Return on Investment or ROI – what does it really mean?

According to Business News Daily, return on investment refers to the amount of profit directly related to an expense or group of expenses.

For example, if you hire a keynote speaker with an investment of  $10,000 and if that speaker’s message motivated the sales team to close $100,000 of business over the next six months, the ROI would be 10x the investment. However, some situations are not that “cut and dried”. Association meeting planners or industry events may look to cover a keynote speaker cost through registrations and sponsorships, so to them ROI is more of a 1:1 measurement.

But it still comes down to this; how can you hire a keynote or motivational speaker that is worth their weight in gold and can potentially deliver that 10x or 100x return?

Return on Investment Metrics

Always ask the following when it comes to hiring a top motivational speaker to create maximum ROI:

1. Make sure they are willing to participate in pre-meeting discovery.
   The goal of these calls  is to help the speaker understand and identify with your goals, challenges and corporate culture. They need to understand how to use your jargon and how to relate their message best to your audience to create the biggest impact. When it happens, be completely transparent with what you need. If things are confidential, let them know (have them sign a NDA if you need to) but empower them to do what they can and connect with your audience so the speaker can deliver the outcome you want.
2. Ask the “How” questions early in the process.
   1. How will you connect with audience members before, during and after your presentation?
   2. How will attendees feel and behave after your talk?
   3. How have you been measured in the past?
   4. How much time will you spend customizing your presentation for my audience?
3. Vet them well.
   Check references, view YouTube videos and if possible, go and see them present in person.
4. Look for the added value opportunities for YOU and the keynote speaker.
   Where can you empower connections with the attendees before and during the conference? Some examples:
   
   1. Offer to set up a book signing area for them in return for attending a special VIP dinner with select attendees. 
   2. Give them free attendance to the conference in return for attending key networking receptions.
   3. Offer to run their YouTube videos on your social channels in return for them writing a guest blog about their event experience.
5. Check out their business world acumen.
   If the presenter has been a sales person, manager or worked for a Fortune 500 company in the past, and speaking to that type of audience, their ability to deliver a presentation that resonates with the audience is more likely than someone who has been in the academic world all their life.
6. Examine the risk if you don’t hire them.
   Understand that some speakers will put “butts in seats” just because of their name and others…well…need to be marketed more. Hiring the more famous speaker guarantees you will fill the house. What is the risk if you say “pass”? Will all your seats sell with the “not-so-known” presenter?

Jon Petz Will Maximize Your Return on Investment

Jon delivers a message that inspires results. He can be reached at  (614) 456-3072 or by filling out his online contact form. Please connect with him today!