Saturday, May 9, 2009

Return On Investment - Convention/Incentive/Event

Your ROI = Accomplishment Of Your Goals

“There is real magic in enthusiasm. It spells the difference between mediocrity and accomplishment.” -Norman Vincent Peale

RETURN ON YOUR INVESTMENT  -  One of the most important elements of any business project, product, or decision is the return on investment; how much earned when compared with how much invested. Working closely with you, Cre8ive Network (C8N) will ensure your investments of time, money, and other resources into a program are maximized, providing your participants with the best possible experience while remaining within the agreed budgetary parameters.

By leveraging C8N’s knowledge, skills, and abilities in the planning and operational phases of an event the client will realize significant savings, decreasing the expense of the event. This savings will exceed any fees related to the C8N engagement, thus collaborating with C8N opens access to subject matter expertise while providing value that simply could not be realized otherwise.

The wealth of C8N experience and industry insight related to visualizing, pre-planning, developing theme & objectives/incentives/ A/V / staging/set-design/meetings content/exhibits/experiential learning/entertainment/ transportation, logistical support, event operations, set-up/strike, and fiscal reconciliation is all part of our value-added, holistic approach.

In addition to the direct fiscal savings C8N provides, there are indirect savings as well, by decreasing the time & effort required by your organization to plan and conduct your convention/incentive/event. Thus your people remain focused on conducting core business operations and not wasting time in areas where they may not have well developed knowledge, skills, and abilities e.g. convention/incentive/event planning & operations.

If you do have an internal team of professionals we're great at integrating resources for seamless execution.

Cre8ive Network has extremely low overhead and seeks to engage all value producing resources for your incentive/convention/event.

Return On Investment is the Holy Grail of Conventions/Incentives/Events, but the question has always been how to effectively track and measure it, compile the evaluation in a form that you can appreciate, and use to improve your next meeting.

Today, the ongoing technological revolution is developing better automated tools that give us a better grasp than ever on your meetings ROI.

We like to look at five levels of measurement:

•One—measuring reaction to a meeting, including "enjoyment;"
•Two—tracking the learning that attendees actually take away from the meeting;
•Three—detailing attendee actions that took place as a result of the meeting;
•Four—gauging subsequent impact of the meeting, such as greater productivity or sales, or reduced errors; and
•Five—arriving at an actual return on investment garnered via the previous four levels.

There's also a sixth level, if you will, which is the impact that can't be converted to money. This could include better branding, cooperation, teamwork, and a variety of intangibles. Every meeting has intangibles.

While results might be attached to specific meetings in theory, it's not easy in practice, which is why sometimes clients don’t want to be bothered with measuring at all and sometimes we just talk about ROO - Return on Objectives or ROE - Return On Event.
These terms are code for, 'I can't possibly put numbers on this. But you could say you met 20 new customers who might buy your product, or educated 300 physicians on how to effectively administer a particular drug, etc…

Most important to us is that your objectives are met and you receive value for your investment of time and money.

We know this is what’s necessary to earn the right to collaborate on your next event, developing a long term partnership that gets progressively better over time, benefitting everyone.

The best use of our experience & expertise is producing all aspects of your production right here in Las Vegas, the convention & entertainment capital of the world.

Cre8ive Network could be your Las Vegas Resource Partner