Calculating the return on investment (ROI) of an international conference or event is both a simple and intricate process. It requires accounting for the time and resources that your organization dedicates to its organization and participation in the event. An effective approach to evaluating ROI involves analyzing and comparing the costs incurred with the value achieved. Doing so gives you a more comprehensive understanding of the conference or event’s financial impact on your organization and can aid in optimizing your event strategy.
In very simple terms, calculating the ROI of your event requires you to subtract the total cost of your conference from the total revenue generated and then divide it by the total cost of the event. There are, of course, many other value variables that should be considered, such as what the purpose of your event ultimately is—for example, developing brand awareness or raising your organization’s profile, attracting global talent, creating networking opportunities, or launching a product, service or publishing research results.
Another way to look at it is from the point of view of your audience. Sending an employee to attend an international conference or attending it on your own is expensive. When you consider the admission fee, travel and accommodation costs, and the indirect cost of missing regular work for a few days, costs can add up quite substantially.
This is why, as the event organizer, it is important to clearly communicate the return on investment for conference attendees. This brings us to the crucial aspect of setting your attendees up for success. If both your organization and your audience are investing significant time and effort to respectively organize and attend an international conference, it becomes essential to ensure participants get real value from the event. This is why you have worked hard to carefully craft a program filled with valuable content and prestigious speakers, and why you have ensured that every technical and logistical detail has been taken care of to provide a seamless experience. It is also why the speakers at your conference have carefully crafted their presentations to deliver a valuable and insightful message.
With an audience made up of multiple nationalities and cultural and linguistic backgrounds, giving attendees the opportunity to listen to the messages being delivered in their own languages will ensure your guests enjoy a stress-free and highly engaging event while providing your organization the benefit of increased brand awareness and a genuine and lasting connection with your global audience.
Investing in professional conference interpreting services can be calculated in many ways. But the bottom line is that working with the right language partner will foster strong relationships and a shared understanding that will last far beyond the physical bounds of your conference.
