You’ve taped up your last box and said your last goodbyes. Your event is officially over! Your sponsors were smiling throughout the event, and you didn’t hear any complaints. All of this is a clear sign that your event was effective at helping sponsors reach their goals, right? If this is how you measure success, it may be time to adjust your measurement model.
Events must benefit your sponsors, too. When properly executed, events have an amazing ability to enhance business relationships, increase brand awareness, and drive sales for your sponsors. Creating an effective measurement strategy is critical to understanding the value your event delivers to your sponsors and can inform your strategy for continued successful results for both.
Here’s how to get started creating your measurement strategy:
• Don’t wait to gather feedback. By the time you return to the office, you’ve probably already forgotten key details about the event. That’s why you should distribute a satisfaction survey to sponsors on site, before the event is over. This way, your sponsors’ true compliments (or complaints!) will be captured while still fresh in their minds.
• Measure the right data. Some questions to ask: Was this the right audience for their business? Did they get value from relationships at the event? Did they close the sale? Should you conduct a follow up in three months to see it they converted any leads? All of these questions are valuable insights for sponsors to consider when evaluating the event’s success.
• Let them know you are listening. You might consider an incentive for fast feedback. Be sure to thank your sponsors once they respond. If you use sponsors’ feedback to change your plans for future events, let them know. Don’t be afraid to place a follow-up call if a sponsor needs more attention. This may be especially helpful if some of your sponsors had a negative experience at your event, as it may give them the encouragement necessary to consider joining you for another, revamped event.
An effective sponsor relationship continues long after the event is over. Show your sponsors just how beneficial your event was to their bottom line with a strong measurement strategy.