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Performance Measurement, ROI and ROO

Performance Measurement, ROI and ROO. Marc L. Goldberg, CME marketech360. Performance Measurement. A process by which businesses, governments and organizations establish criteria for determining the quality of their activities based on goals and objectives. Measurable Value.

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Performance Measurement, ROI and ROO

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  1. Performance Measurement, ROI and ROO Marc L. Goldberg, CME marketech360

  2. Performance Measurement • A process by which businesses, governments and organizations establish criteria for determining the quality of their activities based on goals and objectives

  3. Measurable Value • Execs are asking more from meetings and events that simply accomplishing objectives. It must prove its worth in hard dollars and cents. • Execs want better ways to measure how they spend their marketing dollars.

  4. What’s the difference between ROI and ROO • ROI Exhibiting investment = ROI Return generated $25,000 = .33 or $3.00 for every $1.00 $75,000

  5. ROI vs. ROO In order to calculate ROI, you need to be able to track sales from captured leads

  6. ROI vs. ROO • Measurement of benefit an exhibit company receives for participation at an exhibition by comparing pre-set objectives to show success

  7. ROI vs. ROO • Increase brand awareness • Increased brand awareness by 20% • Increase brand awareness • 35% of those surveyed were more aware of your brand and its values • More proactive staff • 73% of attendees indicated they were engaged • Attendees learning something new • 53% of attendees learned something new when visiting your exhibit

  8. What to measure – four simple categories ROI calculations identify the return on investment supporting the understanding of the value of the event marketing in the overall mix Calculation of total lead $$’s generated compared with investment in the event. ROI Sales vs. Cost Number of A,B,C leads and $ value associated with each Business Results identify the Value events contribute to the Client’s mission and goals Business Results Leads/ Lead $ Value Marketing impact identifies the effect of the event Effect of the Event on the Attendee’ s Perception & planned behavior Learning/Marketing Impact Perception & Behavior Change Quality of the event, total attendance, cost per, Portfolio Continuous improvement Diagnostics Satisfaction / Reach & Share of Voice / Management / Alignment

  9. Three Key Elements • Focus • Structure • Discipline

  10. Focus • Four key questions • Why are you exhibiting? • Who is your target audience? • What are your expectations as a result of being at the event? • What is your measure of success?

  11. Focus on Objectives • SMART • S – Specific • M – Measurable • A - Assignable • R – Realistic • T – Time-related

  12. Measurement Plan • Measure the potential audience • Understand the potential audience • Identify the strengths and weaknesses of your audience • Measure performance against a set of objectives • Benchmark from show-to-show to draw comparisons

  13. Structure

  14. Hospitalities

  15. Meeting Existing Customers Hospitality $5,350 (include invitations) 80 customers attended $65.63 per customer attending

  16. Recruiting Dealers/Distributors • Decide the number of dealers/distributors you • want to recruit • Advertise in trade publications • Mail invitations to a targeted group • Develop a lead card to track specific • information • Calculate the cost per recruit • [Total cost of recruiting program/the number of recruits]

  17. Recruiting Dealers/Distributors Invitations $ 250 Advertising 1,950 Lead Form 200 2 staffers 2,250 Total $4,650 7 dealers recruited as a result = $664.29 per dealer recruited

  18. Introducing a New Product • Determine the target audience you desire • Advertise in trade and local publications • Conduct a special mailing/communication to • a targeted group • Develop a tracking system for visitors • Calculate cost per new product introduction • [Total cost of the introductory program divided by the number of visitors who viewed the product introduction]

  19. Introducing a New Product Audience $ 1,368 Advertising 1,950 Mailing 737 Staff 2,250 $4,937 $3.60 per person

  20. Applying the Measurement Model

  21. Discipline • Whatever you decide to do • Do it show after show after show!

  22. Post Show Reporting • Potential business opportunities • Attendees – quality/quantity • Demonstrations – number and feedback • Promotions – pre/at/post • Competitive intelligence • Media • Customer feedback • Sessions attended • Trends observed • Recommendations

  23. Trade Shows Work Plan completely Execute aggressively & enthusiastically Follow-up thoroughly

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