One question many event organisers and marketers ask us is “What is the best way for us to measure the ROI of our event?” Luckily, we are in an age where event data and analytics are easy to find. When completely utilised, you can use this information to quantify the results, demonstrate your ROI and create insights that you can turn to in the future. Here, we have five ways in which you can analyse your event marketing for ROI.
Analysing your Event Marketing: How much revenue did you generate?
In some cases, you need to demonstrate numbers that justify your event budget with confidence. A great place to begin would be to assess the ticket sales and registration. You can measure the sale performance by looking at the total number of tickets sold and the resulting revenue. Or, you could compare the number of those who registered with the number of those who actually attended.
Did your Sponsors see Value in your Event?
The success of your event can be found in the success of your sponsors. With many of your sponsors investing such a large portion of their marketing budget towards your event, it’s important to show them metrics that prove the value and success of the sponsorship. By giving your sponsors clear insight into the benefits they received by supporting you, they are more likely to work with you again.
How did your guests Engage with the Event?
This measurement can be used to predict the likelihood of your guests returning next year. When you completely utilise your social wall, you should encourage feedback, questions and more at your event. Having a social wall is a wonderful way to monitor event engagement to see what areas of interest gained more popularity, what didn’t work and what may need to change next year.
Could guests Network with each other and Connect?
Was your event designed to create an environment for networking? Again, your social wall is a great tool for this! Take note of those who send digital shout-outs to those they met at the events. In addition, you should talk to your sponsors post-event to see how many clients, customers or other business prospects they made.
Was it Fun?
At the end of any event, there is one important question on every organiser’s mind: “Did my guests have fun?”
This is something that can be measured in many ways. One, of course, is by looking back on social media to see what everyone has been saying. As mentioned, your social wall should help to encourage guests to share their thoughts during the event, but it’s also good to see what’s been said afterwards. This is because people are more likely to be honest online when they don’t think it will be displayed in front of those around them. Another way is to look through your feedback forms to see, again, what did or didn’t work and what could be changed.
Get Feedback Ready with Social Sticker
Now you know what areas you need to identify to analyse your event marketing and ROI. We hope you found this guide useful and are ready to put together an event designed to succeed. One area we highly recommend you cover is having a social wall for optimal event feedback. If you’re not sure how a social wall works, why not check out our demo? Once you have given it a try, sign up to Social Sticker for your next event.