How to achieve a positive Return On Investment
The bottom line of measuring Return On Investment (ROI) is that it is all about time and money. Positive ROI can be achieved once you know what the meeting objectives are. So, when you’re planning an event you need to know why it is being held. All events should have a measurable aspect, otherwise what is the point of holding them?
Whether the objectives of the event are to increase sales, spread knowledge, improve productivity, promote brand awareness, reward clients, motivate staff, promote best practice… there is still a goal.
Here are some points to think about when planning, to make sure you get the best results:
Identify key stakeholders and what they want
* The budget holder
* The venue
* You, the organiser
* Sponsors, speakers, content providers
Questions to ask in your organisation
* What should be achieved from the event?
* How is the success going to be measured?
* What is the profile of the attendees?
* What is the delegates current understanding, knowledge and awareness of the issues to be discussed at the meeting?
* Can you conduct pre-event research to verify this?
* Can you conduct post-event research to measure learning, application and business impact following the meeting or event?
* Who needs to know how effective the meeting has been?
* Who is going to produce the meeting report?
* What is needed from the venue/location?
Questions to ask the venue
* Would the venue include any extras to improve the experience?
* Can the venue add any value to support the objectives?
Content provided by the Event Organisers' Guide by Trinity Conferences Ltd