According to A Guide to Event ROI, Presented by AgencyEA,, data collection is the new flossing: Everyone says they’re doing it, but few marketers fully grasp how to prove the success of their event or experiential campaigns. This makes it more difficult to secure budget for the next event, but with some strategic planning, a shift in mindset, and creative collaboration, measuring event ROI is easier, says the report, and becomes one of the most exciting aspects of experiential marketing.
Although ROI is a valuable equation to examine, measuring the success of an event also requires a more holistic outlook, including observation of:
Understanding how to measure events goes beyond securing budget for the next one, says the report. Smart measurement practices, such as data collection, deliver insight into how audiences are interacting with brands. It enables smarter decision making for the next event. Measuring an event reveals how it can affect the customer throughout a sales cycle. And most importantly, it can reveal the (potentially enormous) cost of not having the event at all.
It can be months, says the report, before an event’s effect on its audience concretely emerges. And the metrics used are more nuanced than in traditional marketing channels. Units of measurement that are relevant to one event type will not be pertinent to the next, says the report. Another concern is demonstrating the quantitative value of qualitative data. One of the biggest mistakes event marketers make is focusing on ROI only after an event’s completion, says the report. Measurement has to be the first question asked and serve as the foundation for every logistical decision made thereafter.
The corollary relationship between the attendance and resulting social following, engagement, or sale at B2C events, is quick and readily apparent. Like any long-term relationship, B2B event measurement is more complex and requires more patience, but has the potential to be profoundly rewarding.
Common B2B event types, and the goals and metrics that often complement them, serve as a base for evolving future objectives. Turn your attention to your audience, understanding how they benefit from the experience.
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Suggestions From The Report Include
Finally, says the report, translate the results into a story that can be presented to C-Suite leadership and key decision makers, using compelling data visualizations and meaningful anecdotes. Then integrate these learnings year over year to take your events from great to extraordinary.
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