So, you’ve set a clear and measurable goal for your event or conference and have established the metrics that matter. You’ve got service providers to analyze your email marketing campaigns and social media efforts. Here is a rundown of additional measurement tools to deploy, some off-the-shelf, some proprietary, some tried and true, and some new ones as well.
1.) Surveys. Pre-, post- and during an event, good ol’ surveys remain the tool of choice among most marketers, whether they implement them online, via email, mobile apps or an event platform. Digital-age marketers now have the back-end technology to slice, dice and interpret that data, then transform it into actionable strategies to improve their event ROI. Web-based software tools such as Surveygizmo create online surveys, analyze the data, then integrate it with external enterprise software so marketers can measure event performance.
2.) Websites and Microsites. At the center of online marketing activities, websites and microsites are a treasure trove of information. Google Analytics can measure the impact of onsite communications, track visitors and engagement.
3.) Marketing Automation Platforms. Storing and analyzing data, then nurturing leads through the sales funnel is a complex process, so professional marketing analysts and strategists rely on these platforms to automate the process, track sales potential and actual sales value. Eloqua and Marketo are two of the industry leaders.
4.) Net Promoter Score. By asking consumers one simple question—whether they would recommend a particular product or company to friends or colleagues—brands can calculate their NPS. The calculation is pretty straightforward: subtract the percentage of detractors from the percentage of promoters to reach the score. NPS also can help marketers determine which events create more fans and detractors. By studying NPS scores from events during a recent program for Nokia’s Windows phone, Nokia learned which events had to work better during which day part, which day of the week and which month. “We were able to hit some really good insights in terms of better execution,” says Brian Garino, svp North American analytics at Geometry Global, which handled.
5.) Predictive Analytics. This data mining technology, typically a b-to-b measurement, helps marketers predict behavior. Experiential agency eshots, however, is using predictive analytics to model and score consumers in the automotive sector to determine how quickly they will buy based on when their lease expires, the type of car in their garage, household income and other factors.
6.) Benchmarking. Comparing business processes and performance metrics is a management tool that is applicable to event marketers as well. eshots, which last year captured information from millions of households and data registrants in the automotive category, has created a benchmarking model for the event industry that measures how productive one campaign is versus another executed in the same event space. Similar to the Harbor Report, which analyzes plant productivity across the auto industry, this information lets marketers know where they stand and whether adjustments to their event strategy are necessary. Benchmarking studies, along with third-party data analysis and consumer scoring are part of eShot’s advanced analytics tool, which focuses on targeting the right people for the right events.
7.) Strategic Meetings Management Tools. SMS tools consolidate in one central location all the information related to a meeting or conference, including online registration, event website management, session scheduling, budgeting, sourcing, social media, survey tools and more. An example: Active Networks’ technology suite, which includes Active Conference for complex events such as Adobe Summit, Macworld and Cisco Live; Active RegOnline, an attendee management solution; and Active StarCite, which supports the management of hundreds and thousands of meetings that take place across an organization each year, including budgets, venue sourcing and more. Through the Active Conference tool, attendees receive a personalized, individual experience and conference organizers gain valuable intelligence on attendees which is fed into its CRM system.
8.) The HBS Toolkit. This is a downloadable interactive workbook used by Harvard Business School students to estimate the cost of acquiring a customer and the Net Present Value (NPV) of that customer’s business during his or her economic life. It comes in two models, a simple one that looks at a single product, and a more complex one that examines multiple products with distinct customer loyalty and re-purchase characteristics.
9.) Precision Activation. This is an approach deployed at Geometry Global to develop marketing programs, determine their success criteria, think through the change states that will have to happen to drive that success and conduct simulation tests before the actual activation. It utilizes historical benchmarks and proven event marketing models then looks at the sales funnel and what changes need to occur to simulate the highest probability of conversion.
10.) RFID/NFC/BLE. The little microchips and Bluetooth connections do everything from collect highway tolls to verify passports, and when embedded in consumer badges and trade show lanyards can track attendee behavior in real time, providing business intelligence for follow-up by marketing and sales teams. At this year’s Super Bowl Boulevard in New York, hundreds of thousands of consumers interacted with brand experiences across 13 blocks using a single RFID badge (via FISH Technologies).
The 2014 Event Measurement Report