Breaking down the event success formula: All for one and one for all.
Increasing the number of registrations might be seen as the main goal of the event marketing efforts but is not limited to it, though already being a key element thereof. Increasing show-up rate and following up to build stronger relations for your next event/offer are also as much important as the number of registrations itself.
Increasing the show-up rate is especially critical for the free event providers. Even the most successful events have no-shows. Things come up; people can’t make it. Moreover, skipping a free event has no financial consequences. Accordingly, free events tend to see much higher dropout rates — up to 50%, according to a survey of free event creators, published on Eventbrite.
Follow-up communication is another important factor to elaborate on. In the fierce competition of almost every business vertical, marketing is all about building relationships rather than one-time sales interaction. For that reason, keeping engagement high with the attendees even after the event helps a lot for your next event or with your premium offers.
To simplify, let’s break down important factors of an event’s business performance into a formula: