So you’ve just put on a huge event, how do you know whether or not it was a success? Sometimes there are obvious signs. Maybe registration was up from last year. Maybe you took home many new business cards and captured new leads. However, all of that still only tells a fraction of the story. Sometimes the value of an event is not instantaneous or immediately clear.
According to a recent study, 59% of marketers don’t have any way to measure return on investment for events. And yet, events remain a hugely popular marketing channel with over $500 billion spent on them each year. Tackling this question is tricky, but not impossible.
Event Impact: Evaluating Your Event
If you figure out the total cost to execute an event, it’s within reason to weigh that against other quantifiable elements such as revenue generated, new customers acquired, deals won etc. You could even give your event an objective score. However, events are an art, and there are so many more things that go into making an event successful–brand recognition, networking, improving customer relations etc. are all valuable components of an event that are difficult to measure.
When it comes to determining whether or not your event hit the mark, start out with your objectives and understand that not everything is going to be quantifiable. Here are a variety of things to consider that can contribute to a successful event strategy:
- The degree to which your event stimulated new discussion and/or thinking.
- The degree to which your event provided new knowledge.
- Inclusiveness and diversity of your event’s participation.
- The quality of discussion influenced by your event.
- Whether your event generated practical feedback from attendees.
- Did your event raise your organization’s awareness and public profile?
- The timing of your event — was it contextually aware and/or appropriate?
Roughly 225 million people in the U.S. attend 1.8 million events each year, including 270,000 conventions and 11,000 trade shows. With those numbers, events are clearly still a relevant marketing channel.
Event Production from TalkingTree Creative
Ready to share your story? TalkingTree Creative is your premier guide to brand strategy, event planning, video production, and live entertainment. With help from our production experts you can elevate your message and convert your audience to fans by transforming your next event into a fully engaging, memorable experience. We are located in the Baltimore-Washington Metro area, but are ready to accommodate the needs of businesses and organizations anywhere in the U.S. Get in touch with us today at 240-252-1200 or 202-684-2225, and let’s start a conversation. Find out what we’re up to on Facebook, Twitter, Google+, and Pinterest.