Why is it crucial to set KPI: Event management edition - Eventory
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Why is it crucial to set KPI: Event management edition

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A strong employer branding is crucial when it comes to the workplace. It will help you create an office full of engaged people who will not only come with a smile on their faces on a daily basis. They will also play the role of the brand advocate in the aftermath. Strong brand also equals an effective recruitment strategy. Events are brilliant tools to enforce your company’s brand as an employer. But for them to make sense it’s important to establish a reasonable set of KPI. Event management calls for it. Otherwise, how would you tell if they work? How to pick the right event management KPI? Examples and their meaning are listed below.

Employer’s brand usually describes company’s fame as an employer. It also refers to the value that the company offers to its employees. Keeping a high reputation involves many factors. The most important one is employee satisfaction. And this is the job for Employer branding manager (A.K.A Office Superhero). Their job is to keep the satisfaction at the rising curve. And their job resembles the one of the marketing manager. The only difference is their product is company image, and their audience consists of employees and future employees.

There are many tools that will help a brand manager to achieve their goals. Many of them are well-known marketing tools. Just off the top of my head, let’s name email marketing, social media and events. All can be used to build the image of a company as an eligible employer. Events hold a special place in a heart of every Employer Branding manager. After all, is there something better than a company Christmas party or a talent-magnet hackathon? The company that lives attracts more and more candidates and keeps residents happy.

Why is it crucial to set KPI event management system for a brand manager?

Let’s make it straight. No marketing plan is complete if you don’t know how to measure it. Even if you have an idea of an outstanding event that will gather crowds, you still have to set some goals. And the best way to express the goals is to find some numbers and benchmarks to describe them.

The main reason to use key performance indicators is for monitoring. Event management, especially efficient event management requires defining goals first. The goals, even in terms of an employer branding event, should be measurable. Simply saying that the event must bring a smile on people’s faces is not enough.

Let’s assume, however, that you were stubborn enough to set this goal. How will you describe event satisfaction and success to your boss? If he resembles most of the CEOs I’ve met, he won’t take “It worked well, they are smiling” for the answer.

If you must stick to the smile define how big part of an audience must smile and in what period. Be specific. Nothing moves CEO’s and COO’s heart as much as well designed charts and tables. Once you settle basics, find the tool that will allow you to measure the success. Maybe some kind of a device that recognizes faces and facial expressions? It might work actually. That drill will provide you with some arguments during the event wrap up. Don’t tell me you wouldn’t want that. Especially if you are trying to convince them to give you a bigger budget for the company events. But KPIs are not only for the CEO.

 

Employer branding managers should use KPIs to measure event management goals

That’s right! C-level managers are not the only beficients of setting a reasonable KPI system for marketing purposes. You as an employer branding manager also should be interested in them. Monitoring event management is the only way to make event success a repeatable experience. The work will be so much easier once you will know what do you aim at.

Employer branding events are various. There are internal events and external events. They all have different goals. Internal stand-ups, parties, and meetups are hosted to build team spirit. They help to come up with some ideas on how to solve current problems and even to discuss together the development course of the company. The external events can be launched to attract new talents, increase brand reach, or establish a certain image.

Only if you know what you want to achieve, you can effectively measure it. And only when you know how to measure it, you will succeed time after time.

How to set KPI? Event management for employer branding managers: 101

As you can see, the goals for the employer branding events differ from one another. Event management goals and metrics should be determined during the planning phase of an event. The first step will be to decide what you want to achieve with the event. Satisfaction of your colleagues, a new perspective on the problems in teams or departments, a bunch of new lightning-in-the-jar-type candidates for the IT? Write it all down. That’s the canvas for your goal map.

Pick the one goal that is the most important from the company’s point of view. Name it the main goal. That will be the key indicator of your success. Then take the secondary goals and segment them in terms of importance. You can additionally divide them into categories of your choice. If I may suggest, focus on main areas of your interest in the company:

  • employee satisfaction,
  • brand image,
  • position as an employee,
  • recruitment efficiency,
  • employee rotation,
  • etc.

Then brainstorm through it and decide what metrics are the best to describe the listed issues. In other words, imagine what should change if you succeed. It might be the number of positive comments about the brand in the social media, positive comments in career websites. You can also track the time or cost that is necessary to hire a new person or a number of new visits on your career website.

