Event Income Summary

The “Event Income Summary” report in Reports module of Retention CRM provides Nonprofits, Associations and Chambers of Commerce with a financial snapshot of their online and offline events. It offers insights into how much revenue each event generated by showing key details like event ID, registrations, attendee numbers, and total income. This helps assess the event’s success and identify areas for improvement.

General Functionality of “Event Income Summary” report

Available Fields:

• Event Title: This displays the name given to the specific event (e.g., “Annual Nursing Conference”).
• Event Type: This categorizes the event type (e.g., “Conference,” “Workshop”).

Using “Event Income Summary” Report in Association Management

Nursing Association Context:

• Event Title: Here, you’d see titles relevant to nurses, such as “Stress Management for Nurses Workshop” or “Advanced Cardiac Care Conference.”
• Event Type: Filter by event types commonly held by nursing associations, like “Conference,” “Webinar,” or “Chapter Meeting.”

Additional Filters:

• Event: Select a specific event by its title for a detailed report.
• Event Start/End Date: Set a date range to view income summaries for events held within that period (e.g., all events from the previous quarter).

Scenario: Utilizing the Report

Let’s say your nursing association recently held a conference on “Telehealth in Rural Healthcare.” You can utilize the “Event Income Summary” report in the following ways:

1. Analyze Overall Performance: Check the total income generated to see if it met budget expectations.
2. Compare Registration vs. Attendance: Compare the number of registered attendees with those who actually showed up. This helps identify any last-minute cancellations or registration issues.
3. Evaluate Different Event Types: If you held multiple events (e.g., conference, workshops), compare the income generated by each to see which type attracts more paying participants.

More Use Cases for Associations, Chambers of Commerce and Nonprofits

Optimizing Conference Pricing (Veterinarian Medical Association)

The veterinarian medical association can use the “Event Income Summary” report to analyze income from their annual conferences. They can compare income across several years, looking at factors like:

• Registration Fees: They can see if increasing or decreasing registration fees impacts total income.
• Optional Add-Ons: They can assess the revenue generated by optional extras like conference meals or workshop sessions.
• Sponsorship Packages: By comparing income from different sponsorship tiers, they can identify the most effective packages for future conferences.

This analysis helps the association optimize conference pricing and revenue generation for future events.

Identifying High-Value Events (Tech Startup Chamber)

The tech startup chamber can leverage the report to identify their most successful events. They can filter by “Event Type” to compare income from conferences, workshops, and networking events. Additionally, they can:

• Analyze Registrations by Member Company Size: They can see if events attract more registrations from larger or smaller member companies. This helps tailor events to specific member segments.
• Track Sponsor Participation: They can see which events attract the most sponsorships, indicating higher perceived value among businesses.

By understanding which events generate the most income and attract the most interest, the chamber can prioritize resources and plan future events that provide maximum value to their members.

Fundraising Event Efficiency (Animal Shelter)

The animal shelter can utilize the report to assess the efficiency of their fundraising events. They can compare income from various events like charity galas, walk-a-thons, or adoption fairs. Additionally, they can:

• Analyze Cost vs. Income: They can factor in event expenses alongside income to see which events have the highest net profit margin.
• Track Volunteer Participation: They can see if events with higher volunteer signup translate to increased attendance and income.

By identifying the most efficient fundraising events, the animal shelter can optimize resource allocation and maximize the impact of their fundraising efforts.

By analyzing “Event Income Summary” report, Chambers of Commerce, Nonprofits and Associations can gain valuable insights to improve future events, ensuring they are both financially successful and provide valuable learning experiences for your members, donors, volunteers and other stakeholders.