. Do you know how to measure the value of your events? | Meetings & Conventions Asia

Do you know how to measure the value of your events?

BestCities Global Alliance launches ‘legacy language’ toolkit to quantify impact of business events.

These indicators seek to quantify the long-lasting legacies that business events can have, and support associations in demonstrating their value in the meetings industry.
These indicators seek to quantify the long-lasting legacies that business events can have, and support associations in demonstrating their value in the meetings industry. Photo Credit:Gettyimages/kasto80

BestCities Global Alliance, which comprises a network of 11 convention Bureaus, has launched a new framework of measurement indicators to quantify the positive impact of international association meetings.

Typically, post-meeting measurements are clear cut, and includes media coverage, business opportunities, new investments and number of local and international attendees. But what about the long-term view?

“For a long time in our industry, we’ve been looking for a way to quantify the long-lasting legacies that business events can have, and support our associations to demonstrate their huge worth,” said Lesley Williams, managing director at BestCities.

Calling it a ‘legacy language’, this vocabulary and measurement toolkit is the result of over 50 interviews and surveys with both destinations and associations covering a spectrum of sectors. Using findings from MeetDenmark’s 2018/2019 study into meeting legacies as a guideline for current practices, the report includes legacy measurement indicators, as well as a ‘how-to’ paper to aid members in incorporating these indicators when it comes to planning their events.

One key finding is the clear line between distinguishing meeting outcomes versus legacy, which the alliance claims will affect how meetings are planned and the variables considered to assess long-term legacy goals. Another interesting point is how the report suggests that meeting outcomes are in fact the drivers for a meeting legacy.

For instance, a meeting outcome of products and/or services showcase would drive a meeting legacy of exports and trade; business partnerships would drive industry scaling; and global visibility drive investments and attract talents.

Sarash De Wilde, contributor to the report and executive director of the International Society for Microbial Ecology (ISME), explained that these “meaningful indicators” will “hugely benefit [associations] who may be struggling to articulate clearly their true worth. We’re very proud to have been a part of its creation and look forward to seeing it in practise amongst our fellow meeting planners”.

Already looking ahead, the convention bureau alliance is currently looking at ways to bring the report’s framework of legacy measurement indicators onto a wider scale, for easy adoption by associations and destinations.