Did ROI Kill Events for 2024?

There’s only one reason to host an event: "To Change Behavior.” When customers, clients, and donors decide to spend their hard-earned dollars with your organization, they change their behavior. Moving from “not spending” to “spending” is a change many see as the most important “return.” Return on Investment (ROI) is measured in dollars for this group. The generally accepted formula for ROI is;  

ROI = (Event Revenue – Event Costs) x 100 

Anticipating a positive ROI leads organizations to define success as “events that raise more revenue than the costs to design, develop, and deliver them.” Organizations realizing negative ROI for their 2023 events are most likely reconsidering their 2024 plans.  

I’m thrilled to be part of the World Experience Organization’s efforts to research the impact of ROI on events and learning experiences and build new models to support clients. I can’t disagree that positive ROI on events makes business sense. But our world is constantly evolving and increasing the complexity of changing behaviors. Moving someone from “not-customer” to “customer” or “not donor” to “donor” involves a systemic approach to engagement that dwarfs processes of the past.  Today, longer-term efforts to build strong communities, provide valuable resources, host free experiences, unite with essential causes, and build super-fans with word-of-mouth influencer powers are the norm. This is why 2024 and beyond will become a world of measuring ROE (Return on Experience).  

Stay tuned as the science of ROE evolves. I’ll keep you up to date as newsletter subscribers. In the meantime, MYNDDSET remains dedicated to ensuring your learning experience events meet your intentions. Our design processes clarify your aims and ensure your event develops accordingly. And our development capacity continues to increase, both in technology and expertise.