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The New Event Metrics: Redefining Exhibitor ROI Moderator: Danica Tormohlen, Editor-in-Chief, EXPO Skip Cox, President, Exhibit Surveys Mary Upton, Vice President, Trade Show Operations, ASI Shows. 3 rd ANNUAL TRADE SHOW SUMMIT. Trade Show Summit is sponsored by:.
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The New Event Metrics: Redefining Exhibitor ROIModerator: Danica Tormohlen, Editor-in-Chief, EXPOSkip Cox, President, Exhibit SurveysMary Upton, Vice President, Trade Show Operations, ASI Shows 3rd ANNUAL TRADE SHOW SUMMIT Trade Show Summit is sponsored by:
The New Event Metrics: Redefining Exhibitor ROIPresented by Skip CoxExhibit Surveys, Inc.skip@exhibitsurveys.com732 741 3170
Macro Outlook Positive CEIR Index 2006 • NSF +3.8% • Attendance + 4.6% • Revenue +9.7% US Economy • GDP +3.4% ’06 • Projected +2.5% – 3% ’07, but uncertainty ahead Source: CEIR Index 2007 Edition;
Macro Outlook Positive ABM April 10, 2007 Release • “Face-to-face revenue has surpassed print ad sales for the first time in the history of the industry” (36% share vs 35% for ad revenue) Exhibitor Magazine Reader Survey December 2006 • 2007 Budgets: 30% up / 17% down / 52% same Sources: American Business Media; Exhibitor Magazine Survey of 600+ readers, December 2006
Top Issues for Anchor Exhibitors • Competition for marketing budget • Integration of events in the marketing mix • Cost-cutting pressures (increased involvement of procurement, quarterly budgets) • Demand generation is strategic focus (feed the sales pipeline) • Accountability/ROI Measurement (prove it or lose it)
Why Anchor Exhibitors Measure? • Measure ROO/ROI to justify budgets • Provide decision-support information • Show selection • Show investment • Integration / fit in marketing mix • Strategic planning (show objectives, show strategy) • Tactics • Identify strengths and weaknesses to improve performance
HP Global Performance Measurement • Measured over 300 shows and events in 06 • Comprehensive and consistent measurement Define Event Strategy DevelopBusiness Objectives Complete the EngagementProcess Event Execution and Data Collection Process Report Plan vs. Actual (OV GPMP) Performance Results Database(Decision support data)
Small/Medium Exhibitor Measurement • Why they measure? • Should we exhibit again and at what level? • How they measure? • Number and quality of leads generated (much less about awareness, image building, branding, etc.) • Some track leads to sales, at least informally • Mostly Perceptions based on floor traffic, location, quality of audience, etc.
Measuring Potential for ROI • Organizer responsibility: • Attendance Audits • Attendee Research • Registration demographics • Industry/market research • New Audit/Survey Tool – “Event Insights” • New web-based tools for pre-event planning and measurement (IAEE ROI Task Force) – Primarily for Small Medium Exhibitors
Measuring Individual Exhibitor ROI • Traditionally, responsibility of exhibitor • Role organizer can play in measuring • Invest in measuring ROI of anchor exhibitors (e.g., Interop, IFT) • Consult with small/medium exhibitors using lead data captured by reg contractor • New web-based tools for pre-event planning and measurement • Opportunity to sell/upsell space and other revenue generating products/services
Event Insights • Third-party audit of attendance • Attendance certification • Registration demographics • Sound basis for extrapolating attendee data • Third-party attendee survey • Audience quality and buying power • Audience activity (e.g., history of attendance, time spent on floor, Traffic Density) • Attendee expectations and satisfaction • Attendance promotion evaluation • Evaluate specific aspects of show
New Web-based ROI Tools • Pre-event planning tools to optimize ROI • Size of Potential Audience estimator • Number of exhibit staff estimator • Exhibit space estimator • Post-event measurement tools • Reach • Staff performance • ROI potential estimator • Base tools on reliable (preferably audited) data for realistic and credible results
New Event Engagement Protocol - ARF Exhibit Engagement Accelerates the Sales Process (Preliminary Findings) Next Step: Validate Sales Conversion Source: Exhibit Surveys, Inc. and Gallup & Robinson for Advertising Research Foundation
Less Face to Face Interaction Staff Interaction Rate (SIR)(Personal Contact Achieved With Prospects Attracted) SIR Industrial 55% Medical 62% Retail 54% Hi Tech 50% Source: Exhibit Surveys, Inc.
