From "Good Vibes" to Asset Value: Measuring Event Effectiveness for Owners

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Executive Takeaway for Owners

Event programming should be evaluated as engagement infrastructure — not one-day entertainment.

When measured correctly, engagement programs support:

• Tenant retention and renewal confidence

• Increased dwell time and cross-tenant spend

• Leasing velocity and tour conversion

• Long-term asset perception and value

This article outlines a practical, repeatable framework for translating consumer engagement into measurable ROI.

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Based on insights from property owners, asset managers, and leasing teams across mixed-use and retail portfolios.

You know the feeling. The music is fading, the last vendors are packing up their tents, and the cleaning crew is sweeping away the confetti. You look around at the empty plaza and think, “Wow, that was a success.”

The energy was palpable. The turnout was higher than last year. The Instagram stories were popping off.

But then comes Monday morning. You’re sitting across from the asset manager or the property ownership group, and they ask the question that makes every creative marketer sweat:

“That’s great, but how did this impact our bottom line? Did it help us sign that new lease? Did it keep our current tenants happy?”

If your answer relies solely on “vibes” or “foot traffic estimates,” you’re likely seeing a disconnect. We see this friction constantly in the commercial real estate and placemaking world. Marketing teams are delivering incredible experiences, but they struggle to translate that magic into the language of ownership: ROI, tenant retention, and asset value.

It’s not that the events aren't working. It’s that we, as an industry, haven't been using the right ruler to measure them.

At VVS Events & Marketing, we decided to stop guessing and start solving this problem. We wanted to bridge the gap between "it felt successful" and "here is the financial impact." Here is what we learned about measuring event effectiveness for owners, and the framework you can use to prove your worth.

The Friction: Why "It Felt Good" Isn't Enough Anymore

For a long time, experiential marketing in real estate got a pass. If the property looked busy and the community seemed happy, that was often enough justification for the budget. But as the market tightens and scrutiny on operating expenses (OpEx) increases, the "trust me" era is ending.

We identified several specific friction points that keep marketing teams and ownership on different pages:

• Qualitative vs. Quantitative: Marketing teams often report on the quality of the experience (smiles, energy, aesthetic), while asset managers need quantitative data (dwell time, sales lift, cost per acquisition).

• The Downstream Disconnect: Marketing and content teams often operate downstream from the event planning. This means they show up to capture content, but they aren't involved in the strategy phase to ensure that content actually supports leasing goals.

• Anecdotal Feedback Loops: We rely too much on what a few loud tenants or attendees said. “The pizza shop owner said it was too loud” becomes the defining metric of failure, even if 500 potential customers had a great time.

• The Customization Trap: As firms scale, founders struggle to balance cool, custom activations with the need for repeatable systems. You end up reinventing the wheel every time, making it impossible to compare apples to apples when measuring success.

The biggest hurdle? Most firms simply lack a standardized framework to translate foot traffic into metrics that resonate with ownership, such as renewal leverage or long-term asset value.

The Turning Point: Listening at ICSC New York

We didn't just come up with this theory in a boardroom. We went to the source.

Recently, our team attended ICSC New York—the premier event for the specialized retail real estate industry—with a specific mission. We weren't there to sell. We were there to listen.

We sat down with property owners, asset managers, leasing teams, and fellow marketers. We asked them the hard questions about how they view placemaking and events.

The consensus was overwhelming.

Almost every stakeholder we spoke to valued placemaking. They knew intuitively that events are crucial for a vibrant property. But—and this is a big "but"—they lacked a shared framework to evaluate effectiveness. While vendors were pitching "activations," decision-makers were asking about "dwell time" and "leasing support."

One asset manager put it perfectly: “Everyone is doing events — but ownership keeps asking how any of it actually impacts leasing and renewals.”

That was our lightbulb moment. The opportunity wasn't just to execute better events; it was to translate the value of those events into a language that ownership understands.

A New Framework: The VVS Event ROI Formula

To solve this, we moved away from simple attendance numbers and developed a more holistic view of ROI.

We believe that Event ROI is not a single number. It is the sum of downstream value streams, weighted by how strongly the event amplified them.

If you are looking to present a report to your owners that actually turns heads, consider using a formula that looks at four distinct buckets of value.

This framework isn’t designed to attribute every dollar of revenue to a single event. It’s designed to help owners make smarter, more confident decisions about engagement spend over time.

1. Customer Lifetime Value (LTV)

This is the consumer impact. It’s not just about how many people showed up; it’s about who they are and what they are worth to the property over time.

Across retail and mixed-use environments, even modest increases in dwell time (often cited in the 20–40% range during programmed events) can materially increase the likelihood of spend across multiple tenants.

• How to calculate it: Even a small percentage of attendees becoming repeat customers can outweigh the cost of an event when viewed through customer lifetime value.

