Mix It Up Metrics

Cindy McCormick, CTSM, MS
    Holly Stevens, MBA
   Margaret Crowley, BA
• The opinions expressed in this presentation represent only the
  presenters' personal views and opinions, and do not rep...
Introductions
• Cindy McCormick
• Holly Stevens
• Margaret Crowley
Key Learning's
• Understand what types of metrics are
  quantitative and which are qualitative.
• Understand how the two t...
Why Measure?


• “If you can measure it,
  you can manage it”
           » Tom Watson, IBM
Why Measure?
• Determine ROI and ROO

• Allocate dollars more effectively

• Demonstrate results / Quantify Value

• Conti...
Types of Measurement
• Quantitative
  –   Using data to generalize results from a sample
  –   Deals with numbers, percent...
Types of Measurement
• Qualitative
  –   Interpretive
  –   Subject to Analysis
  –   Exploratory
  –   Subjective
  –   D...
What Can Be Measured at a
Convention?
• In-Booth                     • Out of Booth
  –   Compliance                 – Com...
What can be Learned by
Measuring
•   Awareness
•   Memorability
•   Perception
•   Visitor Demographics
•   Behavior Chang...
Why Mix-It-Up?
• Gives a more in-depth and diverse
  understanding of outcomes
• Yields insights that neither approach
  w...
Product Lifecycles & How They
Change What you Measure
Pre-Launch                 Launch
• Positioning              • Aware...
Product Lifecycles & How They
Change What you Measure
Growth                     Maturity
• Message/Reinforcement    • Mai...
Case Study 1:
Launch of “MELTOMED”
“MELTOMED” Launch
Key Points
 • Meltomed is a first-to-market, new in class
   treatment for Weight Loss

 • Brand Goal: B...
“Meltomed” at Conventions
• Brand Tactic - Conventions
   – Exhibit at convention, 2 months post launch

• Challenge
   – ...
“Meltomed” Exhibit Booth Tactics

 • Interactive Detailing with Survey
   Questions
 • In-Booth Theater with Audience Resp...
Measurement of Exhibit Tactics

Tactic                        Metrics                                 Measurement Type
Int...
Interactive Detailing –
Segmentation Metric



       Who treats ___ patients per month for obesity
Interactive Detailing –
# Presentations Metric
Interactive Detailing
      Time targets spent on each product message


               Reductions from
                  ...
Exit Interview:
Increased Awareness
      Percent of Visitors whose awareness of Meltomed was
       Percent of Visitors w...
Exit Interview:
Learned Something New
        Learned Something New
                n=103



      68%

                  ...
Exit Interview:
Inclination to Prescribe
                  Inclination to Prescribe Nikomed
                 Inclination t...
Exit Interview: Most Highly Valued
vs. Most Highly Visited
Ranking   Most Highly   Weighted   Most Highly   Per
          ...
Theater Results
  Saturday                Sunday                 Monday                 Tues
               Dr. Red       ...
Post-Event ROI Analysis
                          Custom Rx Lift Analysis via IMS’ Alliance Program




                  ...
Conclusion

• The MELTOMED
  exhibit helped to
  increase awareness
             SUCCESS!
  & raise sales
Were the Objectives Reached?
• Brand Objectives:
  – Increase awareness of “Meltomed” to target
    audience by at least 7...
Contact Us Anytime!
• cindyamccormick@gmail.com
• mcrowley@oneworldinc.com
• holly@marketech360.com
See you next year in
  Las Vegas, NV
 June 25-28, 2011
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2010 Healthcare Exhibitors Association Annual Meeting: Mix-it-up Metricsl

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This presentation will debunk the myth that there is only one way to measure convention performance.

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2010 Healthcare Exhibitors Association Annual Meeting: Mix-it-up Metricsl

  1. 1. Mix It Up Metrics Cindy McCormick, CTSM, MS Holly Stevens, MBA Margaret Crowley, BA
  2. 2. • The opinions expressed in this presentation represent only the presenters' personal views and opinions, and do not represent HCEA's position. • HCEA wants to ensure that attendees who participate in HCEA meetings feel comfortable speaking freely and asking candid questions during HCEA meeting sessions. Therefore, HCEA requires that any media representative attending an HCEA event obtain the permission of any speaker or attendee before quoting that person in an article.
  3. 3. Introductions • Cindy McCormick • Holly Stevens • Margaret Crowley
  4. 4. Key Learning's • Understand what types of metrics are quantitative and which are qualitative. • Understand how the two types work together to provide a complete picture of an exhibitor’s performance. • Take home examples of metrics that can be applied to an individual member’s convention exhibits and events.
  5. 5. Why Measure? • “If you can measure it, you can manage it” » Tom Watson, IBM
  6. 6. Why Measure? • Determine ROI and ROO • Allocate dollars more effectively • Demonstrate results / Quantify Value • Continuous improvement • Make more informed decisions
  7. 7. Types of Measurement • Quantitative – Using data to generalize results from a sample – Deals with numbers, percentages – Based on Facts – Objective – Deductive – “Hard” – Structured & Precise • Instruments Normally used – Scales, tests, surveys, computer questionnaires
  8. 8. Types of Measurement • Qualitative – Interpretive – Subject to Analysis – Exploratory – Subjective – Descriptive/Expansive – Observational – Open-Ended – Explores attitudes, behaviors, experiences • Instruments Normally Used – Interviews, observations, focus-groups
  9. 9. What Can Be Measured at a Convention? • In-Booth • Out of Booth – Compliance – Competitor Impact – Booth Traffic – Other promotional – Flow Through activities – Qualified contacts – Message retention – Audience quality – Buying plans/interest – Staff effectiveness – Effectiveness of booth promotions
  10. 10. What can be Learned by Measuring • Awareness • Memorability • Perception • Visitor Demographics • Behavior Change • Visitor Quality • Competitor Impact • Impact of Exhibit Activities
  11. 11. Why Mix-It-Up? • Gives a more in-depth and diverse understanding of outcomes • Yields insights that neither approach would produce on its own • One piece can “back-up” the other • Different pieces of data will resonate with different stakeholders • Different pieces of data will satisfy different objectives
  12. 12. Product Lifecycles & How They Change What you Measure Pre-Launch Launch • Positioning • Awareness Building • Awareness building • Image Building • Segmentation • Trial • Understanding customer • Creating Therapy/Brand language Choice • Establish Relevant Points of Differentiation
  13. 13. Product Lifecycles & How They Change What you Measure Growth Maturity • Message/Reinforcement • Maintain Market Share • Customer Satisfaction • Improve Compliance • Therapy/Brand Choice • Value added • Build Usage Compliance Promotions/Programs • Promotion • Retain Current Customers
  14. 14. Case Study 1: Launch of “MELTOMED”
  15. 15. “MELTOMED” Launch Key Points • Meltomed is a first-to-market, new in class treatment for Weight Loss • Brand Goal: Become the #1 Prescribed Treatment for Weight Loss • Brand Objectives: – Increase awareness of “Meltomed” to target audience by at least 75% – Increase sales by 10% each quarter
  16. 16. “Meltomed” at Conventions • Brand Tactic - Conventions – Exhibit at convention, 2 months post launch • Challenge – Develop convention objectives/tactics that support brand objectives – Measure performance of each exhibit tactic against convention objectives set • Convention Objectives That Support Brand Objectives – Show at least a 40% increase in inclination to prescribe after being booth experience – Teach at least 55% of hcps visiting the exhibit something new by driving them through all 3 exhibit activities – Show an increase in booth visitor script writing post-convention