The last step is to find tools that will track the metrics and help you measure them. Popular ones are Google Analytics, polls, mention tracking web apps, software for event organizers, event apps and so on.

What are some important event management KPI examples?

Even though each event is different, there are a few key metrics that every employer branding manager should stick to. Here are our top picks and the reason why they are so crucial. We also suggest how to measure them!

#1 Event Attendance

That’s pretty obvious. Still, attendance is one of the key metrics if it comes to any event. It doesn’t matter if the event is of the internal or the external nature. In the beginning, you estimate how many people will come. Event Attendance metric validates your expectations. If you made a Facebook event for the real-life event, you should also check how many of those who expressed the interest online actually came.

Why is it crucial?
The coverage of the estimated audience with the real-life one tells you how efficient were your efforts. Also, it is the basis for further calculations, such as cost per attendee, or ROI. What’s more, it keeps track of pre-event promotion efficiency. For the further events, it will help you keep your goals realistic.

How to measure it?
You can count sold tickets or check-ins. You can check it manually, or use software for event organizers that will do it for you.

#2 Acquisition

Event attendance is somehow like a dinner. You are eating with your eyes. Many people RSVP the invitation but not show up on the event.

Why is it crucial?
This is a common problem, especially concerning free events. By measuring this KPI you will know how valuable was your event for the targeted audience. It also gives you the course on either changing the message and unique value, or re-thinking the target audience.

How to measure it?
This is pretty simple: compare the number of people who RSVP with the number of people that actually attended the event.

#3 Event satisfaction of attendees

Attendee experience is one of the most important factors that will decide about event success or failure.

Why is it crucial?
What’s more to say? If the attendees are satisfied, they will make the buzz around the event and around the brand itself. They will associate your company with the pleasant and exciting experience. They will also market your event (and thus your brand) to their friends. That’s the Word of Mouth Marketing at its finest.

How to measure it?
Use polls. They may seem a bit old-fashioned, but they still work. Use the application or an all-in-one event platform like Eventory to gather all the answers. And check our guide on gathering event feedback for more information. Check the social mentions about the event. Use web-based software to track them and measure the sentiment of the comments. Also, check the sentiment of the comments about the brand itself. Compare the ones from before and after the event.

#4 Audience demographics

If you attract the right people, you are halfway done.

Why is it crucial?
Attracting the right candidates and creating new brand ambassadors will spare you tons of time and money on the recruitment process and PR performance. Checking this KPI leads to the definition of target groups that can be used in further actions.

How to measure it?
Add a few form details to tag properly all registrants in CMR.

#5 Social Media mentions

We live on Facebook, Twitter and LinkedIn. Your event is also there. You should know how people speak about it.

Why is it crucial?
Whether you want it or not, social media are the thing. Every brand lives there and is commented on by the community. Social mentions show you the trends in the social perception of your brand.

How to measure it?
There are a few web-based apps that track mentions and measure the sentiment. Use them to track this KPI.

#6 ROI

The legendary ROI. It’s the metric that describes the monetary return on the event.

Why is it crucial?
Business is not charity. Every action should bring a benefit to the company. And the monetary return is one of its components. It brings you one step closer to answering the question: “Was it worth it?”. Of course, in terms of employer branding ROI is not the final metric, but still… It helps to determine how much money do you need to organize an event, how much should sponsor packs cost and so on.

How to measure it?
Add all the costs of event organization. Check the cost of the venue, catering, speakers, software, beacons, promotion spendings, etc. Then count all the financial benefits that your company gained by hosting it. Compare the two values and there you have it! ROI itself.

#7 Post-event follow-up activity

The event doesn’t end when you turn off the light. Post-event activity will tell you a lot about its reception among the participants.

Why is it crucial?
If your goal was to increase brand awareness end establish a certain image, this is what you need to measure in the weeks following an event.

How to measure it?
Check the social media for the brand engagement, and new referrals. Compare the number of the new resumes from before and after the event. Track the Event hashtag reach. Set proper intervals and compare the values.

As we speak about the post-event activities…

Some important employer-branding KPIs to track after the event.

#1 Awareness

Yes, yes, yes. The same marketing metric that you can use to check how many people know your corporate brand. But, awareness in employer branding refers to something different. It tells you about the number of people that perceive your company as a potential workplace. If you want to be more specific, you can even narrow it down. Exclude people who can’t associate any characteristics to your company as an employer. Then count those who left and compare the groups.

