The most crucial & important aspect of an event whether it is virtual or physical is to measure the achievement or success of that event. A successful event takes a lot of hard work, manpower & dedication so it is necessary to track success for future event improvement. Key performance indicators(KPI) are an industry-standard tool that helps to analyze some specific success metrics & measure event performance & success on a different level.
To identify your event ROI, you must have to set some metrics that are usually known as KPIs. KPI helps to provide actionable insights that actually indicate the success or failure of your event. When you collect KPI data for a long period of time, you can actually figure out who is your targeted audience & what marketing strategy works for your event as well as business activities. Also, it gives valuable insights on how you can make your future event better & more successful. To create some actionable KPI, the event planning stage is the preferred time.
It happens that, around 91% of the time, organizers set the engagement of the present attendees as the success of the events. However, there are other metrics that you should know to track event success & measure positive ROI. In this article, we are going to share 7 essential KPI metrics to measure your overall event success.
Top 7 Event Success KPIs
Selecting event KPI depends on the type of event as KPIs vary depending on the industry, company & the objective of the event. Collecting the right indicators is necessary to determine success. Have a look at some key KPIs.
Event KPI 1: Event Registration Goal
The first & the basic success indicator of an event is the number of registrations or number of tickets that have been sold. As an organization, you should the people who have an interest in your event. It is one of the quickest & efficient ways to evaluate your event success ratio. It also helps to understand the sales performance clearly. Additionally, when you go through the details of the registration analytics you will get to know which timing is preferable to show advertising that eventually gets you plenty of event registration.
Event KPI 2: Number Of Event Attendees
Calculating the number of event attendees is the second basic indicator, the organizer should follow. If you organize a virtual event then track the check-ins & for physical events calculate the number of on-site participants. A number of attendance of registered attendees, guests, sponsors, and speakers provides an initial success of the event. A comparison between the number of check-ins & the number of registration actually provides important insights about your event. Tracking the number of attendees gives a rough return of a scenario if you divide the total expenses of the event by the number of attendees, you will get a rough estimation of how much you spent per attendee.
Event KPI 3: Feedback or Post Event Survey
Collecting attendee's feedback or survey in the event is the simplest yet significant step to evaluate your event by quality. You can ask questions to the attendants about any specific speakers, content, or purchased item. In this way, you can understand how much satisfaction your participants have gotten through your organization & event. This specific event KPI will help you to determine attendee satisfaction, the ratio to come back for another event & how likely they will recommend your next event to others.
Event KPI 4: Activities On Social Media
Nowadays social media platforms not only play a powerful role in marketing but also work as a standard success indicator for brands. With the help of social media mentions, hashtags, and content sharing of your event by the attendees you will get free promotion of your company as well as your event. Take a close on who talks about your event & how they represent your brand to other followers. Evaluate in which channels you receive more attention or more engagement of your event highlights. To analyze the social media engagement, measure the new subscriber of your channels, and the number of likes, shares & comments. By tracking these key factors you can also identify what type of content works well while arranging events for your targeted audience. Also, it helps to improve online communication thoroughly.
Event KPI 5: Email Opening Rate
While you are planning for event promotion, email marketing is the most effective tool you can use. Hence it becomes a powerful KPI for your event's success. So, the question arises how can you measure this KPI? You have to simply analyze the email open rate and the click-through rate of your registration form that you have attached with the email body. CTR button indicates, how many email receivers click on the link attached with the email. For example, you have sent 500 emails to your newsletter subscribers. From which 250 people opened your email. Now, only 150 people click on the attached link & 50 people actually registered for your event. Now, you have a gross estimation of who you have to send the event invitation mail to & who you have to send again reminder email to register for your event. So, it indirectly boosts the registration rate of the event.
Event KPI 6: Conversion Rate Of Your Website
Your website is an essential contact point for your targeted participants no matter what type of event you are organizing. From your website analytics, you can evaluate how frequently people visit your event registration page and the demographics of the people who actually buy tickets or registered for your event. After a successful event, you will obviously see a huge wave of web traffic on your website that you can measure with the help of Google Analytics or other tools. Also, you will get an increased number of online searches. These metrics prove that your event was able to grab your potential customers' attention which further leads to ROI.
Event KPI 7: Increasing Number Of App downloads
Now, if you develop an app for your event activity purpose, this can be a powerful event KPI metric for your business. Though an individual app doesn’t have any higher cost for the organization participants can get a central platform for the event where they can see how many people are attending the event, the gust & speakers lists- in a nutshell, all the insights at a glance. So, the participants who already registered their place from other channels will eventually get the app for further event updates & reminders.
How Can Royex Events Help You?
Royex Events is a feature-rich & leading Event ticketing and management system in Dubai, Saudi Arabia, and Qatar. It will provide you with an extensive ticketing system through multiple ticket categories. Also, this online event management system enables you to organize events like single-day events, Multiple Day events, multiple-day events with multiple agendas, seat management, POS system & live statistics. Through powerful dashboards, the admin can seamlessly control the number of events with graphical views & live data analysis. One point is worth mentioning, you can customize pricing depending on your event needs.
If you are looking for a reliable, secure, and affordable online event management system, get Royex Event today!