Corporate Event Success looks different for every event.
The first step in planning your corporate event should always be to define your goals. Why are you running a corporate event? What does it need to achieve? Defining your goals in the early stages of planning allows you to determine smaller objectives - specific, measurable, attainable, realistic and time-based steps that lead your event to achieving its broader purpose. Your corporate event's unique objectives will determine exactly what success looks like and how it's measured.
That said, there are common metrics many corporate event planners might consider to inform their objectives and accurately measure success.
1. Marketing engagement metrics
The success of your corporate event marketing strategies can feed into the objectives of your overall event. For example, if an event's purpose is to drive awareness of a product, EDM click rates and conversion rates are a positive indicator.
If your marketing is delivering the right message, you're likely to drive attendance and - provided your corporate event delivers on everything promised in your messaging - achieve a positive sentiment among delegates because you've built appropriate hype around the experience.
Tracking the behaviour of invited delegates via social listening tools and website analytics gives you greater insight into the kind of messages that resonate with your audience. A/B testing different strategies in your corporate event website and EDM is a great opportunity to measure for engagement, better understand your delegates, and gain insights that may be extremely valuable for key stakeholders.
Tracking the hard numbers of your corporate event enables you to gauge overall success.
2. Registration and attendance rates
Similarly, it's important to understand who registers for your corporate event and who actually shows up.
Where reach is a key objective of your event, you need to know your attendance rates to measure success. A high registration rate with low attendance may suggest low delegate intent and a need to reinforce your marketing strategies at future events.
Measuring attendance is, fortunately, becoming easier with the development of event technology. Beacon software within an event app can automatically check delegates into your event, removing the need for manual processes as well as enabling you to track how long delegates are staying on-site.
Innovative strategic meetings management platforms like cimeetings also allow a centralised live view of who has checked-in to your event, allowing you to track attendance as it happens (with the added benefits to simplifying duty of care).
3. CORPORATE EVENT Delegate engagement
Today, everyone is competing for your delegates attention - even on the event floor. Creating an immersive experience that captures your audience is the hallmark of a great corporate event - but many feel they can only measure engagement by general sentiment or feeling.
This isn't the case - there's plenty of opportunity to track engagement using real data captured via technology. Creating memorable, catchy hashtags for your events and various presentations is a great way to measure audience sentiment as delegates are likely to share their positive (or possibly negative) experiences online.
An event app allows you to make your presentations all the more interactive with live polling or Q&A functionality. A great app will also measure the number of interactions during different sessions throughout your corporate event, allowing you to find gaps in your programme or identify future opportunities for engagement.
Your delegates are attending - but will they return next year? Track your engagement metrics carefully.
4. Delegate sentiment and satisfaction
In the eyes of your delegates, an event is only as good as their fondest memory of it. Leaving a lasting impression is key to winning repeat registrations in future years, and garnering that all too desirable word-of-mouth marketing.
Content and post-event surveys are key to measuring attendee sentiment. Keep the buzz going for months after the fact by sharing unique content generated throughout your event on social media. Social listening can help you understand delegate sentiment and identify pain points and wins.
Your post-event survey is an absolute must. This is your opportunity to directly ask your delegates how they enjoyed the event, what they found valuable, what didn't work for them and where you need to focus more energy. Asking delegates to respond on a scale of one to 10 allows you to turn answers into numbers for clearer analysis, while open-ended questions provide meaningful context.
5. Net Promoter Score and your corporate event
One of the most important questions you can ask in your post-event survey is:
"How likely is it that you would recommend our event to a friend or colleague?"
Delegates answer on a scale from one to 10, and a basic calculation between the total number of promoters, detractors and overall attendees will prescribe a Net Promoter Score between -100 and 100. This score is a fairly reliable representation of your potential for word-of-mouth marketing and is a great indicator of delegate sentiment.
Benchmark data for corporate events is fairly limited, however, you can typically assume an NPS over 50 is a sign of a particularly well-performing event.
Pay attention to your sponsors' satisfaction to preserve valuable relationships.
6. Sponsor engagement and satisfaction
Nurturing your sponsor relationships is vital to year-on-year success. It's important to put measures in place to track how your event promotes sponsors. These might include traffic referrals from your event website, ad impressions via your app or leads generated through event promo links.
Deliver this data to your sponsors and ask them to complete a survey of their own to gauge how valuable they found the relationship and how likely they are to consider future sponsorship.
7. corporate event Revenue
Revenue, whether generated through event registrations or leads generated, is a major indicator of success for many senior stakeholders. Positive financial return on investment is usually vital for the continuation of annual events - and many business leaders will expect to see year-on-year revenue growth.
To learn more about calculating return on investment for your corporate event, read our blog post "Breaking down ROI for corporate events".
Your event will have its own unique strategic objectives that determine which of these metrics, or any others, apply. Understanding your event goals and building a holistic strategy that helps you measure the KPIs integral to those goals is critical for a truly successful event. Reach out to the cievents team today to plan an event that exceeds expectations.