Experiential marketing success goes beyond just reaching consumers—it’s about creating real impact that translates into measurable value. In Part 1, we explored the importance of experiential marketing Reach and Impact within the RIV Paradigm.
Now, we’ll tackle the final element: Value. Understanding Value involves tying your experiential marketing outcomes directly to return on investment (ROI). This is where your campaign’s true success is quantified and actionable insights can be revealed.
Estimated reading time: 3 minutes
Table of Contents
Defining Value in an Experiential Marketing Campaign
Value in experiential marketing isn’t just about revenue—it’s about understanding the broader contributions your campaign makes.
Metrics like new customer acquisition, increased purchase intent, and cost per lead are important. But the real magic comes from being able to act on your findings.
To reveal truly actionable value, consider two essential goals:
- Understand Objectives: Align your campaign outcomes with strategic goals. Are you aiming to build customer loyalty or expand market penetration?
- Segment ROI: Under which circumstances did your campaign generate the greatest returns? How does this align with your campaign strategy?
Measuring ROI: A Practical Guide
While calculating ROI might seem daunting, using The RIV Paradigm breaks it into digestible steps ensures clarity:
- Reach (R): How many Non-Customers were engaged? (See Part 1)
- Impact (I): How likely were those Non-Customers to purchase in the future?
- Apply a purchase adjustment for overstating future intent.
- Value (V): Use PortMA’s ROI formula to translate these findings into a measurable value (i.e., incremental revenue).
Making the Case for Value in Experiential Marketing
When presenting ROI, pair your metrics with a compelling narrative. Highlight specific data points—such as reduced customer acquisition costs or an increase in repeat purchases—and contextualize them within the campaign’s objectives.
By connecting the dots between campaign actions and financial outcomes, you ensure stakeholders understand not only what the ROI is but why it matters.
Your Experiential Marketing Measurement Blueprint
STOP FLYING BLIND
Take Actions to Prove the Value of Your Next Experiential Marketing Campaign
Your events are fantastic. And you know they work. The problem is proving that they work.
Your recap reports are beautiful but counting up impressions (and hoping no one asks how you did it) then filling a PowerPoint with photos of smiling consumers doesn’t work like it used to. Even the sizzle reel is getting old.
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