Event Measurement
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The document outlines a six-step process for measuring the return on investment (ROI) of events, emphasizing the importance of setting clear objectives, determining parameters, defining metrics, agreeing on benchmarks, selecting methodologies, and analyzing results. It discusses various types of metrics, including activity and outcome metrics, and offers practical advice for marketers. The document is aimed at helping businesses enhance customer relationships and improve sales leads through effective measurement strategies.
Event Measurement
- 1. Measurement Hour August 24th, 2016 Katie Delahaye Paine, CEO Paine Publishing www.painepublishing.com | @queenofmetrics | measurementqueen@gmail.com Measurement of Events
- 2. How to Calculate ROI Option 1. Cost Efficiency Cost per minute spent with prospect Option 2. Future Cost Avoidance Option 3. Increase Customer Value 2
- 3. The Six Steps Step 6: Analyze results & draw conclusions Step 5: Select a methodology Step 4: Agree upon benchmark Step 3: Define metrics Step 2: Determine parameters Step 1: Agree upon objectives 3
- 4. Step 1: Agree Upon Objectives Make sure they are SMART Typical objectives: Generate qualified sales leads Introduce a new product or strategy to the marketplace Position CEO or other member of the leadership team as an subject matter or industry expert Increase brand awareness, consideration, or preference Increase time spent with key customers or prospects Increase trust, build relationships Build customer loyalty, knowledge/awareness of product, and increase adoption 4
- 5. Step 2: Determine Parameters Target audience? Budget? Timing? Key messages? Competitors? Logistics? 5
- 6. Step 3: Define Metrics Activity Metrics : Share of desirable voice Share of leadership positioning Share of desirable visuals Share of # % of visitors that were qualified %of invitees that participate Outcome Metrics: % increase in qualified leads % reduction in cost per minute spent with prospect % increase in future value of contacts % increase in trust 6
- 7. Step 4: Agree Upon a Benchmark Other events/shows? Other marketing activities? Last year’s event? The competition? 7
- 8. Step 5: Select a Methodology Media monitoring/social listening Pre/post surveys On-site surveys Digital/social analytics CRM 8
- 9. Step 6: Analyze Results & Draw Conclusions What worked, what didn’t? Engagement vs. Resource Use: 9
- 10. Thank You! Click here to explore the newest articles from The Measurement Advisor Reminder: As a paid subscriber you have 24/7 access to all of TMA’s articles…just visit TMA’s homepage! Follow me on Twitter: @queenofmetrics Follow Paine Publishing on Facebook and LinkedIn 10 10 Special thanks to Montclair State University's Graduate Program for sponsoring this month's Measurement Hour!