Pictured: Todd Hanson, Founder and President of Catalyst Performance Group, Inc., and founder of the ROI of Engagement Resource Center.
Hybrid events, which combine a physical event with a digital extension, have been getting a lot of play lately in the meetings and events space. According to Todd Hanson, Founder of the Catalyst Performance Group, measuring the Return On Investment (ROI) of your hybrid event isn’t much different than measuring the ROI of your face-to-face event. After all, we’re “trying to communicate with people,” says Hanson, and digital technologies aid in effective measurement of those people-to-people interactions.
To consider ROI for your event, Hanson urges us to ask the question, “what does success look like? What outcome is desired?” Once you identify answers to those questions, Hanson notes, then measurement starts to become quite easy.
When measuring ROI for his clients, Hanson uses The ROI Methodology™, which is “used in thousands of cases each year in more than 50 countries.” You can learn more about the methodology here:
Hanson notes that while ROI measurement is important, it’s equally important to isolate the effect of the ROI from your hybrid event. For instance, if product sales increased 25%, was that increased generated solely from your hybrid event, or were there other factors that contributed to the gain?
In addition, ROI measures should be studied, then applied to all future events. Says Hanson, “create an action plan from the results of your measurement that will fuel continuous improvement.”
Video: How to Measure Hybrid Event ROI
View the video below to learn more about hybrid event ROI measurement from Todd:
Join Todd for a Thought Leaders LIVE webcast on March 13, 2012. Todd’s webcast is titled “Online Event ROI: If You Don’t Measure It, You Don’t Get It!”. Register here:
Post contributed by Dennis Shiao