a new model to measure event impact
TRANSCRIPT
#eventROI
A New Way to Measure Event ROIEvent Marketing Resources
Presented By:
Jennifer HawkinsDirector of Marketing
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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
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MY MARKETING BUDGET
Events46%
Digital Ads35%
Content9%
PR5%
Operations2%
SEO2%
Customer Marketing1%
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WHAT PERCENTAGE OF YOUR 2014 MARKETING BUDGET WILL BE SPENT ON THE FOLLOWING?
Event Marketing20%
Digital Advertising13%
Content Marketing12%
Website8%
Agency Fees7%
Customer Marketing6%
Traditional Advertising6%
PR5%
Other21%
Source: Forrester Research, 2014
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MAKING DECISIONS HISTORICALLY
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HERE’S WHAT WE CONSIDERED
Leads generated
Revenue generated
Event cost
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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)
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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!
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3 PROBLEMS WITH THIS APPROACH
1. Cost data wasn’t fully baked.
2. “Subjective” metrics treated as secondary
3. No comparison between events.
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WE NEEDED A NEW MODEL
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FIRST, DIVIDE EVENTS INTO BUCKETS
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…TO CALCULATE THE TOCE
Upfront Costs- Produce: venue + food/bev + hotel + contractors + people cost- Sponsor: sponsor package + booth costs + travel + hotel + people
cost
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CAPTURE THE “OBJECTIVE” METRICS
Objective Metrics (examples):- Revenue generated (ticket sales, sponsors), leads generated, pipeline
created
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ASSIGN VALUES TO THE “SUBJECTIVE”
Subjective Metrics (examples):- Brand presence, attendee satisfaction, product engagement, thought
leadership (speaking), advocate activity (referrals, references, etc)
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COMBINE TOCE, OBJECTIVE, AND SUBJECTIVE TO EVALUATE EVENT SUCCESS + COMPARE BETWEEN EVENTS
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CREATE AGGREGATE SCORES, AND RANK PERFORMANCE
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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 ThresholdsA 3.00B 1.67C 1.00D 0.33
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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?
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Even the best models
are not perfect.
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It’s a problem of
data sufficiency.
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It is the DoubleDutch vision to help fill in the blanks.
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EVOLVING FROM A LEAD LIFECYCLE LIKE THIS…
Attended Webinar SDR
Calls
Downloaded Whitepaper Attended
Event
Website Visit
Requested Demo
Opportunity Won
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…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
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CREATE YOUR MODEL BASED ON YOUR GOALS
Customer Events: Renewals & Advocacy
Prospecting Events: Pipeline & Closed Won Business
Thought Leadership: Media & Brand Impact
