Event Marketing Summit: B2B/B2C Measurement Microsession
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Transcript of Event Marketing Summit: B2B/B2C Measurement Microsession
Measurement 7 Ways for B2B 7 Ways for B2C
EMS 2013
1. Position your image over this area.
2. Resize and/or crop your image as necessary so that it is slightly larger than the grey area and covers it entirely. (approximate dimension of image: 10.0” x 3.8”)
3. With the grey area now hidden behind your image, right click your image and choose Send to Back. This places it behind a frame to ensure consistent placement and sizing across all slides.
10.0”
3.8”
SVP, Managing Director Jack Morton Worldwide [email protected] @pensinger
Matt Pensinger
1. Position your image over this area.
2. Resize and/or crop your image so that it fills the entire slide (10.0” x 7.5”)
3. Right click your image and choose Send to Back.
10.0”
7.5”
Measurement Conundrum
Quick Survey Why Definitions MOs / KPIs B2B/B2C Frameworks Towards Big Data
Agenda
How many lead, manage or approve measurement initiatives? How many think your company (or client) values measurement in your programs? What is your satisfaction with current measurement efforts?
Survey
Why Measurement?
Drive Decisions
Impressions Awareness Attendance Web site traffic Leads Social media mentions Consideration Sales ROI and think about the decisions ahead…
So, measure what matters
Measurement starts with a clear definition of success
Definitions
1. Measurable Objectives (MO)
2. Success Metrics (KPIs): “Are you successful or not?”
3. Diagnostic Metrics: “Why?” or “Why Not?”
The answers to these questions will help you: Replicate success Fix what’s not working
Measurement Definitions
Measurable Objectives Raise awareness Raise understanding Improve perception Generate advocacy Drive purchase consideration Improve commitment/engagement Generate demand Generate sales Improve productivity
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IDENTIFIED KPIs?
Framework
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MO KPIs Raise awareness Attendance, registrations, impressions, premiums collected
Raise understanding
Familiarity with brand/product messages, share of voice, dwell time, activities completed, conversations with brand ambassadors, training completions, trials completed, samples completed, demos completed, test drives completed
Improve perception Overall brand opinion, rating of brand/product messages, customer anecdotes, employee rating of workplace/training, preference over competitor brand
Generate advocacy Likelihood to recommend brand (Net Promoter Score), likelihood to share experience, experience content shares (e.g. video), Google search, social network friends/comments/likes, online comments, online sentiment, media coverage
Drive purchase consideration
Likelihood to purchase, likelihood to contact
Improve commitment / engagement
Employee preparedness, employee motivation, customer pledge of commitment
Generate demand Customer meetings, leads (requests for information / follow up contact), customer acquisitions, customer commitment
Generate sales New customer sales, repeat sales
Improve productivity Customer/employee attrition, sales per employee
B2B Frameworks User Conference (Existing Customers)
Sales Meeting (Employees)
Pre-Event Audience gen. effectiveness Web traffic Registrations Brand engagement Social conversations Sponsor/partner participation
Understanding (benchmark) Sales/employee (benchmark) Engagement (benchmark) Session registrations % Pre-work completed
During Attendance (overall / sessions) Rating of brand/product messages Customer Anecdotes Leads Social conversations
Session attendance Understanding of brand/products Rating of brand/product messages
Post-Event Event diagnostics Session ratings Engagement Social conversations Sponsor/partner feedback Event Revenue NPS Sales
Event diagnostics Engagement Rating of content/learning Productivity of sales tools Sales/employee Attrition
B2C Frameworks Proprietary Event
Sponsorship Activation
Pre-Event Audience gen. effectiveness Web traffic Registrations Brand engagement Social conversations
Property marketing effectiveness Web traffic Social conversations
During Attendance Brand/product interactions Rating of brand/product messages Customer Anecdotes Opt-ins / Leads Social conversations Earned media
Attendance (% of event & target) Brand/product interactions Rating of brand/product messages Opt-ins / Leads Social conversations Earned media
Post-Event Event diagnostics Social conversations NPS Engagement Lead conversion Sales
Event diagnostics Social conversations NPS Engagement Lead conversion Sales
ROO ROE ROI
Companies do not want to have events
They want to build long-term relationships
with their audiences to drive revenue growth
ROI Models Single Attribution (Last/First) Single Attribution with Revenue Cycle Projection Attribute across touchpoints Test and Control Groups Marketing Mix Modeling
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Cost Accuracy
