MEASURING ROI --- AN OVERVIEW

The approaches for measuring ROI for incentive programs and meetings are both varied and as different as night and day. Some are basic (perhaps too much so) and others complex. Yet, each has merit and some are more applicable in one situation than another. What follows is a brief overview of some of these approaches. First, a disclaimer: this is not an instruction guide for measuring ROI --- it is merely a synopsis of different approaches.

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THE CASE FOR MEASURING ROI

In recent years measuring the return on investment from incentive programs and meetings has been a hot topic in our industry. Since ROI measurement proves the value of program expenditures to Procurement, Sales/Marketing and Corporate management it makes it easier for suppliers to re-qualify for future programs. It is ultimately the best way to create a successful relationship.

There is greater emphasis on measuring the return on investment in today’s market. Some planners are required to justify value. Others simply understand that it is a wise business and career decision. Incentive suppliers say that Requests for Proposals increasingly ask for information relating to measuring program results.

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THE RULES OF ENGAGEMENT: Managing a Productive Workforce in Times of Apathy

During more than one educational session at the SITE International Conference in Toronto, presenters focused on the harsh reality that employees today are overwhelmingly DISENGAGED. Just the sound of the word --- disengaged --- sends a message of negativity and demoralization.

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IMEX INJECTS FRESH COLOR WITH NEW INDUSTRY AWARDS

Leading meetings, incentive travel, and events industry exhibition, IMEX and industry partners, the Green Meeting Industry Council has announced both a new name and a new format for their joint annual industry awards.

The previously-named Environmentally Responsible Meeting Awards will become the Green Meeting Awards, while Programmes of Purpose is now called the Commitment to the Community Award. The change follows a gradual shift in global attitudes towards environmental protection.

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KEY REGISTRATION UP AT 2005 MOTIVATION SHOW

New ideas, education, networking and the opportunity to do a “hands-on” comparison of products and services are the major reasons mentioned by attendees for the success of The 2005 Motivation Show held recently in Chicago’s McCormick Place.

Total verified buyer attendance was 9,096 with key registration categories up over the prior year. Those categories are end buyers, incentive companies, and advertising/sales promotion agencies.

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fourCE.org develops strategies for companies to reap maximum benefits from incentive marketing programs. We work with both users and suppliers of incentive programs to enhance their success through implementation of customized management and marketing solutions.

MUSINGS

Because we at fourCE.org have broken a cardinal rule of e-newsletters by including a long article in this issue, I’m keeping my Musings especially brief.

Most of this newsletter is devoted to measuring return on investment (ROI) --- not as a "how to" but rather as an overview of the varied approaches. It has been a key subject at most recent industry conferences and it’s a topic that I have championed for a long time. Apparently, ROI measurement is practiced in Western Europe, Latin America, and Australia/New Zealand to a much greater degree than in the US.

I hope this issue will spark an interest in measuring the results of your programs. Once we prove the value of programs incentive marketing will be a recognized, integral ingredient in corporate business strategy.

Bob Vitagliano, CITE