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41 Ways to Measure the Business Value of Meetings

41 metrics to measure the value of your meetings

In a recent study, 60% of trade show booth organizers said that “Closed Sales” is their #1 measure of success at their event.  Yet, there are many, many more ways that meetings add value beyond revenue generated. How are you measuring the business value that your meetings and events create for your organization?

In MPI’s Business Value of Meetings research, they identified 41 different metrics that can be used to help you measure and track the business value of your meetings. Take a look at the list below – you might be able to find a few new metrics for measuring your success:


Hard Data Measures:

These are measures that are data driven and easy to observe.

Output:

  1. Sales
  2. Productivity
  3. Shipments
  4. Applications processed
  5. New Accounts

Costs:

  1. Overhead
  2. Budgets
  3. Variance
  4. Fixed/Variable Costs

Time:

  1. On-Time
  2. Overtime
  3. Downtime
  4. Processing
  5. Efficiency
  6. Time to Completion

Quality:

  1. Waste
  2. Shortage
  3. Defects
  4. Compliance
  5. Product Failure


Soft Data Measures:

Soft data measures need to be surveyed and the results are not as always concrete as we would like or expect.

Work Climate:

  1. Satisfaction
  2. Engagement
  3. Stress
  4. Grievances

Innovation:

  1. Creativity
  2. Suggestions
  3. Patents
  4. Partnerships
  5. Alliances

Customer Service:

  1. Satisfaction
  2. Complaints
  3. Retention
  4. Loyalty

Employee Development:

  1. Promotions
  2. Appraisals
  3. Networking Capabilities

Image:

  1. Reputation
  2. Leadership
  3. Brand
  4. Social
  5. Responsibility

So you see, there are many more ways to measure the business value of a meeting beyond sales (which was still the first item on the list!).  Most likely, some of these are measurement metrics you had not previously considered — yet are metrics you now find viable.  Perhaps now you can demonstrate even greater value from your meetings than you thought!

If you’d like to see how you can create more engaging and interactive content using the wide variety of choices within our SocialPoint Audience Engagement System, feel free to contact us with questions or to discuss your event with one of SocialPoint’s Digital Strategists. We’ll help you generate greater attendee engagement at your events.

Written by

Samuel J. Smith is a thought leader, researcher, speaker and award winning innovator on event technology. In 2011, BizBash Magazine added Sam to its annual innovators list. Since then, Sam has won awards from IBTM World, RSVP MN, International Live Events Association and MPI for innovation in event technology.