ROI is not a monster!
Our World | On 23, Dec 2010
The key to producing an event with a tangible ROI is to share the issues and challenges at the heart of your business with your agency or your internal event manager. Determine how you’re going to measure success at the outset and if the proposed event is the most effective use of budget to convey your business message(s). Focus on communications and marketing to resolve issues – these areas are often overlooked but can be fundamental to hosting a successful event.
We often see clients get carried away by the glamorous aspects of an event while the serious or mundane elements take a back seat. The message can (and often does) become lost mid-way through the planning process, which equates to an enjoyable experience, but nothing more than a ‘jolly’. In this scenario the event itself shouldn’t be blamed, it’s the planning process that needs to be put in the dock.
Sadly events don’t just happen for the fun of it anymore! We all have to justify some return on the original investment and create a lasting impact that will drive the business forward. It’s intriguing to think that the best form of reward for most organisations is the classic incentive, yet companies were all too eager to drop them during the recession. I’m hoping that 2011 will break this trend and see a steady return to the tried and tested motivational programme.
Conversations that I’ve been having indicate that ‘incentive’ is no longer a dirty word. Companies aren’t afraid to say that if their staff work hard and bring in business then they deserve an exciting reward. Some seem to have gained a true appreciation through this difficult spell for the humble incentive programme. A classic case of missing something once it’s gone?
The solution is simple; plan your incentives and events thoroughly. They have to be managed efficiently with clear cut objectives. If this is achieved then you’ll see a real improvement in staff performance. Successful events drive employee ambitions and focus to achieve targets and thus secure their place on the communications plan.
Susan Sexton, Events Team