Using clear KPIs to measure event success is so important. You wouldn’t get in a car and drive without a destination, so why would you throw a load of money at an event without a clear end goal in mind? Having a clear KPIs will allow you to make sensible, informed decisions throughout your event planning process, always keeping the end goal in mind.
The measure of success for an event will be different in every business. They vary quite significantly between product and service-based businesses, and again between free vs paid events. Another thing to keep in mind is that some goals take a lot longer to materialise, so not to make unfair judgments too soon.
Here’s a suggested list of KPIs for you to consider for your next event. Are you a more visual person? Check out the downloadable checklist here.
Social media followers
Works best if you’re directing people towards a particular platform. What number would you like your followers to increase by?
Perhaps your aim is for X thousand people to post a picture of your flower wall with your logo on to their social media platform.
If your brand or company is big on social media, you might choose how many times a hashtag was used as your most important KPI
Improved sponsor awareness
Your sponsors have their brand more visible at the event or activation.
Overall brand awareness
600 new people have heard about your business as a result of your event
How many positive reviews will deem the event as a success?
Perhaps you’re looking to speak to 5 people and gain some valuable feedback on what they thought of your latest book
You want your sponsors to leave begging to sign for another year.
Increase in revenue
Selling more tickets than you did the previous year
When you leave, you’ll need to follow up with how many people?
Deals signed as a result
This one is longer-term and therefore slightly harder to manage. How many deals have been signed as a result of people attending your event?
Maybe you have something people can buy there and then on-site. Your metric could be how many products you sell.
Increasing the bottom line
No increase in ticket sales, but reducing spend to increase profit margin.
Cost per customer
Not necessarily reduce overall costs but reduce the cost per head.
Bums on seats (not literally)
A target number of how many people you can get through the door.
Maybe you don’t actually care how many people attend on the night, and you’re more interested in getting tones of people signed up.
The opposite to the point above. You want to get as many people who have signed up through the door.
New clients attended
If 10 potential clients attend, the event is a success.
Increase of VIP sales
Increase sales of VIP tables by x25
We hope you’ve found this article useful, and you’ve managed to identify some KPIs to measure event success. If you haven’t been through this exercise before, it might take a bit of time, but trust us, it’s worth it. It will help inform every decision you make about your planning.