How to Learn Which Promotion Tactics Drive Event Marketing ROI
If you’re spending money on event marketing activities to increase ticket sales and revenue, then you need to know which of those marketing investments are actually working. In other words, you need data to calculate your event marketing ROI. Without data, you won’t know if you’re wasting money on ineffective marketing tactics or if you’re not investing enough of your marketing budget into tactics that are driving the best results.
To measure the success of your ticket sales and your event, you need to track specific event metrics. You can also use Google Analytics to track ticket sales and event success. However, to gauge the performance of your marketing investments, you need to track each tactic individually so you can identify the sources of your results.
This type of tracking presents two problems for many event organizers. The first problem is finding time to track! Manually recording marketing analytics can take a lot of time that busy event managers don’t have. Second, gleaning useable information from the data can be challenging. How do you know if your results are good or bad?
An event marketing agency can usually help you track your event marketing investments, but without direct integration with your ticketing platform, your ticket sales page, and your marketing channels, your data will be questionable at best.
With that in mind, look for an online ticketing platform that provides this integration. For example, not only does AttendStar offer this integration, but it also offers complete tracking of your investments in its Event Activities feature. Let’s take a closer look.
How You Can Use the Event Activities Feature to Boost Event Marketing ROI
To use the Event Activities feature and track your event marketing ROI, all you have to do is enter your data into the AttendStar software. You can enter the following information for each activity:
Provide a name for your event activity that describes it well.
2. Date Created
This is the date you created the activity.
3. Created By
Here you can enter the name of the person, team, or department who created the event.
4. Start Date of Activity
This is the date that the activity actually took place or will take place. For example, you might create an activity for a Facebook ad within the AttendStar system on June 1st (this is the Date Created field), but the ad won’t actually run until June 15th (this is the Start Date field).
5. End Date of Activity
This is the date the activity ends. For example, a Facebook ad might run from June 15th to June 30th. The end date would be June 30th.
6. Description of Activity
A drop-down list of activity descriptions is provided for you to choose from, which includes activities such as:
- Radio advertising
- Radio promotion
- Print article
- Direct mail
- Email campaign
- Facebook post
- Twitter post
- Church mention
7. Activity Cost
This is where you record the cost of the activity. This information is very important since it is used in the reports that help you determine what works and what doesn’t to increase ticket sales and your event’s success.
After your event activity ends, enter the number of impressions (if impressions is an applicable measurement for the promotion) in this field.
Evaluating Your Results and Event Marketing ROI
As you review your results, keep in mind that some metrics will have to be estimated in order to calculate event marketing ROI. For example, a radio station should be able to provide you with an estimate of listeners based on an average quarter hour. For email marketing, you could measure based on the open rate of a message, and for an online ad, you could measure based on the click-through rate (CTR). For posters and other ambient media, you could estimate that 10% of the 1,000 people who pass by will see them.
In addition to any activities that you enter into the Event Activities feature, AttendStar will automatically add system-generated activities such as Event Posted Date and First Ticket Sold Date. To get the most out of the Event Activities feature, be sure to set up Venue Seating and a Seating Goal into the appropriate fields within the Venue Information tab of your AttendStar Edit Event page.
Once you’ve entered your data into the Event Activities feature, you’ll be able to evaluate a variety of metrics and answer questions such as:
- How much does radio cost you per seat?
- What was your artist cost per seat?
- How many tickets did you sell per 1,000 impressions?
- Which event was the most profitable?
- What was the total cost per 1,000 impressions?
- How many impressions does it take to sell a ticket?
- How does a particular event compare to your other events?
You can use the Event Activities feature to measure your activities at any moment in time, but things get really interesting and useful when you compare your results with the results of similar events that you promote and events that other people promote. Through the Event Activities feature, you can quickly see how your results measure up to the results similar events are experiencing.
For example, in the table below, you can see a variety of investments for three fictitious events. By comparing these results, you can quickly see if your investments and results are similar, better, or worse. It’s a great tool for benchmarking!