Thinking about return on investment when it comes to event planning can send even the savviest of event profs into a headspin. But it’s not as scary as it sounds.
Return on investment simply refers to the value you’ve gotten out of your event vs the money (and time) you put into it.
One of the main concepts to get your head around when thinking about ROI is that there are different types of value to consider outside of profit alone. Like the acquisition of new leads, new partnerships and new social media followers. Increased brand awareness, or increased awareness of a charitable cause are also other good examples of some of the non-monetary wins to be gained from events. (Some of these things will, of course, lead to monetary gains later down the line, but we’re talking about gains that aren’t a direct profit here).Read More