Finance

How to Effectively Measure Live Event Performance

Live events are an essential part of many company marketing plans, and calculating the effectiveness of a particular event has always been a grey area. As live events suck up most of the marketing budget, we need to know how effective they are, and if this is a problem in your organisation, here are some helpful tips to assess the performance of an event.

Event Analytics

In order to understand the performance of any event, one has to dissect it and analyse the data. This would begin with the number of attendees, then you need to find out who they were and more importantly, what they did during the event. Perhaps you ran a PowerPoint presentation, with handouts or downloadable PDF versions, and was their participation active or passive? All this data can be entered into a software application that can analyse the performance using a range of fields.

Constructive Feedback

Every time your company hosts a live event, you should ask all the participants to complete a post event survey, which will give you the best feedback. The questions should be designed to cover every aspect of the event, and if you wish to effectively measuring B2B events, you can send out the post event survey by email the following day. Of course, you cannot please all of the people all of the time, but collating this feedback will help you identify high or low points, and this will enable you to make improvements that are based on the opinions of the participants. Your guests might be other companies that you do business with on a regular basis, or it might be a drive to launch a new product or service and you are trying to promote the new line to the general public, but one thing remains  constant, you want maximise the benefit and attract a high level of interest.

Measuring Event ROI

While it is possible to measure the ROI of a particular event, it becomes so much easier if you use the right software. The valuable data you have collected from your participants is added to other criteria, such as the cost of the event and the various sales avenues, and the application will run marketing analysis on the event to measure its actual performance.

The Power of Video

If you have a staff member spend the entire duration of the event filming the participants, this can provide valuable information about how they reacted to each stage of the program, and with a detailed post event survey, you will have sufficient data to make an accurate ROI analysis.

Live events are essential and being able to measure effectiveness really does help to make improvements, and with the right combination, your guests will always be impressed with the program and will eagerly look forward to the next one.