Internal corporate events are an important part of an events program. Whether it’s a sales kickoff, an executive summit or a board meeting, hosting these events can require a significant amount of time and budget. But what does that investment amount to, and how do you justify spending money on event platforms to bring employees together? Many companies have recently begun to more directly measure and attribute ROI of their internal events. Here are some areas to evaluate:
Employee Advocacy
Employee advocacy is essential for business growth, and there’s no better way to showcase new products and educate revenue teams on upcoming offerings and news than an event. The easiest way to attribute ROI to an event is by running comparisons. For example, companies might simply compare sales before the event to sales after the event.
The assets developed for an event to enable sales reps can also be used in employee advocacy. Work with the marketing team to track how these assets are being distributed, how many views they are receiving, and the conversion rates associated with them. Examples of content that might be generated include sales sheets, slide decks, and social media posts. Each employee has a unique social network with potential buyers. Use gamification to further encourage employees to share content generated for the event.
Improved Performance
Tracking employee performance based on event attendance is another effective way to attribute ROI and justify spending money on future in-person corporate events. Events are often the primary channel through which employees receive training and certification, so comparing the performance of those who attended training versus those who did not will help you demonstrate event ROI.
For accurate tracking, Investing in a single platform to track attendance across multiple events can help you monitor employees’ progress over time. Event platforms also often allow you to host recorded content online so that employees who missed your event can still participate, and those interested in reviewing the information can do so.
Greater Retention
In addition to driving sales, effective internal corporate events can help decrease turnover. By comparing those who attended your corporate events with those who didn’t, you can identify potential positive impacts on retention.
To increase the impact, companies often host awards ceremonies at events to celebrate high performers and employees celebrating tenure milestones. These ceremonies create a sense of belonging that encourages employees to remain loyal to your company, reducing the costs associated with finding and hiring new employees
Whether you are helping educate your employees to be better advocates of your products, improving sales performance, or boosting retention, in-person corporate events can help you meet your goals. Furthermore, having an all-in-one platform like RainFocus can help you drive employee engagement and demonstrate event ROI. Learn more about how our platform powers corporate events for many of the world’s most innovative companies.
