Return on investment measurement
Events that Matter founding partner Owen Hills is a member of the ROI Institute and a consultant to organisations looking to improve their event measurement techniques.
Says Hills...
"Organisations of all types want value for their investment. It’s therefore not unreasonable that execs require marketing departments to quantify the return they are getting for the millions of pounds spent."
In our Events Profession this has translated into two different levels:
1. The challenge to demonstrate how we strategically manage the business of events. Are we good guardians of the human and capital investment made? This has lead to an increased interest in:
- Strategic Planning
- Consolidation & Leveraging of Activity and Resources
- Creativity/Brand Relevance
- Wise Purchasing
- Partnering
- Outsourcing
- Technology
- Data-driven decision making
2. What is the return we are making
- On objectives?
- On finance?
The purpose of the ROI measurement methodology is to define objectives in five different levels. The fifth level is the acceptable return on investment (ROI) – the financial impact of the event. These objectives define the expected pay-off from the event, and compare the cost of the event to the monetary benefits.
The benefit of a clear, consistent and efficient method of measuring events is compelling.
For further information contact us