Business Interests »Notices & events
New book discusses ROI for meetings and events by Terri Breining of Concepts Worldwide
Annette Gregg almost 2 years ago |

I am proud to announce the new book, Return on Investment in Meetings and Events by by Jack J. Phillips and Terri Breining, founder of Concepts Worldwide.

Return on Investment in Meetings and Events (paperback)

The new book, Return on Investment in Meetings and Events by Jack J. Phillips and Terri Breining illustrates and explains the Phillips ROI Methodology of utilizing the five levels of evaluation, which are essential in determining the return on investment.

• Introduces and demonstrates Jack J. Phillips’s well-established ROI measurement methodology
• Addresses the growing demands from stakeholders to prove the value of meetings through data
• Endorsed by MPI (Meeting Professionals International)

“Although associations generally have an appreciation for the value of conferences and meetings, a tool that can prove the financial viability of meetings will greatly enhance their perceived value, for both the organization and its members. This book spells out in a clearly defined process, what and how to report a quantifiable return on investment for meetings. If put into practice, the ROI Methodology can help an organization identify which meetings are most valuable, which might need a tune-up, and which have outlived their usefulness. This information supports an association’s goals of sustaining financial stability and growth, while serving the needs of its members. This book is a must-read for anyone responsible for the development and/or execution of meetings.” -John H. Graham, CAE, President and CEO ASAE & The Center for Association Leadership

“This groundbreaking new book provides details, tools, templates, and many techniques to help capitalize on the opportunity to truly elevate the conversation of measuring the return on investment for meetings and events. It is organized in an easy-to-understand, step-by-step format and gives the reader authentic examples of proven ways in which the ROI Methodology has been used to provide substantial value to meetings and events across the globe. It shows how to calculate the ROI from all perspectives participants, sponsors, exhibitors, and organizers. It is essential reading for every professional involved in meetings and events.” -Deborah Sexton, President and CEO, PCMA and PCMA Education Foundation

From the description at Amazon.com

The Phillips ROI Methodology utilizes five levels of evaluation, which are essential in determining the return on investment.

At Level 1 – Reaction and Planned Action, attendee and stakeholder satisfaction from the meeting can be measured. Almost all organizations evaluate at Level 1, usually with a generic, end-of-meeting questionnaire. While this level of evaluation is important as a stakeholder satisfaction measure, a favorable reaction does not ensure that attendees have acquired new skills, knowledge, opinions or attitudes from the meeting.

At Level 2 – Learning, measurements focus on what participants learned during the meeting using tests, skill practices, role-plays, simulations, group evaluations, and other assessment tools. A learning check is helpful to ensure that attendees have absorbed the meeting material or messages and know how to use or apply it properly. It is also important at this level to determine the quantity and quality of new professional contacts acquired and whether existing professional contacts were strengthened due to the meeting. However, a positive measure at this level is no guarantee that what was learned or whether the professional contacts acquired will be used on the job.

At Level 3 – Job Applications, a variety of follow-up methods can be used to determine if attendees applied on the job what they learned or acquired at the meeting. The frequency and use of skills are important measures at Level 3. While Level 3 evaluations are important to gauge the success of the meeting, it still does not guarantee that there will be a positive business impact in the organization or for the attendee.

At Level 4 – Business Results, the measurement focuses on the actual business results achieved by meeting participants as they successfully apply the meeting material or messages. Typical Level 4 measures include output, sales, quality, costs, time and customer satisfaction. Although the meeting may produce a measurable business impact, there is still a concern that the meeting may cost too much.

At Level 5 – Return on Investment, this ultimate level of measurement compares the monetary benefits from the meeting with the fully-loaded meeting costs as expressed in the ROI formula.

All levels of evaluation must be conducted in order to determine the ROI of a meeting or event. The data collected should show a chain of impact occurring through the levels as the skills and knowledge learned (Level 2) are applied on the job (Level 3) to produce business results (Level 4).

Learn more about Return on Investment in Meetings and Events and buy the book at Amazon.com

Concepts Worldwide www.conceptsworldwide.com is the recognized leader in strategic meeting management with a 20-year proven track record of planning thousands of successful meetings around the world. Innovation, experience and collaborative processes enable the company to function as an integral member of their client’s team, producing impactful events that deliver measurable results with the highest return on objectives—and investment. Services encompass strategic planning, contract negotiation, theme design, logistics management and program execution, as well as consulting services. A privately held company with headquarters in Carlsbad, California and an office in Memphis, Tennessee, Concepts Worldwide is one of only a handful of companies certified in Return on Investment Methodology from the ROI Institute, and has a prestigious Women’s Business Enterprise certification from the Women’s Business Enterprise National Council. Founder & CEO Terri Breining, CMP, CMM, voted one of the 25 most influential people in the meeting industry, served as past Chair of Meeting Professionals International (MPI) and currently chairs the APEX Commission, charged with establishing meeting and exposition industry standards.