MyROI Report MyROI Service - Provided Nov/Dec, 2010 IRA KERNS Prepared For:

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MyROI Report

MyROI Service - Provided Nov/Dec, 2010

Prepared For:

IRA KERNS

Report Date: 5/2/2011

Copyright ©2011 MeetingMetrics

3 0 5 E. 8 6T H STREET, SUITE 19 C W | NEW YORK , NY 10028 | 212 426 -6222 | FAX 212 - 427 - 7514 | www.meetingmetrics.com

Welcome

Dear Ira,

Thank you for your participation in the MyROI program. You have taken an important step in gaining essential knowledge and insights about your application of what you learned at the event, the impacts you created and the financial ROI results of your event participation.

Our mission is to support and assist you in understanding the impact of your meeting investments on your job and your organization. This report, in addition to providing you with your own ROI result score, contains additional key information about your performance as well as guidance to enable you to better understand and analyze the specific causes and influences that affected your post-event results. By examining this information, you can gain an understanding into what worked well and what didn't work so well in your post-event efforts.

The last section of this report is an action plan for you to use in creating specific next steps to improve your professional practices and outcomes on the job, targeting professional development goals and affirming your commitment to greater personal success in the coming months. If you have any questions about your MyROI report, please contact us. We wish you every success.

Best personal regards,

Ira Kerns

Managing Director

MeetingMetrics

212-426-2333 (direct) kerns@meetingmetrics.com

5/2/2011 Copyright ©2011 MeetingMetrics Page 1 of 11

MyROI

How Your Survey Results are Organized and Displayed

Summary of Findings

Your MyROI Survey results are presented in this report. The first portion of the report separates results out across five key survey areas: q

Your Learning Experience. q q q q

Job Relevance of Skills and Knowledge Acquired at the Meeting.

Impact of Meeting on Work Behavior.

Barriers and Enablers.

Event Value.

Results for each area are displayed in a table similar to the one presented below.

As you can see, the table presents results first for yourself, then it shows the results for the average survey respondent, and finally it shows the percentage of survey respondents who provided favorable ratings (e.g., Satisfied/Very Satisfied; Agree/Strongly

Agree, etc.) on each question in the table.

Sample Table

Your Learning Experience at the IMSA Annual Meeting

Question

How satisfied are you with the overall effectiveness of the training sessions at the IMSA Annual Meeting?

The training provided me with new skills.

The training format and content effectively met my needs.

The new skills that the training provided me with have been relevant in my day to day work.

Average

5/2/2011

Self Average Respondent Overall % Fav

5.0 4.1 86.4%

5.0

5.0

4.0

4.8

4.0

4.2

3.9

4.0

81.8%

90.9%

72.7%

83.0%

Scale: (1) Very Dissatisfied (2) Dissatisfied (3) Neutral (4) Satisfied (5) Very Satisfied

Copyright ©2011 MeetingMetrics Page 2 of 11

MyROI

How Your Survey Results are Organized and Displayed (continued)

Summary of Findings

Your Estimated ROI

This section of the report summarizes the financial impact information you provided in the survey and compares it to the financial impact information provided by the “average” survey respondent.

Financial Impact Measures.

Depending on whether you provided data on one or two financial impact measures, the report will present one or two "measure" tables. Each measure's table displays the following information: q

Measure’s Description – This is the description of the measure that was provided in the survey. q

Monetary Value – This is the dollar value of the increase in the measure about which information was provided. q q q q

Profit Margin – This column shows information only if the measure refers to revenues. When values are reported in this column, the values represent the profit margin on the revenues’ monetary value. For example, if the value is 0.50, then the reported profit margin is 50% of the revenues’ monetary value.

Isolation Estimate – This is the percentage of the measure's increase attributed to the application and impact of what was learned at the meeting. For example, if the isolation estimate is 50%, 50% of the measure's increase is attributed to the application of the skills and knowledge that were learned at the meeting.

Confidence in Estimates – This is the confidence expressed in the estimates about the financial impact of the measure.

For example, if the level of confidence expressed is 90%, the estimates for the measure's financial impact are viewed as being 90% accurate.

Adjusted Value – This is the dollar value of the measure's increase attributable to the application of the knowledge and skills that were learned at the meeting after correcting for the level of error in the measure's estimates per the level of confidence expressed. That is, this is the most accurate estimate of the value of the measure's increase that can be attributed to the application and impact of what was learned at the meeting.

Sample Table

Cost Savings Measure

Self

Average

Respondent

5/2/2011

Measure's Description

Monetary

Value

Profit Margin

(If Applicable)

Cost Savings in Negotiating Space

Rental

N/A

$8,000.00

$7,725.22

N/A

N/A

Copyright ©2011 MeetingMetrics

Isolation

Estimate

90.00%

64.50%

Confidence in

Estimates

90.00%

83.50%

Adjusted

Value

$5,832.00

$17,664.44

Page 3 of 11

MyROI

How Your Survey Results are Organized and Displayed (continued)

Summary of Findings

Meeting-Related Expenses.

