Which 6 KPIs are worth tracking at your events?
What are KPIs?
KPI, short for "Key Performance Indicators", are the most important performance metrics in event planning. They measure and express the success of an event in key figures. By measuring your event's KPIs, you can check how high the return on investment (ROI) is and to what extent the predefined goals have been met.
Especially when KPIs are collected regularly and over a longer period of time, the data will show you what really works and what doesn't for a given industry and a given target group. KPIs are therefore important key figures for analysing the success of an event, and they give you as the organiser, or your clients, important information on how to make your event even better and more successful.
Why is measuring KPIs at your event important and how will it help you?
- They help you set and track specific goals for your event
- They provide valuable insights for future events
- They help you demonstrate the added value of your event to stakeholders and decision makers.
- They can help you improve the overall experience of your attendees.
KPI #1 - Number of registered attendees
One of the most obvious indicators, if you want to measure the success of an event, is the number of event registrations.
- Who exactly registered?
- Who didn't register?
- Which industries are most interested in your event?
It is best to evaluate this information in real time, so that you can determine in which period (e.g. in connection with advertising measures) you received a particularly large number of registrations for your event.
KPI #2 - Number of attendees on site
A key indicator of the success of your event is the number of attendees on site, especially in relation to the number of prior registrations.
What percentage of registered attendees actually attended the event?
If an unusual deviation appears in the event statistics, you should take a closer look at its cause. This evaluation can provide important information about whether the content and topics you chose were able to spark the interest of the target groups, and whether the time and venue were chosen appropriately.
KPI #3 - New vs. returning attendees
Take advantage of the data evaluation options of a registration platform and take a closer look at your attendees. The more returning attendees an event has, the more confident you can be as an event manager that your event concept will work. Depending on the type of event, a certain amount of fluctuation is usually normal, but if attendees don't return to subsequent events at all, this often indicates a problem.
KPI #4 - Mentions and tagging on social media
By using a pre-selected and communicated event hashtag, you not only get the opportunity to see your event through the eyes of attendees on social media, but in the best case also free advertising for your company or event.
Who is talking about you and your event, and how? It can also be useful to identify and observe other hashtags that attendees use to report on your event. Evaluate in which networks, how and by whom they are used.
KPI #5 - Revenue
For events that are not free, meaning that attendees have to buy a ticket, revenue is an important key performance indicator. From this data, you can find out, among other things, what the market demand for your event is.
You shouldn't only look at how much revenue the event generated, but also filter how that revenue is composed. For example, how successful were the individual ticket categories? How well did early-bird tickets sell compared to the regular price? How much revenue did each target group generate?
KPI #6 - Profit
In addition to the sales figures, the actual profit after deducting all costs is of course also an important key figure for analysing the success of your event. Where did you exceed the event budget? Where was it not fully used? Where would higher investments have paid off in hindsight? Is there still room for adjustments when it comes to your return on investment (ROI) - and did you fully exploit the possibilities?
Profit does not necessarily have to be seen purely in terms of money. If your event was free, for example, you can count the ideal value of the event towards the costs. How high were the costs per guest who attended the event? What new contacts or orders did the event bring you? How high is their value? Does the success of your event make it possible to organise further events?
Get an overview of your event's success
It doesn't matter whether it's about inspiring a particular target group with a new product, bringing professional visitors together at a conference, or thanking your own employees for their loyalty through an event: at the beginning of every successful event are the goals you want to achieve through it.
Key performance indicators will help you analyse success. An overview of the various tools and key figures is everything! The easiest way is to use event management software or an app (event management system) such as Happenee, which offers various tools for measuring the success of an event and supports you in both managing and evaluating the event. Whether it's invitation management, registration, guest lists or check-in: the system automatically collects the corresponding data, and you only need to read it out and evaluate it so that you can benefit from up-to-date figures in the future.
