The Professional Convention Management Association has added a return on investment component to MeetingMetrics, the meeting measurement application it introduced exclusively to members at the 2007 annual meeting last January.
MeetingMetrics, developed by New York-based GuideStar Research, allows users to conduct pre- and post-event surveys online to determine the attitudes, perceptions, and knowledge of attendees, and whether the meeting met its strategic goals. It was offered exclusively to PCMA members through September 2007, but now is available to anyone.
PCMA and the MeetingMetrics developers have added an onlineapplication that allows users to determine the financial impact of their meeting as well as the value for individual attendees. In assessing event ROI, meeting professionals gain information to rationalize their meeting investments and demonstrate achievement of financial objectives, PCMA officials say. By assessing ROI at the participant level, they gain information to help promote and justify attendance at future events.
The ROI component is endorsed by the ROI Institute and adheres to the meeting measurement methods developed by the Birmingham, Ala.-based ROI Institute.