By Sangeetha Shreekar
The success of an event can be measured in multiple ways. However, it is recommended that an even planning has predefined KPIs to ensure the objectives are agreed by all the parties involved before the commencement of the event.
When determining and defining the KPIs (Key Performance Indicators) the goals determine the success of the events. The KPIs are carefully chosen based on the type of the event as well. We list you the most commonly used KPI categories which can be further split to individual KPIs:
- Attendee KPIs: The most common of them all can be further split as registration, demographics, turnout percentage and page views. The online/hybrid events could also be further analysed for the drop off, device/platform usage.
- Financial KPIs: The ROI driven KPI impacting the bottom-line of every event. The measurable results of this can range from tickets sales, refunds to donations raised if it’s a charity event.
- Marketing KPIs: Data driven marketing relies highly on these KPIs. It also sets the standard for the repeat event success. The digital marketing paves way to capture the event marketing success in terms of email open rate, website traffic, discount codes used/sources to the social media mentions.
- Engagement KPIs: The digital/hybrid events have amplified the measuring of event engagement. The score cards post event are now replaced with live polling responses, drop off rate, total sessions replay and session feedback surveys. More effective and more accurate.
- Tradeshow KPIs: The traditional footfall counts now being measured with cost per leads, CTA click, the website hits from the QR code used at the show. The right marketing KPIs will also ensure prebooked meetings ratio to measure the success of the show.
- Net Promoter Score (NPI) – The post event surveys are still logical. The engagement KPIs listed above does get the pulse of the audience, however the NPIs could be used for repeat audience and word-of-mouth on event promotions. It can be calculated as below
% promoters – % detractors = NPS
- Speaker engagement: Utilizing an event app will provide an insight about the speaker/performer based on profile visits. If the speaker doesn’t resonate with the audience, the presentation wasn’t a success.
KPIs support the success of the event. Having the goal set will ensure a thorough checklist is in place in planning and execution of the event to meet the required KPIs.
At PLANIT, we work closely with every client to understand their objective and ensure we have agreed on the KPIs for the outcome of every event executed, irrespective of the size of the audience. If you are thinking of your next event, drop us an email at info@planit.ie and we give our clients the peace of mind that we will flawlessly execute as a team working closely with them their projects.