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The ROI, that is Return On Investment, is nothing more than the return on investment or, in our case, an indicator that serves to compare the revenue of an event with the expenses incurred to organize it.
Before working on this metric, we need to have a clear idea of the context in which we are operating. In fact, although events are making a comeback, they have evolved and it would be a mistake not to take into account the latest changes that have affected the sector.
Most of the demand focuses on hybrid events, i.e. initiatives capable of combining physical and digital elements through technology, which allow for the collection and analysis of huge amounts of data.
Leverage technology to increase ROI
We have already said that technology has also arrived in events: visitors demand it and organizers must meet their requests for their work to be successful. Therefore, there is nothing left to do: start using software and systems that implement your event right away.
One solution is to make available, for example, a platform that allows speeches, presentations and other hybrid initiatives to be followed, making materials and recordings usable even once they are finished or on-demand. In this way, participants will be able to fully enjoy your event without giving up anything and accessing the contents at any time and from anywhere.
But innovation brings with it a whole host of benefits.
1. More engagement, more return on investment
In the event that the chosen platform makes use of systems of Artificial intelligence and Machine Learning, it will be possible to propose personalized contents. This leads to an increase in the level of engagement of attendees bringing more visitors to the event, both in physical and digital form. Consequently, it allows organizers to obtain a participation rate higher.
By reaching a wider audience it will also be possible to increase the levels of efficiency and effectiveness of your event, elements that positively influence the ROI.
2 Networking
The platforms for events allow to carry out networking activities in an agile and fast way among all the participants. In fact, it will be sufficient to access the dedicated section to view the profiles of other users and get in touch with those relevant to us through various options. For example chat, requests for appointments or the exchange of the virtual business card.
In this way it will be possible to put both offline and online participants in contact with each other without too much difficulty.
The more participants, the greater the involvement and therefore also the return on investment related to the event will increase.
3. Fluid experience
Broadcasting a speech live for a digital audience, while this is taking place in a physical room in front of a real audience will be easier thanks to the platform. Furthermore, participants have the opportunity to follow the events in the way that is most convenient for them: streaming or on demand.
The platform providers offer assistance in the event that any problems arise during the broadcast and in some cases even the possibility of carrying out pre-event tests in order to make sure that everything is working correctly. This will create a fluid and unified experience, useful for improving the final user experience.
Conclusions
We have understood that, in many cases, the introduction of a digital platform where hosting your event contributes to achieving a greater return on investment. Depending on whether the event is hybrid or digital, the adoption of modern technologies brings with it a series of advantages that help to implement the user experience and the satisfaction of him. These two elements directly and positively influence the proceeds of the event, from which a greater return on the investments made will automatically be achieved.