Corporate Events Deliver Higher Value • More time spent • Solve problems • Targeted to needs • Mostly customers % Very/Extremely Valuable Source: Exhibit Surveys, Inc. (Measurement of 292 exhibits and 56 events for major IT companies – 2004 to 2006)
Corporate Events Deliver More Impact Mostly Customers Source: Exhibit Surveys, Inc. (Measurement of 292 exhibits and 56 events for major IT companies – 2004 to 2006)
Implications to Organizers • ROI/ROO of exhibits compares very favorably to other media • Experiential marketing in general will grow in importance • Private corporate events could be biggest competitor for marketing budgets • Differentiate exhibitions from events • Forum to compete • Reach new prospects/gain market share
Implications to Organizers • Partner with exhibitors – accommodate differing needs • Leverage their investment (not only floor space) • Co-locate events (back to back) • Produce their events (offer them new prospects) • 21% of organizers produce events for exhibitors* * Source: EXPO Magazine Marketwatch, May 2006 (conducted by Exhibit Surveys, Inc.)
Implications to Organizers • More companies measuring, but not enough or not effectively – help exhibitors measure • Exhibitions need a standard measurement protocol • Demonstrate results, not just potential for ROI • Promote exhibitions as accelerating the sales process and feeding the pipeline • Drive home the message
The New Event Metrics – Redefining Exhibitor ROI The ASI Show Planning Guide Attendee Demographics: ● Annual sales numbers ● Geographic statistics ● Attendee breakdown (i.e., % of buyers, owners, salespeople) ● Attendee comparisons to other industry shows
The New Event Metrics – Redefining Exhibitor ROI The ASI Show Marketing Opportunities ● Exhibitors who send a pre-show mailing receive 14% more leads ● Passport exhibitors receive 65% more leads ● Show Daily advertisers receive 35% more leads ● Show Directory advertisers receive 29% more leads ● Show sponsors receive 66% more leads
The New Event Metrics – Redefining Exhibitor ROI The ASI Show Passport to Winnings Every attendee receives The ASI Show “Passport to Winnings” with their badge. To be eligible for over $30,000 in exciting prizes and receive free shipping or free parking, distributors must visit participating exhibitors’ booths, learn more about their products and receive a special stamp. The Passport promotion is a favorite among attendees and is heavily promoted both before and during the show!
The New Event Metrics – Redefining Exhibitor ROI Advantages New Product Showcase When an exhibitor displays a product in the Advantages New Product Showcase, they receive: ► Physical display of product at show entrance, with headline, company name, asi number, booth number and 100-character description on display card. ► Articles in the Show Daily driving distributors to the Showcase and to see the new products. ► A free product listing in Show Directory.
The New Event Metrics – Redefining Exhibitor ROI Supplier Secrets Keynote ► The perfect opportunity for an exhibitor to give a live presentation of a new and exciting product to hundreds of distributors before the show opens. ► Participating suppliers can distribute product samples to Keynote attendees. ► Only a limited number of slots available.
The New Event Metrics – Redefining Exhibitor ROI ASI Distributor Member Benefits ● Free admission ● Free hotel room ● Free Catalog Courier ● Free parking or shipping ● The ASI Show Free Education Conference ● Daily, free Keynote presentations ● Daily, free networking receptions and special events
The New Event Metrics – Redefining Exhibitor ROI The ASI Show Free Education Conference ● Dozens of industry-specific sessions ● ASI product training and an ASI Supplier Open House ● A free New Supplier Seminar led by industry veterans ● A free Supplier Marketing Strategies workshop ● A free New Supplier Luncheon featuring an industry expert ● Daily, free Keynote presentations led by sales experts
The New Event Metrics – Redefining Exhibitor ROI Daily Networking Events to Build Important Business Relationships Off of the Show Floor ● First-Time Attendee Welcome ● Welcome to The ASI Show Reception ● The Counselor Distributor Choice Awards ● ASI Spirit Awards ● Celebrate ASI Show Reception ● Family Business Reception ● The Closing Celebration ● The acclaimed ASI Show Gala Celebration
The New Event Metrics – Redefining Exhibitor ROI Post-Show Leads After each ASI Show, attendees automatically receive, free of charge, a personalized list of the exhibitors* (with contact information) they visited at the show. This allows distributors to follow up with the suppliers they met and to start doing business with them right away. *Only includes exhibitors who used The ASI Show Lead Retrieval Service
The New Event Metrics – Redefining Exhibitor ROI ASI Show Membership/Attendee Surveys The ASI Show continually conducts membership surveys to make sure we are producing the best possible business-building events. ● Pre- and post-show surveys ● On-site surveys include education/speaker surveys, show evaluation forms and exhibitor thank you notes with survey ● Electronic surveys include event evaluation, Keynote and special event interest and demographic information Additionally, we survey our attendees to learn more about their demographics to better serve our exhibitors. ● Annual sales ● Markets they sell to ● Products/vendors they are looking for