Measuring Success

In this section, we will address how success is defined and measured, and who measures success. The focus of this section is to evaluate your meeting’s success from a profitability standpoint, and how virtual conferences can impact your bottom line in a positive way. You’ll receive a template for evaluating virtual platforms to understand the complex expenses associated with virtual conferences.

One of the challenges we are facing right now is understanding the complexities of creating a budget for a virtual conference. Virtual conferences introduce a whole new set of revenue opportunities and expenses that differ from what we have used for a live event. It is important that when you talk about ROI, ROE and ROO that you bring your stakeholders along for the journey to evaluate platforms and functionally of the virtual platforms. There are many factors to be considered for the virtual conference experience to be a success.

What is success? Success can be defined as achieving your organizational goals. Successes are measured differently for individual stakeholders within your organization. Event success vary per stakeholder, but each needs to be considered when evaluating the virtual platform. How will the platform best meet the goals of each stakeholder within the organization?

Who measures success? Individual stakeholders within an organization measure successes. Each stakeholder may have different goals to best meet their needs, which lead to different ways of measuring success.

How is success measured? Some common ways we measure success is through return on investment (ROI), return on engagement (ROE) and return on objectives (ROO).