Why is it crucial?
By organizing an event you want to share a certain company’s image and spread its philosophy. You want people to know how awesome you are as an employer, and for them to want to work with you. You don’t want to struggle each time the recruitment process starts. That’s why it is so important to measure awareness among potential candidates.

How to measure it?
Not everyone from your target group will attend the event. That is why you might want to set different KPIs for different groups. Divide the audience using attended / not attended criterium. You can also divide them according to their location. For those who came to the event prepare interviews or polls. Also, check how their perception changed after the event. For others track social mentions and opinions on job portals.

#2 Traffic to your career page

It is always a good idea to analyze website traffic. As an employer branding manager, you should do that either way. But measuring a career website traffic is a special case. That is a solid proof of candidates’ growing interest. People open it by themselves to check if they can apply. Congrats. You have become “the popular girl” who don’t have to chase the opportunities any longer. The opportunities come without even being asked.

Why is it crucial?
If people visit a web page where they can check your job offers instead of using job search engines, there’s definitely something going on. If the need of money-consuming social media campaigns vanquishes – you have succeeded. Thus, you should track how many people visit this particular website. But there’s a catch. “If” is not the only criterium in this case. Check where they came from and where did they go. Check where they came from and where did they go. You will be sure that the increased traffic volume is the effect of your actions during an event.

How to measure it?
A simple Google Analytics should do. The basic metric is and always will be traffic volume. The secondary ones are the source and the URL of the page they have visited in the second place. The source of the visit is important. It will tell you how candidates learn about the possibility of applying for the job at your company. If the number of direct visits grows it means that you are doing it right. If people check the career webpage after visiting company’s main page it’s also good. For the visit – to – application ratio check the URL of the website they visit after visiting the career webpage. If it is the URL of the webpage where candidate applies for the job – congratulations. Everything goes as planned. Same goes for the thank you page that displays after submitting the application.

#3 Cost of hiring a new employee

Recruitment is not a cheap process. It takes time for the qualified workers to do it right. It consumes money during paid campaigns. It requires more time and energy of the recruiters. It all costs. By tracking this metric you have a better control of the process itself. You can also plan some actions ahead.

Why is it crucial?
A the end of the day, your CEO will ask you: “What is the particular benefit that you brought to the company through your actions?” He might ask whether it was worth it to throw an expensive event. If you can prove him that you decreased the cost of acquiring new employee you are a few steps away from becoming his personal hero. As I mentioned, it also gives you a chance to plan ahead the whole process. With the same budget, you can make more to get the best talents for your company.

How to measure it?
Calculate all internal and external costs of the recruitment process. Divide them by the number of candidates acquired during a given time. The number you have is your cost per hire. Balance this value with the application – to – interview ratio. The higher the number of applicants that show, the lower the cost. The last step will be comparing the number of actually hired candidates. But there’s more! You can check the number of people that stayed in the company after the probation period. Compare the numbers before and after the event. It will tell you a lot about its effectivity.

The benefits of monitoring event management performance

The benefits will surprise you. Keeping track of your position on the goal completion map gives you a great value. It shows if the actions you picked to organize and promote an event are efficient. If something doesn’t stick to the plan you have a chance to modify it and adjust to the current situation. You are a few steps ahead! And please, don’t be afraid of the bad news. They are, in fact, a blessing. How many times have you said, “if I only knew that earlier…” That’s your early information system!

The other benefit is that by setting goals and KPIs you can control whom you will invite to the event! That’s right. No more lost medicine students at the IT event. It might seem trivial, but adjusting the audience is crucial if you want to optimize costs for the event organizers (i.e. your company). I bet you have a better use for the money you save. Exclude people who won’t have any interest in presented topics and will definitely not help you to fulfill your goals.

Also, monitoring event management performance is crucial for measuring event ROI. However, the return on the investment may not be enough to determine if it was worth to organize a particular event. Especially if your goal is to increase brand’s reach. Secondary KPIs will help to complete the picture.

Last, but not least, numbers are the universal language that all departments understand. Event organization requires the cooperation of many people. Transparent KPI system eliminates all misunderstandings between them.

As you can see, data analysis isn’t just a domain of SEO specialists or nerds from finances. Every manager should use it to achieve goals and keep the track of their performance.

 

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