June 5, 2018

3 KPIs to report on corporate events

How do you make sure that the number of people who attend an event is not the only indicator you can show sponsor companies when you’ve organised a professional event with them? Nurturing a quality relationship with your partner companies means making efforts to provide them with interesting insights and giving them the keys to act to improve their event performance next time they organise it. In order to help you provide them with a complete report and quality insights into why things worked out in a precise way, here are 3 KPIs that are fairly easy to measure and share.

It’s all about the exclusivity: registered students

Showing the number of people who registered for the event is a fairly easy performance indicator. Indeed, events that are not mandatory should always rely on a registration basis: it’s a simple tip for having more students attending your events.

You can go on a first come first serve basis for your registrations, which means that you create a sense of urgency and that people are less prone to not show up, or not know about the event until the last minute.

You can also choose profile-based applications, which means that a student considered more fit for the event will have more chances of joining in. This way, you play on exclusivity and of a sense of pride for the students who make it in.

The problem of registrations is that they also mean you can’t just give a spot to absolutely anybody. The easiest solution to this simple issue is creating a waiting list. Don’t just tell partner companies about how many people registered for their events: make sure to also tell them how many people would have liked to register. Having 2 students on the waitlist means you’ve calibrated the event well. Having 50 of them might be a good sign that it’s time to hold the same event more often, or with several partner companies, or to change the format in order to accommodate more people next time.

Dealing with no-shows: attendance rate

Once people have signed up, nothing guarantees that the students will show up to the event. We are definitely not going to ask you to track them, as they are grown-ups and not primary school pupils. However, just looking at the number of people who did come to the event compared to the number of people who registered for the event can be a useful indicator of how appealing the event finally was.

You will never get 100% attendance, and that’s perfectly fine. What you can do is put some solutions in place to make sure your partner companies don’t organise events and end up with a half empty room. The easiest one is, as already explained above, the waiting list. If someone ends up not coming, you can call the first person on this list and fill in the last-minute empty seats with low effort.

On the longer term, take a cue from airline companies and resort to overbooking. If you have a systematic rate of attendance of 95%, then just assume that you need to give more spots to replace the 5% that won’t show up. Don’t take risks: it’s better to have a few empty seats than people standing or sitting on the floor, which can give a really negligent image.

Identifying opportunities to improve: net promoter score

Your efforts do not end the second the event is over, and your tracking doesn’t either. What you want to show partner companies is not only how well the event performed, but how likely the next event is to have great results. In order to do this, a well-designed satisfaction survey will do the trick.

From these surveys, you can figure out what students enjoyed the most and share it with the companies. You can also get useful insights on what you can improve: maybe the chosen company just wasn’t the right one, maybe the format can be tweaked to be more useful to students. Make the most of these surveys: they can make your next event perfect.

If you want to report on your sponsored events for your partner companies, do add the number of attendees, but don’t limit your efforts to this. Having a registration system will enable you to have more attendees, but also know whether there is a long waiting line or not, and adapt to no-shows when they happen. Finally, don’t forget to add a post-event satisfaction score to your report, so you can improve your next events and know what works.

Posted by
Lexane Sirac
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