Here’s an event scenario:
Would you consider this be a successful event?
The answer is…. Maybe.
I use the term ROM, Return on your Moment, to answer this question. In business, ROI is Queen. We spend money, spend time or spend resources with the question “Will this pay off?” always on our mind. Sometimes there is a metric (cost per impression, projected revenue per expenditure) but often times it is a gut feeling; not very scientific or data-driven, but effective none the less. ROM falls into this category. By setting SMART (Specific, Measurable, Achievable, Realistic & Timely) goals for an event, you can determine your event’s success. The idea is that with proper strategy, goal-setting and execution, a business or educational entity can measure the effectiveness of events against those goals. It’s really that simple.
So, looking at our scenario above, the ROM would be high if:
Bet this wasn’t what you were thinking when you read the initial scenario, was it? That’s why a Fresh Perspective is so important in your event strategy.