• Why it matters: 10,000 people walking through a property without spending a dime is less valuable than 1,000 people who discover a new shop and become regulars.

2. Tenant LTV Value

For commercial property owners, this is arguably the most critical metric. Does this event help you keep your tenants?

While results vary by category, many retailers view a single repeat customer as significantly more valuable than one-time event traffic when measured over customer lifetime value.

• How to calculate it: Look at the number of Participating Tenants multiplied by their Revenue Contribution, weighted by a "Retention Influence Factor."

• The Translation: If an event series makes a specific restaurant busy every Thursday night, that tenant is happier. A happy tenant renews their lease. A lease renewal saves the owner hundreds of thousands of dollars in vacancy costs and broker commissions. That is real ROI.

3. Media & Content Value

This is often ignored or treated as a "nice to have," but in 2026, it’s a tangible asset.

• How to calculate it: Usable Assets Captured multiplied by the Equivalent Paid Media Cost.

• The context: If you capture 50 high-quality photos and 3 professional videos during an event, what would it have cost you to stage a photoshoot to get those same assets? If those assets are used in a leasing deck that attracts a national retailer, their value is exponential.

4. Sponsor & Partnership Value

This one is straightforward but often underutilized.

• How to calculate it: Cash Sponsorships plus In-Kind Value.

• The strategy: Are you offsetting the cost of the event by bringing in partners?

The Secret Sauce: The "Multipliers"

You might have the right components, but execution is what makes or breaks the score. In our framework, we apply "Multipliers" to the values above. These multipliers reflect strategic execution.

The Engagement Multiplier (0.5x – 2.0x)

This measures the depth of the experience.

• Low Multiplier: People walked through the event to get to their car. They didn't stop.

• High Multiplier: People stayed for 45 minutes (dwell time), posted on social media, and signed up for the newsletter (data capture).

The Tenant Participation Multiplier (0.5x – 2.0x)

This measures how well the event integrated the property's businesses.

• Low Multiplier: Food trucks were brought in from outside, cannibalizing sales from the onsite restaurants. (Owners hate this).

• High Multiplier: The event used a "passport" system that required attendees to visit three different onsite retailers to win a prize.

The Media Multiplier (0.5x – 3.0x)

This measures the longevity of the event content.

• Low Multiplier: The photos are dark, blurry, and unusable for future marketing.

• High Multiplier: The content is "ad-ready," aesthetic, and can be used on the website for the next 12 months to sell the "vibe" of the property.

How to Implement This Strategy to Measuring Event Effectiveness

Moving from "party planner" to "strategic partner" takes a bit of work, but the payoff is worth it. Here is how you can start measuring event effectiveness for owners today:

Define Clear Objectives Aligned with Ownership

Before you book a single band or balloon artist, ask the asset manager: "What is the primary goal for this quarter?"

• Is it leasing a vacant unit? (Then host the event in or near that unit).

• Is it tenant relations? (Then focus on an event that drives sales directly to them).

• Is it general awareness? (Then focus on the Media Multiplier).

Implement Robust Data Collection

Stop guessing. You need methods to capture data.

• Digital RSVPs: Even for free events, use a ticketing platform to capture emails and zip codes.

• Geofencing: Use tools that track foot traffic and dwell time via mobile data.

• Tenant Surveys: Don't just ask "did you like it?" Ask "did you see a sales lift compared to a normal Tuesday?"

Translate Metrics into Financial Terms

When you present your post-event report, don't lead with "people had fun." Lead with:

• "We drove 500 people to the property, resulting in an estimated $5,000 in immediate F&B revenue."

• "We captured content that will save the leasing team $2,000 in photography costs."

• "Two key tenants reported their highest sales day of the month."

Ensure Cross-Departmental Alignment

This was a huge takeaway from our time at ICSC. The marketing team, the leasing team, and the asset management team need to sit at the same table. Share your "Multipliers" with the leasing team. Ask them what kind of content helps them sell. When everyone is aligned, the event isn't just an expense; it's a strategic tool.

The Outcome: Alignment and Confidence

When we started applying this thinking at VVS, the shift was immediate. We stopped having to defend our budgets and started leading strategic conversations.

By using a shared framework, we confirmed industry priorities around ROI and tenant retention. We bridged the gap between the "fun" stuff and the "finance" stuff.

The result? Confidence.

• Confidence for the Marketing Manager: You know your work is valued.

• Confidence for the Owner: They know their money is being spent to increase asset value.

• Confidence for the Tenant: They feel supported and seen.

Measuring event effectiveness for owners isn't about taking the fun out of events. It's about proving that the fun is valuable. It allows you to move from being a cost center to a revenue driver.

If you’re evaluating engagement budgets for 2026 and want a clearer way to connect programming to tenant performance and leasing outcomes, we’re happy to walk through this framework using your property as a real example.

Let’s turn those vibes into value. 🚀