Evaluating Return on Investment Dr. Elling Hamso Managing Partner European Event ROI Institute.
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Transcript of Evaluating Return on Investment Dr. Elling Hamso Managing Partner European Event ROI Institute.
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Evaluating Return on Investment
Dr. Elling HamsoManaging Partner
European Event ROI Institute
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St James Room(next to Fairmont Empress breakfast room)
Monday 17:15 – 18:15
Tuesday 08:00 – 09:0010:15 – 10:45 (coffee break)15:00 – 18:00
Wednesday0800 – 1300
ROI Surgery
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• Refined over a 20-year period
• Thousands of ROI studies conducted every year
• 100 case studies published
• 3 000 individuals certified
• 50 books written to support the model
• Adopted by hundreds of organizations in more than 40 countries
The Phillips ROI Methodology
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AT&T Coca Cola General Motors Hewlett Packard Hilton Hotels Motorola PricewaterhouseCoopers Shell Oil Singapore Airlines
US Department of Defense NASA Government of Italy Government Canada
Some Users of the Methodology
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• Management Training
• Sales Training
• Team Building
• E-Learning
• Coaching
• Executive Training
• Customer Binding
• Meetings and Events
• Organization Development
• Recruiting Strategies
• Safety & Health Programs
• Self-Directed Teams
• Compensation Strategies
• Technology Implementation
• Quality Six Sigma
• Wellness/Fitness Initiatives
Some Areas of Application
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A stakeholder is anyone who would say:
”It is important to me that this meeting is successful and meets my objectives”
Stakeholders
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To INFLUENCE* participants
to DO something which adds VALUE to stakeholders
at the lowest possible COST
* or educate, empower, inspire, persuade
The Purpose of Corporate Events
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To LEARN something
which enables me to DO something which provides VALUE to me or my company
The ROI of Conference Attendance
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Satisfaction & Planned Actions
Learning
Application
Business Impact
ROI
The Event ROI Pyramid
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How will you use what you learned?
NoProbably
NotMaybe
Probably Yes
DefinitelyAverage
Score
Discuss with my colleagues 0% 0% 0% 37.5% 62.5% 4.6
Review risk management procedures in my organisation
0% 0% 0% 50% 50% 4.5
Conduct formal risk assessments before major events
0% 0% 50% 37.5% 12.5% 3.6
Review how we check on suppliers’ safety procedures
0% 12.5% 12.5% 62.5 12.5 3.8
Meet with our insurance brokers to review current policies
12.5% 12.5% 62.5% 0% 12.5% 2.9
Other (specify below) 0% 0% 0% 0% 0% 0.0
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Do you know the basic principles of how to assess risk?0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
100%
Avg
BEFORE the seminar 0 2 0 4 2 2 4 0 0 0 0 40%
AFTER the seminar 0 0 0 0 0 0 0 4 2 2 6 87%
Do you feel comfortable with leading a risk assessment exercise for a major event?
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%100%
Avg
BEFORE the seminar 2 2 2 2 0 4 2 0 0 0 0 31%
AFTER the seminar 0 0 0 0 2 4 0 0 4 2 2 70%
Could you draw a matrix for classification fo different types of risk?0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
100%
Avg
BEFORE the seminar 6 2 2 2 2 0 0 0 0 0 0 14%
AFTER the seminar 0 0 0 0 2 4 0 2 2 0 4 70%
Could you list the four different risk management alternatives?0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
100%
Avg
BEFORE the seminar 8 2 0 2 0 2 0 0 0 0 0 13%
AFTER the seminar 0 0 0 0 0 2 6 2 0 0 4 71%
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• Control groups
• Forecasting methods
• Trend analysis
• Participants’ estimates
• Supervisors’ estimates
• Outside experts
The Solution:The Problem:
OtherInfluences
MeetingImpact
Tota
l m
easu
red
Im
pact
Isolating the effects of the meeting
© Copyright 2004 ROI Institute
Data Analysis
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Using control groups to isolate the effects of the meeting
© Copyright 2004 ROI Institute
Retail Merchandise Company – Interactive Selling Skills ProgrammeTwo groups of 3 stores matched on:•Store size•Store location (median houshold income in the area)•Customer traffic levels•Previous store perfomance
Weekly sales 3 months after training ($)
Trained group 12,075Control group 10,449Increase due to training 1,626
(ROI was in this case calculated to be 118%)
Data Analysis
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Elements influencing sales increase:
Sales training seminarAdvertizing campaignIncentive programmeProduct improvementsOther factorsTotal
Participants’ estimates of factors influencing sales increase following training seminar
Confidence of estimate
Adjusted influence factor
65% (i.e. 6 – 13%) 6%
Influence factor
9%16%
7%49%19%
100%
Data Analysis
ROI estimated to be120% (manufacturer) 320% (UK import agent)
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ROI HandbookObjectives; issues; challenges
Session/speakers; contacts;ideas; sales leads; notes
Activities/follow-up
Results; successes; values/savings
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Some useful websites:www.eventroi.org European Event ROI Institutewww.roiinstitute.net ROI Institute, Inc.
Books:“Proving the Value of Meetings & Events” Jack J. Phillips, Monica Myhill and James B. McDonough, available from www.eventroi.org
”Measuring the Return on Investment in Meetings and Events” Jack J. Phillips and Terri Brining, available from www.amazon.com
“Return on Investment in Training and Performance Improvement Programs” Jack J. Phillips, available from major booksellers and www.amazon.com
”Show me the Money” Jack J. Phillips, available from major booksellers and www.amazon.com
Books and Resources
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5-Day Event ROI Certification Course with Jack Phillips
31 August – 4 September 2009, Brussels, Belgium
1-Day Event ROI CoursesLondon, Amsterdam, Brussels, Dublin, Frankfurt, Dusseldorf, Hamburg, Barcelona, Madrid, Milan, Turin, Copehagen, Stockholm, Helsinki, Warzawa, Tallin. Information and registration on www.eventroi.org
ROI Courses in Europe
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In-house Training Courses1 – 3 days staff trainingCustomer Training Courses1-day course with event agency and customersROI Impact StudiesEvaluate the ROI of your eventROI QuickscanReview and report on the potential improvements in ROI for your event
www.eventroi.org
ROI Training & Consulting Services
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Best Event Evaluation Awards
Spain, Italy, Belgium, Sweden
International AwardsEIBTM – Best Event Awards
EuBEA - European Best Event Award
Event Evaluation Awards
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Contact Details
European Event ROI Institute
Dr. Elling Hamso
Managing Partner
E-mail: [email protected]
Telephone: +47 90 12 24 18