Measuring Meetings ROI

“The Holy Grail”
“Is it justified?” “What do we get in return?”
“Are you convinced it’s worth it?” “Wouldn’t it be more appropriate to spend the money in some other way?”

These frequently occurring questions will be immediately familiar to all those who regularly have to ask for, justify and account for budgets and sponsorship expenditure etc.

A means of calculating return on investment (ROI) - sometimes expressed as return on objectives (ROO) is often called for. With advances in the practical methodology of ROI calculation over the last 20 years, the ability to clearly recognise and interpret the financial yield or advisability of participation in specific events is becoming more realisable - good news for those with increasingly restricted financial resource capability!

In order to decide on amount of budget to be allocated, obtain approvals for requested sponsorship contributions, evaluate meeting effectiveness, compare meetings with other (competing) events, decide on priorities when faced with increasing requests and even “mushrooming” congresses, as a means of demonstrating value and competence, securing competitive advantage and improving the attractiveness of events and meetings, the concept of ROI calculation is attractive to all meeting stakeholders – sponsors, organisers, delegates, and host societies.

There is tremendous interest among IPCAA members and others, to acquire and implement the skills and knowledge to use the systems and methods now available for achieving this long desired goal. IPCAA is actively working to provide further information on relevant aspects of ROI, to provide education and training programmes for its members and contribute to promotion of the overall concept of Meetings ROI – something which can only be in the interest of all parties concerned with the organisation of medical events.