Measuring the success of your event is an important step that shouldn’t be overlooked since it helps to ensure that you’re delivering on expectations for your attendees and exhibitors.
Maybe you’re looking to increase brand awareness, drive revenue or simply ensure that your attendees have a great time at your event. Whatever your goal, you need to know whether your event was a success or not to be able to improve on and do even better in the future.
But how can you actually see whether your event was a success? Below are some of the main ways…
Monitor Social Media Activity
It’s pretty obvious that you should be active on social media in the days leading up to your event anyway since this gets your attendees excited and talking about it. However, it’s equally important to monitor the activity on social media after your event.
Are those who attended your event still posting using your event hashtag? Are your followers more active than they usually are since your event? It’s also a good idea to read what they’re saying about you online, are they all positive comments or are people complaining?
Looking at social media activity is a great way of working out whether your event was a success or not since you’re finding out peoples honest opinions. Additionally, you could even follow up with a special incentive, such as a discount on your next event, as a thank you for those who attended. The number of guests that take advantage of the offer is another way of measuring how well the event went.
If you want to know what your attendees truthfully thought about your event, why not just ask them? The simplest way to do this is through post-event surveys. You could ask questions such as “after attending the event, are you more or less likely to recommend company products and services to family and friends?” or “are you more or less likely to attend our next event?”
With post-event surveys, you are able to get a more general idea of attendees’ opinions which can help you identify any weak points that can be improved on.
Measure Revenue vs Overhead Costs
The aim of most events is to bring in additional revenue. However, to make money, you have to spend money, and it’s very easy to spend more than you bring in. When measuring the financial success of your event, you should look at your anticipated costs vs your actual costs, your anticipate revenue vs your actual revenue and your actual costs vs your actual revenue.
However, it’s important to bear in mind that going slightly over the budget or earning slightly less revenue than anticipated doesn’t automatically make your event a failure. You may, for example, not have brought in as much revenue as anticipated but did acquire far more sign-ups to your email newsletters, which in turn helps to generate more sales and revenue.
Another aspect to measure is the efficiency in planning your event. For example, did you spend too much time sorting out the smaller areas of your event and ended up spending too much time and money? Be sure to review this since it can be beneficial in ensuring your event is even more successful in future.
It’s a good idea to monitor your sales numbers in the weeks following an event. Is there a sudden increase in the figures? And are the purchases from repeat customers, first-time customers who attended your event, or past customers that returned after an absence?
Aside from the sales figures, a good indication of event success is looking at the number of sign-ups for your newsletters and email or phone call enquiries.
So there you have it, some of the main KPIs for measuring the success of your event. Deciding on which of these KPI’s to use depends on the goals you’ve set, however, it’s a good idea to use more than one KPI to ensure you’re looking at all angles.
Booking your perfect venue is one thing, but why not let our expert team work alongside you and help plan your event. Here at Winter Gardens Blackpool, we have a range of support services available to help make your event a success.