Chromis Event Strategies celebrated its 6th anniversary in August. As I look back, I take stock of the many changes that have taken place in the events industry, many of which have been technology driven. However, one thing remains as critical as ever: the need for organizations to assess return on objectives.
Is this event relevant and in line with our objectives?
For any non-profit organization or corporation, hosting an event is a business strategy. It is critical to understand—and measure—the role of an event in the organization’s overall business goals, whether they be community outreach, stakeholder engagement, fundraising, media, marketing, advocacy, education, or all of the above.
This is achieved by creating a strategic plan for an event that includes defined objectives, tools for measurement and, post-event, an accurate evaluation of the return on objectives, based on strategic and measurable outcomes.
To successfully practice ROO, focus on three specific areas: fit, format and follow-up:
- Fit: Before any creative or logistical decisions are made, ensure that the objectives fit with the organization’s branding, culture, mission, and business objectives. Carry these objectives throughout all phases of event planning: the needs assessment, scope of work, research and budgeting, event marketing and execution.
- Format: Match the format of the event to its objectives, not the other way around! ROO must be the determining factor for the selection of event components, format, and venue.
- Follow-up: Follow up with all stakeholders to ensure that the best and worst aspects are evaluated for potential use in future events. Post-event analysis creates direction and touch points for repeatable success, all while keeping the investment dynamic
Trends will come and go, but a thoughtful event strategy is always a must.
Best wishes for a successful event season,
Michelle Rathbun, President