The next table provides a summary of all your reported meeting-related expenses. In addition, the table also summarizes the meeting-related expenses of the average participant in the survey. A sample table is shown below.

Sample Table

Expenses

Self

Average

Respondent

Travel &

Transportation

$900.00

$941.37

Accomodations Meals

$1,000.00

$1,158.78

$500.00

$431.30

Incidental

Expenses

$200.00

$141.35

Registration

Fees

$750.00

$626.52

Workshop

Fees

$1,500.00

$1,643.91

Days of Work

Missed

$3,000.00

$4,872.61

Total

$7,850.00

$9,815.83

ROI Computation.

The last table in this section of the report, Your ROI table, displays the information used to compute your meeting ROI and the information used to compute the meeting ROI of the average survey participant. As shown below, the following information is displayed in this table: q

Total Adjusted Value – This is the total dollar value that was generated by applying the knowledge and skills acquired at the meeting. This value is adjusted so as to reflect solely the impact of the meeting and the level of confidence with which the estimates about the financial impact of the measure/s were provided. q

Total Costs – This value corresponds to the total expenses that were incurred to attend the meeting. q q q

Net Total Benefits – This value represents the net total financial benefits generated by the application of what was learned at the meeting and the impacts. In particular, this value is computed by subtracting the total costs related to the meeting from the total adjusted value (i.e., total financial impact of the meeting across the measures reported adjusted for error in estimates).

Benefit Cost Ratio – This ratio measures the relationship between meeting related costs and meeting related benefits. If the meeting related costs and financial benefits are identical, the ratio is equal to 1. If the meeting related financial benefits are higher than the costs incurred to attend the meeting, then the ratio is greater than one. If the financial benefits are lower than the meeting-related costs, then the ratio is smaller than one.

ROI – This value is the return on the investment made to attend the meeting. The value is computed by dividing the net total benefits associated with the meeting by the total meeting related costs. That is, this value expresses the net financial benefits as a fraction of the meeting related costs. A 100% ROI means that the net financial benefit associated with the meeting is equal to the total expenses incurred to attend the meeting. In other words, for each dollar spent to attend the meeting, there was a net $1 gain (i.e., gain after covering for the $1 spent).

For example, if you spent $10 to attend the meeting and later on earned $10 by applying the knowledge and skills acquired at the meeting, your ROI would be zero. The $10 you earned, in fact, would only cover the costs that you incurred to attend the meeting.

In contrast, if you spent $10 to attend the meeting and later on earned $15, then your ROI would be greater than zero.

Specifically, after covering your expenses ($10), you would still have a net gain of $5 which, value-wise, would be 50% of your meeting-related expenses. In this case, in other words, your ROI would be 50%. Similarly, if you earned $20 but spent only $10 to attend the meeting, your return on investment would be 100%. After covering your $10 expenses, you would be left with a net gain of $10 whose value is 100% of what you spent to attend the meeting.

5/2/2011

Sample Table

Your ROI

Self

Overall

Total Adj. Value

$25,992.00

$75,934.33

Total Costs

$7,850.00

$9,815.83

Net Total Benefits

$18,142.00

Benefit Cost Ratio

3.31

$66,118.50 8.43

Copyright ©2011 MeetingMetrics

ROI

231.11%

742.92%

Page 4 of 11

MyROI

How Your Survey Results are Organized and Displayed (continued)

Summary of Findings

Comments

This section of the report lists all the comments you provided in response to the open-ended questions in the survey. Comments are organized by question. The list below provides an example.

Example

Job Relevance of Skills and Knowledge Acquired at the Meeting

How did you use the materials and learning you acquired at the meeting?

I have been able to negotiate pricing and terms much more effectively now by using the strategies and techniques I learned at the meeting.

Please indicate the change in the application of knowledge and skills as a result of our participation in the IMSA Annual Meeting.

The Master Series Workshop was great. It provided me with new skills on how to position my proposals to our leadership which has resulted in my getting two important programs approved which ultimately produced increases in our members' satisfaction.

Barriers and Enablers

What barriers, if any, did you encounter after the meeting that prevented you from applying what you learned to achieve your goals?

I encountered some resistance from my manager to my new style and strategy of negotiating. I had to prove that my approach would work with a single vendor before he would let me use the approach with all of our vendors. It worked out ok in the end, but took much longer than it should and I know that I missed some opportunities for gains by being so cautious.

What enablers, if any, helped you after the meeting to apply what you learned to achieve your goals?

One of my co-workers agreed to role play with me to practice negotiations. It helped both of us to internalize key phrases and react better to situations in real life that would have stymied us when meeting with a vendor without this kind of rehearsal.

