So often success is measured on anecdotal evidence. “It’s not as busy as it was last year...” “I was expecting more...” On the basis of one or two opinions, events can be deemed successful or not worth repeating.
Most marketers will be ready with measurables, such as leads generated, meetings conducted and predicted returns, however unless objectives and success were defined prior to the event, the figures lose their impact.
Before planning an event, it is useful to draft objectives, set a strategy and outline deliverables. Involve key parties, such as the sales team, to set joint targets everyone agrees defines success.
Key measures such as total cost of exhibiting, hosting or attending, plus total visitor numbers are good to gather as a starting point. You can then set targets for lead generation against costs, or as a percentage of the total audience, and follow up with leads converted and order values over time. This way you can calculate the return on investment and time taken to achieve the return.
Analysis of last year’s attendees and performance compared to this year’s statistics, gives you facts you can analyse. You can also compare visitor numbers and break them down into target audience and compare that with the number of leads generated. If target audience numbers were up and leads were down, you may want a closer look at how the stand was run.
It is tempting to write-off an event on gut feel, however having measures against targets will help the decision making process. For further tips on marketing, read our blog.
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