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Measuring Value: It's Not a Pipe Dream
Posted on 19 June, 2013 at 7:16 |
A common sequence
surrounding a discussion of ROI in the meetings industry:
It was different because,
courtesy of the Event Leadership Institute, I was in a room full of meetings
professionals who are taking the conversation to the next level, not by asking how
they can measure ROI but by sharing how they do
measure ROI. As part of the process: * Haley Carlson
of The Tribune Group sits down with stakeholders and gets a clear understanding
of objectives for each of the 300 meetings she facilitates a year. * Rachel Gross
of Univision focuses as much on the quality of attendee as the quantity. * Jeff Kaplan of
Discovery Networks, while also seeking the “right” audience, often is concerned
with measuring the “buzz” and coverage generated by his events. * Margaret Savoia
of Ernst & Young establishes metrics and provides management with detailed
reporting on touch points, activity and results. * For some, it’s
as simple as doing something that plays into their bosses’ personal passions. The gathering was the
first in a series of Executive Roundtables to be conducted by the Event
Leadership Institute, which provides high-quality online, on-demand education
on every essential meeting and event category, as well as live events with top
thought leaders and influencers.
It was exhilarating to
learn about a world beyond “ROI Anonymous” where professionals have actually
initiated lift-off with top executives and entered the hallowed heavens of
goals and strategy. It probably doesn’t hurt that their companies’ household
names, products and personalities necessitate careful and collaborative
thinking in order to get it right in the delicate discipline of event
marketing. Hearing some of the
planner anecdotes, David Adler, CEO and Founder of BizBash and, along with
Howard Givner, a principal in the Event Leadership Institute, asked whether the
profession had finally overcome Corporate America’s longtime skepticism that
dumps meetings in a bucket to be unceremoniously emptied at the first hint of
hard times or budgetary concerns.
The answer: Not quite.
While many in the industry still struggle with getting their foot in the doors
of the glamour offices, it’s nice to know there’s hope, and it was expressed in
the processes, ideas and comments that came forth. One participant even
referred to events as “the new luxury brand.” Interesting.
In the case of
entertainment and media companies, ROI could be measured with “fuzzy” goals
like supporting an artist, creating buzz around a new release, exciting the
press, or delivering a “feeling” that something is good….timely….relevant….hot.
As The Tribune Group’s
Carlson noted, “It’s great to get to the point where you are bringing new ideas
to the table and being rewarded for those ideas.” What’s even more
impressive is when you as a meeting planner are in a position to, as Carlson
added, “push back and disagree” with the initial inclinations of management
when you as a planner feel you know better and are not threatened by saying so.
Kaplan of Discovery
insightfully described the necessity – and joy – of being part of the strategic
decision-making when it comes to recognizing planner value. “For many people in
our industry, if you fail you’re done -- simple as that. But at a certain
level, if you fail, you have the opportunity to keep failing,” as long as ideas
and creativity are what’s valued.
If I had a penny for every
time someone has told me to slow down my golf swing and I refused to act, I’d
have enough money for a new set of clubs. Similarly, as much as it is beaten
over their heads, many meeting professionals are in irrational denial when it
comes to ROI. But ROI is not a dangerous drug to be avoided. As proven by the
encouraging progress and results of the roundtable participants, it stands to
improve your life if you’ll make the commitment to simply say yes. Go on, I
know you can do it. (This column first appeared as a guest blog for the Event Leadership Institute at www.eventleadershipinstitute.com.) |
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