Conference Value
Measuring the success of your next conference through the "Law of 100"

It is surprising that for the millions of dollars spent holding conferences every year, there is such little known about the value of return on that investment.

Many conference planners strive to deliver a conference with impact. This is why delegate surveys ask whether people liked the conference.

However a focus on this alone can distract from understanding the real value of your conference, which is best measured by the Law of 100.

The Law of 100 is a universal principle that can be applied to all meetings. It states;

“The goal of a good meeting is to create value that lasts greater than 100 times its duration.”

So if your conference is a 2 day meeting, that’s at least 200 days of value you want to create.

Conferences are a long-term investment, and real value is measured over a longer period.

Let’s look at how you can measure your Conference Value using the Law of 100 by applying it to both individual delegates and the host organisation.

Delegate Value

The Law of 100 can be applied to the most important people at your conference; the delegates.

Consider this question;

“For the time and effort each delegate invested, did they get value that lasted 100 times the conference duration?”

The answer to this question will come from asking delegates. But most surveys are completed as delegates leave the conference, or return to their office. That’s why they’re sometimes referred to as ‘happy sheets’. They reflect the feelings about the conference at the time, but do not tap the Law of 100.

Consider the merits of surveying some months after your conference. This could replace or add to your current survey approach.

Four simple questions can be answered to help you test the Law of 100. Adapt these examples to fit your own conference goals.

How long did the these 4 benefits last after your attendance at the XYZ conference:

1. Traction – your commitment and ability to sustain actions arising from the conference
2. Alignment – a positive feeling of being part of something worthwhile; (eg. your team, the organisation, or the conference themes)
3. Learning – the benefit of insights gained from experts and fellow delegates
4. Relationship – new/ stronger relationships with people who you have stayed connected with

Action; Survey your conference delegates 2 - 3 months after your event. Use the 4 questions above or adapt them to suit your situation.

Organisational Value

The Law of 100 also applies to organisations.

Your organisation is investing in the event and taking the risk, so it is useful to measure the lasting value.

Some key measures of success can be used to evaluate this. Through our experience with over 100 Corporate and Association/ NGO conferences we have found a balance of quantitative and qualitative measures works best. These measures can inform your own evaluation of organisational value.

1. Hard (Quantitative) Measures

The ultimate long term impact of a conference is on the top and bottom line.

Profit

A successful conference will contribute to profitability. When delegates pay their own way, a profitable event may be achieved and for some Associations/ NGO’s this can be a significant contribution to annual profits.

For Corporates, the Law of 100 would see your conference make a proportional impact on your organisation’s Annual Profit of 0.02 % – 2%. The extent of contribution depends on the size and seniority of the conference group compared to total staff in your organisation. For example, a conference for the top 100 leaders in a firm of 1000 employees will have a much more significant impact than a 100 person staff conference in a business of 5,000. 

Staff retention & Member growth

A great conference has an impact on the attractiveness of your organisation to staff and stakeholders. As a result of your conference, Law of 100 measures would see improved results in staff retention for Corporates and membership growth for Associations.

Revenue

Sales and Marketing conferences are often held to lift sales or new product growth. Law of 100 would see higher than forecast sales last longer afterwards.

The Law of 100 can also apply to sponsor revenues. A successful event will bring back existing sponsors to the same event next year, and provide a fantastic opportunity to sell the benefits of the conference to new sponsors.

For public or member conferences, revenues also increase when delegate numbers grow, driven by repeat delegates and word of mouth to others who attend as new delegates next year.

2. Soft (Qualitative) measures

While objective data is useful, other qualitative ‘soft measures’ can provide important evidence of the value of your conference even though they are more subjective. Soft measures can be monitored through surveys, observation or indexed results.

Focus

Your conference may be designed around a central message for your organisation.

For example, a Sales Conference with a large multi-national business was built on the key themes of Responsibility and Support. Separately, a National Association used their conference to launch their new brand and emphasise what it meant for members.

The Law of 100 will see this focus sustained in the minds of the staff and delegates.

Change Implementation

You may be running a conference at the time of a significant change. Whilst the conference might be used to help people understand and take ownership of the change, the Law of 100 would see these changes being implemented more effectively over the months after the conference.

Profile and influence

Conferences are a great way to capture mind share and impress and influence key stakeholders. The Law of 100 will have you reviewing the growth of your organisational profile with influential people over the longer term. For example, one National Association has used their conference to build higher profile for a new group of target stakeholders who ultimately joined as members.

Action; Evaluate the organisation value you achieved from your last conference using the relevant measures above.

Summary

There’s an old management adage that ‘You get what you measure.’

By using the Law of 100 to understand and measure Conference Value you can create a greater focus on delivering long term value to the delegates and your organisation rather than just delivering a feel good factor that is short lived.

This can strengthen your aim of having an impact with your next conference and give you clear, measurable goals that reflect the true value of return on your investment.

Next steps

FAST Meetings Co. is developing a Conference Value Calculator, a tool to help you plan measurable goals for your next conference, and then apply the Law of 100 by reviewing your performance 100 times after the duration of your conference. It will be launched in the middle of 2010.

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David Pointon

FAST Meetings Co.

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FAST Meetings Co is dedicated to increasing the value of meetings worldwide. We deliver services to support the planning, design and facilitation of conferences that fulfil the Law of 100.