Event data management solutions provider nTag Interactive has struck a partnership with the ROI Institute, the Birmingham, AL-based resource for adherents to the Phillips return on investment methodology for meetings.
nTag reached out to the ROI Institute after hearing from clients seeking extensive ROI measurement beyond the current capabilities of nTag. "We are working with clients who said they really need the full rigor of ROI methodology that looks — beyond what happens on site — at the downstream consequences of an event," explained George Eberstadt, co-founder of nTag. "That is an offering beyond the scope of nTag."
But Eberstadt said that, at the same time, the ROI Institute was hearing from clients that they needed better access to data — precisely what nTag offers. So the two organizations were at opposite ends of the spectrum: nTag was collecting the data, while the ROI Institute had the methodology.
"We are always looking for new and innovative ways to collect data," said Jack Phillips, president of the ROI Institute. "nTag's particular approach is extremely helpful in collecting data, which is a large part of the ROI methodology. It makes sense to join our voices in the meetings and events industry."
"The relationship is a combination of a marketing partnership and a services-delivery partnership," according to Eberstadt. "We will actively introduce each other into our customer bases."
Eberstadt sees interest coming primarily from training events, customer events, business development-oriented events, and other events likely to receive a high level of scrutiny on their effectiveness versus their output of funds. He has also noticed interest from meetings held in a series of locations or dates, because one meeting can be evaluated and its results generally can be applied to the other meetings.
The goal, Phillips and Eberstadt said, is to make ROI measurement attainable for more clients.
"We want to try to decrease the confusion in the market," said Phillips. "There are many different processes, and when organizations can work together to promote a common process, it makes sense to do so in an effort to create consistency within the market. Our products and services can bring accountability to this industry."
Contact Kinley Levack at [email protected]
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