Any true quantitative approach requires a large collection of relevant data points which can then be leveraged strategically and potentially statistically in order to create actionable insights. In the case of event marketing, a strategic approach is required. Data must be collected from numerous sources across many events throughout the year and beyond in order for it to be actionable. These data points should come from a combination of sources: Pre-Post Surveys The most obvious is the event survey. If the survey questions are structured strategically, they can be used to collect important quantitative data. Questions that measure brand health, recall, purchase intent, attitudes and impact can be merged with other data sets to create an actionable database. RFID Tracking/Check-in RFID codes as well as check in points can quantify attendees at certain areas of an event. Other tracking tools such as multi environment tracking in Google Universal Analytics (in which you map offline actions into various Google Analytic fields) can also be implemented. The task of introducing and implementing RFID codes and Google Universal Analytics for offline events is not easy and can be expensive, but the data may be invaluable. Social Media and Web Analytics Measuring social media and web metrics such as 'likes'?, 'follows'?, 'shares'? and 'retweets'? as well as website traffic, bounce rates, content popularity and online download rates are a quick and effective way to quantify things such as lift and increased engagement, potentially attributed to the event activation. Data Analysis Once data from the actual event is collected, quantitative researchers can then layer on data from other sources, such as website and sales data, to begin to determine relationships through attribution and predictive modeling techniques. Depending on the validity and robustness of the data set, researchers can use these advanced statistical concepts to not only determine that an event was successful in terms of its impact on sales but also how each part of that event contributed to that success. This information can then be used to optimize future events. Stayed tuned for part 3 of the series on event measurement tips and tricks, in which we will discuss a tactical approach to obtaining qualitative insights from your brand's event.
We can all agree that with the planning, logistics and costs that go into executing a brand event, it's essential that you have a measurement strategy in place to help gauge the success and effectiveness of your event marketing efforts. That said, measuring events can often be a complicated assignment when trying to determine just what to measure and how best to measure it. Don't fret though, there are a few best practices you can follow to help in the development of your measurement strategy to ultimately provide you with the metrics and insights you need to accurately evaluate your event. Define your objectives Since there is no industry "standard" on what indices should be measured at an event and different types of events support different objectives, it's up to you to develop a measurement plan that accurately assesses the success of your unique event. The first step to developing this plan is defining the objectives and key performance indicators (KPIs). For example, if one of your objectives is to raise awareness for a product, KPIs may include product trial rate, number of impressions generated and increased product awareness metrics. Additionally if another one of your objectives is to increase brand affinity, your KPIs may include delivering a 'memorable experience'? and establishing a trending topic on social media, all of which can be measured through a variety of methods. Objectives and KPIs can be fairly straightforward, but you will want to include all key stakeholders in establishing them. It's important to have everyone involved and in agreement with the objectives before you can begin to build out a measurement strategy. Gaining alignment will help eliminate any misunderstanding of the purpose of the event ahead of time. Develop tactics to effectively measure success against each objective Now that you know what success looks like, you can effectively develop a measurement plan to evaluate your marketing efforts. At AMP, we measure our events on both a quantitative and qualitative basis. Within these two options are multiple tactics. In our next two blog posts, we will discuss a few tactics to consider when developing a measurement plan. Keep in mind that there is not one 'correct'? method to measure against your event objectives, only methods that will give you actionable information that you can continue to plan against. What are some of the objectives you have for your next event?