Can you easily work out the return on investment from your events?

Can you easily work out the return on investment from your events?

Data is like gold dust if you look after an events programme or sponsorship portfolio. If you’re an event manager without easy access to accurate data, you will always find it difficult to calculate the return on investment from your events.

Why do you need data?

Event Managers almost always have to report on the performance of their event and sponsorship portfolio in some way. Maybe this happens on a regular basis, maybe it’s monthly or quarterly or maybe it’s event-by-event.

You might need to provide a formal written report supported by diagrams.  You might just need to write a quick email.

No matter when or how you have to report, the information you provide should be accurate and valuable to whoever you’re reporting to. It should also be valuable to you and your events team. Good data and good reports mean you can do more of what works well and less of what doesn’t.

However, here at Eventrax, we often come across prospective clients who find reporting on their events in this way really quite difficult. Sometimes, it’s completely impossible.

Why is working out the return on investment from your events so difficult?

Working out whether you are bringing a return on investment from your events needs accurate data. You also need to be able access that data easily.

Many events teams use multiple spreadsheets. Other teams sometimes use several different systems to organise and run events, convey ticket allocations and send invitations.

If this is the case, then you may not be able to get all of the data you need. Even if you can, it might require you to export information from several different places and then manually match it up before you can get to the ROI figures.

What’s more, the moment you identify a potential opportunity or problem, you’ll then need to create a new report to gain deeper insight. This will most likely mean starting the process all over again with more data exports and manual data crunching. It’s time consuming, to say the least.

A single system that reports on the return on investment from your events is the answer

If you’re dealing with your own event reporting headaches, then you might need Eventrax.

Eventrax is a centralised event management system within which your entire events team and wider business can organise and manage your events and sponsorship assets. We’re events people and we’ve designed the platform for events people.

Ticket allocations, approvals, invitations and responses all being handled within the one solution. The system’s powerful reporting capabilities then allow you to see in real-time how effectively your events and sponsorship programme is running.

You have access to a wealth of accurate data – that vital gold dust! It’s easy to report on enquiries and bookings. You can look at current and past data, seeing what customers were entertained. Expenditure reports then show you how much was spent and what the ROI was. All in one, simple system.

If you want to stop having to spend ages crunching data to generate reports on your events, get in touch or find out more about Eventrax.