| anagers are under substantial pressure to attain | | | | information, and difficult to convert it into valuable |
| metrics regarding their events and to ensure that | | | | data. |
| their events provide a return on investment (ROI). | | | | Many event managers are turning to technology to |
| The process of sourcing these statistics and | | | | help with this process. Event management software |
| converting them into valuable information is | | | | solutions aid event managers in the planning, |
| something that many event managers struggle with. | | | | management and analysis of events. They often |
| It can be hard to know what to measure, how to | | | | come with inbuilt reporting and analysis modules, |
| measure it and then how to analyse the data. | | | | making the measurement of event performance an |
| The initial stage in analysing the performance of an | | | | easy task. |
| event is to understand why the event is being held in | | | | If generating leads is a primary objective, event |
| the first place. What are the targets and goals for | | | | management software can help aid in the |
| the event? Below are some of the reasons why | | | | identification of lead quality and quantity. |
| companies choose to host events: | | | | Understanding what makes a high quality lead will help |
| Generate sales | | | | event managers to create tailored registration forms, |
| Generate qualified sales leads | | | | capturing the delegate information that identifies poor |
| To help retain current customers | | | | and good quality opportunities. |
| To enter a new market | | | | Understanding the messaging that is being conveyed |
| To launch a new product or service | | | | to delegates is also a key metric that should often |
| Build awareness of the company or product | | | | be measured, but one that can be difficult to |
| Conduct market research | | | | calculate. By utilising information that has been |
| To educate or motivate partners and/or | | | | gathered on the day of the event or post event, |
| employees | | | | event managers will be able to improve future |
| To influence or build relationships with the press | | | | events as well as enhancing customer relations with |
| To support the local community | | | | delegates. Again, event management software can |
| It is advisable to set one primary and one or two | | | | aid in this metric measurement. By providing a |
| secondary objectives. Setting too many goals will | | | | comprehensive feedback management tool event |
| dilute the main purpose of the event and will lead to | | | | managers are able to produce surveys which |
| mixed messages given to the delegates. Each event | | | | delegates can complete on the day, or which can be |
| held may have different objectives, but it is | | | | emailed out after the events. The results from online |
| important to understand exactly what these are, as | | | | surveys can be automatically populated into the |
| without a clear objective you will not be able to | | | | event management solution, ready for instant |
| identify and measure the event performance | | | | analysis and review. |
| objectives. | | | | Understanding delegates and their responses to the |
| Make your objectives and metrics as specific as | | | | event will also help event managers to accurately |
| possible. For example, if the primary objective is to | | | | qualify the event leads. Event management software |
| create sales and the secondary objective is to | | | | will provide analysis tools which will enable event |
| generate qualified sales leads, some of the specific | | | | managers to quickly drill down to the data held on |
| metrics will be: | | | | the system. Providing tailored reports as well as |
| Number of transactions made | | | | standard management information reports will |
| Number of purchase orders received | | | | demonstrate how well attended events are, how well |
| Quantity of new accounts/customers | | | | booked events are and how successful the event |
| Expense to revenue ration (E:R) | | | | programme was. |
| Return on investment ration (ROI) | | | | It is generally suggested that event managers use |
| Volume of leads obtained | | | | 5% of their event budget on event measurement |
| Quality of leads | | | | and analysis. By investing in a total end to end event |
| Once event managers have identified the objectives | | | | management software solution, event mangers can |
| and metrics, the next task is to obtain this | | | | ensure that exact results of the events are |
| information. This can be the trickiest part of event | | | | consistently produced. |
| performance analysis. It can be difficult to source this | | | | |