For years, marketing teams have been using scoring to gauge the success of different kinds of initiatives. From lead scoring to content scoring, measuring how effective different ideas and approaches are can ensure your team consistently invests time and resources in the most successful initiatives.
Did you know that event marketing can also be ‘graded’ with a score? An event experience score measures both the effectiveness of your planning and execution as well as the overall experience and sentiment of your attendees. While traditional marketing programs have a clear grade right out of the gate – the number of downloads, responses to a webinar poll, etc. – marketing event grades require a bit more digging.
Marketing event experience scores are often compiled using multiple different metrics, including:
1. Progress towards KPIs: Before any marketing event kicks off, your event team will have sat down, identified the goals and KPIs of what you want to achieve during the event, and outlined some ways to measure these goals. The total progress towards achieving these KPIs (ideally 100%, but could be lower) should be added to your total event experience score.
2. Attendee sentiment score: While your event experience score measures success across the board, the attendee sentiment portion looks at whether or not your event attendees found the event to be valuable and worth their time.
3. Actual vs. budgeted costs: To see if your event budget was ideally allocated to the correct areas, you should analyze the actual vs. budgeted costs of different event initiatives. To come up with a number you can pull into a more significant score, you can take the percentage off (higher or lower) or the actual dollar amount.
4. ROI: And, finally, the king of all event measurements is ROI. Looking at your event KPIs – new leads, demo, conversations, upsells, etc. – compared to your event budget – your investment – will show if your costs were ‘worth’ it in the end.
Reviewed together, the above metrics can be analyzed to develop a single experience score, making it easy to determine event success. Additionally, event experience scores can be shared with executive team members to measure event progress with one glance. One best practice to keep in mind, however, is to make sure that all key stakeholders (including executives) understand exactly how your event experience scores are measured and what goes into the calculation so there is no confusion over whether or not an event can be considered a success.
The Circa cloud-based event marketing platform makes it easy to gather and analyze event marketing data before, during, and after your marketing event. Tracking the above metrics alongside traditional event data can ensure your team has a clear, holistic baseline to measure whether or not your events are successful. You can learn more about the Circa platform and get started here.
Looking for more insight into the in-person events your competitors and customers may be hosting? Discover b2b events in your industry with eventintel.com.
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