The best event planners understand that the only way to improve event results is to first measure, then analyse them.
We spoke with event planners from around the globe for their advice on what critical event data event professionals should take note of, and these were their top 3 picks.
Where did your registrations come from?
Event marketing can take up large chunks of budgets, but how effective is your marketing, really? Unless you’re measuring this, you’re missing out on important information, such as:
- Which marketing platforms have been effective?
- What marketing content/messaging/promotions have been working?
- Where should I focus future marketing efforts on?
- How can I improve results next time?
Have a call to action in your marketing materials, and make their registrations/sign ups trackable. This way, you’ll be able to find out precisely where your event attendees are coming from – and decide the best ways to spend your marketing dollars next time.
What’s your revenue to expenses ratio?
Ultimately, the goal in most commercial events is to deliver financial results. This can be through direct sales (at the event), follow up sales, or an increase in brand/product recognition, leading to future purchases.
While event costs are easy to account for, (direct and/or indirect) earnings from events is not as simple to calculate – that’s why many companies skip doing so.
This shouldn’t be an excuse though. Whenever and wherever possible, measure the results you’ve achieved and find out how much additional income an event has delivered. Then contrast that against your event expenditure.
If you haven’t done this before, use your next event as a baseline measurement – then benchmark future targets and results accordingly. Challenge yourself to improve your events’ your revenue to expense ratios for improved profitability and ROI on your event spending.
What did people say?
Attendees’ feedback can provide incredibly valuable clues as to what worked at your most recent event, and what didn’t. After all, your entire event was put together for your attendees – so why not ask them which areas they found valuable (or lacking)?
Getting high quality feedback requires effort in a few key areas, namely:
- Question design: You’ll need to ask the right questions. Be to the point (audiences usually wouldn’t spend more than a few minutes answering feedback surveys), but in-depth enough to get quality responses.
- Feedback collection: If you’re giving out sheets of paper and pencils when asking for feedback, you’re doing it wrong. Use an event app to greatly improve the quality, speed, accuracy and number of responses you’ll collect from participants.
- Data analysis: This is where it all comes together. Raw data is relatively useless without a detailed report that you can analyse, learn from and base future improvements on. If you’re working with anevent app provider, make sure they’ll also able to provide a detailed report of your feedback results.
Remember, the only way to improve on something, is to first measure it. So use these metrics to measure critical event data, then make your next event even better !