With all of the hard work that goes into setting up a live event and managing all the moving parts. How can you be sure all of your hard work pays off? Well, first you need to define just what it is you determine as ‘success’.

There's many reasons to attend an event: a new product launch, raising brand awareness and lead generation to name a few. If you don't have an idea of what you'd like to achieve then you're probably taking a wrong step before event attending the event.

Defining KPIs will help refine your budget, the type of events you attend and the design and function of your presence at events (sponsorship, exhibitors, speakers etc.). Carefully considering all of this will likely boost your event ROI and help you measure the overall success to adapt future strategy.

Defining success

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When looking to define success you need to ask yourself, what is the desired outcome for your brand? Once established you can then go onto how you’re going to measure whether your event achieved this goal or not.

For example, if you're launching a new product you might want to achieve greater brand awareness, alternatively depending on your product type, you might be looking to generate leads. Deciding between metrics will then form your measurement strategy.

“84% of marketers say that attendee engagement solutions are the biggest trend in maximizing event success”
Event Genioso

Considerations beforehand

Many brands will be using outdated methods to measure success, maybe scanning visitor badges, collecting business cards or simply using a list of attendees from the event organiser. But this information will be missing who in your staff collected the data, what specific products or services they're interested in and naturally it will take a day or so before you can follow up on this data, especially if you're manually typing in data from business cards.

The tools and systems with which you are going to measure these event KPI’s must be chosen based upon goals. By integrating your CRM system to support your measurement plan you can be sure to have a secure place to store this data for later evaluation.

Determining how often these measurements are carried out will also need to be decided upon, just carrying it out the once will mean missing out on valuable evaluation of periodic intervals. Sometimes leads will take more time (typically bigger sales will have a longer close time) to close, effecting the overall number of sales you may attribute to an event. Similarly comparing Standardisation of metrics “from event to event will provide more accurate benchmarks for the future.” itagroup

Once all of these have been established you can then go onto how you’re going to measure whether your event achieved these pre-defined goals or not.

Measurements of Success

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There are a few metrics that fall into different categories you can use to track the success of your event. The two types of data you will be measuring are quantitative or qualitative, quantitative data can be verified and used for statistical manipulation (think numbers of leads, value of sales) and qualitative data is defined as data that approximates and characterizes (observations of behaviour and open ended comment style questions). Ideally a mixture of both data types will give you the fullest picture of success.

Below are some typical marketing goals and how they can be refined down to measurable KPIs.

Awareness

  • Social Sentiment Monitoring: Measuring brand reach and product awareness after an event can be achieved through social monitoring of brand/product name mentions and the sentiment tied to it (positive or negative). To do this effectively you would typically need specialist software like Brandwatch or Digimind.
  • New visitors online and offline: New visitors to your website can be easily measured in Google Analytics, increased footfall in stores and app downloads would have the same indication. Additionally monitoring press mentions can be a good way to assess brand reach.
  • Attendee Satisfaction Surveys: You can just ask your attendees whether or not they enjoyed the event. It seems basic but, by getting an answer yes or no and if so, what they got out of it you are able to see if your intended message got across.
    • Asking ‘specific’ or closed-ended questions and numeric responses will make data quantifiable. An even simpler and elegant solution is to utilise an NPS (Net Promoter Score) We’ve all seen these, the surveys that are just a scale of 1-10 and ask questions like ‘how likely are you to recommend to a friend?’

Sales

  • Event check-in and number of active members in the community: By comparing the number of check-ins with the total number of registrations you will be able to quickly define a clear definitive statistic on conversion rates. By taking it one step further and seeing how many of these registrants are active within your community you can see how much engagement your product/ service inspires. Factors like the time spent in your app are a good place to start.

Leads

  • Using an event lead capture app: Data capture software will allow you to monitor leads, by event, by sales person and by region, making it much easier to analyse event success. In addition to turning paper forms digital, a data capture app can also be used on your own Apple or Android mobile device allowing you to do away with the cumbersome scanners.
    • By making these forms easier for your customer to fill out you're maximising your face-to-face opportunity rather than worrying about securing reliable data and it will inevitably be a quicker way to get your data to your CRM enabling more effective follow up. Our data capture app has OCR scanning enabling business cards to be quickly and easily transferred to your system for fast personalised follow up.

Adapting for the future

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The event planning process should be a cyclical one, it's not a cemented plan that won't change. You should be aware of the fact that mistakes will happen but taking every opportunity, you can to learn from and act upon it.

Either by catching problems at your current event and altering the problem elements before noticed. Perhaps this means your attendees think the coffee tastes gross on the first morning and you can swap it out for something better on day two. Alternatively you will catch problems after your event is over, use what you learned to guide the strategy of your next event. For example do your attendees dislike/like the keynote speaker? Take their feedback and find someone new next time.

If you're looking to quickly capture data for analysis to determine the success of your live event, Get in touch about our data capture solutions.

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