It’s often all of them, which is exactly why “Did people like it?” is not a strong enough metric.

Vanessa Bennett, Chief Operations Officer at Your Kingsport Chamber described an annual black-tie dinner with 1,700+ attendees that is primarily entertainment and community celebration, with no membership voting built in. That’s a clear strategic choice: it’s not trying to be governance. It’s trying to be a marquee community moment.

Meanwhile, the Moore County Chamber of Commerce went the other direction and eliminated their annual event entirely, shifting to an annual report approach (renewal certificates, emails, quarterly social recap). Their reasoning was brutally practical: venue and meal costs around $175 per person in their market, and the time/energy simply wasn’t worth it for what they were getting back. Same “banquet” category, completely different ROI reality.

Your job isn’t to defend the banquet. Your job is to decide what it’s for, then measure whether it’s doing that job.

If you don't know what the goal is, how will you measure the event's efficacy?

Pick 2–3 primary outcomes. Not seven. Not “everything.”

Here are strong outcome options for banquets:

If you want to measure this like a pro, don’t overcomplicate it. Build a simple scorecard and track it every year.

1) Financial effectiveness

Measure:

• Net profit (not gross revenue)

• Cost per attendee and revenue per attendee

• Staff hours (planning + day-of + follow-up). Convert to a dollar estimate if you want the real number.

• Sponsor fulfillment cost (printing, signage, video, labor)

If your banquet is not a fundraiser, say that out loud and stop judging it by fundraiser standards. Moore Chamber’s point was exactly that. Its event wasn’t functioning as a fundraiser in their environment, and the facility costs made it unsustainable.

2) Sponsor effectiveness

Measure:

• Sponsor renewal rate from last year to this year

• Upgrades (who increased)

• New sponsors acquired because of the banquet

• Sponsor satisfaction (quick survey, 3 questions max)

• Actual visibility delivered (photos, stage mentions, video placements, social reach)

If sponsorship is the engine, you need sponsor data, not just applause.

3) Attendance quality, not just quantity

Measure:

• Member vs non-member ratio (and whether that ratio matches your intent)

• First-time attendees

• VIP/anchor presence (city leaders, major employers, partners)

• Table sales patterns (who buys tables and why)

Melody Tarno-Thompson of the Canton Texas Chamber of Commerce mentioned their gala pulls in non-members because the City, Rotary, and Lions also present awards. That’s not an accident. That’s an intentional attendance strategy: broaden the room, broaden the influence.

4) Awards process legitimacy

This has become a big point of contention recently. Awards are where banquets (and chambers) win trust or lose it.

Options chambers are using:

• Community nomination and voting (used by the Smithville Area Chamber of Commerce)

• Member nominations (but some chambers struggle with low voter participation)

• Board-driven selection (fast and controlled, but can feel “inside baseball” if you don’t communicate criteria)

Measure:

• Number of nominations submitted

• Diversity of nominees (industry, size, geography, demographics if appropriate)

• Complaints or confusion (yes, track this)

• Post-event sentiment: “The winners felt right”

If your banquet is beloved but the awards feel stale, the event starts to drift into “nice night out” territory, which is fine, unless you need it to do more than that.

5) Member value and retention signals

This is the hardest to measure, but it’s the most important if your chamber is fighting nonrenewals.

Measure:

• Renewal rate among attendees vs non-attendees (simple comparison)

• Sponsor retention lift

• Post-event conversions: new members, new leads, new committee interest

• A single “why it mattered” question in your follow-up survey

Bianca Romero, President & CEO at Barnesville-Lamar Chamber of Commerce, described a smart split: a paid, special sit-down awards banquet, plus a separate informal member appreciation party that’s free. That structure protects the “specialness” of awards while still delivering broad member love in a lower-cost format.