event roi - return on investment
DESCRIPTION
In this presentation we shortly go through Event Return on Investment. We will show you the different steps to take in Event ROI and what to think of when planning your event. In the end of the presentation you will have the possibility to download a guide, which presents different ways of calculating event ROI. Hope you enjoy our summary and guide!TRANSCRIPT
Event ROI RETURN ON INVESTMENT
by Lyyti.com - event management software
• ?
The three most important questions regarding events are:
1. Why do we hold this event?
2. What’s the goal for this event?
3. How do we / participant / other stakeholders benefit from this event?
• Set clear and measurable goals for the event
• Have a professional staff that can lead you towards the GOAL
Focus on the BIG picture
• Return on investment means net sales revenue minus costs
• ”net sales” can be actual sales or a benefit such as a cost reduction
What is event ROI?
EVENT ROI= BENEFIT OF THE OBJECTIVE- EVENT COST
EVENT COST
”Net sales” can be as follows:
1. A tangible benefit that is directly associated with a value (e.g. average lead revenue).
2. A tangible or intangible benefit that is indirectly quantified by comparison to an alternative method (e.g. how much money would otherwise need to be spent to achieve the same result in another way).
3. An intangible benefit that cannot be valued in monetary terms. (e.g. more motivated personnel).
What is event ROI?
1. SET CLEAR OBJECTIVES
• Example objective: ”Because it creates value for the stakeholders”
• When the objective is clear ask ”HOW?” How will the event create value for stakeholders?
Four steps to maximize event ROI
2. MAP ACTIONS
• Action is the only way to generate value• Make sure that everyone in your event
team is aware of the action participants should take at each stage of the event
• Focus on the pre-event phase, since that’s where most events fail
Four steps to maximize event ROI
3. MEASURE AND EVALUATE
• ”If it’s not measurable, it doesn’t exist”• Sales after an event can be measured
with the help of an CRM campaign• Ask participants if they actually took the
actions you wished them to take
Four steps to maximize event ROI
4. LEARN
• If you didn’t reach your objectives, then ask yourself what should be done better next time?
• Find the answer so you can improve your event and ROI for next time!
Four steps to maximize event ROI
Download the full whitepaper at
http://academy.lyyti.com/en/event-roi-guide
Thank you for reading!