Everyone agrees it's important to evaluate your event--but what to measure and why is critical.

 

According to the latest corporate event marketplace survey from Special Events, just under half of event professionals say they attempt to measure the ROI—or return on investment—of their special events. But which tool they use—and why—varies from pro to pro.

 

In the survey, respondents listed 10 tools they use to measure ROI. No. 1 was "response from attendees," Learn more by contacting VIP sales.

 

 

1 Response from attendees

 

2 New client leads

 

3 Client retention

 

4 Total attendance

 

5 Revenue

 

6 Survey results

 

7 Quality of attendees

 

8 Response from management

 

9 Sales growth

 

10 Press/media coverage

 

 

All of the criteria on left have their place in determining the ROI/ROO of an event. However, the best programs utilize a combination of these methods, as each one has its own merits. Think of it as combination therapy in the pharmaceutical industry. It is oftentimes that several therapies — when used together — provide the best outcomes. Each has its strengths (efficacy) and weaknesses (side effects), but when combined, they drive optimal results. And just like a good course of treatment starts with a strong diagnosis, a good measurement approach starts with strong objectives. The end goal: Gain commitment and drive performance.