5/2/2011 Copyright ©2011 MeetingMetrics Page 5 of 11

MyROI

Analyzing and Interpreting Your Survey Results

Summary of Findings

As you review your survey results following the steps below, please be sure to focus your action plan on areas that you can impact.

In general, when analyzing your results, you should consider: q

Areas that you rated high and areas that you rated low. q q q q

How the areas that you rated high had a positive impact on the financial results that you achieved.

How the areas that you rated low prevented you from achieving more positive financial results.

Your ratings in relation to the ratings provided by the average survey participant; in particular, the relationship between your total adjusted value, meeting costs and net total benefits and those of the average survey participant.

Areas you may want to focus on to expand the financial impact of your meeting investment.

The following steps should help you to analyze and interpret your survey results, and develop an effective action plan:

1. Review your report in its entirety and familiarize yourself with your survey results.

2. Identify the high and low scoring areas. q

Review the high scoring questions. In retrospective, what were the meeting’s major areas of strength? How can these areas of strength be used to select other successful meeting experiences? q

Similarly, review the low scoring questions. Why were these low scoring areas? Are they within your control to impact or the meeting’s sponsor’s impact? What can you learn from them to optimize the return on your meeting investments?

3. Assess your estimated ROI data. How does your level of confidence compare with the average level of confidence expressed by participants in the survey in providing estimates about the meeting’s financial impact? Were you more confident than the average participant? Were you less confident? How can you improve the level of confidence of your estimates in future assessments of your meeting investments?

4. How does your isolation estimate compare to that of the average survey participant? Were you able to transfer a greater portion of what you learned at the meeting into your job and thus better leverage the impact of the meeting relative to the average participant? If not, what, in your opinion, prevented you from achieving a greater meeting impact? How did the barriers you encountered in applying the knowledge and skills you acquired at the meeting prevent you from achieving better results? How can you limit the influence of these barriers going forward?

5. Were your meeting related expenses in line with the expenses of the average survey participant? If not, in which areas did you spend more money? Could you have saved some money in retrospective? If so, how could you have limited some of your expenses? If you spent less money than the average participants in some areas, how were you able to achieve these savings? Do you think that spending more money in these areas could have increased your meeting ROI by strengthening the meeting financial impact?

Action Planning To Improve Your Meeting ROI

1. Review your results and create a tentative action plan by using the action plan template provided at the end of the report.

Consult your manager, as appropriate.

2. After discussing your survey results with your manger, finalize your action plan.

5/2/2011

3. Once you finalize your action plan, begin implementing it.

Copyright ©2011 MeetingMetrics Page 6 of 11

MyROI

Survey Findings

Report for IRA KERNS

My 2010 WEC Experience

Question

MPI''s 2010 World Education Congress met my expectations.

Overall, I am satisfied with the learning opportunities that the 2010 WEC offered.

I enjoyed the educational sessions I attended at the 2010 WEC.

The 2010 WEC was a stimulating, thought-provoking event.

MPI''s WEC is a key industry event worth attending every year.

Average

Self

5

5

4

6

5

5.00

Average Respondent

4.95

4.75

4.73

4.76

4.98

4.83

Overall % Fav

94.46%

91.61%

93.71%

90.62%

93.01%

92.68%

Scale: (1) Strongly Disagree (2) Disagree (3) Disagree Somewhat (4) Agree Somewhat (5) Agree (6) Strongly Agree

My WEC Learning Experience

Question

The knowledge that I gained at the 2010 WEC is highly relevant to my job.

What I learned at the 2010 WEC enhanced my job effectiveness.

The speakers at the educational sessions that I attended were well-prepared and effective in meeting the session’s learning objectives.

The applicability of the learning content offered at the 2010 WEC was immediate and easy to understand.

Average

Self

5

5

6

5

5.25

Average

Respondent

4.74

4.51

4.75

4.75

4.69

Scale: (1) Strongly Disagree (2) Disagree (3) Disagree Somewhat (4) Agree Somewhat (5) Agree (6) Strongly Agree

Overall %

Fav

94.06%

90.07%

94.06%

93.66%

92.96%

Impact of the 2010 WEC on Your Work Behavior

Question

The knowledge that I gained at the 2010 WEC has been of great benefit to me in my work.

What percent of new knowledge/skills gained at the 2010 WEC did you apply to your job?

What percent of your total work time have you spent on tasks that required the knowledge/skills that you gained at the 2010 WEC?

Have you received adequate support in your organization when attempting to apply this knowledge?

Average

5

6

2

Self

5

4.50

Average

Respondent

4.60

4.30

3.92

1.87

3.67

Overall %

Fav

92.25%

30.11%

25.57%

86.84%

58.69%

Scale: (1) No (2) Yes

2010 WEC''s Business Impact

Question

My 2010 WEC experience has helped increase my effectiveness in my current role.

