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Return on Investment in Meetings & Events: tools and techniques to measure the success of all types of meetings and events
by Jack J. Phillips, M. Theresa Breining, Patricia Pulliam Phillips
Publisher: Butterworth-Heinemann (January 1, 2008)
"This new book addresses perhaps today's biggest opportunity for professional meeting planners: measuring performance and return on investment. It provides details, examples, tools, templates, and many techniques to help capitalize on this opportunity and truly elevate the conversation. It is organized in an easy-to-understand, step-by-step process. Jack, Terri, and Patti have done an excellent job in presenting a complex subject in simple terms. MPI is pleased to support this book as a continuing effort to make our members more successful business partners within their organizations."
Bruce M. MacMillan, President/CEO, Meeting Professionals International
"Although associations generally have an appreciation for the value of conferences and meetings, a tool that can prove the financial viability of meetings will greatly enhance their perceived value, for both the organization and its members. This book spells out in a clearly defined process, what and how to report a quantifiable return on investment for meetings. If put into practice, the ROI Methodology can help an organization identify which meetings are most valuable, which might need a tune-up, and which have outlived their usefulness. This information supports an association's goals of sustaining financial stability and growth, while serving the needs of its members. This book is a must-read for anyone responsible for the development and/or execution of meetings."
John H. Graham, CAE, President and CEO ASAE & The Center for Association Leadership
"This groundbreaking new book provides details, tools, templates, and many techniques to help capitalize on the opportunity to truly elevate the conversation of measuring the return on investment for meetings and events. It is organized in an easy-to-understand, step-by-step format and gives the reader authentic examples of proven ways in which the ROI Methodology has been used to provide substantial value to meetings and events across the globe. It shows how to calculate the ROI from all perspectives-participants, sponsors, exhibitors, and organizers. It is essential reading for every professional involved in meetings and events."
Deborah Sexton, President and CEO, PCMA and PCMA Education Foundation
The Phillips ROI MethodologyT utilizes five levels of evaluation, which are essential in determining the return on investment.
At Level 1 - Reaction and Planned Action, attendee and stakeholder satisfaction from the meeting can be measured. Almost all organizations evaluate at Level 1, usually with a generic, end-of-meeting questionnaire. While this level of evaluation is important as a "stakeholder" satisfaction measure, a favorable reaction does not ensure that attendees have acquired new skills, knowledge, opinions or attitudes from the meeting.
At Level 2 - Learning, measurements focus on what participants learned during the meeting using tests, skill practices, role-plays, simulations, group evaluations, and other assessment tools. A learning check is helpful to ensure that attendees have absorbed the meeting material or messages and know how to use or apply it properly. It is also important at this level to determine the quantity and quality of new professional contacts acquired and whether existing professional contacts were strengthened due to the meeting. However, a positive measure at this level is no guarantee that what was learned or whether the professional contacts acquired will be used on the job.
At Level 3 - Job Applications, a variety of follow-up methods can be used to determine if attendees applied on the job what they learned or acquired at the meeting. The frequency and use of skills are important measures at Level 3. While Level 3 evaluations are important to gauge the success of the meeting, it still does not guarantee that there will be a positive business impact in the organization or for the attendee.
At Level 4 - Business Results, the measurement focuses on the actual business results achieved by meeting participants as they successfully apply the meeting material or messages. Typical Level 4 measures include output, sales, quality, costs, time and customer satisfaction. Although the meeting may produce a measurable business impact, there is still a concern that the meeting may cost too much.
At Level 5 - Return on Investment, this ultimate level of measurement compares the monetary benefits from the meeting with the fully-loaded meeting costs as expressed in the ROI formula.
All levels of evaluation must be conducted in order to determine the ROI of a meeting or event. The data collected should show a chain of impact occurring through the levels as the skills and knowledge learned (Level 2) are applied on the job (Level 3) to produce business results (Level 4).
* Introduces and demonstrates Jack J. Phillips's well-established ROI measurement methodology
* Addresses the growing demands from stakeholders to prove the value of meetings through data
* Endorsed by MPI (Meeting Professionals International)