Measurement experts Angela Sinickas and Kevin Ruck recently engaged in a LinkedIn debate about the value of measuring the return on investment of internal comms interventions.
The only outcome of a conference that has a monetary value is behavior change. Identify the behaviors that should change as a result of the conference and how much credit the conference can take for those changes.
Calculating a return on investment (ROI) for something as intangible as internal communication has long been considered nearly impossible. But the trick to calculating ROI is to focus on small elements of our communications that are directly targeted at changing some measurable behavior.
It is possible to quantify specific elements of a companys reputation and its impact on various financial factors that contribute to the bottom line. One way is to look at the increased revenue reputation can generate, either from being able to charge a higher price or from greater customer retention due to loyalty.
The trick to being able to calculate ROI is to focus on small elements of our communications that are directly focused on changing some measurable behavior of our audience that has a bottom-line impacteither on increasing the organizations revenue or reducing its costs.
Employee perceptions of leadership correlate strongly with a companys financial success. Since communication opportunities between leaders and employees help form employees opinions of leaders, communicators should be doing all they can to enhance and improve these contact points.