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What is event ROI?
Event ROI (return on investment) is the total positive value that a company or event committee gets from hosting an event minus the cost of the event. But event ROI is notoriously difficult to measure. Although it includes revenue from the event, it could also include things like positive earned media, word of mouth advertising for your brand, future sales or upsells, the value to your customer or member engagement, and more.
For this reason, when setting your event budget, whether a live or virtual event, it’s important to think about ROI as more than just ticket sales. Consider the impact it can have on other parts of your organization’s budget. For example, it may decrease your cost of customer acquisition or decrease advertising costs if you get media attention.
While it’s almost impossible to truly know your event ROI until it’s over, considering these factors in the planning stage can help you incorporate an event into your overall advertising, marketing, or member engagement strategy.
Now Read: Everything You Need to Know About Hosting a Virtual Event
