In the last year, more and more companies have started measuring the return on investment of motivational events and incentive travel programs, according to the Site International Foundation, which last week released an update to its April 2010 report, "Site Index: Focus on Measurement."
The new report, "Site Index: Focus on Measurement Revisited," revealed a "significant" year-over-year increase in respondents who reported that their organizations or clients use measurement "almost all the time" or "always," up from 8.1 percent in 2010 to 24.7 percent in 2011.
"Our environment continues to demand validation for each business decision and significant investment," says Site International Foundation President Steve O’Malley, senior vice president of Maritz Travel. "This study once again reinforces that it is vital for professionals in the motivational events supply chain to determine how they can best contribute to the measurement process for our end-user customers. Failure to clearly prove our measured business value will weaken our position [of being] seen as consultants and place us further at risk for increased commoditization buying across all services."
Added Site International Foundation Research Committee Chair Jane Schuldt, president of World Marketing Group Ltd., "One can be optimistic if this data serves as an indicator that more companies are supporting the end client's ability to collect the financial data to measure the success of motivational programs. However, the trustees of the foundation understand that there is much more work to be done in educating Site members and industry colleagues—as well as individuals with newly assigned responsibilities inside end-user corporations—in the variety of ways that a program can be measured.
Schuldt continues, "Site must continue to create tools and facilitate forums for idea sharing, lead training sessions, and publish data that encourages our members and their organizations to raise the bar. Providing real and immediate educational value will also encourage prospective members to join in the conversation and learning."
The complete Site Index survey results are available at www.siteglobal.com