Must-Have Metrics To Calculate Conference ROI — Infographic
Many conference and event organizers are finding costs to be on the rise and have argued that measuring their conference ROI has become scary and cost prohibitive. We believe that there are certain metrics one should focus on more so than others to effectively evaluate success both long and short term.
Before calculating ROI you must have a few baseline metrics in place. If you don’t already have these numbers handy, we’ve done the work for you below to help you get on track — better late than never! These calculations are based on industry-wide standards and target ratios are based on a minimum value to profit.
You’re ready to calculate your conference ROI
Now that you have your baseline metrics in order, it’s time for the fun stuff — to discover how profitable you are. The target that is set for signups is three times the customer acquisition cost (CAC), which is what we believe the bare minimum to be. We suggest aiming for five times the CAC dependent on your business goals and budgets.
And now that you’ve calculated the return on investment for your conference, you are ready to start A/B testing different variables to further increase company profitability. Maybe try inviting different speakers to your next conference. If you have any tips or tricks on increasing and measuring conference ROI, let us know in the comments below.
As always, Happy Planning!