Reviewing ROI Analysis for Event Impact
We’ve planned the evaluation, collected data, and analyzed the results. Now we’re past the basic numbers and on to the best part of a winning corporate event: communicating the results. As you build your case to present, continue to communicate with the key stakeholders through the process — keeping silent is one of the worst things you can do!
You need to plan to deliver the results to the right people. While you prepare the content, carefully consider your audience and the media format best suited to them. Here are factors to consider for a successful post-event ROI analysis.
Planning the ROI Analytics Report
In Return on Investment in Meetings and Events, the authors lay out fundamental principles or qualities of effective communication. Communication should contain these key characteristics(1):
Timely
As you plan the report for event ROI, maximize your timeline and give yourself a realistic yet firm date for the presentation.
Targeted to specific audiences
Keep your audience in mind and tailor the reports to their desires and expectations for the corporate event. Be sure the results come at the most appropriate time for the executives and stakeholders.Contain carefully selected media
As you decide how you will report to the stakeholders, think through if a PowerPoint presentation or a simple memo to the executives would be appropriate. Packaging can be everything!Unbiased and modest
When developing content, stick to the observable facts and leave opinions (as difficult as that may be) out of the data. You want your decision-makers to be able to see the ROI analysis for themselves.Consistent
Keep in mind the standard practice/timeline for communicating within the company. Be sure to provide feedback within the normal amount of time and methods they are accustomed to.
As Philips says, “If executives see the activity as an investment with a positive ROI, then there is a reluctance to minimize or reduce it.”(2) Corporate events succeed when they provide the best experience for the attendees and deliver winning results in the post-event data!
Wrapping Up: Event ROI is all about the processes!
Following the ROI Methodology may seem daunting at first. But, when you are equipped with the system, you’ll find that corporate event ROI is all about having processes in place to ask the exact questions, plan the singular solution, gather the correct data, and provide accurate numbers for the stakeholders. Event planning can always provide a return on investment when you partner with planners and companies with proven results from tried-and-true methods.
Interested in knowing more about our approach or ROI analysis? Contact Sally Mainprize to set up a consultation.
For great information on ROI in the meeting and events industry, check out Return on Investment in Meetings and Events!
Philips, Jack J. et al. Return on Investment in Meeting and Events. Butterworth-Heinemann, 2008, p. 230-231
Philips, Jack J. “The Roi Methodology in 12 Easy Steps.” ROI Institute, 2019, p. 26
