It's the start of a brand new year, which means many planners are reflecting on the past year's successes, as well as areas of improvement. This is especially true when it comes their events budget, and while data in a variety of areas can greatly impact event spend, crucial areas like registration shouldn't be overlooked.
Data like overall attendance and revenue made during registration are good places to start, but planners can dig deeper into the numbers collected by their event management software. Learn why these four registration key performance indicators (KPIs) are worth taking a look at, as well as how they can help make planners make better budget decisions.
From the early-birds to the last-minute folks, understanding the high and low registration times can tell planners a lot about the effectiveness of their marketing strategy. It can also help planners make smarter choices as to where and when to invest in their marketing campaigns, as well as how to structure pricing during the registration cycle.
Promotional Codes & Discounts
Similarly, tracking what promotional codes or discount specials work and don't work can also help better align your overall pricing and marketing campaign structure. Planners can determine not only what promotions were the most popular, but they can figure out how long to use them and when during the registration cycle to generate the most attendees and subsequent potential revenue.
They aren't always ideal, but inevitably walk-in registrations happen during your days onsite, Between additional meals and supplies to account for an unexpected number of people, it can be difficult to determine how many "extras" to budget for. By tracking walk-in data year over year, you can determine exactly that, which can save you money if your expectations for walk-ins in the past have been too high or allow to you be better prepared (and provide a better event experience) if they have been too low.
PC vs. Mobile
It's no secret that attendees are becoming more tech-savvy and are accessing the internet on mobile devices more-so than ever before. If you track how your audience prefers to register for your event, you can determine what new registration features to invest in, whether it's a mobile app, social sign-on, auto-populated information and much more.
Bottom line, with the right event management software, planners can take a deep dive into their registration data unlike ever before. What they discover can greatly impact budget-related decisions, understanding where to make the right investments, and overall creating more successful events.