Wednesday, February 8, 2017
ROI, ROE, R U even Relevant?
For instance, to motivate a group of salespeople you create a contest that involves a trip if that salesperson sells a lot. You invest in the development of the contest, and then the program. And what exactly do you measure? The ratio of the earnings of the salesperson to the cost of the activity? Or is it about the trip forming a community of winners who can then motivate each other and eventually others as well? And how long would that take? When do you take the measurement?
Return on Experience... Return on Education... again, what's the measure? You provide education and you can, of course, test the retention or study how it has been applied. But when? Immediately or is it possible that a person learns something that might be valuable at a far distant future and has a true effect on some outcome? When might that be and how could it be measured? What's the return on "experience," and how is it measured? By smiling faces? By positive Instagram and Twitter postings (Sorry, I'm old-fashioned and don't know what today's latest channels are).
My measures come from hearing that people feel valued, have felt that they've had a great experience, or have been educated or motivated. I get that from talking to them in the here and now and truly listening to what they have to say. Far better than surveys or extensive studies on those acronyms.
I would love to hear YOUR thoughts on these rebellious ideas.
Andrea Michaels is the founder and president of Extraordinary Events, a Los Angeles-based, international event agency, and the author of Reflections of a Successful Wallflower:Lessons in Business; Lessons in Life. Andrea may be contacted via email@example.com.