Toolkit addresses industry need for increased focus on financial event success metrics

Cvent, Inc., the market leader in meetings, events and travel technology, announced the launch of a proprietary model event planners and marketers can use to understand and demonstrate the revenue impact events have on their organizations. Capitalizing on its deep expertise and experience in event management, the new offerings highlight the importance of calculating ROI in an industry that has traditionally focused more on stakeholder satisfaction and other qualitative metrics. The event return on investment (ROI) measurement model, toolkit, and workshops were unveiled this week at the company’s annual user conference, Cvent CONNECT.

Recent research from a collaboration between Cvent and Hanover Research shows that fewer than 20 percent of planners measure event success based on financial metrics. In today’s data-driven environment, it is critical for event planners and marketers to present detailed, multi-faceted ROI metrics to their organizational stakeholders and c-suite.

“In financial circles, both the concept and application of return on investment is well-established - not so when it comes to meetings and events,” said Brad Gillespie, Vice President of Enterprise and Corporate Marketing at Cvent. “Today, the metrics used to measure the effectiveness of events are broad in both scope and variety; and there is a need in the industry for a standard, agreed upon methodology for calculating the ROI of events. That’s why we’ve launched these offerings. We are addressing a key need in the event industry by helping the modern event planner and marketer close the gap and helping them prove that events are an essential part of an organization’s marketing mix.”

Cvent clients are already finding success in utilizing their event ROI metrics and methodology:

“On PwC’s mission to drive more value from our meetings and events, Cvent has enabled us to capture valuable attendee data and share that information with our key marketing technologies,” said Kevin Borwick, Marketing Operations Manager at PwC. “This seamless data collection and exchange has given us robust analytics to now see the true revenue impact and ROI of our events.”

Beginning in August, Cvent will offer ROI workshops and a full suite of ROI tools for event planners and marketers. These workshops, offered both in-person and online, will provide in-depth instruction and guidance on how to develop and execute an event ROI plan tailored to the specific business requirements of the planner’s organization.

To learn more about Cvent’s new event ROI offerings, please contact your Cvent representative.