This post was written by professional blogger Sarah HillOne of the golden rules of business is to always strive for improvement and efficiency, because progress, in the end, is what drives any industry forward.Therefore being able to measure and understand data from events is what separates the big and successful event management companies in the industry from the amateurs and wannabes.
But what exactly should be measured?
Here’s where it gets a bit trickier – there are many approaches that have their advocates, but in reality, there are a few essential metrics that have to be analyzed after each event in order to make the next one better, which should be the ultimate goal of any events agency.
So here are a few of the most important metrics you should track and measure:
Track Attendee Registration Method
It’s a given in most business practices to closely and precisely track where customers come from, to the extent of knowing exactly from which ad or commercial did a customer find out about a service or a product being sold.
For some reason, the same is not always true for events planners – many companies forget how important it is to understand where exactly their attendees are coming from. This, obviously, is simply wasting the promotional budget, because the companies can’t know which of their campaigns are working and which isn’t.
Therefore, it’s crucial to employ a method to track attendee registration and find out where the attendees heard about the event. You can do this during the registration process or through a marketing/advertising campaign with tracked links – if done properly, this can help you organize much more effective promotional campaigns and get much more for each dollar you spend on marketing an event.
Analyze Attendee Feedback
A method for collecting feedback from attendees after each event should be implemented because there is no data more valuable than the direct input from the very people you’re trying to attract – the guests of your events. This can happen through the event app after education sessions or with post event email marketing.
Although it’s not likely you’ll get input from all your guests, the ones that will participate can provide you invaluable information that you can then use to make your next event better. The best part is that, over time, you will learn so much about your attendees that you’ll have a huge edge over your competition.
It’s important to know what to ask – the first questions are obviously whether they enjoyed your event and if there’s anything they would like to see your events agency improve. But you could go much deeper than that, asking them to evaluate different aspects of your event like the hosts, the food, the entertainment, or even the seating arrangements. The potential for finding out exactly what your attendees want is infinite.
Measure Spending Power
Finally, just as you have the opportunity to track how your attendees found out about the event, with a bit of preparation it’s possible to track much more, namely measuring the spending power of your audience.
Just think of the enormous marketing potential if you could pinpoint the average amount an attendee is willing to spend for your events, or at them, and then work to attract the segments of your audience with the most spending potential.
It’s easy to see the potential of this, combined with tracking your attendee registration methods – you could combine the data and achieve incredible efficiency, narrowing it to the most effective lead generation methods for attracting the highest spending attendees.
In London, the competition between events planners is as fierce as ever, as with the rest of the world, and utilizing post-event data is becoming a must for any company that wants to stay afloat. Therefore tracking the registration methods, getting extensive feedback and measuring the spending potential of attendees is something that all savvy event management companies should be implementing as soon as possible.
Sarah Hill, Marketing Manager - Group Se7en Events
Sarah Hill is a professional blogger and creative content writer. She works as a Marketing Manager @SevenEventsUK. Group Se7en Events are leading event planners in London & a successful event management company, delivering global meeting and free venue finding service.