How to Measure Experiential Marketing
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PortMA’s whitepaper, “The Experiential Marketing Measurement Blueprint” is a free, comprehensive guide to the art and logistics of measuring experiential campaigns.
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Experiential data can prove that a well-run campaign is a revenue-generating tool for the brand it was designed to serve. The problem has always been gathering the right data in a way that works with the budget.
PortMA has been focused on solving this problem for marketing agencies and brands since 2010.
The goal has always had one singular focus: how to measure the value of experiential marketing. By applying marketing research principles, we cracked the code and have an approach that has worked for hundreds of experiential marketing campaigns.
We have found that the answer has everything to do with understanding “Reach,” “Impact,” and “Value or ROI.” This is because measuring experiential marketing is about answering three key questions:
- How efficiently am I reaching the right consumers?
- Am I creating intent where it didn’t previously exist?
- Under what circumstances am I generating the greatest ROI for the brand?
The experiential data you collect when following best practices will answer these questions directly. And the process of gathering the experiential data associated with these three questions should define your activation measurement strategy.
It’s about knowing who you reached, how you impacted them, and how these two come together to deliver a dollar value greater than what was spent to create the engagement in the first place.
Your marketing “reach” is the number and type of people you “touched.” It’s the experiential equivalent of Gross Rating Points (GRPs) and it’s defined by the impressions, interactions, and sample counts as well as the demographic and psychographic profile of your event patrons.
The “impact” is a measure of the change that the marketing created. It’s measured in the context of changes in attitude and behavior. Where measuring direct behavioral changes are not possible, future intent can be measured and modeled to accurately reflect actual behavior.
Value comes from merging reach and impact to derive a monetary value. When this monetary outcome is modeled against program spend, the resulting measure is the ROI.
PortMA provides you with an experiential data collection strategy, leads fields staff in the accurate and consistent collection of this data, and provides all of the heavy liftings around your status reports and program recaps. Often this is done in a white-labeled manner with your PowerPoint templates and design.
Let us show you the secret that dozens of agencies and hundreds of brands already know. Contact PortMA to learn more about how we can partner with you on your next experiential marketing campaign.