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8 Min Read

Event Automation Series Part 4: Post Event Reporting & Nurturing Repeat Bookings

Over this four-part blog series, we have explored event automation and why venues choose to automate their processes. We also learned about automating the inquiry and conversion stages of the event management process, and how to leverage technology to plan for and deliver memorable events. In this final post, we focus on how automation can help venue and event professionals to analyze the success of their events and nurture repeat business.

The Six Stages of Effective Event Management

Six Stages 4

Analyzing the Success of Past Events

The penultimate stage of the event management process is to produce detailed reports to analyze the event's success from both a business performance perspective and customer feedback.

Here are some examples of ways that venues can use technology to automate the reporting process:

  1. Scheduled Reports - Create customized report templates automatically distributed to your relevant team members at regular intervals (e.g., immediately following an event or on a daily/weekly/monthly/quarterly/annual basis, etc.). Scheduled reports ensure all staff are on the same page and have access to accurate insights to monitor business performance, identify risks and plan for the future. For example, your scheduled reports could include:
    • Profit and Loss (P&L) analyses per event
    • Summary of outstanding invoices and payments
    • Usage or stock level report for inventory items
    • Utilization/occupancy reports
    • Sales reports, including the number of leads, conversion rates, forecasts, event revenue by event type, event revenue by market segment, etc.
  2. Display Key Performance Indicators (KPI) on Staff Dashboards - Ensure staff monitor their KPIs by creating tailored dashboards within your CRM. Consistent monitoring makes it easier for staff to identify and resolve any issues in their performance and encourages them to work towards business targets.
  3. Interactive & Online Feedback Surveys - You must capture feedback from the primary contact/event organizer and attendees at the event to understand your net promoter score (NPS). To do this, you can provide interactive surveys throughout the venue, on mobile apps, or email them to attendees following the event. Once you have captured the feedback, it is best to integrate survey results into your CRM to have a complete picture of the event's success, including financial metrics and customer feedback results.
  4. Track Lost Business - Use a CRM platform to record and report on the opportunities that did not become a confirmed booking to find ways of improving your business. For example:
    • Price - If a customer says you are too expensive, do you need to review your pricing structure? Or are you not communicating that you are a premium brand that can offer better value than an alternative venue?
    • Desirable Date – Have you had multiple inquiries about a specific date? If so, consider imposing a minimum spend on that date to increase your yield in the future.
    • Lack of functionality/too small – Are people constantly confused about the space or the services/facilities you offer? If so, how can you help prospective customers to understand your product/service offering better? Alternatively, can you use this information to inform future investments, such as plans for renovations or extending your product/service offering?

Leveraging Technology to Nurture Repeat Business

The final stage of the event management process is to nurture repeat business. There are many benefits of repeat bookings, including lower acquisition cost, a faster sales process, additional opportunities for upselling products and services, and, most importantly, less involvement from the venue team to capture and convert the booking.

Here are three prime examples of ways that venues can encourage existing customers to book again:

Rewards for Top Hirers - Use your CRM to identify frequent hirers and reward them for their repeat custom with complimentary upgrades and other VIP privileges to encourage them to continue to book. For example, depending on the type of venue you could offer:

  • Preferential bookings for key dates
  • Beverage/catering beverage package upgrades
  • Tickets to other spaces/experiences within the venues such as tours, restricted areas, bars, or interactive attractions like museums, etc.

Loyalty Programs for Repeat Bookings - Nurture existing clients into becoming more frequent hirers by offering tiered loyalty programs whereby clients gain more incentives based on the number of bookings. Track their bookings in your CRM and notify them of their progress to encourage them to progress through each tier.

Keep Customers Informed - As well as incentivizing repeat patronage, you must keep customers interested by sending them details of what is going on at the venue throughout the year, e.g., season menu changes, promotions, holidays/special day celebrations, etc. In addition to promoting the venue through your social media channels, use your CRM to contact your customers via email and text at regular intervals to keep your venue top of mind when they are looking for a place to host an upcoming event.

Want to learn more about Event Automation?

Download our eBook to learn more about how to automate every stage of the event management process.

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Or read earlier posts from this series: