Measurement of Event Satisfaction Using Key Performance Indicators (KPIs)
Admittedly, planning and executing an event is a long and even arduous task. However, a lot of work still remains to be done once the event is done. In fact, most of the work related to an event happens after the end of the previous event. Today, with tracking and analytics, it is possible to evaluate and assess the success of an event and avoid repeating mistakes.
But what constitutes an event’s success or satisfaction? Is it growth in net promoter score (NPS), revenue generation, or better RoI? Here is where Key Performance Indicators (KPIs) play a role. If you haven’t ever set KPIs for your event, then now is the right time to start. Work with your virtual event company to identify KPIs and work backward from there.
Let’s take a look at a few examples of KPIs that you can use to evaluate your event satisfaction.
1. Attendance rate
It’s not registrations or the ones showing interest that count. What matters is the number of people who said they would attend and actually showed up on the day of the event. It will reveal how many attendees were genuinely interested in your event and how many remembered to attend. If your attendance numbers are low, then you can work back to improve your promotional campaigns.
2. Social media buzz
Your event is incomplete without social media promotion. In fact, posting teaser videos is an emerging trend shaping the future of event technology. It is here that you can identify how audiences are engaging with your brand, their awareness levels, and their likelihood to recommend it to others in their circles. You can measure all of this through the changes in the number of followers, the likes, shares, views for your videos, and so on.
3. Sales revenue
The amount of sales you make can also reveal a lot about the effectiveness of your event, especially if you were looking for monetary gain. You can monitor this through the quantity of sales happening through different channels in response to promotional campaigns before and after the event. You can also look at whether the sales came in from new customers or repeat customers.
If you have a lot of new customers, then your event has likely succeeded in raising brand awareness. Repeat customers means good brand loyalty and a higher NPS. If your numbers are low, then you can think of new virtual event ideas.
One of the reasons why any business would want to organize an event is to bring value to its audiences. And one of the easiest ways to measure this is to look at the overall attendee satisfaction.
Create an online survey that captures important information about the attendees, their likes and dislikes with respect to the event, their expectations from the future, and so on. All of this can serve as great preparation for your next event.
If other businesses in the industry are talking about your event, or if it has been featured in the press, then you know your event did well. Media coverage can also help your brand find more awareness.
By using the right virtual event platforms like Almond Virtex, Hubilo, Eventcube, Airmeet tracking different event metrics for your KPIs will be a walk in the park. From your side, just be sure of the KPIs and leave the rest to the event platform.