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Monday, July 2, 2012

The Importance of Value

I was talking with a VP from a small financial company yesterday. She mentioned that she had considered attending a three-day industry conference in July but had decided against doing so, even though she felt that she should attend for the networking opportunities. When I asked why she had decided not to go, she said that the session descriptions were not very detailed and she simply couldn’t justify time away from her busy job without proof of the value of the event.

The reality is that most business people are extremely busy and must prioritize – this still applies for even short networking/business events. Personal development and training opportunities tend to be pushed down the priority list to begin with. Add on top of that an event where value has not be communicated, and it is tough to justify a decision to attend the event and pay not only the registration fee but the travel expenses. And when you consider getting three days behind and having to play catch-up when you get back to the office, the conference suddenly seems less appealing.

The lesson learned here for anyone planning an event is that communicating value can be the most important thing you do. While many companies have cut budgets for events and travel, most are willing to pay IF the employee is able to justify the expense in terms of benefit to the company. And if you are looking at attending an event, I recommend before you even ask about going that you outline the benefits that you (and the company) will receive if you are allowed to attend the event.

Do you have a good event story to tell? We’d love to hear about your conference and event experiences!

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