ROI is a measure of the profit earned after so much of efforts in the event. It is essential to calculate because it determine the outcome and results of the event. Weather you are organising the event correctly or it need some kind of improvement, all this thing are necessary of the self examination of organization. And for taking the required steps in the future.
2. What Is Event ROI?
• We all familiar with Return On Investment (ROI), which is generally
related to businesses. It is a measure of the profit or earning
generated from the resources and efforts.
• Here also the role is same, we are measuring the outcome (profit) in
return of organizing and executing an event.
3. What Is The Need Of Calculating It?
• It is the first step in planning the future event.
• Determines the position and condition of organization.
• Helps in strategising the flow of funds in organization.
• Decreases worthless use of funds.
• Monitors efficiency of resources.
• Examines the efforts of workers.
4. What Marketers Says:
Top event managers say that if your events are not
enjoyable, it means you’re doing them wrong.
However, when it comes to conduct conference or
meeting, you cannot characterize them as fun. It should
be informative and worth your guests’ time.
Whether it is a live event or conference, by collecting
data from event hosting websites is one of the best ways
of measuring a return on investment.
5. Objective:
Measuring the right ROI depends on the goals of your event. It
may include-
Creating awareness
Increasing conference registrations or ticket sales
Educating clients
Generating leads
Ensuring wide media coverage
Increasing digital engagement
6. Traditional Equation Of Calculating ROI:
Sales – Expenses = Revenue
Whatever your event goal is, it is very important to gather the data for
calculating an event ROI. By evaluating data you can interpret that
whether you meet your goals or not?
7. However, while evaluating other branding goals, you need to take help
from event registration system which you use for registration process.
Benefits :
Type of data you can collect from event registration sites:
A number of total attendees
A number qualified leads which you collected
Total product sales of the event
Total expenses
Attendee, sponsor and speaker survey responses
A number of like and shares on social media
Media impressions and reach
Evaluating traffic and conversions of event website
Advertising reach, impressions, and interactions
8. Craft A Successful Event :
In order to success of any event, it is important to choose one of the
event registration system. It allows you to collect attendees’ information which
helps your sales team to generate more leads and convert them into
customers.
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