Reporting the intangible moments that added to an event's magic can feel daunting. What's the best way to showcase impact to stakeholders who missed the electric buzz, participant excitement, and quality connections? Enter ROI and ROE: Your dynamic duo for capturing event milestones.
ROI (Return on Investment) measures the financial effectiveness of an event relative to the investment made in planning, organizing, and executing the event.
ROE (Return on Experience) quantifies the event's effectiveness in delivering value and impact to stakeholders beyond financial returns.
Together, these insights:
• Demonstrate your event's financial success to stakeholders and sponsors, along with the value it brought to your organization.
• Reveal what worked and what to improve upon at future events.
• Help drive attendee satisfaction—the most important KPI for whether an event was successful, according to the latest Encore Planner Pulse.
Power Your ROI & ROE During Planning
Asking the right questions during event planning can help you identify opportunities to increase returns.Essential questions:
• What are my event's key objectives?
• Who is the target audience?
• What is my budget?
• What are my event KPIs?
Your answers will guide you in defining what success looks like and whom your program needs to resonate with. Let's dive into best practices for crafting an experience that brings these aspects to life.
Winning Strategies to Maximize ROI & ROE
Whether orchestrating corporate conferences, small meetings, or immersive galas, ROI- and ROE-boosting strategies set the stage for transformative experiences and tangible returns. Here are two key ways to drive impact.Leverage Data Analytics to Boost ROI
One critical item behind event successes? The bottom line. Stakeholders expect planners to share the total amount of revenue generated, which budget items were effective, and where to make the biggest impact with spend in the future.
To confidently address these questions, you'll need reliable, easy-to-understand insights. Luckily, you can track this information and more with an event app, like Chime Liveâ„ . The app visualizes participant engagement and event results with a live analytics dashboard and report.
Use it to impress stakeholders with ROI insights that reveal:
• Which sessions/activities resonate most with attendees
• Which high-engagement areas to allocate resources to
• Registration trends and audience preferences that can be leveraged to increase attendance
Transform ROE With the Power of Engagement
Participant engagement is another top priority for organizers, as it influences attendee satisfaction and overall event success. Yet with today's shorter attention spans and higher expectations for in-person events, experiences need to fuel excitement and interaction to enhance ROE.
A best practice to try? Encourage participation and foster discussions through live polling and Q&A sessions. Another strategy your peers are embracing? Multisensory elements that make the experience immersive—85% of planners believe that immersive experiences foster greater attendee engagement, according to Encore research.
These are just a few ways you can ensure your event becomes a catalyst for long-term success. Interested in learning more pro tips to supercharge event ROI and ROE, and deliver unforgettable experiences?
