How to Measure the Success of your Experiential Marketing Campaigns and Events
Finding it Hard to Measure your event ROI?
I’ve always valued real-world experiences over things. In other words, if you gave me the choice between the new iPhone and a week vacation in sunny Barbados, I’d choose the beach every time.
In the last few decades, there has been a radical shift as to how consumers think about status. In the past status was all about what you own, today it’s about what you’ve experienced and as a result of this, experiential marketing now plays a key role in creating lasting customer relationships.
Today, a major challenge experiential marketing professional’s face is how to measure the success of their campaigns. In the online world, measurement is a breeze, everything is tracked and recorded in web analytics. Measuring the ROI of your SEO activity and Pay-Per-Click advertising is relatively easy in comparison to live events.
Here are 3 key performance indicators that may assist you in evaluating and measuring your event ROI:
Return on Engagement and Attendance: Tracking attendance is important, yes, but participation and engagement is more valuable. When it comes to experiential marketing it’s more about quality over quantity. Knowing that 10 000 people have attended your experience is key but knowing what each individual did and for how long is extremely valuable.
Social Media Engagement: Facebook, Twitter and Instagram are the key platforms in which customers will be discussing your experience. Tracking this activity and knowing whether your event created social buzz or not, is key to determining the success of your experience. In this year’s EventTrack report, Social media activity slid into the top 3 with 61% of respondents naming it the number 2 measurement factor of experiential campaigns.
Leads generated: According to the same report, bolstering your customer base is a surprising 3rd place. Having actionable data that has the potential to generate sales is key. This is a tricky task, however, capturing leads is often a tiring, tedious process that often hinders the user’s experience.
It’s often quite challenging tracking and measuring these KPI’s whilst still creating a seamless, compelling user experience. However, there is a tool for that now called UpD8r, the award-winning consumer engagement platform.
Upd8r is designed specifically to create, share and track engagement inside your space whilst capturing valuable consumer data, all available for real-time reporting via the cloud. It was designed to help event professionals to measure event ROI, view the video below to find out more: