From speaking with Quorum users and other industry leaders, we've identified five strategies as the leading ways organizations are measuring the return on investment of government affairs. Read this blog to see how you can measure ROI by the financial impact of the government affairs department, or download our E-Book for all five strategies and explanations of how Quorum can help.
An effective strategy for measuring ROI of government affairs is measuring the rate that you achieve your preferred legislative outcomes, and how that rate changes by issue and year over year. This strategy works best at the state level where you’re working on high volumes of legislation and at the federal level if the issue has many parts in separate pieces of legislation or regulation.
To analyze this metric, build or purchase a system to track legislation and regulation. Then, tag each bill or regulation that falls under one of your key issues with “Support”, “Oppose”, or “Watching”. Track the legislation as it goes through the legislative process and mark if your preferred outcome was achieved—bills and regulations you supported passed or bills and regulations you opposed failed.
At the end of the year, break down the rate of success by different variables to glean relevant insights. For example, was your team better at defeating bills you opposed than moving bills you supported through the process? Did you have more success on one issue than another? Was a particular member of your team especially effective in the legislation they worked on? Most importantly, examine how your efforts this year changed from last year.
With Quorum, tag bills by stance as part of your legislative tracking workflow, then at any time easily pull graphs broken down by each preferred variable. This is achievable in three simple steps.
Once alerted to a new bill matching your organization's search terms, set a stance, priority, and issue on that particular bill. With each bill tagged to a stance, priority, and issue, you can, easily create graphs at the click of a button covering analysis such as “What was the breakdown of our stances on the bills we worked on this year?”, “What percent of bills we supported made it to each stage of the legislative process?”, “In what issue did we support the most bills?”, or “How many bills that we supported were a high priority, medium priority, or low priority?”.Download each of the graphs with another click, and you can easily build a report to share with your leadership team or C-suite to show the work you’ve done over a given period and what successes you’ve had.
To see how your government affairs team can measure your ROI by legislative outcome with Quorum, request a demo.