As an event planner, you make it your business to plan successful events that fit within your client’s budget. Your pricing needs to account for the event’s cost while generating a desirable ROI. Tracking a series of event metrics is the only way to know your actual ROI so that you can continue to improve.
1. Attendance Rate
To determine the attendance rate, track how many people RSVP or buy a ticket for your planned event. Then, track the number of people who attend the event. This percentage tells how many people you attracted to the event and successfully convinced them to attend. This rate is more relevant to corporate, marketing, and public events. The higher the attendance rate, the more effective your marketing efforts are.
2. Attendee Engagement
Measuring attendee engagement will tell you the client’s ROI for their investment in the event you planned. As an event planner, your client hired you to plan a successful event. Attendee engagement will help you determine the success rate and effectiveness of your client’s event. When you successfully reach your target audience, the attendee engagement will increase. The more engaged the attendees are, the more fruitful of an experience your client will have.
3. Lead Generation
A well-executed event should lead to more clients requesting your services for event planning. There are two ways to look at this metric when determining the ROI of an event. One approach is to count the number of new leads you gather from an event. You can then track how many leads are converted into paying clients. Another approach is to consider the value of the leads generated. Sometimes, lead quality is more valuable than quantity. Larger or more elaborate events may offer opportunities for increased profits than doing many smaller events.
4. Social Media Engagement
Track the social media presence of your event promotion. Social media can create a serious buzz and generate a broader reach for your events. If you are planning a multi-day event, social media is crucial for keeping attendees engaged throughout the event. While much of it is organic, there is your time investment and any paid promotion you choose to do. These metrics will help you to realistically determine the effectiveness of your social promotion strategy.
- Likes
- Shares
- Inquiries
- New followers
- Hashtag uses
5. Sales Revenue
You can measure sales revenue as an event planner in a few ways. It could be the number of people who contact you for their event planning needs as a direct result of attending another one of your planned events. It could be the number of people who purchase tickets to an event you plan. Perhaps your event has opportunities for people to purchase items and services at the event. Measuring the in-event purchases can help you gauge effectiveness and engagement. Tracking sales revenue before, during, and after your event can help you identify areas for improvement. You can then change your strategy to boost engagement where sales are low.
6. Media Coverage
If your client hired you to plan a public event, then media coverage is crucial for attendance. Tracking press release dissemination, news stories, and other media coverage can help you understand the return for your efforts. You can use this information for a more effective strategy for the next public event you plan. In addition, you can evaluate your efforts compared to the event attendance numbers.
7. Total Event Cost
The simplest ROI analysis compares the cost of the event to your final net profit. To remain profitable, you need to charge your clients more than the cost of their event and your overhead. If your profit margins are not enough, consider adjusting your pricing to accommodate.
Boost Your Event ROI with Insights from The Expo
Networking and collaborating with industry professionals will help you improve your business analysis. Attending The Event Planner EXPO in 2024 is a must for maximizing your ROI. Don’t miss this valuable opportunity to secure sales on the spot and have coveted exposure to key decision-makers who will help your brand grow exponentially.
Become a high-profile exhibitor at The Event Planner Expo 2024 and leverage industry relationships while gaining awareness and exposure!
