Skip Cox
Skip Cox is Senior Vice President of Research and Measurement at Freeman.
The Balancing Act of Event Measurement
October 7, 2016
From seasoned event organizers to novice marketers, everyone measures event ROI differently. Organizers and meeting planners are often looking to better understand the big picture and are searching for ways to prove ROI while improving their programs.
But each organization has unique goals and objectives. And an event measurement strategy should be as unique as the event itself.
There are, however, certain universal aspects that should be part of every trade show or event measurement plan to ensure a healthy, vibrant, successful program year after year. Instead of looking at metrics individually, event professionals who take a holistic view of their events will uncover deep insights into the health and performance of their program.
It’s a balancing act, but it’s easily achievable with the right framework in place.
Start by examining your event as an ecosystem. Understand that there is a complex network of interactions among your stakeholders, all interdependent on each other for creating and delivering value. Get to know your stakeholders and their relationships both with you as well as with each other. Then examine your event data holistically, measuring against past performance and against industry benchmarks.
Once you do that, you can begin to uncover big-picture trends, as well as how your program performs against the competition. With those insights in hand, you now have the tools you need to deliver more value to your stakeholders. You will also have a clear-cut guide for improving your event.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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