These days all budgets are continually under pressure and the need to prove an event’s value to a company has never been greater.

The Phillips RoI (return on investment) model is one surefire way to measure the RoI on any type of event, from sales conferences and teambuilding events to product launches. The degree to which one can evaluate the event is flexible, with different levels available to suit and satisfy an individual stakeholder’s requirements.

It works by breaking down the RoI of an event into five different levels: learning, business impact, satisfaction and implementation. The final RoI is the net commercial benefit to the organisation, less the cost of the event, divided by the cost of the event and multiplied by 100 to give the RoI percentage.

This model works particularly well when the objectives for the event can be set out according to each of the five parameters. This requires some effort and time, but immediately promotes the concept of running events to obtain returns from the outset. 

It is also invaluable for an event management company when creating a programme and planning an event. It means every facet of the event is working towards achieving a very detailed set of objectives. This in itself will bring about a more effective result.

The feedback received from levels one to three should not be underestimated, for this data could be enough to convince many stakeholders of the event’s value.

Finally, events should have minimal environmental impact and also give something back to the local community. The former can be measured easily and the latter, if done correctly, can have a profound and immeasurable
effect on your delegates. 

Rebecca Lim is general manager – Asia of WorldEvents, www.worldevents.com