“In God we trust. All others must bring data.” – W. Edwards Deming, statistician, professor, author, lecturer and consultant.
When determining your KPIs for an event, program or sales/marketing initiative, each tactic requires its own metrics. Metrics are key in order for us to evaluate how we can grow, determine if you are in the right event(s), track the success of your activation program, assess staffing issues and several other key factors that will ultimately enable you to achieve (or prevent you from reaching) your company goals.
While an event is underway, what are the questions or concerns that will keep you up at night? Questions such as:
- Did my staff on-site hit their daily sales or lead goal?
- How many people walked into the booth but didn’t convert?
- Are we obtaining the impressions we need today in order to hit our total CPM allocation in the sponsorship (which cost us way more than we had hoped)?
All great late night questions, and if your KPIs don't overlap with some of these concerns, it’s time to re-evaluate or establish new KPIs that are specific to each campaign. By following a few simple tips, you should be able to turn those questions into clearly defined KPIs and understand the best way to use them.