Question 1

What costs should be included in the 'Total Exhibit Cost'?

Accepted Answer

Be comprehensive. Include direct costs like artist fees, shipping, fabrication, and installation. Also include indirect costs like a proportion of staff salaries, marketing and PR expenses, insurance, and any special lighting or security required for the exhibit.

Question 2

How is exhibit ROI different from a simple profit calculation?

Accepted Answer

Profit is a simple measure of revenue minus costs. ROI, on the other hand, expresses that profit as a percentage of the initial investment. This makes it easier to compare the performance of different exhibits with varying budgets. An exhibit that made $10,000 profit on a $10,000 investment (100% ROI) was more efficient than one that made $20,000 profit on a $100,000 investment (20% ROI).

Question 3

Can an exhibit with a negative financial ROI still be a success?

Accepted Answer

Absolutely. While financial ROI is important, it doesn't capture the full picture. An exhibit might lose money but be a massive success in other ways, such as:Mission Alignment: Fulfilling your institution's educational or cultural mission.Audience Growth: Attracting new, diverse audiences who may become future members or donors.Brand Building: Enhancing the institution's reputation and prestige.Community Engagement: Generating positive press and community involvement.These non-financial returns are critical but should be evaluated alongside the financial data.

Question 4

What is a 'good' ROI for a special exhibit?

Accepted Answer

There's no single answer, as it depends on the institution's goals. A major blockbuster exhibit at a large museum might be expected to have a high positive ROI. A smaller, mission-driven community gallery might consider breaking even (0% ROI) a major success. The key is to set a target ROI during the planning phase that aligns with the exhibit's specific goals.

Question 5

How can we increase the ROI of our exhibits?

Accepted Answer

You can increase ROI by either decreasing costs or increasing revenue. Focus on high-impact revenue streams like targeted sponsorships, exclusive member previews (driving membership sales), unique merchandise, and special ticketed events (e.g., artist talks, opening galas). On the cost side, explore in-kind sponsorships, efficient marketing spend, and modular exhibit designs that can be reused.

Special Exhibit ROI Calculator

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Understanding Special Exhibit ROI

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