  17. 17. “Meltomed” Exhibit Booth Tactics • Interactive Detailing with Survey Questions • In-Booth Theater with Audience Response • Resource Center (literature/slide kit downloads) • Hospitality • Medically Relevant Give-Away Item • Exit Interview / Booth Experience Survey
  18. 18. Measurement of Exhibit Tactics Tactic Metrics Measurement Type Interactive Detailing Overall # of Presentations Quantitative Visitor Segmentation Quantitative % Time Given to Each Product Message Quantitative Exit Interview % Awareness Increase Quantitative/Qualitative Awareness (Open-Ended Question) Qualitative % Customers who Learned Something New Quantitative/Qualitative % Intentions to Increase Prescribing Qualitative Opinions on Each Booth Activity Qualitative In-Booth Theater # People Attending Each Presentation Quantitative Visitor Segmentation Quantitative Answers to Audience Response Quantitative/Qualitative Resource Center # Items Distributed Quantitative Visitor Segmentation Quantitative Hospitality # Items Distributed Quantitative Visitor Segmentation Quantitative Medically Relevant Giveaway # Items Distributed Quantitative
  19. 19. Interactive Detailing – Segmentation Metric Who treats ___ patients per month for obesity
  20. 20. Interactive Detailing – # Presentations Metric
  21. 21. Interactive Detailing Time targets spent on each product message Reductions from 21% baseline Patients responding 20% by dose Effective in 18% combination Significant heart rate 16% reductions Low incidence of 12% side effects Mechanism of action 8% Summary 5% 0% 5% 10% 15% 20% 25%
  22. 22. Exit Interview: Increased Awareness Percent of Visitors whose awareness of Meltomed was Percent of Visitors whose awareness of Nikomed increased as a result of the booth visit booth visit was increased as a result of the 80% 75% 70% 60% 50% 40% 25% 30% 20% 10% 0% Yes No
  23. 23. Exit Interview: Learned Something New Learned Something New n=103 68% 32% Yes No
  24. 24. Exit Interview: Inclination to Prescribe Inclination to Prescribe Nikomed Inclination to Prescribe Meltomed n=104 38% 38% 22% 2% More inclined Inclined about the same Less inclined Not applicable
  25. 25. Exit Interview: Most Highly Valued vs. Most Highly Visited Ranking Most Highly Weighted Most Highly Per rated Average Visited Saw/Visited 1 Book 3.90 E-detail 70% Giveaway 2 Resource 3.85 Book 55% Center Giveaway 3 E-Detail 3.79 Theatre 45% 4 Theater 3.73 Resource 33% Center 4 Hospitality 3.55 Hospitality 25%
  26. 26. Theater Results Saturday Sunday Monday Tues Dr. Red Dr. Brown Dr. Brown Dr. Gray (11)21 (41)57 (34)48 16 Dr. Blue Dr. Orange Dr. Red Dr. Violet (21)35 (45)53 (12)23 23 Dr. Yellow Dr. Black Dr. Yellow Dr. White (37)40 (23)32 (27)36 26 Dr. Green Dr. Orange Dr. Blue Dr. Pink (11)26 (33)50 (9)9 22 Dr. Black Dr. Violet Dr. Violet (14)18 (18)29 (10)17 Dr. Gray Dr. White Dr. Green (22)36 (41)50 (18)27 Dr. Green Dr. Pink (30)35 (20)24 211 295 160 87 753 attendees participated in the theatre Cost per attendee participating: $111.12
  27. 27. Post-Event ROI Analysis Custom Rx Lift Analysis via IMS’ Alliance Program Booth Visitors Control Physicians 300 250 200 150 100 50 Convention Date -11 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12 Weeks (after Convention) * Difference is statistically significant: p-value < 0.01 n (all) = 1,456 n (targets) = 793
  28. 28. Conclusion • The MELTOMED exhibit helped to increase awareness SUCCESS! & raise sales
  29. 29. Were the Objectives Reached? • Brand Objectives: – Increase awareness of “Meltomed” to target audience by at least 75% – Increase sales by 10% each quarter • Objectives Obtained – Meltomed sales increased 50% by year end – Awareness was increased 80% (via fup market research study)
  30. 30. Contact Us Anytime! • cindyamccormick@gmail.com • mcrowley@oneworldinc.com • holly@marketech360.com
  31. 31. See you next year in Las Vegas, NV June 25-28, 2011
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