Key Metrics for Measuring ROI for Events

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Ever felt frustrated by trying to compete with other marketing channels who appear to have access to hundreds of useful data points to justify their marketing budget?

Impressive Marketing Stats

Website marketers can access Google Analytics to show traffic reports, numbers of enquiries and engagement stats. Email marketers can use email marketing tools to measure open rate, cost per enquiry and click rate. The social media department can use measurement tools to gather data about reach and content engagement. Blimey! That’s a lot of really useful data right at their fingertips.

So how can #EventProfs keep up?

Well, the good news is that these days there are loads of great ways to measure ROI at your next event. Yep, forget word of mouth and anecdotal evidence from feedback forms! Now you can gather loads of great data so that you can create a really compelling case for event spend.

But what key metrics should you track to compete with other marketing channels, and how can you go about capturing the data for them?

Thankfully, there are loads of really useful and easy to capture data metrics that have been tried and tested by #EventProfs over the last few years, and the great news is that all of them can be captured using simple event tech like apps for events, RFID name badges and audience response systems.

Key Data Metrics for Measuring ROI for Events

Registration & Attendance Numbers

  • Who has arrived and who hasn’t
  • How many delegates were inside the event at any one time
  • How long people stayed
  • Year on year uplift

Best tech to capture this data: RFID / badge scanning / beacons

Who Attended

  • Role and job title of those who attended
  • Who did not attend
  • Which companies were represented
  • Where people travelled from

Best tech to capture this data: RFID / event apps / badge scanning / beacons

What Delegates Want to Know

  • What information were people searching for?
  • What questions were asked during sessions or seminars?
  • Which content were people most engaged with?

Best tech to capture this data: Event apps / RFID / audience response systems

Session Data

  • Attendance numbers
  • Most popular sessions
  • Leads gathered for sponsored speakers
  • How many sessions the average delegate attended
  • Levels of engagement
  • Live poll and survey results

Best tech to capture this data: Event apps / audience response systems

Exhibitor Leads

  • Most successful exhibitors
  • Heat map of most visited exhibition stands for your sales manual
  • Number of leads captured

Best tech to capture this data: RFID / badge scanning

User Specific Data

  • Number of interactions for specific delegates (eg VIP guests)
  • Patterns of session attendance amongst different levels of job seniority
  • Areas of interest for specific delegates

Best tech to capture this data: Event apps

How do I Capture That Data?

So, now you know what you want to measure – you need to understand the pros and cons of the various event tech systems and what data they will allow you to capture. Check out our handy guide below to find out whether apps for events, RFID name badges, badge scanning, audience response systems or beacons are most likely to yield the data sets you’re most interested in.

Event Apps

Data Measured

  • Pre and post-event questionnaires
  • Networking interactions
  • Live polls and surveys
  • Questions asked during seminars
  • Profile and content views
  • User specific data

Pros:

  • Good source of qualitative data
  • Improves delegate experience
  • Improves networking opportunities
  • Source of insight into individual delegate experience

Cons:

  • Users must have smartphones

Badge Scanning 

Data Measured:

  • Attendance numbers
  • Length of stay
  • Session check-in
  • Lead capture

Pros:

  • Cost-effective
  • Easy setup

Cons:

  • Can be fiddly to use
  • Slower than ‘tap to scan’
  • Limited amount of data storage

RFID 

Data Measured:

  • Attendance numbers
  • Length of stay
  • Session attendance
  • Lead capture

Pros:

  • Comprehensive tech solution
  • Streamline your event
  • Easy to operate
  • Fast
  • Durable
  • Can be read at up to 300 feet making them easy to operate

Cons:

  • Can be higher cost than badge scanners
  • Can be integrated with event apps

Beacons 

Data Measured:

  • Attendance numbers
  • Session check-in
  • Heat mapping of the event

Pros:

  • Great for personalising the event experience

Cons:

  • Assumes every delegate has access to an iPhone
  • Less variety of touch points and uses than RFID

Audience Response 

Data Measured:

  • Session engagement
  • Number of poll voters at each session
  • Number of people taking notes during sessions
  • Questions asked during sessions

Pros:

  • Encourages engagement and interaction
  • Can be integrated with event apps

Cons:

  • Primarily used for engagement during seminars and talks rather than the entire event environment

 

Tips for Successfully Measuring ROI For Events

Worried about getting the most from your event tech? The key to picking the right tools for the job is to find an event tech company who will partner with you to ensure you’re implementing the right overall strategy and the tools you use are the ones that will help you to deliver against your objectives. Before you sign any deals with an event tech provider, make sure you ask for an example of the way your data will be presented and delivered back to you after the event. Opt for a company that are willing to help you interpret your data and make it easy to share with other departments and colleagues.

Want to know more about great event tech? Give us a call at Noodle Towers. Our Sales Consultants will work with you to find the best tools for your specific event and can help talk you through the possible data you can gather. Plus, they make a lovely brew too.

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