Articles, Blog

Hitchhiker’s guide to events ep. 12 – Event ROI part 2.

last time we kicked off with the topic
of ROI and today we want to finish it just like with KPI today we will focus
on specific measures which can be used for calculating your return on
investment what measures do we and our partners use
to calculate ROI then? just like when it comes to KPI it all depends on the event
and goes connected with it although some of them are more popular
than others today we want to show you the ones that give you a financial
effect in an easy way income from tickets sold this is the
easiest indicator for ROI verification if you are selling tickets to your event
you can easily calculate how much you earned you can also add the income from
partner packets if you have any the amount of new clients an indicator that
helps you calculate how many new clients you gained at the event remember but not
everyone decides to make a purchase during the event so the indicators
should be calculated with some delay For an even more precise measurement you can
give your clients a discount code to later verify who decided to make a
purchase from you and at the same time calculate the income that the
organization of the event generated The amount of new sales leads generating
leads is a topic that I frequently covered during this series that’s why I
only want to mention it now count how many new people ended up on
your potential client list later count the unit cost of generating this lead
and after calculating the cost and incomes connected with organizing the
event compare it to the cost this process costs in other conditions the
next step is after some time depending on the specification of your activity
you can verify how many people you started cooperating with and what income
they generated The amount of new recruits. An indicator that is really
important when you are organizing an event to recruit new employees in this
case just like when it comes to new leads it helps you verify what is
affordable recruiting at an event hiring an agency to do it for you or maybe just
simply adding an ad online count how many people left you their contact
details or resume suggesting that they’re interested in your offer and
what were the cost of all of this later compared
results to see if organizing an event to help you save money. Media coverage. We
mentioned sales and recruitment goals so let’s go on to marketing which is
extremely important if you want to expand your brand’s awareness and you’re
organizing a large-scale event when it comes to media coverage I mean both
plastic and social media after the event analyze what was the reach of your event
and what the cost of this reach was and compare it to the cost of an alternative
way of achieving it it is also crucial to prepare hashtag that will help you
monitor any mentions of your event in social media remember that when
calculating the final ROI of the event many of these elements can be achieved
at once so when counting the final return on investment remember to include
the whole value generated by the event those were only examples of what
measures can be used to verify event ROI if you are using advanced tools to
manage your event you can collect lots of data and verify if you achieved your
set KPI and calculate the return on investment if you have any questions let
us know we would be honored to share our experience with you and help you prepare
a precise evaluation plan of your event marketing activities

Tagged , ,

Leave a Reply

Your email address will not be published. Required fields are marked *