Monitoring how your event performed is key for ensuring you learn from what went right and what went wrong for any events you hold in the future. But what exactly should you be monitoring? If you’re only monitoring total revenue or the number of tickets you’ve sold, you can’t actually see clearly what your marketing and event performance is actually like.
So, give yourself the best chance of growing your audience and boosting your event’s return on investment with these key performance indicators (KPIs) for event management.
KPIs to look at before your event
The chances are you already have an idea of how many tickets you want to sell for your event. Using the following KPIs you’ll be able to make sure you stay on track and make smart decisions about your promotion strategy.
Sales by ticket type
It’s a good idea to monitor how many of each ticket type you sell in the lead up to your event. Your ticket types will depend on your event but they could include early bird, VIP and general admission. This can give you an idea of how prices affect your ticket sales and which ticket types are the most popular.
Sales by marketing source
This KPI is all about looking at which marketing channels lead to the most sales. This could be through email, social media, your event website, or any other form of marketing you’re doing. This is worthwhile monitoring as it can help you determine which channels are delivering the best ROI for your marketing spend.
It can be both interesting and beneficial to find out where your attendees are travelling from to attend your event. This can be useful to know where you should be targeting your advertising methods in the future, as well as looking at other potential locations for events in the future.
Email marketing engagement rates
When done right, email marketing can be a really effective tool for promoting your event and increasing awareness. Looking at open rates, click-throughs and unsubscribes can give you insight as to how well your email marketing is performing. You can find out more about email marketing for events here.
KPIs to check after your event
Once your event is over, it’s time to look at how successful it was and whether you met the goals you set for yourself. The following KPIs are useful to look at to monitor performance.
Compare the number of registrants you had to the number of attendees who actually showed up. While some people will simply have had a change of plan, if there’s a big difference between the two, it could be a sign of an issue that needs looking into.
This KPI is the simplest way to measure the success of your event and is a must when monitoring your event’s ROI year to year. To calculate it, simply subtract your expenses from your net revenue.
New vs returning attendees
The KPI is important as it helps you see whether you have a healthy flow of both new and returning attendees. People can lose interest in events and so some people will stop attending, however, if all your attendees are new, this could be a sign of a problem with your event.
KPIs from feedback surveys
Once your event is over, you should always send out a feedback survey to your attendees. KPIs from these surveys can include satisfaction, intent to return and whether or not people will recommend your event to others.
You can view our event venues here and find out more about how Winter Gardens can provide the perfect venue for your event.
Here at Winter Gardens, our team are well versed in event marketing and can help you plan all the finer details of your event. Find out more about our marketing services as well as the other services we provide here.