ROI is not the problem. Our definition of value is.
We often believe we’ve created a successful event. Revenue looks goog. Costs are under control. The spreadsheet smiles.
And yet something feels incomplete.
In the MICE industry, ROI has long been our dominant language of success. It helps justify budgets and report accountability. And to be clear: ROI is not wrong. It is simply incomplete.
Events no longer operate purely in a transactional economy. They exist in the Experience, Transformation and Purpose Economy, where value is also emotional, social and organisational.
The real issue is not ROI itself. It is the narrow definition of value we attach to it.
Four lenses on value creation
If we want to understand the true impact of events, we need multiple angles. Increasingly, four “ROs” help structure that conversation:
ROO: Return on Objectives Did the event achieve what it was meant to achieve? Strategic alignment, perception shift, stakeholder connection. ROO guides design before measurement begins.
ROX: Return on Experience Stakeholders do not remember budgets. They remember moments. Relevance, emotional engagement and memorability determine long-term impact.
ROE: Return on Effort Often overlooked. Was the human and organisational effort sustainable? A “great” event with exhausted teams carries hidden cost.
ROI: Return on Investment Financial outcomes still matter. But without context, ROI becomes a lonely metric. Alongside ROO, ROX and ROE, it becomes realistic and meaningful.
A simple example: A conference may break even financially. ROI looks neutral. But if 70% of attendees report new partnerships, speakers are invited back internationally and the organising team builds a repeatable format, the real value is far from neutral. ROO, ROX and ROE reveal growth that a spreadsheet alone never shows.
Why this matters
What we choose to measure shapes what we choose to design. If we only reward financial efficiency, we optimise spreadsheets. If we broaden our metrics, we design trust, connection and long-term relevance.
Value is not something you extract at the end of an event. It is something you intentionally cultivate throughout the entire journey.
More reflections on this topic can be found in The real MICEbook.
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