How do you measure the long-term value and retention of your event attendees?

1 Define your goals and segments

Before you can measure the long-term value and retention of your event attendees, you need to define what you want to achieve and who you want to target. Depending on your event type, purpose, and industry, you may have different goals and segments for your event marketing strategy. For example, you may want to increase brand awareness, generate leads, nurture relationships, or drive sales. You may also want to segment your audience based on their demographics, interests, preferences, or behavior. By defining your goals and segments, you can align your measurement strategy with your desired outcomes and audiences.

2 Choose your metrics and tools

Once you have defined your goals and segments, it’s important to select the right metrics and tools to measure the long-term value and retention of your event attendees. Customer lifetime value (CLV) is a metric that assesses the profitability and loyalty of your event attendees. Additionally, customer retention rate (CRR) is the percentage of customers who remain loyal to your brand over a period of time. It is also beneficial to consider customer churn rate (CCR), which is the percentage of customers who stop doing business with your brand. Lastly, net promoter score (NPS) helps you gauge the satisfaction and advocacy of your event attendees. There are various tools and platforms available for collecting, analyzing, and visualizing these metrics, such as surveys, CRM systems, analytics software, and dashboards. It is important to choose the tools that best fit your needs, budget, and integration capabilities.

3 Collect and analyze your data

After you have chosen your metrics and tools, you need to collect and analyze your data to measure the long-term value and retention of your event attendees. You should collect data from multiple sources and touchpoints, such as registration forms, feedback forms, email campaigns, social media, website, and mobile app. You should also analyze your data regularly and consistently, such as before, during, and after your event, as well as over a longer period of time, such as quarterly or annually. You should look for patterns, trends, and insights that can help you understand the behavior and loyalty of your event attendees, as well as the strengths and weaknesses of your event marketing strategy.

4 Implement and optimize your actions

Finally, you need to implement and optimize your actions based on the data and insights you have gathered from measuring the long-term value and retention of your event attendees. You should use your findings to inform and improve your event design, content, delivery, and follow-up, as well as your overall event marketing strategy. You should also test and experiment with different tactics, channels, and messages to see what works best for your goals and segments. You should monitor and measure the impact of your actions on your metrics and tools, and adjust them accordingly.