It’s all about predictive modeling. You want to use what you learned from last time to do it better next time. This happens when you can model what was done.
Modeling Event Marketing Performance
We use a three stage model. Start with how efficiently the marketing reached consumers with a sample or quality brand engagement. Next, profile these consumers into customer and non-customer groups with attention to their level of understanding with the brand. Finally, control for purchase behavior and you have a solid model of performance.
- Here’s an over simplified example. (We’re working on a video training series that will explain this in more detail.) Let’s say your field team visited a State Fair yesterday and sampled 1,000 people. Using the right survey research methods, you were able to learn that 70% of those folks had never purchased the product before and 40% of these “non-customers” reported that they would buy in the future.
- You do the math (1,000 * 70% * 40% = 280) and learn that yesterday’s activity generated about 280 people leaving the event with an intention to buy who probably would not have purchased otherwise.
There are a lot of “yea buts.” However, the basic logic makes sense. More importantly, it creates a standard process from which to compare yesterday’s State Fair activity to what happened the week before at the Rodeo or what will happen next week at the music festival. All of a sudden you have a process to standardized the performance of all of your mobile tour stops.
And with that type of history in place, you can start to make real, educated decisions about how to route next year’s tour. You may choose more State Fairs and skip the Rodeo this time around (as one of our Client’s recently decided to do).
It’s putting the power in your hands to make educated choices that will lead to progressively better experiential marketing for your Clients and the Brands we all serve.
Photo Source: http://www.flickr.com/photos/osterwalder/162282102/