How to Calculate your Event Performance & ROI

How to Calculate your Event Performance & ROI

Measuring the success of your event is essential in determining what you are doing well and where you need to improve on. Before you host an event, define the goals that you want to achieve, which you will use key metric indicators to evaluate whether the goals were accomplished.

Event goals could be different for each organization like increasing brand awareness, generate revenue, and lead generation and so on. Here are some key metric indicators that you can use to measure the success of your event.

Social media engagement

Social media is a great tool for measuring the success of an event. Key metrics indicators can be tracked to show the engagement rate. This can include the number of likes, engagement, hashtag usage, link mentions and etc. Tracking all of these can be done by social media monitoring tools like hoot suite and social sprout.

Press coverage

Positive press coverage is also a great determinant of event success. It builds the legitimacy and trust of the event and more people may want to attend the next one. In addition, great press coverage also improves the visibility of your brand among the audiences that would want to target.

Total attendance

 Every event organizer has a rough estimate of the attendees who’ll come for the event. This could be determined by the number of tickets sold or online registration made. If the actual day attendance project is more than what was expected, then it could mean a great event success.

Attendee satisfaction

The success of your event can also be measured by gauging the attendee satisfaction. Tools like survey forms are the best way to gather data. In order to gather more valuable feedback, ask direct questions and using multiple questions where the attendees won’t have to rack their brains to come up with an answer. There are many tools that can be used for surveys for Google forms and survey monkey.

Sponsorship satisfaction

Sponsor feedback is important because sponsors invest a lot of finances in your event. If you are using a mobile app, you can measure sponsor engagement through the number of clicks and CTA that they got from the app. You should also have a sit down with your sponsors, instead of sending a survey form, to get their impression. 

Returning attendees

The attendee data obtained from the previous events can help identify the returning attendees. A high number of return attendees means that you are providing value in your events. Reward your loyal attendees by giving them special recognition. This could be discount code to the next event, pre-printed badges or even sending a gift hamper to their office.