We all love to talk about how many people registered for our last event. But if only a fraction of those registrations converted to live attendance, you’re not telling the whole story. And that is what I like to call a vanity metric: something that seems like a huge win at face value, but actually means nothing after you dig deeper. Think social media likes and comments versus clicks to the shared content.
This requires a little bit of homework before diving right into measuring because, let’s face it, if you don’t know what you’re trying to accomplish, will you ever get there? The first step to successfully measuring your events is to define what success is. Here are some good examples:
– Registration-to-attendee attrition rates
– Average event ROI from ticketed events
– Influence on pipeline and revenue
– Number of net-new qualified contacts added to your database as a result of the events
And because I can't resist, here are some examples of fluffy, vanity metrics that won't get you that same fat event budget you had this year:
– Event landing page views
– Registration counts
– Impressions of your brand from an expo hall booth
I’m not saying you should forget about these metrics, but I wouldn’t lead with them.
Pro Tip: Just because the vanity metrics don’t tell the whole success story, they still matter. For example, if one event landing page had significantly more views than normal but had a lower conversion rate than expected, it’s worth reporting. It’s also worth a deeper dive into the tactics used to promote that particular event and understand how you can increase the conversion rate for future events.