Since the recession, there is no doubt that return on investment (ROI) has been a top priority across the events industry. It’s an easy term to cast about, but do we actually know what it means and do we understand how the expression differs in meaning according to company, role and seniority.
ROI differs for each contributor to an event and with so many different interpretations and priorities, it can become something of a grey area; a lack of clarity arising from disconnect in the supply chain. In all honesty, how many of us ever ask about ROI at a planning/production meeting?
Measurements exist across the board to assess the relative success of an event, but are known to be incongruous, not maturing across the spectrum. For example, in many cases the figures/result planners share with a supplier are only from an operational perspective, an incomplete picture.
Over the coming weeks, we will be looking into the different interpretations of ROI, from corporate planners and caterers to suppliers and spaces, asking the pertinent questions to drill down into the essence of the issue.
We’ll focus on…
- The numbers
- The bottom line
- PR, marketing and communications
- Outcome vs. risk
- Collaboration
- Quality
- Delivery
Rest assured, we’ll leave no stone unturned, harnessing the expertise of our venues and a whole host of suppliers and partners, including Bubble Food, Speakers Corner and Event Concept.
To kick things off, we’d like to throw the question in point to you: ‘What does ROI mean to you?’