After breaking your back in planning and executing what is probably your best event yet, it is time to measure its success. It looks like a lot of work but the success rate of an affair is actually easier today than it was before, given that we already have the Internet and social media as major go-to platforms for determining popularity and audience engagement.
More than for the gratification of the event planner, it determines the value of the event itself. In fact, success can be used to find out the client satisfaction rate and is also a great way of determining how you can enhance the next affair you will plan.
To help you out, here are five ways to measure event success through various channels.
An event’s attendance is the first indicator of whether it achieved its goals. Determining the number of people registered on-site, the total number of tickets sold, and returning attendees for recurring events is tantamount to the level of your event’s success.
Of course, it is important to note that this is both an absolute and relative. Make sure to compare registration and ticket sales with actual check-ins during the event. This way, you can determine if there is an unusual discrepancy in the numbers that may indicate improvement opportunities with the affair.
- Guest Survey
A survey is probably the oldest way of determining satisfaction of a certain product. This rings true for events as well. While it may be an old method, it has advanced into something more technologically-inclined as surveys can now be done remotely.
This means you won’t have to hand out pieces of papers that are more likely to be thrown out than filled up. Virtual surveys are most effective with specific questions that are answerable by yes or no. Also, remember that people may not have time in filling up digital forms, so make their lives easier by making it a multiple choice.
- Social Media Activities
Social media has become a powerful tool in almost everything in the world today. In events planning, it has been used as a great way to determine the success rating of an affair. Thanks to the innovations provided by companies like Facebook, Twitter, and Instagram, you can now easily factor in an events social media presence by simply asking your guests to use a specific hashtag.
Checking in or tagging sponsors and event performers is also another way to engage people about your event on social media. There are countless numeric responses you can use, so make sure to maximize them to determine your event’s success.
- Sales Revenue
The amount of money brought in by an event is another key performance indicator for its success. This includes gross revenue, the cost to revenue ratio, sponsorship satisfaction, and many other monetary return statistics. This is particularly useful for events with goals focused on increasing product sales and patronage. Of course, you should break down these statistics based on key factors like promo codes, sponsorship, and sales lead to come up with a more detailed report.
- Media Coverage
Last, but certainly not least, is the media coverage. The hype built during marketing through various media is different from the media coverage during the actual event. However, the comparison between the determined extent of coverage before and after the affair can work wonders with your event KPI.
A positive media coverage is also a great way to boost your next event’s popularity and, eventually, revenue for the company. It is one of the ways to raise brand awareness, next to social media, as it provides target audiences with more detailed information about the brand.