Top 5 Event Networking Metrics to Measure Event Success
With the rise of virtual events and the technology that comes with them, we can now gather and analyze more user information than we have ever imagined. We can track almost every interaction between attendees, speakers, and exhibitors using virtual event platforms and their built-in analytics. This heightened degree of data not only assists event planners in improving the content, efficiency, and user experience of their event, but it also assists them in measuring the event success. This article will walk you through the event networking metrics that you should include in your event planning strategy.
The easiest approach to track and assess the success of your event is to use key performance indicators (KPIs).
What are event KPIs?
An event KPI is the best way to track and measure your event success. When determining KPIs, your event goals and desired event outcomes are the best places to start.
KPIs are objective, measurable criteria for assessing success. They’re often utilized in the workplace, so corporate clients may already be familiar with them and eager to apply them in event planning.
Important event KPI’s for measuring event success
Event KPIs are specific to the type, the size and budget of the event, the data provided, and, most importantly, the event goals. You just want the most significant pieces of the puzzle—key indications of overall performance—when it comes to KPIs. Following are the top 5 event networking metrics to measure event success.
Popular event success KPI’s:
The number of guests who have checked in at the event is directly shown by this important event networking metric. Keep track of how many people came to your event. When you combine this information with additional metrics like check-ins, follow-ups, purchases, and others on this list, you can get a good idea of how successful your event was.
Tracking event attendance also helps in examining your event’s return on investment (ROI). Calculate your event’s expenditures and divide them by the number of individuals who attended to get a general idea of how much you spent on each attendee.
Event attendance monitoring also allows you to assess the success of your marketing and communication efforts in reaching out to your target demographic.
Tracking engagement rates is another important event networking metrics to look for. Attendees who participate and communicate with one another are actively engaged, which is a good sign that your event is going well.
You may narrow down exactly what your attendees liked and didn’t like during your event by measuring different types of engagement, which will help you optimize your event success and potentially your product or service in the future.
You can keep track of user engagements to see who was the most engaged throughout your event. Tracking how many posts and comments a user made on a live stream, how much time they spent on the app, and how many sessions they watched will help you figure out what drew their interest and what didn’t.
NPS (Net Promoter Score)
It’s another important event networking metric for evaluating event success. To collect audience feedback, include a list of meaningful questions in your post-event survey. Your audience’s chances of attending similar events in the future or promoting them to their peers might be among the questions you ask.
How likely are you to recommend this event to friends on a scale of 1-10? Scores of 9-10 are called “promoters,” or enthusiastic supporters of your event’s brand. Scores of 7-8 indicate “passives,” or happy customers who are nevertheless susceptible to competing offers. Finally, scores of 0-6 are referred to as “detractors,” who may harm your event’s brand through unfavorable evaluations.
The NPS is then calculated as:
Examine each session to discover whether one was a success. The entire session ratings and feedback will be displayed in session analytics, which is amongst the crucial event networking metrics. You’ll also be able to observe how many people attended, the average view time, page visits, and whether the audience was virtual or in-person.
Analyze the information to see which sessions were successful. Then, when choosing sessions for your next event, check for similar characteristics in the top-performing sessions, such as subjects, tracks, or duration of the session.
You may also track which attendees watched each session, to have a deeper understanding of each guest’s preferences and interests. Knowing what interests your attendees can help you make your event successful.
Post Event Surveys
Post-event surveys are an event networking metric that allows you to track the sentiment of your event and brand – how guests feel about your event and organization. Even if it doesn’t easily transform into a monetary value, sentiment should not be neglected.
Post-event surveys are a great way to figure out your Net Promoter Score (NPS) and get input on how to enhance your event’s success and marketing efforts in the future.
To Sum Up
The process of defining and assessing event success is unique and personal. Which KPIs are most significant to you will be determined by the objectives you establish for your event. Having these top 5 KPIs in your toolset will help you better understand which event networking metrics are most important to your intended event success and how to begin tracking those figures.
Frequently Asked Questions
- A proper planning
- Defining the goals of the event
- Evaluating the event feedback
The only way to measure success is to follow SMART goals:
- Specific: The goal is clearly defined and easy to communicate.
- Measurable: It’s possible to tell when you’ve achieved the goal.
- Assignable: There is a person responsible for achieving the goal.
- Realistic: The goal is achievable with available resources.
Time-related: Within what time frame will the goal be achieved?
- Setting up goals & budget for your event
- Set event content creation and management tactics
- Leveraging event speakers and attendees
- Promoting event at the right platform
- Summarizing communication tactics
- Establish last-minute promotions