Success! Top 5 Key Performance Indicators for Meetings & Events
The New Year brings with it new opportunities and a chance to optimize your meeting and events strategies. Savvy planners know that their work isn't over after the event ends. Post-event performance analysis is a critical part of the job – and a chance to demonstrate real value to the client. That said, pre-event goal planning and establishing the right Key Performance Indicators (KPI) are essential. Below are 5 general KPIs to consider.
Likes, Shares & Comments. Social media is a great platform for communicating to your audience, establishing your client's brand personality, and generating publicity. Creating a hash tag for your event is the best way to organize and track these mentions and comments. While social media activity is sometimes qualitative in nature, you can derive hard data from the increase in followers, number of shares, mentions, likes, and views. It's also a great place to capture quotes and testimonials for subsequent event promotion. To boost your social spread, consider fun, unique photo opps like the VisitDallas B&G letters!
Actual Attendance. It goes without saying that attendees are vital indicators of success. But, a high interest level in your event doesn't always equal outstanding ticket sales. Good old-fashioned actual attendance is a good gauge to evaluate the success of every event, as is the delta between those who registered and the attendees who actually showed up. For multi-day events, it's also important to capture how long attendees stayed engaged. Did they make the first day, but drop off for the remaining? This data can help assess the value of your programming and overall attractiveness of the event.
Attendee Satisfaction. Event success also relies heavily on attendee experience. A positive experience helps elevate brand awareness, and encourages your attendees to return for future events. Post-event surveys are great tools to measure your attendee's satisfaction. Keep the questions short and specific and make sure you are able to gather quantitative results from the questions. Yes/no questions or asking attendees to rate their satisfaction for different components of the event will enable you to gather comparable figures.
Profit. To make money, you have to spend money – with the goal to spend less than you make. When determining cost, don't just focus on direct expenses. Another important metric is indirect cost – notably time and efficiency. Did you spend too much time handling tedious event logistics like preparing name badges, repeatedly updating event websites, emailing back and forth to collect speakers' information, promoting your event, etc? How can you streamline these tasks in the future? With a vast knowledge of resources and access to valuable negotiated rates, VisitDallas can help you keep your costs low to maximize your ultimate profit. We can also help trim your indirect costs by being your "feet on the ground," and assisting with time-consuming logistics.
But remember, personal engagement is key! While numbers and data are critical in analyzing the effectiveness of your event, relationships are always more important than information and engagement is more important than reach. Although these "softer" metrics can take time to fully actualize, they eventually show up in increased conversion, sales and ultimately referral and repeat engagement.
VisitDallas is here to ensure that your next event is an unprecedented success! For more information on planning your event in Dallas, TX, visit www.DallasDelivers.com or call our planning partners at 800-232-5527. We look forward to hearing from you!