What makes an event a success? When would you call it average or good? The last week I’ve been thinking a lot about this topic. The Dutch love to know where they stand. We love to use KPI’s, analytics and targets to measure. Let’s have a look at how to use measure the ROI of your event.
Quantity, quality – or both?
Before you can start to measure anything it is key to know what you find important. Quantity? Or quality? Leads or sales? Emotion or facts? Then it is interesting to know what you want to do with these goals. How would you translate them into measurable goals. Quantity could be the amount of attendees, where as quality could be the amount of attendees that made an appointment or interacted during your event. Of course such targets have everything to do with the sort of event you are organising.
Criteria should be SMART
A good criteria is SMART: Specific, Measurable, Achievable, Realistic and Time-related. Without these preconditions you can not really measure, since the criteria were too vague, too broad or not bound to a certain time period.
Measure, reflect and try again
In the chaos of planning the event and the day(s) itself it’s easy to forget about ROI. Therefore it is smart to create forms and surveys beforehand and think about how you are going to receive the information needed for your SMART criteria. A lot of the information needed can probably be digitalised retrieved!
Don’t forget to reflect on these criteria. What went well, what could be better? Use such a reflection for your next event. And don’t forget to have your eyes and ears open when you’re on the event floor. A lot of important information is shared informally!