ROI Model Comparison Pros Cons
Single Attribution (Last / First)
Simple to implement Works well when focus is on lead generation Simple metric on investment/lead
Does not give value to subsequent touchpoints May give too much credit to lead generation programs Hard to quantify until the sale
Single Attribution + Revenue Cycle Projection
Focuses on revenue impact of programs Estimates future value of today’s investments Considers lead quality and quantity
Uses past performance to forecast future results Attributes value to lead sources vs. other marketing elements Requires that estimates must eventually be backed up with actual results
Attribute Across Touchpoints
Incorporates nurturing touchpoints in addition to leads Useful for long revenue cycles with many touches Focuses on all contacts associated with a deal
Requires assumptions that can add bias to analysis Important to find any possible “hidden” contributors, including online and sales activity Lacks insight into synergy of tactics
Brand Experience Optimization Model The BXP Optimization model is a proprietary measurement tool developed based upon the analysis for thousands of event. The model allows Jack Morton to…
• Quickly identify activation elements that have the greatest impact on a brand experience as well as prioritize and determine the most cost efficient means of improving an experience
• Quantify consumers’ overall satisfaction with an experience and
determine if it met expectations • Measure the degree by which an experience impacts key brand
measures and the likelihood consumers will take future action
There are three core areas where the model provides insights to:
Understand consumers’ overall satisfaction with a brand experience via the Brand Experience Score (scale from 0 to 1000 with programs typically targeting 800 and higher)
Determine the most effective way to meet/exceed consumer expectations via Operational Element Ranking and Priority Analyses
This allows us to provide actionable insight like an appropriate budget allocation shift from entertainment to informative activation elements or vice versa
Recognize the likely impact on Future Outcomes and key Marketing Measures
Likelihood to Share the Experience/Tell a Friend Recommend Brand Purchase Consideration Visit Brand Website/Contact Retailer
BXP Optimization Model Overview
Brand Experiences have limited consumer engagement/activation budgets, but those budgets need to be maximized and utilized to exceed consumers’ expectations most efficiently
There are a half dozen activation/execution elements that typically explain 50% to 75% (adjusted R squared .50 to .75) of the success or failure of a brand experience. For any given program, one or two of those elements are usually the primary drivers of success The key to efficient and effective execution is quickly identifying the elements that are most important to your consumers and ensuring that those elements receive adequate attention and allocation of the activation budget
BXP Optimization Model Overview
Huawei Case Study
3 Concepts Living Tour – Lifestyle interaction in a Botanical Gardens-like environment Solutions Tour – Emphasized consumer interaction with Huawei product via multimedia and 1:1 product interactions Entertainment Tour – Highlighted Huawei’s new music app, featured a live DJ and hands-on demos of new music platform
Huawei Summer Tour
BXP indicated that the “Solutions” tour resonated best with consumers, earned a very strong Brand Experience Score and drove significantly higher brand measures compared to both the “Living” and “Entertainment” tours that scored a little below average. The BXP analysis suggested that more personal interaction with the brand ambassadors and the Huawei devices is what set the “Solutions” tour apart from the rest, as it was also the most product centric execution of the three.
Huawei Summer Tour – BXP Analysis
EXECUTION TWO: “SOLUTIONS”
BRAND EXPERIENCE SCORE
841
Consider Brand
Recommend Brand
Share Experience 39% (Very
Likely)
35%
30%
EXECUTION ONE: “LIVING”
BRAND EXPERIENCE SCORE
784
EXECUTION THREE: “ENTERTAINMENT”
BRAND EXPERIENCE SCORE
775
Consider Brand
Recommend Brand
Share Experience 56% (Very Likely)
59%
50% Consider Brand
Recommend Brand
Share Experience 36% (Very
Likely)
35%
29%
1. Set Measurable Objectives 2. Map out KPIs 3. Design measurement plan based on business decisions 4. Plug in benchmarks 5. Determine collection methods/sources 6. Build the Dashboard 7. Go do it! 8. Analyze and apply
Wrap Up
1. Position your image over this area.
2. Resize and/or crop your image as necessary so that it is slightly larger than the grey area and covers it entirely. (approximate dimension of image: 10.0” x 3.8”)
3. With the grey area now hidden behind your image, right click your image and choose Send to Back. This places it behind a frame to ensure consistent placement and sizing across all slides.
10.0”
3.8”
SVP, Managing Director Jack Morton Worldwide [email protected] @pensinger
Matt Pensinger