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How to measure event Success

| Articles | March 18, 2014

Event-Management-Software-Blog-How-to-measure-your-event-Success-Organizing an event requires careful planning, executing and diligence. Equally important is how you evaluate your event after it has come to its conclusion. A good evaluation can help you understand how your event was perceived, what you did well and in turn which areas need improvement.

In order to do so, event managers must have a clearly defined set of goals. Organizing an event without clearly defined goals is like running in a race with no finish line. Event goals can be related to anything associated with your event, but as a guideline could include attendee satisfaction, event budget and event turnout. If you event is a networking event, look to include business leads as well. Although not always possible, try to make your event goals and objectives measurable, time bound and specific.
This article focusses on online, offline and event planning software solutions that help measure the success of your events.

Measure online feedback

Measuring online feedback is both easier as well as more important than ever. The online community provides a wealth of information about how your event is being perceived.

Measure attendee satisfaction

When it comes to attendee satisfaction, your event is only as good as people experience it to be. Online surveys are great tools for getting measurable data on what attendees liked and disliked about your event.

Event Return On Investment

Albert Einstein once famously said: “Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted.” This holds especially true when it comes to measuring the Return On Investment of your event. ROI can not always simply be defined as the cost associated with your event compared to the amount of revenue it generated as a result.

There are different ways to calculate the ROI of your event depending on the goals and objectives you defined at the start. For instance, a charity event may define its ROI as the amount of awareness it brings towards a certain cause whereas an event demonstrating a product may define ROI in terms of how much press coverage it generates.

While methods of determining event ROI may vary depending on the type of event you’re organizing, as a rule of thumb you should always include your Return on Objectives (ROO), a tracking system, suitable measuring tools and an assessment sheet to evaluate your goal.

Compare your Event Blueprint

It is always important to assess if the outcome of your event met the goals, objectives and outline of your event blueprint. This will not only help you assess the success of your event, but also the completeness of your event blueprint. If your event blueprint and the outcome of your event differ greatly, perhaps your blueprint was poorly constructed. Use this as a learning experience when dealing with reoccurring events.

Utilize Event Planning Software

To eliminate mistakes, look for an event planning software tool which can help you build a cloud based event blueprint. The benefit of using event planning software is that it will allow you to create re-usable event templates which include the most successful part of your events and update it in realtime.

Event Business Leads

Gathering a business lead is not simply collecting business cards. The quality of your leads depends on the effort that the prospect has gone through to interact with you. If you event is focused on networking, try to assess the amount of leads converted to sales.

Be sure to create a business lead form and a strategy to calculate your return on business leads. Your business lead form should include important information about your business leads, the current situation (e.g. what are your areas of interest, and how can you offer a reciprocal benefit), as well as a plan on how to follow up with these leads.

When calculating your return on business leads, always remember that new business comes from two sources, new clients as well as existing ones. In some cases you may not have been successful getting business from new leads, but perhaps you will have secured new projects from existing clients.

Calculate Economic impact

When measuring the economic impact of your event, you not only look at the revenue your event is generating, but also look at additional factors such as the cost and effort attendees have to put in to travel to your event. Event Impact provides a useful economic calculator help measure the economic impact of your event. Like any of your other data researches, the results will only be as good as the quality of the data you enter.

Measure event turnout

Whatever your event goals and objectives may be, chances are they will depend for a large part on the turnout your event generates. Depending on the type of event you’re organizing, the type, amount and quality of your RSVP’s may be an important part in measuring the success of your event. It is therefore important to have a mechanism in place to help you streamline this process.

Try to automate RSVP’s by using event planning software which focusses on event registration. There are number of excellent tools out there.

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