A New Model to Measure Event Impact
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How do you measure event ROI? Three in five marketers don't have an answer to this question. Get the comprehensive guide and interactive workbook to assess your events' performance here: http://info.doubledutch.me/content-event-roi.html This presentation will help you: 1) Measure results that are hard to measure 2) Compare performance from event to event 3) Demonstrate events are a worthwhile investment ...and more! View our on demand webinar recording here (http://info.doubledutch.me/webinar-how-to-measure-event-roi.html), or visit doubledutch.me for more information.
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A New Model to Measure Event Impact
- 1. #eventROI A New Way to Measure Event ROI Event Marketing Resources Presented By: Jennifer Hawkins Director of Marketing
- 2. #eventROI We’ll Cover… Why events matter to marketing How we historically made event decisions A walk through of a new model How technology can help Event Marketing Resources
- 3. #eventROI MY MARKETING BUDGET Events 46% Digital Ads 35% Content 9% PR 5% Operations 2% SEO 2% Customer Marketing 1%
- 4. #eventROI WHAT PERCENTAGE OF YOUR 2014 MARKETING BUDGET WILL BE SPENT ON THE FOLLOWING? Event Marketing 21% Digital Advertising 13% Content Marketing 12% Website 8% Agency Fees 7% Customer Marketing 6% Traditional Advertising 6% PR 5% Other 22% Source: Forrester Research, 2014
- 6. #eventROI HERE’S WHAT WE CONSIDERED Leads generated Revenue generated Event cost
- 7. #eventROI HERE’S WHAT WE CONSIDERED Leads generated Revenue generated Event cost Leads sourced vs influenced Significant value beyond initial deal Spend isn’t is only half of the story (influence matters)
- 8. #eventROI AND WE TALKED ABOUT THE SUBJECTIVE… But we met Marco there, who is now a board member! But our CEO was on stage in front of 1,000 influencers! But we almost closed 2 deals! But we were understaffed because Susan was sick! But people raved about the party! Everyone loved our booth!
- 9. #eventROI 3 PROBLEMS WITH THIS APPROACH 1. Cost data wasn’t fully baked. 2. “Subjective” metrics treated as secondary 3. No comparison between events.
- 10. #eventROI WE NEEDED A NEW MODEL
- 11. #eventROI FIRST, DIVIDE EVENTS INTO BUCKETS
- 12. #eventROI …TO CALCULATE THE TOCE Upfront Costs - Produce: venue + food/bev + hotel + contractors + people cost - Sponsor: sponsor package + booth costs + travel + hotel + people cost
- 13. #eventROI CAPTURE THE “OBJECTIVE” METRICS Objective Metrics (examples): - Revenue generated (ticket sales, sponsors), leads generated, pipeline created
- 14. #eventROI ASSIGN VALUES TO THE “SUBJECTIVE” Subjective Metrics (examples): - Brand presence, attendee satisfaction, product engagement, thought leadership (speaking), advocate activity (referrals, references, etc)
- 15. #eventROI COMBINE TOCE, OBJECTIVE, AND SUBJECTIVE TO EVALUATE EVENT SUCCESS + COMPARE BETWEEN EVENTS
- 16. #eventROI CREATE AGGREGATE SCORES, AND RANK PERFORMANCE
- 17. #eventROI COMPARE EVENT PERFORMANCE OVER TIME Event 2013 2014 Event A 3.33 3.33 Event B 0.33 3.00 Event C 1.00 2.67 Event D 6.49 1.73 Event E 3.67 1.67 Score Thresholds A 3.00 B 1.67 C 1.00 D 0.33
- 18. #eventROI USING THE MODEL IN PRACTICE • A or B? Continue to pursue. • C or D? Reconsider some things. • Reassess the event audience. • Are they really who you want to reach? • Reassess the metrics in your model. • Are you measuring the right things? • What can you do to improve the score? • Spend more? Less? • Staff up? Down?
- 19. #eventROI Even the best models are not perfect.
- 20. #eventROI It’s a problem of data sufficiency.
- 21. #eventROI It is the DoubleDutch vision to help fill in the blanks.
- 22. #eventROI EVOLVING FROM A LEAD LIFECYCLE LIKE THIS… Attended Webinar SDR Calls Downloaded Whitepaper Attended Event Website Visit Requested Demo Opportunity Won
- 23. #eventROI …TO ONE THAT BETTER REPRESENTS EVENT IMPACT SDR Call Rated our product 5 stars in event app Attended Webinar Downloaded Whitepaper Attended Event Ad Retarget Requested Demo Opportunity Won Saw CEO Speak Bookmarked our booth in the app Referred lead through the app
- 24. #eventROI CREATE YOUR MODEL BASED ON YOUR GOALS Customer Events: Renewals & Advocacy Prospecting Events: Pipeline & Closed Won Business Thought Leadership: Media & Brand Impact
- 25. #eventROI THANK YOU! Download the model: ddut.ch/roi Share your feedback: jen@doubledutch.me
Editor's Notes
- Not accounting for the total cost to execute an event (TOCE). “Subjective” metrics treated as secondary to “objective” metrics. No comparison between events.
- One that would account for the
- These numbers only show exactly what happened at the event. What we have chosen What have to make decisions about next years event before we’ve seen the full impact of this year’s event.
- Customer Event: Renewals & Advocacy Prospecting: Generate Pipe & Close Bus Thought Leadership: Media & Brand Impact