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14 Jan

A 5 step guide to measure the event ROI

After your event has ended it is important to check the return on investment or the value it is brought to the company or the brand.

All of the time, money, and resources you’ve poured into it are placed by the side of the post-event benefits to determine the return on investment (ROI). What you learn about your current event will determine where you invest your time and money when planning the next one.

Below is the list of the ways to measure the event ROI. This also helps in weighing the cost vs. the gain that the company has achieved after the event has gotten over.

1. Social Listening: Social media can be used to track the ongoing activity taking place at a certain event.It can also be used to track activity pre and post event. However, this isn’t very novel. It is important for event marketers to keep a track of what people are saying during the event which could essentially lead to valuable clues and insights and help optimize the future events. This can be achieved by any social marketing company.

A good way to optimize the event is by using a unique hashtag and telling the audiences to use them whenever they upload any picture on social media of that particular event. In this way, the marketers get a clue of things like sentiments, the number of posts, images, what are people liking disliking about the event, which stall did they like the most, was the anchor too loud, was the music good enough, etc. These things are of great value to the marketers after the event is over in order to check the return on investment.

Some social listening tools you can use to set up an easy to use social listening dashboard:

  • Hootsuite
  • Google Alerts
  • Mention

2. In Event Surveys: In order to know what the attendees thought of the event more organically, the best metric to apply is by sending out surveys during the event or at the last night of the event, when the content is pretty fresh in their mind. This helps the marketers immensely when it comes to getting to know about the insights of the event from the attendee’s point of view.

Don’t forget to pool in the exhibitor’s point of view as well. These are some of the ways to target the audience during the events.

Some survey tools you can use during your event to maximize attendee response:

  • Your Mobile App
  • Email
  • SurveyMonkey
A 5 step guide to measure the event ROI

3. Targeted Messaging: You can track the gravity of the attendees using the beacon or the RIFD technology. You can do so by sending out messages to people through emails or apps and remind them about some of the exclusive details of the upcoming events.

You can use digital data to understand which messages really inspired the attendees to attend the event and which emails or messages were the most retables. In this way, you have a better understanding of what messaging really caught the audience’s attention and secure those reasons for future events.

4. Gamification: This trend is really worth looking into.By taking advantage of exciting games, you can engage more people, get them to attend your event and get them excited about the exhibitors, speakers, and parties.

You can achieve this by inculcating games like scavenger hunts, photo quests, etc.

Such games results in insights of what can gauge the interest of the attendees and who out those can turn into potential leads for the company.

6. Mobile app insights: Your event’s mobile app is an essential part of assessing the attendee activity that you can use to produce data-driven insights. Beyond the total number of downloads, you can ask your app provider to give a full breakdown of who used the app and discover whether they found the app effective or not. These metrics will give a better understanding of your audience’s needs as well as improve the functionality.

This kind of digital data help in optimizing the events insights and deliver a more qualified list of leads to the sales team. And because events are an expensive experience for everyone involved, marketers need these kinds of insights to prove value to the attendees, sponsors, speakers, and exhibitors.

These are some of the most effective ways to measure event ROI. Any digital marketing agency in India can help us achieve this understanding.

In conclusion, it is important for the event marketers to evaluate and assess the insights of the event through the attendee and exhibitor point of view because of money that is invested in the events, as well as optimize these insights for the future events and gain an understanding of what works and what does not.

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