Return on Investment in Meetings and Events

Return on Investment in Meetings and Events

by M. Theresa Breining, Jack J. Phillips
Released January 2008
Publisher(s): Routledge
ISBN: 9781136368394

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Book description

The Phillips ROI Methodology™ 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).

Table of contents

  1. Cover
  2. Halftitle
  3. Title
  4. Copyright
  5. Contents
  6. Preface
  7. Acknowledgments
  8. Foreword
  9. 1. The Need for the ROI Methodology in the Meetings and Events Industry
    1. Industry Efforts for Meeting Professionals International
    2. The Debate About ROI
    3. ROI Issues
    4. Final Thoughts
    5. References
  10. 2. The ROI Methodology: A Brief Overview
    1. A Paradigm Shift
    2. Key Steps and Issues
    3. The ROI Process Model
    4. Operating Standards
    5. Implementation Issues
  11. 3. The Alignment: Defining Needs and Objectives
    1. The Meeting Planner’s Role in Alignment
    2. The First Alignment Opportunity: Needs Analysis
    3. Payoff Needs
    4. Business Needs
    5. Performance Needs
    6. Learning Needs
    7. Preference Needs
    8. Input Needs
    9. Developing Objectives for Meetings and Events
    10. Case Study
    11. How to Make the Transition
    12. Final Thoughts
    13. References
  12. 4. Measuring Inputs and Indicators
    1. The Importance of Measuring Inputs and Indicators
    2. Input Categories
    3. Key Issues
    4. Final Thoughts
    5. References
  13. 5. Measuring Reaction and Perceived Value
    1. Importance of Measuring Reaction and Perceived Value
    2. Data Collection Issues
    3. Questionnaires and Surveys
    4. Interviews and Focus Groups
    5. Improving Reaction Evaluation
    6. Using Data
    7. Final Thoughts
    8. References
  14. 6. Measuring Learning and Confidence
    1. The Importance of Measuring Learning
    2. Measurement Issues
    3. Data Collection Methods
    4. Administrative Issues
    5. Using Learning Data
    6. Final Thoughts
    7. References
  15. 7. Measuring Application and Implementation
    1. The Importance of Measuring Application
    2. Challenges of Measuring Application and Implementation
    3. Fundamental Issues
    4. Data Collection with Questionnaires and Surveys
    5. Data Collection with Interviews
    6. Data Collection with Focus Groups
    7. On-the-Job Observation
    8. The Use of Action Plans and Follow-up Assignments
    9. The Use of Performance Contracts
    10. Barriers to Success
    11. Data Use
    12. Final Thoughts
  16. 8. Measuring and Isolating the Impact of Meetings and Events
    1. Importance of Measuring Business Impact
    2. Types of Impact Measures
    3. Specific Measures Linked to Meetings
    4. Business Performance Data Monitoring
    5. The Use of Action Plans to Measure Business Impact Data
    6. The Use of Performance Contracts to Measure Business Impact
    7. The Use of Questionnaires to Collect Business Data
    8. Isolate the Effects of the Meeting
    9. Use of Control Groups
    10. Use of Trend Line Analysis
    11. Using Estimates
    12. Questionnaire or Interview Approach
    13. Focus Group Approach
    14. Estimates from Others
    15. Final Thoughts
    16. References
  17. 9. Monetary Benefits, Costs, and ROI
    1. The Importance of Monetary Benefits and ROI
    2. Key Steps to Convert Data to Monetary Values
    3. Standard Monetary Values
    4. Data Conversion When Standard Values are not Available
    5. Selecting the Conversion Method
    6. Monitoring Meeting Costs
    7. Major Cost Categories
    8. Cost Accumulation and Estimation
    9. Calculating the ROI
    10. Final Thoughts
    11. References
  18. 10. Intangible Benefits
    1. Why Intangible Benefits are Important
    2. Measuring the Intangible Benefits
    3. Converting to Money
    4. Identifying Intangible Benefits
    5. Analyzing Intangible Benefits
    6. Customer Service and Branding
    7. Teamwork
    8. Innovation and Creativity
    9. Employee Attitudes
    10. Leadership
    11. Networking
    12. Final Thoughts
    13. References
  19. 11. Reporting Results
    1. Why the Concern About Communicating Results?
    2. Key Principles of Communicating Results
    3. The Reasons for Communication
    4. Planning the Communications
    5. The Audience for Communications
    6. Content Development
    7. Communication Media Selection
    8. Presenting Information
    9. Reactions to Communication
    10. Using Evaluation Data
    11. Final Thoughts
    12. References
  20. 12. Implementing and Sustaining the Evaluation System
    1. Why the Concern?
    2. Implementing the Process: Overcoming Resistance
    3. Assessing the Climate for Measurement
    4. Developing Roles and Responsibilities
    5. Establishing Goals and Plans
    6. Revising or Developing Policies and Guidelines
    7. Preparing the Team
    8. Initiating Evaluation Studies
    9. Preparing the Clients and Management Team
    10. Removing Obstacles
    11. Monitoring Progress
    12. Final Thoughts
    13. References
  21. Appendix. How Results-Based Are Your Meetings and Events? Survey for Executives, Clients, and Managers
  22. Index

Product information

  • Title: Return on Investment in Meetings and Events
  • Author(s): M. Theresa Breining, Jack J. Phillips
  • Release date: January 2008
  • Publisher(s): Routledge
  • ISBN: 9781136368394