Washington D.C., Bikers, and Return on Investment for Events

I was in D.C. last week for the classroom portion of a certification course in return-on-investment methodology. The course is among the most valuable I’ve taken, and I can’t wait to apply it to the events we create for our clients.

As I was heading to the airport to return home, a real-life example of how essential ROI planning truly is, stopped me in my tracks.

Our classroom was just across from the D.C. Mall; when my Uber driver picked me up Friday at noon, there was quite an incredible sight. Bikers were parked, riding, and pouring into D.C. from all directions. My driver reminded me that Sunday was the annual “Rolling Thunder” Memorial Day demonstration through D.C. to bring attention to POWs, MIAs, and the government's accountability to return all home.

Demonstrating the need for ROI in Events

Motorcycles of every color, size, make and model, new and old, stock and highly customized, gleamed in the midday sun. The riders mirrored the diversity of their bikes. They varied in age, ethnicity, gender, attire, and physical characteristics. Bikers with vast differences as individuals were gathering together for two common causes: the desire to honor the fallen and a passion for the ride.

Being the type that cries at parades, I got a little teary when my driver snapped me out of it.

“They say this is the last year for the ride.”

What? A quick search on my cell phone proved he was right. The non-profit group that organizes the demonstration stated financial concerns as the main reason for discontinuing the annual event. My week of deep-diving into return on investment for events, coupled with what I was hearing and seeing, struck me like a bolt of lightning.

I don’t have the right to judge without knowing much more about the data and reasoning behind the decision. At the same time, I can’t believe there isn’t a path to some pretty remarkable monetary return for this event — not to mention the non-measurable values of patriotism, cooperation, and the expressions of support from and for the country and her people.

My brain exploded with questions. Could we see this event go beyond simply covering costs to raising money to fund other activities that support veterans? Did this event become misaligned with the business impacts for the organization, or was it ever aligned with the business goals? Does the organization have an event professional who understands how to strategically align this event with the organization's needs? Has the return on investment or the non-monetary results been accurately measured? It is rarely only about the money in our industry — behavior change, motivation, and inspiration are essential measurables too.

I’ll be watching to see how this plays out. The publicity surrounding the event has created a rallying cry for its survival. At a minimum, the end of this event will serve as a prime example of the failure to plan events for business impact. Without knowing the goals, aligning the event to those goals, designing for the desired outcomes, and accurately measuring the event's performance in monetary and non-monetary ways, we’ll continue to see events sacrificed.

Without understanding the actual return on investment, the cost of an event appears only as an expense and not an investment. My hope is that my fellow meeting planners can change this mindset throughout the events industry.

Roll-on, Rolling Thunder.