Topic: Research/Metrics

Success Metrics For Events/promotions

Posted by Anonymous on 45 Points
My client is asking about how to measure success at a promotion or event for their products. Are their any industry standards that would provide a short answer for my client?
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  • Posted on Accepted
    Measuring sales before and after the event may not prove useful – it depends on the length of the sales cycle. That’s why measuring event success should consider (1) the event goals (lead generation, awareness development, etc.), and (2) the sales cycle and your ability to capture significant post-show data. Here are several measurement options that can be useful:

    Cost per Lead (CPL). Lets you analyze costs on a consistent basis over time and compare the value of competing marketing investments. The calculation is total program cost divided by the number of qualified leads generated. Just be sure you are using qualified leads – eliminate questionable contacts.

    Cost per Contact (CPC). Generated by dividing the entire program investment by the gross number of contacts generated (NOT qualified leads). We find this questionable -- and it can lead to a focus on contact quantity instead of lead quality – like fishbowls for business cards.

    Activity-Based Metrics. When sales results are too difficult to get, marketing activity metrics rather than sales results are used:
    - Number of visitors to the booth, year on year
    - Number of qualified leads
    - Number of sales appointments confirmed
    - Cost per demo given or live presentation viewed
    - Actual costs versus budget
    - and more…

    ROI Calculations. ROI calculations such as Expense to Revenue Ratio (E:R) and Business Event ROI are gaining popularity but can be risky for events by B2B companies. Why? Because B2B revenue is often generated from multiple touchpoints (advertising, direct mail, Web site, personal calls). Claiming the revenue for trade shows alone is inaccurate. However, if the path is clear, sales tracks the source, and you have access to unquestionable data, then ROI is quite powerful.

    Good luck!

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