Measuing the value of events – is there a ROI?

Return on Investment (ROI) plays a key role in measuring the success of an event, and hiring a good event planner can help achieve this added value. Measuring the outcome of an event is a key objective that organisations will ask prior to approving. This raises the question on what clients actually benefit from by organising an event, and if there is actually a ROI. Managing a seamless event is the most important KPI for an event planner, however as businesses start to realise there are greater benefits, planners now have the opportunity to strategically coordinate events to create a measurable ROI for clients.

 Clients want to see there are results that come out of their event, and the first place to start is to determine what your event goals are. For example, is your goal to increase sales and website traffic, promote product knowledge or develop influencers and brand ambassadors? Once goals are established, you can then tailor your event in line with these objectives and measure it through sample groups such as attendees, sale figures or website analytics.

 Understanding the ROI is crucial to planning events, so we have compiled three added values you can see be put into action after executing an event.

1. Putting words into play

A successful event can engage participants in working towards the key message of the company, which will flow into their work and create stronger team dynamics. From putting their learning’s from the event into action, there will hopefully be a rise in performance, sales and brand loyalty.

2. Growing stakeholder relationships

Major benefits from hosting an event can be creating new relationships with corporate partners or sponsors and building stronger connections with current partners. Sponsorship packages can reduce the cost of the event, while also providing opportunities for the client and their stakeholder to develop stickier relationships, encourage new opportunities and provide your client with new target markets to reach out to.

3. Getting your name out there

Brand awareness is inevitable when organising an event. When approaching new stakeholders for sponsorship, it increases your brand’s exposure to both the public and potential suppliers. Scoring media coverage can also generate buzz and hype, as events often are newsworthy and timely stories. There are also plenty of opportunities to get your brand’s name exposed with social media that can result in site traffic, increased engagement and brand knowledge.

 You only have one chance to execute your event seamlessly, so make sure you get the most out of it! The Elevate team know how to organise and achieve faultless events and can help with your ROI, due to their extensive knowledge in corporate conferences, launch events and project management. Call us now to find out how we can help manage and plan your event this year!