than ever before to measure event impact. Because every event planner knows a successful event can’t be quantified merely by the buzz on the day. Moreover, you need solid proof all that effort and budget led to something valuable. So, the million-dollar questions might be something like:
· Did it generate leads?
· Did it boost brand awareness?
· Did it hit your revenue targets?
At the end of the day, you’re flying blind if you don’t measure event impact. So, let’s explore how to bottle the magic, in turn equipping you to make your next event even better.
1) You Can’t Measure Event Impact if You Don’t Know Why You’re Doing it in the First Place
Pause for a moment before curating the ultimate canapé menu. And ask yourself this: What’s the core reason for hosting this event?
Is it:
· Cultivating connections - Are you creating opportunities for new customer relationships?
· Launching something shiny and new - Is it all about unveiling a product to an exclusive audience?
· Boosting brand love - Do you want attendees to walk away singing your praises?
Your goals dictate your key performance indicators (KPIs). So, think of them as your event's report card. And make sure every decision you take aligns with these objectives.
2) Crunch Your KPIs
There are likely to be many different event elements you’ll want to track and benchmark. But events are a people first thing. So, the following factors are a very good starting point to measure event impact:
· Registration versus attendance - Track registration numbers and compare them to past events. A dip? Check your timing, venue, or promo strategy.
· Look at attendance rates - Did registered attendees show up? Or did they bail? A significant drop-off might mean your date or location didn’t work, or your communication wasn’t clear.
· Analyse attendee engagement - Were the sessions lively? Did Q&As spark though-provoking debate, or crickets? Gauge interaction, whether it’s app downloads or social media shares. Because you’ve got problems if attendees are yawning instead of vibing.
· Repeat bookers - Returning faces are the gold standard of event success. So, keep a close eye on how many come back for round two (or ten). And more importantly, are they still raving about it?
3) Leads, Deals, and Collaborations
The proof’s in the partnerships for corporate events. This is why you need to measure event impact in terms of won and prospective business. You can do these things by:
· Using lead scanning tools - Set up a slick system to gather contact info, without killing the conversation.
· Following up leads – You might as well not bother collecting business cards if you don’t intend doing anything with them! So, make a robust post-event plan to turn warm handshakes into solid collaborations.
Your event can live on way beyond lights out, thanks to social media. For this purpose, get red hot on the platforms where your audiences hang out, and do more of these things:
· Monitor your hashtag for reach and engagement
· Check for mentions, shares, and posts about the event (and engage with them)
· Encourage attendees to tag your brand, (bribes with giveaways work wonders!).
Bear in mind, social chatter gives you instant insight into what resonated with your audience (and what didn’t). This helps extend the event’s impact outside the venue walls.
5) Gather Feedback
Numbers tell part of the story. But qualitative feedback is where the juicy insights lie. For this purpose, feedback forms are brilliant way to gather info by asking key questions like:
· “What was the highlight of the event for you?”
· “Would you recommend this event to a colleague?”
· “What would you change next time?”
6) Keep Sponsors Smiling
Sponsors often foot the bill (or a hefty chunk of it). Accordingly, it’s non-negotiable to measure event impact to ensure their goals are met. But, what do you need to do to achieve this?
· Understand their objectives (brand awareness, lead generation, etc.) and set clear metrics.
· Provide detailed post-event reports showcasing ROI. Yes, it’s extra admin work. But happy sponsors = repeat business.
7) Reflect, Report, Recalibrate
Data can be as dull as dishwater. But don’t let it collect dust. Instead, put it to best use by turning it into something your stakeholder groups are the slightest bit interested in looking at, by incorporating:
· Eye-catching graphs
· Digestible summaries
· Action points for next time
And need we mention the venue is your ultimate wingwo/man? If the venue falls short, so does your event, no matter how brilliant your objectives and KPIs. So, it goes without saying the right venue is the foundation of event success.
Need help? That’s where we swoop in at The Venue Hunters, with FREE venue finding expertise for corporate event spaces in the UK, Ireland, Europe, and beyond.
We’ll help you find the perfect fit to wow your guests with a chic city centre conference hotel or a quirky offbeat venue, and hit all your metrics when you come to measure event impact. So, get in touch today, because event success won’t wait.
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