The 2010 WEC was a worthwhile investment for my professional development.

The 2010 WEC was a worthwhile investment for my employer.

Average

5/2/2011

Self

5

6

4

5.00

Average Respondent

4.49

4.92

4.81

4.74

Overall % Fav

91.32%

93.61%

92.34%

92.42%

Scale: (1) Strongly Disagree (2) Disagree (3) Disagree Somewhat (4) Agree Somewhat (5) Agree (6) Strongly Agree

Copyright ©2011 MeetingMetrics Page 7 of 11

MyROI

Your Estimated ROI

Report for IRA KERNS

Cost Savings Measure

Average Respondent

Measure's Description

N/A

Monetary

Value

Profit Margin

(If Applicable)

Insuffient Data

Isolation

Estimate

$25,002.38 N/A 55.05%

Confidence in

Estimates

Adjusted

Value

79.19% $13,667.52

Increased Revenues Measure

Self

Average Respondent

Measure's Description

By using a connection made at

WEC, I was able to book a reletively good sized meeting for our destination. This program utilized our headquarters hotel for all it's meeting space, F&B, and exhibit space.

N/A

Monetary

Value

$100,000.00

Profit Margin

(If Applicable)

N/A

Isolation

Estimate

70.00%

$80,983.87 N/A 44.84%

Confidence in

Estimates

80.00%

ROI

796.72%

250.04%

ROI

796.72%

341.52%

Adjusted

Value

$22,400.00

72.74% $9,553.48

Expenses

Self

Average

Respondent

Registration

Fees

$625.00

$676.10

Travel and Lodging Expenses.

Include all travel, transportation, meals, hotel, etc.):

$1,200.00

$1,665.25

Your Cost Savings ROI

Total Adj. Value

Self

Average Respondent $13,667.52

Your Increased Revenues ROI

Self

Average Respondent

Total Adj. Value

$22,400.00

$9,553.48

Your Total ROI

Self

Average Respondent

5/2/2011

Total Adj. Value

$22,400.00

$13,145.18

Total Costs

Time Out of Office Expenses - cost of work days missed to attend the meeting (please estimate the cost of each day out of the office by dividing your monthly gross salary by 22)

Net Total Benefits

Insuffient Data

$673.00

$1,216.48

Benefit Cost Ratio

$3,301.30 $10,366.22 4.35

Total Costs

$2,498.00

$4,434.87

Total Costs

$2,498.00

Net Total Benefits

$19,902.00

$5,118.60

Net Total Benefits

$19,902.00

$3,787.74 $9,357.44

Copyright ©2011 MeetingMetrics

Benefit Cost Ratio

8.97

3.50

Benefit Cost Ratio

8.97

4.42

Miscellaneous

$0.00

$229.92

ROI

334.63%

Total

$2,498.00

$3,787.74

Page 8 of 11

MyROI

Comments

Report for IRA KERNS

Impact of the 2010 WEC on Your Work Behavior

What has benefited you the most as a professsional from your participation in WEC in Vancouver?

As a young professional, any opportunity that I have to learn in a seminar setting as well as through networking, I take advantage of. As a broad brush stoke, the education delivered at this year's WEC looked at the ever changing meetings industry with a very strategic eye. I attended sessions on Technology,

Generational Communications, Contracting and working with DMO's and the information recieved at all of them helps to continue to build me into a well-rounded meeting professional.

What has helped or enabled you to successfully apply the knowledge/skills that you gained at the 2010 WEC in your job?

My organization is a small DMO representing Providence, RI. I have the benefit of a lot of freedom when examining my sales strategies. Through attending WEC, I am able to tweak the way i work with and approach potential clients to build stronger relationships. The freedom to experiment in new ways helps to enable me to have success in all aspects of my career.

What barriers, if any, have you encountered that prevented you from successfully applying the knowledge / skills that you gained at the 2010

WEC?

Since I work for an organization that is willing to try new things, many of the ideas generated from WEC are met with little resistance. Our biggest concern as a small destination is, and always will be, budgetting. With many programs, especially hosted buyer's popularity and price tag, the increased exhibitor costs could be viewed as a major barrier for us going forward.

Increased Revenues

Please describe what knowledge/skills you used to achieve the increased revenues and how this knowledge/skills proved to be useful.

This opportunity resulted in a connection made during a discussion on generational communication issues. Oddly enough, I was the millenniall and the client was the Baby Boomer in the discussion...and we communicated just fine!

Please list all the factors that may have contributed to the increased revenues that you are reporting about in addition to the use of knowledge/skills that you learned at the 2010 MPI WEC. If no other factors contributed, please write n/a. n/a

5/2/2011 Copyright ©2011 MeetingMetrics Page 9 of 11

 

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