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How much did your event cost? Are you measuring ROI?

By: David Wilson

, Mar 31, 2015

Our company does over 50 events a year, this positions us uniquely as an observer to what works and what doesn’t. It still surprises me as to how many events exclude measuring the return on investment as a planned event objective or the objectives have not been clearly defined.

Events cost money, a lot of money.

In the current economic climate of today can we afford not to be measuring ROI from our events? I believe we should be. While popular experiential marketing is expensive and risky should businesses still allocate budget to items that are not measurable? I’d be interested to know your thoughts.

Very Bored Audience

Source: https://dailypurch.files.wordpress.com/2013/09/audience.jpg

Leverage technology to your advantage

There are so many tools at our disposal, new technologies like event applications and not so new technologies like response technology should be changing the way we all do events.

My opinion, if you are not setting measurable event objective right at the start of planning an event you are already wasting money.

Questions to help you plan better

Here are some basic questions I would recommend asking when planning your next event;

  • General:

Do we need to have the event?

Why are we doing this?

What specific outcomes do we want for attendees after the experience?

What specific outcomes does the meeting organiser after the experience?

  • Branding:

All events will affect your brand, fact. So what are your branding objectives at the event?

Are you looking to build brand awareness or brand experience or brand activation?

Are you measuring audience perception?

How are you going to measure this?

Only when you are clear about you objectives and event purpose can you begin to look at the metrics to measure your effectiveness.

Participate Technologies offers a range of technologies that can assist in the measurement of your objectives. Isn’t it time you started considering the tools and technologies available and started using them and making measurement a priority?

Contact us for a free consultation regarding improving your audience experience and value of measurable feedback for your next event.

About the Author: David Wilson

Husband, Father, Entrepreneur, Event Professional and Problem Solver passionate about life, people, education, and South Africa. Most of my day is spent with the team at www.participate.co.za, I'm a silent partner to my wife's online retail business www.kidscargo.co.za and recently teamed up with Lisa Illingworth to launch Future_ProofSA teaching kids how to become entrepreneurs. I live in the wonderful city of Johannesburg and am blessed to be surrounded by family and friends who I love.

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