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Performance Measurement, ROI and ROO

This article explores the critical processes of performance measurement, ROI (Return on Investment), and ROO (Return on Objectives) for businesses that engage in exhibitions and events. Companies are increasingly required to demonstrate tangible outcomes from their marketing efforts. We delve into how organizations can effectively measure success through established criteria, aligning goals with measurable value, and understanding audience perceptions. Learn to structure successful measurement strategies and improve decision-making processes for future events, maximizing benefits and insights.

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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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