July 30th – August 1st, 2013 McCormick Place, Chicago, IL Performance Measurement, ROI and ROO...
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Transcript of July 30th – August 1st, 2013 McCormick Place, Chicago, IL Performance Measurement, ROI and ROO...
July 30th – August 1st, 2013McCormick Place, Chicago, IL
Performance Measurement, ROI and ROO
Marc L. Goldberg, CMEmarketech360
Performance Measurement
A process by which businesses, governments and organizations establish criteria for determining the quality of their activities based on goals and objectives
Measurable Value
Execs are asking more from meetings and events that simply accomplishing objectives. It must prove its worth in hard dollars and cents.
Execs want better ways to measure how they spend their marketing dollars.
What’s the difference between ROI and ROO
ROI Exhibiting investment = ROI Return generated
$25,000 = .33 or $3.00 for every $1.00 $75,000
ROI vs. ROO
In order to calculate ROI, you need to be able to track sales from captured leads
ROI vs. ROO
Measurement of benefit an exhibit company receives for participation at an exhibition by comparing pre-set objectives to show success
ROI vs. ROO
Increase brand awareness Increased brand awareness by 20%
Increase brand awareness 35% of those surveyed were more aware of your brand and its
values More proactive staff
73% of attendees indicated they were engaged Attendees learning something new
53% of attendees learned something new when visiting your exhibit
ROISales
vs. Cost
Business Results Leads/ Lead $ Value
Learning/Marketing Impact
Perception & Behavior Change
DiagnosticsSatisfaction / Reach & Share of Voice /
Management / Alignment
Calculation of total lead$$’s generated comparedwith investment in the event.
ROI calculations identify thereturn on investment supporting the understanding of the value ofthe event marketing in the overall mix
Number of A,B,C leads and $ value associated with each
Business Results identify the Value events contribute to theClient’s mission and goals
Effect of the Event on the Attendee’ sPerception & planned behavior
Marketing impact identifies the effect of the event
Quality of the event, total attendance, cost per, Portfolio
Continuous improvement
What to measure – four simple categories
Three Key Elements
Focus Structure Discipline
Focus
Four key questions Why are you exhibiting? Who is your target audience? What are your expectations as a result of being at the
event? What is your measure of success?
Focus on Objectives
SMART S – Specific M – Measurable A - Assignable R – Realistic T – Time-related
Measurement Plan
Measure the potential audience Understand the potential audience Identify the strengths and weaknesses of your audience Measure performance against a set of objectives Benchmark from show-to-show to draw comparisons
Structure
What to Measure Measurement Technique
Audience Satisfaction On-site or post-event surveys
Branding effectiveness On-site or post-event surveys
Message effectiveness On-site or post event surveys
Audience behavior On-site or post event surveys
Competition Event competitive audit
Reach / Press Impact Press analysis / impressions
Reach / Audience Quality & Quantity Event demographics
Lead quality / quantity Lead Analysis
ROI – Return on InvestmentROO-Return on Objectives
Outcomes analysis
Hospitalities
Meeting Existing Customers
Hospitality $5,350 (include invitations)
80 customers attended$65.63 per customer attending
Recruiting Dealers/Distributors
• Decide the number of dealers/distributors you
want to recruit• Advertise in trade publications• Mail invitations to a targeted group• Develop a lead card to track specific information• Calculate the cost per recruit
[Total cost of recruiting program/the number of recruits]
Recruiting Dealers/Distributors
Invitations $ 250Advertising 1,950Lead Form 2002 staffers 2,250Total $4,650
7 dealers recruited as a result =$664.29 per dealer recruited
Introducing a New Product
• Determine the target audience you desire
• Advertise in trade and local publications
• Conduct a special mailing/communication to
a targeted group• Develop a tracking system for visitors• Calculate cost per new product introduction
[Total cost of the introductory program divided by the number of visitors who viewed the product introduction]
Introducing a New Product
Audience $ 1,368Advertising 1,950Mailing 737Staff 2,250 $4,937
$3.60 per person
Applying the Measurement Model
Primary Objectives Associated Metric Measurement Tool
Introduce new products Number of demosNumber of leads generated
Daily reporting by staffLead volume by product
Sales / ROI Revenue from SalesROI calculation
Sales lead management systemA “buy” survey / revenue analysis
Discipline
Whatever you decide to do Do it show after show after show!
Post Show Reporting
Potential business opportunities Attendees – quality/quantity Demonstrations – number and feedback Promotions – pre/at/post Competitive intelligence Media Customer feedback Sessions attended Trends observed Recommendations
Trade Shows Work
Plan completelyExecute aggressively & enthusiastically
Follow-up thoroughly