Reporting on programs already in progress is pretty cut and dried. We know their goals, demographic targets, etc. and it is our job as market researchers to monitor their progress. We also know which key metrics will drive value for the program in the long run. This is why delivering value in program recaps is so important.
Once the program is over and all the dust has settled, it’s on to the much more difficult task of measuring the value of the program. This is the lengthy process of a program recap.
Experiential Measurement is about answering Three Questions
The essence of value in a program recap is to start by exploring the reach of the program, who they interacted with (demographics), the interests and lifestyles of those patrons (psychographics), as well as an overall measure of the programs actual reach (number of people sampled, in attendance, etc.).
Next, we look into the impact the event experiences had on those that attended. We can look at a top-line view of the overall recommend or purchase intent, as well as message agreement with brand statements key to that product. To add value here we break this information down by the reach metrics that we had previously gathered (e.g., How did men ages 21-30 react? How about those that had never heard of the brand before?).
The impact section is a great way to find value in the program recap data. It can show you specifically how the program impacted your target demographic, which is the biggest question on every Brand Advocate’s mind. We can cross-reference the questions on the program’s survey to tell us if there is a relation between any two consumer segments and an outcome.
Lastly, we boil it all down to a Return-on-Investment section where we apply dollar values to the metrics. Depending on the program, we may also segment the ROI by markets or event types to see where they were getting the most bang for their buck. This information is critical when planning future programs and mapping out a course of action for years ahead.
Photo Source: https://www.wordstream.com/blog/ws/2017/08/16/psychographics-in-marketing
FOR EXPERIENTIAL MARKETERS
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