Event Marketing: The 3 Metrics Every Marketing Leader Needs to Know
Reporting on event marketing metrics can be tricky – especially with so many data points available. At the tactical level, confusion often comes in the form of determining which ROI metrics to focus attention on (new leads, conversations, downloads, etc.). sifting through the data to uncover strong foundational numbers that can influence strategy can be difficult. Finally, at the strategic level, understanding how event marketing metrics impact the bottom line can be confusing – unless you know what you’re looking for.
Whether you’re gathering event marketing metrics to present to board members or helping your team members understand more about event marketing ROI, consider this your primer on all the numbers you need to know in order to be successful. After all, event marketing ROI doesn’t have to be confusing – but having the right plan in place is crucial.
Virtual event reporting: what marketing leaders need to know now
The new normal of virtual event marketing looks more than a little different than the past world of in-person gatherings. Instead of judging success on the number of booth conversations, for example, event marketers have a plethora of new ways to track and measure engagement.
For marketing leaders, it’s key to have a clear path of understanding between these engagement metrics and how the bottom line (i.e., revenue, deals, etc.) is actually impacted.
Here are the key 3 numbers every marketing leader should know when it comes to event marketing metrics:
- Operating budget: How much did the event cost to host in the first place?
For virtual events, this number includes everything from the cost of the event-hosting software to the costs incurred by posting the event in industry publications or on paid ad sites or social media platforms.
- Total event value: What was the return on the event?
This metric is essentially an amalgamation of the value derived from all the various event activities (brand exposure, leads, traffic, press, etc.) into an amount that is easy and accessible for executives to work with. This goes beyond the concept of ROI and is essentially a score for an event that includes the ROI, but also includes other, less tangible value that can be received from an event. To see it in action, learn more about virtual event roi reporting.
- Cost per action: What is the breakdown of each identified action?
If your team is striving to drive conversations, meetings, leads, or opportunities, an important metric to keep a close eye on is cost per action. This number puts a ‘price’ on each action (conversation, etc.) based on an event’s total operating budget. Marketing teams tracking cost per action can also build an overall view across all marketing events for a more holistic look at marketing operations.
Circa in Action
Circa makes it easy to capture and analyze all of the data you need to track these three key metrics. With Circa, you can manage up to thousands of B2B marketing events each year with any combination of virtual, hybrid and in-person events:
- Measure ROI for any individual event or across your entire event marketing channel
- Get automated recommendations for potential future events, including predictive ROI
- Use any combination of video hosting platforms, like Zoom, GoTo Webinar, ON24 or Bizzabo for virtual and hybrid events
- Integrate seamlessly with your broader MarTech stack to promote your events and effectively manage event campaigns, leads and opportunities
- Manage all events from a central calendar
- and much more...
Want to learn more?
Event marketing ROI is a key part of any team strategy and should be a foundational part of any marketing team’s executive reporting and planning. If you’re not already including event marketing metrics in your overarching team impact analysis and/or future planning, what are you waiting for? Circa makes it easy to identify, gather, and analyze event marketing metrics and insights so your marketing team can make the most strategic decisions possible.
Give your executive team the right insight into event marketing with Circa – request your personalized demo of Circa today.