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Coronavirus Dialogue Series: Protecting Your Meetings and Events Budget in Difficult Times - Seven Actions to Take Now

‐ Jun 3, 2020 10:00am

Credits: None available.

1 Clock Hour | Domain D: Financial Management

As a result of the COVID-19 crisis, many executives, including JP Morgan CEO, Jamie Dimon, and the Congressional Budget Office (CBO), predict the global economy will be in a recession for the rest of 2020 and perhaps even into 2021. Consequently, many organizational leaders will conduct top-to-bottom reviews of programs in an attempt to cut budgets and save money. Are you prepared to show how your major meetings and events drive business value in this new post-pandemic world? Implementing or using some of the concepts of the ROI Methodology now can safeguard your budgets during and after this time of uncertainty.

Will your meeting and events (M&E) budgets survive? Organizational leaders must perceive M&E as an investment and not a cost. If leaders see M&E as a cost, they will control it, reduce it, or perhaps even eliminate it. This results in weak partnerships, diminished influence, decreased support, and reduced funding. If meetings and events are seen as an investment, leaders may maintain it, enhance it, and maybe even protect it. In addition, perceiving M&E as an investment also helps build business partnerships, improve client relationships, and increase funding. What is the best way to convince executives that M&E is an investment? The answer is simple. Measure the return on investment of a major M&E program using a standard ROI calculation.

This webinar focuses on seven actions you can take now to protect your M&E budget:

1. Measure the impact and perhaps ROI of a major meeting or event now.
2. Ensure that the virtual format is effective.
3. Update your measurement and evaluation strategy.
4. Design future meetings and events to deliver results.
5. Capture more executive-friendly reaction measures.
6. Be prepared to forecast the impact and ROI of a major initiative.
7. Share the joy of delivering and measuring business results.

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  • 1.00 - Contact Hours

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