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Metrics Are King! Justifying Event Value In Today's Economy
 

Metrics Are King! Justifying Event Value In Today's Economy

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    Metrics Are King! Justifying Event Value In Today's Economy Metrics Are King! Justifying Event Value In Today's Economy Presentation Transcript

    • Metrics are King! Justifying Event Value in Today’s Economy Roger J. Lewis Executive Vice President, Sales & Marketing
    • E About the Speaker Roger Lewis • 17 years of industry experience • Pioneer of Marketing Intelligence & behavior analytics for our industry • Part of the launch of RFID for events • Inc. 500 and Forbes
    • E In this session we are going to discuss: • Justifying event value • What and how to measure? • The importance of understanding attendee interests and preferences • Ways to increase ROI 3
    • E Budgets? 4
    • E Today’s Do’er is Tomorrow’s Unemployed because if you’re doing what you’re told, you are not doing your job. - Allen Reichard Tactical Abyss 5
    • E The Anatomy of an Event Vendor Surveys Registration Badging Management Attendee Tracking Content / Agenda Lead Capture Exhibit Floor Space Sponsorships Booth 6
    • E What’s the Value of Event Metrics? The real value of event metrics is two fold: 1. To demonstrate your over-all value to the organization. 2. To demonstrate the event’s over-all value to the organization 7
    • E 1st Rule of Metrics Establish clear objectives (Relate objectives to company bottom line wherever possible) 8
    • E 2nd Rule of Metrics Event Type guides objectives & goals 9
    • E Types of Events • Sales kick-off • CPE • User conferences • Partner conferences • Executive • Product launches • Road shows • Exhibit at Tradeshows 10
    • E Common User Conference Objectives • Educate & Increase User Knowledge • Grow Event and User Community • Maintain or Increase attendee satisfaction • Build Brand Loyalty & reinforce Brand Image • Grow Account Revenue 11
    • E 3rd Rule of Metrics Determine the most effective way(s) to measure each objective 12
    • E 3rd Rule of Metrics Educate & Increase User Knowledge Session Survey Assessment 13
    • E 4th Rule of Metrics Determine Success Range and Values 14
    • E 5th Rule of Metrics Understand what is necessary to maximize the success of your objectives 15
    • E What to measure? User Group Event Goal Measurement Category Tools • Session Surveys Educate Attendee Attendee Perception • Assessments • Conference Evals Improve Conference Attendee Perception • RFID Satisfaction Behavioral Metrics • Twitter, nTAG, Networking Spotme, networking events Build & Reinforce Mind Share Brand • Pre & Post Surveys Attendee • Registration Grow Event Financial • Attendee, sponsor, & exhibitor revenue Financial • Lead Retrieval Grow Revenue Behavioral Metrics 16 • RFID
    • E What should I measure? Costs versus Value to the organization • Attendee Perception • Attendee Mind Share • Attendee Behavior • Qualified Leads and Revenue Generation 17
    • E Mindshare 18
    • E Attendee Mind Share • The development of consumer consciousness of a brand or product from awareness to brand loyalty • Key objective for advertising, promotions and events • Measured pre and post event 19
    • E Attendee Mind Share The desired consumer consciousness progression is: Action or Adoption Awareness Perception Basic Change Understanding Increased Knowledge 20
    • E Behavioral Metrics WHAT IS IT ? The measurement of attendee behavior in an event environment 21
    • E Why is it Important? • Enhance event performance & ROI • Understand what is important to your audience • Obtain additional qualified leads • Number 1 Indicator of purchase intent • Increase revenue - Paco Underhill 22
    • E What is RFID ? • RFID = Radio Frequency Identification • Readers with antennas transmit & receive radio waves • Technology that has been around since WW II • Used every day on Toll Roads • Small Tag on event badge
    • E 1. Session Reporting • Understand attendee interests • Session Attendance • Duration in the session • Real-time information • Repeat popular sessions & plan for next year
    • E Attendance Reports 25
    • E Visual Mapping of Sessions
    • E 2. CEU / CPE Tracking • Regulatory organizations such as NASBA & ARRT are auditing for proof of class attendance • Verify duration in a class (50 minutes for every hour) • Sign-in sheets are not passing audits
    • E 3. Exhibit Floor Analysis • Time on show floor • Traffic patterns • Attendee demographics
    • E 4. Exhibit Booth • Stations are positioned near product areas • Understand booth visits and duration • Integrate lead and visitor information • Revenue Generator
    • E How do you measure this environment? 30
    • E Your Booth & Your Products 31
    • E Focus on your target buyer 32
    • E Measure Customer Interest Level by Product 33
    • E Client Notifications Smart Notification – Sample Message Date: Wed, 28 Nov 2007 17:02:53 -0500 To:john.doe@alliancetech.com Subject:JOHNS HOPKINS MEDICINE in booth location MRI This notification was generated by the SmartNotification system. An organization identified on your prospect list has been detected in your booth. Company: JOHNS HOPKINS MEDICINE Title: CHAIRMAN, DEPT. OF RADIOLOGY Exhibitor: GE Healthcare - RSNA07 Location: MDx Date/Time: Nov 28, 2007 01:31:09 PM 34
    • E Reporting Visitor Information Real-Time 35
    • E Our Objectives & Metrics User Group Event Goal Measurement Category Tools • Session Surveys Educate Attendee Attendee Perception • Assessments • Conference Evals Improve Conference Attendee Perception • RFID Satisfaction Behavioral Metrics • Twitter, nTAG, Networking Spotme, networking events Build & Reinforce Mind Share Brand • Pre & Post Surveys Attendee • Registration Grow Event Financial • Attendee, sponsor, & exhibitor revenue Financial • Lead Retrieval Grow Revenue Behavioral Metrics 36 • RFID
    • E Seeing the Opportunities
    • Reporting E 38
    • E Revenue Predictability • Lead priority determined by Revenue Predictability Score (RPS) • Calculation based upon attendee role, consumption of event, and lead qualification 39
    • E Seven Steps
    • E 1: Define clear, measureable objectives that produce value. 7: Communicate 2: Identify the results and most effective recommendations way to measure both up and each objective. down. 6: Review results, 3: Determine formulate success range recommendations. and value. 5: Collect and 4: Obtain tools, analyze event technology, data. expertise to collect, analyze, identify, report.
    • E ROI
    • E Four ways to increase event ROI 1. Clearly understand event objectives & value to the organization  Goals  Relate to the bottom line  Best ways to measure  Success Range
    • E Four ways to increase event ROI 2. Quantitative Results  Year-to-year metrics  Justify budgets and expense  In a tough economy, analytics help make bad times better  Speak the language of a CMO
    • E Four ways to increase event ROI 3. Visual Mapping and Real-time Information  “Touch and Feel” the heart beat of your event in real-time  Real-time Decision Making  Onsite changes to impact ROI
    • E Four ways to increase event ROI 4. Behavioral Metrics and Attendee Journey  #1 Indicator purchase intent  Increase Revenue  Improve attendee satisfaction  Significant impact to ROI
    • E Summary Vendor Surveys Registration Badging Management Attendee Tracking Content / Agenda Lead Capture Exhibit Floor Space Sponsorships Booth 47
    • E
    • E 49
    • E THANK YOU Roger J. Lewis roger.lewis@alliancetech.com 50