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Event measurement fundamentals

After the event completion, organizers and planners start calculating the returns of the event. Measuring event remains one of the top priorities for the meeting industry as well as being inherently one of the most difficult parts of the entire process. Here’s how not to miss the mark completely.

Measuring an event tells organizers about the positive outcomes of their event which can thus be pursued during the next event, and also determines the grey area which should be avoided. The post event analysis model varies from company to company, though the two major aspects -financial and non-financial data remain a core part of the template.

Financial data Analysis:  all event related expenditures come under this section. The data includes costs such as venue booking fees, food, employees, planner expense, AV equipments, lights and decorations etc. Putting all these costs in one side, calculate the financial gains on the other side like- total fund form registration process , funds from putting printed ads or e-banners, aids subsidies or funds from sponsors (if any). Comparison of these two data can give you an idea about the financial returns out of that particular event.

 Non–Financial data Analysis:  while non-financial data has equal importance as financial data, the collection methods are radically different. The data-set includes: no. of participants and visitor satisfaction level, speakers performance, meeting arrangement, branding, demographics of participants etc.  The data, at times collected with an online visitor survey, interviews, feedback forms and attendees data comparison with previous year’s data. The result reveals the non-monetary aspect of the event and helps the planners to take right steps for future events.  

Furthermore, there are two categories based on which event organizers divide data evaluation for ROI - at the organization and participant levels.

The organization may evaluate all inputs (including tangible and non-tangible) and compare with output of the event at company level. The comparison gives an idea whether they are in positive or negative side.

On the other hand, Participant level analysis includes the cost-benefits comparison of the event, in attendee’s prospective. If a participant invests 100 Euros as registration fees and spends 5 hours in the event, what is the prospective gain for that participant? Has he established networking or not? What was the quality of discussion in the event? Will he be interested in showing up next year event? ROI is generated directly with the feedback reports and visitors survey results.