How To Measure Event ROI in 7 Steps

Business man at a podium clapping during a conference

In today’s busy world of business events, conferences, and marketing activities, it’s important to understand what your event returns in value compared to the investment you made running your event. Measuring event ROI is more than just a financial number, it lets you know the overall success and impact of your event on your audience, business, and future opportunities.

Read on for a step-by-step guide to measuring event ROI in a way that is practical, actionable, and gives you insight into the wealth of your event.

1. Define Your Event Goals

The first step to measure event ROI is by defining your goals. What do you want to achieve from your event? Here are some common goals:

Your goals for your ROI should align with broader business goals. A clear path gives you something concrete to measure against when evaluating your event’s success metrics.

2. Track All Event Costs

We know it’s monotonous but once you have your goals in place, the next step is to calculate any and all costs associated with hosting your event. This includes both direct and indirect costs such as: 

  • Venue rental
  • Staffing 
  • Marketing and Promotional Costs
  • Technology and AV equipment
  • Videographer for Short-form videos
  • Decor, Rentals, Catering

Even smaller costs add up and keeping track of all expenses ensures that your event ROI calculation is accurate down to the penny. 

3. Gather Data from the Event

Collecting accurate data during and after your event is important for determining your event ROI. This data can take many forms depending on the nature of your event. You can track attendance numbers, new leads generated, or social media engagement. For video-drive events, like those Films 2 Reels specializes in, you can analyze video performance such as views, shares, and comments which provides insight into audience engagement.

Group Of Businessmen And Businesswomen Applauding Presentation At Conference

4. Measure Attendee Engagement and Satisfaction

Attendance engagement and satisfaction play a huge role in the overall event success. High engagement usually translates into increased leads, repeat attendance, and positive word of mouth which can lead to indirect returns long after your event.

Great ways to do this are to invest in short-form video content which will not only continue to promote your event, but get people excited about your next event. Measure engagement by: 

  • How attendees interacted with live sessions or content on social media
  • Sending out post-event surveys to gather feedback on satisfaction levels

These types of insights provide valuable data on how well your event went and what you can do to improve future events.

5. Calculate Revenue Generated

Revenue is another key component of your event ROI equation. The most obvious form of revenue is from direct income such as ticket sales to your event or sponsors. It’s important, however, not to overlook indirect revenue streams like leads that turn into future clients or customers or increased brand awareness that generates sales in the future.

While direct income is easily measured, indirect revenue will take longer to calculate but can be just as important to your overall event success.

6. Use a ROI Calculator

To really streamline the process of calculating your event ROI, you can use a simple calculator like this one

For example, if your event generated $50,000 in revenue and cost $30,000 to host, your event ROI would be 66.67%. This means that for every dollar spent, the event returned about 67 cents in profit, which would signify success.

Businesswoman Making Presentation At Conference

7. Analyze Your Event/ROI

Once you’ve seen the number, it’s time to analyze your results. Reflect on whether your event met the goals you initially set and identify any patterns of success and take into consideration feedback for future success.

When you reflect, think about whether any unexpected costs came up, was there a particular session or content that generated high engagement? For example, if certain video segments created by Films 2 Reels garnered more views and interactions, it would be smart to replicate that at future events. 

Unlock the Full Potential of Your Event ROI

Measuring event ROI is essential for understanding the overall success about your event and a wonderful tool for future events. By setting out your goals, accurately tracking costs, evaluating data, and analyzing returns, you can gain insight to the hits and misses of your event.

At Films 2 Reels, we’re here to help you maximize your event’s potential by using engaging video content to rev up your audience and boost your event ROI. Through creative, short-form content, we’ll ensure that your videos deliver value long after your event has passed.

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