In my last blog, I expressed my opinion that successful meetings and event professionals must use their knowledge to design better events and then communicate the business value of face-to-face meetings to the budget owners.
If planners can’t prove that our events add value and achieve objectives, events will be seen as a waste of resources.
Have you followed the link in the February issue of The Steve Report to the Executive Summary of the M&IT 2010 Market Report?
Over half of the Canadian planners who completed the survey said they have felt more pressure to calculate return on investment (ROI) on their meetings/events since the recession started, but only 11 per cent measure or even have a standard way of measuring the ROI of their events.
Could this possibly be the last generation of professional event planners?
If we can’t demonstrate the value of our work, I don’t know who will employ us in the future.
I hate to say this, but if the only service the planner provides is locating venues and managing logistics, the Internet can provide the tools and basic skills necessary to fulfill those functions.
If we are to enhance the value and reputation of the planning profession, we need to do more.
We need to understand our company’s (or our client’s) marketing or corporate objectives, make suggestions on how events can help achieve those goals, and then be able to measure and prove it.
If you are unsure of how to measure ROI, talk to event professionals who are already incorporating ROI measurements into their planning.
Another suggestion would be to hire a company that can help you design the right measurement tools based on your objectives and then assist in developing the right strategies to maximize results.
Here’s the bottom line – measurement is now a non-negotiable expectation.
And it’s not the job of the event sponsor or sales, marketing or procurement. It’s now an integral part of the planner’s job description, whether it’s written in there or not.
If you’re over 40, think of it the same way you first looked at the Internet: it might change something…or maybe everything.
And you know where the smart money is.