Eventroi

Measuring ROI forMeetings and Events

Dr. Elling HamsoManaging Partner

European Event ROI Institute

To LEARN something

which enables me to DO something which provides VALUE to my company

Why are you here?

To INFLUENCE* participants

to DO something which adds VALUE to stakeholders

at the lowest possible COST

* or educate, empower, inspire, persuade

The Purpose of Corporate Events

Satisfaction & Planned Actions

Learning

Application

Impact

ROI

The Event ROI Pyramid

Level 1

Level 2

Level 3

Level 4

Level 5

(information, skills, attitudes, relationships)

How will you use what you learned?

No Probably Not Maybe Probably Yes Definitely Average

Score

Discuss with my colleagues 0% 0% 0% 37.5% 62.5% 4.6

Review risk management procedures in my organisation

0% 0% 0% 50% 50% 4.5

Conduct formal risk assessments before major events

0% 0% 50% 37.5% 12.5% 3.6

Review how we check on suppliers’ safety procedures

0% 12.5% 12.5% 62.5 12.5 3.8

Meet with our insurance brokers to review current policies

12.5% 12.5% 62.5% 0% 12.5% 2.9

Other (specify below) 0% 0% 0% 0% 0% 0.0

Do you know the basic principles of how to assess risk?

87%62240000000AFTER the seminar

40%00004224020BEFORE the seminar

Avg100%

90%80%70%60%50%40%30%20%10%0%

Do you feel comfortable with leading a risk assessment exercise for a major event?



Avg100%

90%80%70%60%50%40%30%20%10%0%

Could you draw a matrix for classification for different types of risk?



Avg100%

90%80%70%60%50%40%30%20%10%0%

Could you list the four different risk management alternatives?



Avg100%

90%80%70%60%50%40%30%20%10%0%

Assigning objectives to levels of measurement

1. Satisfaction, reaction, planned action

2. Learning

3. Application

4. Impact

5. ROI

Objective:90% of attendees will indicate an intention to implement new sales strategies within two months after the meeting

Answer:Level 1 - Satisfaction & planned actions(intentions are always level 1)

Evaluation Planning


1. Satisfaction & planned action

2. Learning

3. Application

4. Impact

5. ROI

Objective:Participants rate the relevance of the meeting to success in their jobs as 4.5 out of 5

Answer:Level 1 - Satisfaction & planned actions

Evaluation Planning



2. Learning

3. Application

4. Impact

5. ROI

Objective:Participants score 75 out of 100 or better on the new strategy quiz

Answer:Level 2 - Learning

Evaluation Planning



2. Learning

3. Application

4. Impact

5. ROI

Objective:Participants will be using the new customer interaction skills in 90% of situations where they are needed.

Answer:Level 3 - Application

Evaluation Planning



2. Learning

3. Application

4. Impact

5. ROI

Objective:Decrease the amount of time required to complete projects by 5% within 6 months of the meeting

Answer:Level 4 - Impact(time may be converted to money)

Evaluation Planning



2. Learning

3. Application

4. Impact

5. ROI

Objective:Participants rate the meeting as a good investment for the company with an average of 4.3 out of 5.

Answer: Level 1 - Satisfaction & planned actions

Evaluation Planning



2. Learning

3. Application

4. Impact

5. ROI

Objective:Increase sales from existing customers by 5% within 9 months of the meeting

Answer:Level 4 - Impact

Evaluation Planning



2. Learning

3. Application

4. Impact

5. ROI

Objective:Achieve a 25% return on investment within the 12 months of the meeting

Answer:Level 5 - ROI

Evaluation Planning


1. Satisfaction &, planned action

2. Learning

3. Application

4. Impact

5. ROI

Objective:Successfully demonstrate new selling techniques during classroom role play

Answer:Level 2 - Learning

Evaluation Planning

• Control groups

• Forecasting methods

• Trend analysis

• Participants’ estimates

• Supervisors’ estimates

• Outside experts

The Solution:The Problem:

OtherInfluences

MeetingImpact

Tota

l m

easu

red

Im

pact

Isolating the effects of the meeting

© Copyright 2004 ROI Institute

Data Analysis

Using control groups to isolate the effects of the meeting

© Copyright 2004 ROI Institute

Retail Merchandise Company – Interactive Selling Skills ProgrammeTwo groups of 3 stores matched on:•Store size•Store location (median houshold income in the area)•Customer traffic levels•Previous store perfomance

Weekly sales 3 months after training ($)

Trained group 12,075Control group 10,449Increase due to training 1,626

(ROI was in this case calculated to be 118%)

Data Analysis

Elements influencing sales increase:

Sales training seminarAdvertizing campaignIncentive programmeProduct improvementsOther factorsTotal

Participants’ estimates of factors influencing sales increase following training seminar

Confidence of estimate Adjusted influence factor

65% (i.e. 6 – 12%) 6%

Influence factor

9%16%7%

49%19%

100%

Data Analysis

ROI estimated to be120% (manufacturer) 320% (UK import agent)

1. Easy to respond, simple and unambiguous questions

2. Clearly relevant questions, no repetition or redundancy

3. Get commitment to respond

4. Reciprocity, deliver something better and earlier than expected

5. Cover letter signed by person in authority

6. Incentive, win a prize, donation to charity

7. Share results (link at end of survey or report)

8. Anonymous (or option to be anonymous)

9. Say how long it will take to complete (honestly)

10. Return by date

How to get a high response rate

11. Reminders with option to opt out

12. Explain why it is important to get their response

13. How can I benefit from results

14. Who will use / see the results

15. Make it compulsory

16. Must complete to get certificate

17. You will learn something by completing it

18. Professional design

19. Elements of humour

How to get a high response rate

Best Event Evaluation AwardsSpain, Italy, Belgium, SwedenInternational AwardsEIBTM - Best Event AwardsEuBEA - European Best Event Award

Event Evaluation Awards

Some useful websites:www.eventroi.org European Event ROI Institutewww.roiinstitute.net ROI Institute, Inc.

Books:“Proving the Value of Meetings & Events” Jack J. Phillips, Monica Myhill and James B. McDonough, available from www.mpiweb.org

”Measuring the Return on Investment in Meetings and Events” Jack. J. Phillips and Terri Brining, available from major booksellers and www.amazon.com

“Return on Investment in Training and Performance Improvement Programs” Jack J. Phillips, available from major booksellers and www.amazon.com

”Show me the Money” Jack J. Phillips, available from major booksellers and www.amazon.com

Books and Resources

5-Day Event ROI Certification Course with Jack Phillips30 August – 3 September 2010, London

1-Day Event ROI CoursesLondon, Amsterdam, Brussels, Dublin, Frankfurt, Barcelona, Madrid, Milan, Copehagen, Stockholm, Oslo, Helsinki, Warzawa, Tallinn, Ljubljana. Information and registration on www.eventroi.org

ROI Courses in Europe

In-house Training Courses1 – 2 days staff trainingCustomer Training Courses1-day course with event agency and customersROI Impact StudiesEvaluate the ROI of your eventROI QuickscanReview and report on the potential improvements in ROI for your event

www.eventroi.org

ROI Training & Consulting Services

Contact Details

Dr. Elling Hamso

Managing Partner

E-mail: [email protected]

Telephone: +47 90 12 24 18

Business

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