The hidden face of ROI: Forgotten factors you can’t afford to ignore

Analysing return on investment has become crucial, especially considering the current economic climate. However, measuring the ROI for a conference or a presentation may be a complex task if you want to go beyond budgets and costs.

We tend to think that the key to profitability is reducing costs, but there are other “overlooked” variables that factor heavily into obtaining a return on investment for an event or meeting that must also be taken into account.

Companies must go on a treasure hunt in order to determine which variables are adding value for their team or their brand during their events. Thus the trend towards analysing factors that go beyond merely economic considerations is on the rise. If you correctly interpret these variables, you’ll discover the real impact of your event or meeting, and it will help you to prioritise your next investment.

At this point, you’re probably wondering: what are these variables that are so important? Since each event has its own hidden variables, the points below will help you determine what they are:

Learning and content 

The knowledge gained by attendees during a meeting and the impact of a sales event in terms of user behaviour are variables that have a direct impact on your ROI.

And how can this be measured? Don’t limit yourself to measuring it only during the event itself. An event is a process that should be measured from before it is set into motion, until some time after the event. This way, you can compare the results with earlier data and determine whether or not the objectives of your event were actually met. The use of tools such as blogs, online communities, networking technology, games, and evaluations will allow you to quantify the experience of your attendees in order to conduct an analysis.

Architecture and design

Meeting design can have an enormous influence on participant behaviour, in addition to introducing a certain degree of competitiveness, since the experience of the attendees is closely tied to the environment in which the event takes place.

And how can this be measured? It is important to evaluate how the architecture of an event has contributed to the professional relationships and how the design has influenced productivity by carrying out surveys or evaluations. If you compare this data to the information gathered using the tools that have contributed to the unfolding of the event, you will see whether or not the architecture of your meeting has had a positive influence on performance.

By keeping these key points in mind when holding an event or meeting, you will gain valuable insight on the strategy of your event and on your attendees. This way, in addition to reducing costs, you will gain customer loyalty and increase your productivity.

Consult with one of NH Hotel Group’s meeting and event planning experts to gain a clear overall picture and to ensure that nothing gets missed. Keep an open mind and discover all of the variables associated with your event that contribute to your ROI.