Meetings No 22
Intro
Constructive Journalism
Atti Soenarso: Journalism that offers a fuller picture of our world.
Cover Story
Anna Rosling Rönnlund, Gapminder
“We’re right, you’re wrong. It’s as simple as that.”
Intermission
You have to have Stories to tell
The simple poetry of My Life as a Dog.
Long Tail Insights
The Power and Legacy of Conferences
Stories of serendipity, innovation and driving social change.
Smart Decision
Sustainable Meetings Vital Part of the New Strategy of Gothenburg
Gothenburg has a clear plan.
Radar
African Convention Bureaux Will Lead the Way
Agenda 2063 is a call to action.
Radar
IBTM World Announces Tech Watch Award shortlist
A shortlist of nine finalists has been announced.
Economic Impact
Incheon – Forward-thinking Metropolis
A South Korean city with a demand for business events.
Intermission
You Are Not Safe
Predicting the birth of the Internet with 20/20 hindsight.
Global Index
Gaining Edge Launches Global Competitive Index
Bigger isn’t always more competitive.
Radar
IACC confirms 63 new member venues in Denmark
The new venues are part of Danske Konference Centre.
Sharma
Isn’t It Time? The 13 Questions for Visionaries
Robin Sharma hopes to help you win.
Thought Leadership
A Futurist on the Future of Payments
Anders Sorman-Nilsson: It has to be frictionless.
Radar
Tips for Measuring ROI
Two ROI experts share their insights.
Forecast
CWT Meetings and Events Forecast 2019
Data-driven insight and expert analysis to maximise your results.
Kellerman
Our Knowledge Bank Is Growing
Roger Kellerman: New knowledge flows to us.
classifieds
news
business intelligence
One theme set to dominate 2019,
according to IMEX Group: how to leverage assets
business intelligence
The Meetings Show’s advisory board
predicts the biggest trends for 2019.
Business Intelligence
ICC Sydney Bolsters Legacy Program,
Unveiling Dedicated Creative Industries Stream.
futuristic
IACC partners with industry greats
and World Obesity Federation to bring delegate dietary requirements guide for meeting planners.
business Intelligence
Scottish Event Campus (SEC)
submits planning application to create global facility for world class events.
Hi tech
IBTM Trends Watch report
highlights importance of tech to events industry.
business Intelligence
BestCities
unveil ground-breaking ‘Universal Accessibility in Meetings’ research.
Fast growth
IACC
confirms 63 new member venues in Denmark
Growth from Asia
Asia Pac exhibitors
extend footprint at IBTM World 2018.
IBTM World 2018
When the party’s over… top tips for measuring ROI
top tips for measuring ROI.
Links
Sponsor Logo
Sponsor Logo
Sponsor Logo
Sponsor Logo
Sponsor Logo
Sponsor Logo
Sponsor Logo
Sponsor Logo
Tips for Measuring ROI

Knowing why you’re holding a particular event, and then being able to objectively measure the results against your initial criteria, is a crucial element of event organisation, and yet it is the one part that’s often overlooked after the excitement of the event is finished. Ahead of IBTM World 2018 in Barcelona, two ROI experts, who will be at the event this year, answer the following question:

Q: What are your top tips for measuring Return on Investment at events?

David Chalmers, Senior Marketing Director, Cvent, Europe

1. Be clear what you want to get out of the event Is your aim to increase awareness of a new product? Or to boost new leads and develop prospects? Whatever the reason, clarity is vital at the outset.

2. Engage with your targets before creating the event Find out what the audience really wants from an event so that you have a set of criteria against which to measure your event success afterwards. Research via email and social media too. What format elicits the best reaction? What will excite them about attending a future event, is it with key speakers or a panel discussion?

3. Follow up, follow up, and follow up Consider getting real time feedback by sending a form via a mobile app. This allows you to assess afterwards how well your attendees felt their needs (which you have already pre-defined) were met by the event.

4. Make sure the data you captured on your attendees is sent to your CRM system so your sales team can follow up on leads with personalised information. This kind of detailed information can provide useful nuggets of information to help you hone future events to ensure an even better ROI.

5. Monetise the nos’ Even if delegates cannot attend an event, it is important to find out why and see this as a perfect opportunity to engage with them and even create new business leads. Ensure the registration system is integrated with the company’s CMS system. By doing so you can start collating personalised information about customers and prospects which can help you tailor future events and means that even those who cannot attend your event can still contribute to a positive ROI.

Ilka Dzeik, Senior Partner, Event ROI Institute Europe

Event planners typically know their planning and execution processes of event logistics inside out and often measure the satisfaction with the programme and overall organisation. But it still challenges them to prove the contribution to the business goals of their organisation. Here are some tips on how to prove the true value and ROI of meetings and events.

1. Know how to calculate the Return on Investment ROI is a measure showing the profitability of your event. It is calculated by subtracting the total cost of your event from the total monetary impact and then divided by total cost of the event. The result is expressed as a percentage.

( Total Monetary Impact – Total Cost of the Event ) ÷ Total Cost of Event × 100 = ROI

Most corporations either want to increase revenue or decrease costs by running or joining an event. But there are other events where the ROI might be expressed by its contribution to a certain mission, for example of a non-profit organisation or association.

2. Define measurable objectives before measuring Many event planners measure event success after the event has ended. But measurement starts with defining measurable objectives. Be precise and set concrete success criteria as a benchmark.

3. Set business impact objectives first Identify the primary business impact of your event, together with your client or internal stakeholders. Which role does your event play within other initiatives to achieve this? Does it increase sales or decrease costs or will it for example raise funds by increasing awareness for your mission?

4. Define what you want your participants to DO for a positive ROI Events are all about changing or reinforcing participants’ behaviour. Emotions are not enough, they have to do something which creates value for the stakeholders. You probably have several categories of attendees, so you need to make a list of actions that you want each of them to take. Then ask yourself: ’Why don’t they do it already?’

5. Define the required learning that leads to the desired action What are the barriers preventing your participants from showing the desired behaviour? Do they need information, or to connect with your staff or other attendees, or do you need to change how they think about your brand? Collect participant feedback to find out if they learned something new of value to their job, changed their attitude or developed relationships.

6. Create an experiential learning environment for good learning results The learning objectives can’t be separated from the environment in which learning happens. Room ambience, food, time to network, relevant content and interactive presentation formats are important influencing factors for a good learning environment and measured by the satisfaction level of your participants. Learning through all five senses opens minds and helps your participants to understand, remember and finally apply what they have learned for a positive ROI.

Photo: IBTM World