KPIs to watch out for!

Monday, October 10, 2022

Start an event that will thrill participants and yield measurable benefits for your brand. You may show your supervisor or the budgeting committee that your event plan is effective by using Key Performance Indicators (KPIs) to collect quantifiable data. The sheer number of KPIs to analyse is an issue. What measurements are important? For your next event, keep an eye on these KPIs to gauge audience involvement

• Attendees per Session, In-Person and/or Virtual

You may determine how many people are physically or electronically present at your event by counting how many people attended each session. You can also determine how many people left during a session by counting how many people left. This KPI can help you identify the presenters, sessions, subjects, and locations that attracted more participants. To learn more about how event attendees are engaging, look for sessions with strong attendance and low drop-off rates.

• Event surveys

By gathering feedback, event surveys provide you a glimpse into guests’ thoughts and aid in understanding their level of satisfaction. These questionnaires may be used prior to, during, or following an occasion. Ask participants what they are anticipating or what experiences they are interested in before an event. Send a brief survey each day while the event is going on to determine what is going well and what experiences are lacking. Real-time modifications for the following day can be made using this data.

• Net Promoter Score (NPS)

The NPS (net promoter score), even if it also falls under “event surveys,” warrants a mention on this list. How likely are you to suggest this event to others, on a scale of 1 to 10, is the straightforward question posed in this score.

• Scores between 9 and 10 are regarded as “promoters,” who will function as devoted supporters of your event’s brand.
• Scores of 7-8 indicate “passives,” or satisfied customers who are nevertheless open to competing offers.
• Detractors are those with ratings of 0 to 6 who put your event’s reputation at risk by writing unfavourable reviews.

Here is how NPS is determined:

NPS = % promoters – % detractors

All significant stakeholders will be interested in knowing how much value your event provided guests based on this score.

• Session Watch Duration

Although people may have come to your event, did they really pay attention? In minutes and seconds, the number of persons who viewed your session is known as the session watch duration. Low session viewing times indicate inattention on the part of the audience. A low session watch duration may hurt a little, but you must attempt something else to increase audience engagement for your event. This KPI can be calculated per person or averaged to show the average number of sessions that each attendee watches. After you finish a live stream, the majority of event platforms will show the typical session watch time.

Event success definition and evaluation require a tailored approach. The KPIs that matter to you rely on the objectives you’ve set for your event. But having these KPIs in your toolbox will help you better understand which metrics are most important to your targeted event outcome and how to begin tracking those statistics.

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