Blog: How to track the ROI of an event

Your event has concluded, and it has been a great success. Lots of people turned up and there were many interactions among the attendees and the guest speakers. But how do you justify the investments you’ve made into your event? This is where the ROI comes in, calculating the ROI allows you to justify everything you spent in the budget.

There are 4 main steps to achieve this:

Have a clear objective

List all your objectives and gradually remove the less important ones until you’re left with the single most important one. That is your main objective and the remaining ROI calculations will be built around this.

Define your KPIs

Define your KPIs and set achievable objectives - once you have decided your main objective you need to look at what you need to do to achieve the desired outcome. For example, if your goal was to increase brand awareness, you could use the number of registrations, social media impressions, visits to the event site etc. Once the KPIs have been set you need to set achievable objectives, for example, increase social media followers across all platforms, improve social media engagement by 2% and attract maximum attendees to your event.

Collect data

Collect the data needed to track progress - this would include things like event attendance reports, event conversion funnel reports as well as content engagement reports.

Analyse and attribute

Perform an analysis of the results - Everything you have collated so far will enable you to decide if your event was a success and what changes you can make in future to make your next event even more successful!