CRM Provides Greater Value than Customer Acquisition

I made the point, in recent classes dealing with changing event strategies and measurement for an economic downturn, that Customer Relationship Management (CRM) provides the greatest return to a company, especially in a tight economy. Customer relationship management and the associated customer/ revenue retention is one of the four elements of payback in my trade show and event ROI model.

In support of my observation, I saw this today in a "Business Management Daily" post:

"Although it’s difficult to measure ROI with the level of accuracy achievable in some other areas of running a business, researchers continue to explore the impact of customer service training on customer loyalty, as measured by customer retention, and a company’s customer service standards. Customer satisfaction research by Richardson, Texas–based KnowledgeBase Marketing Inc. concluded that investments in customer retention (such as money spent on customer service training) provide a far greater return than investments in customer acquisition. The research also showed that, compared with other customers, long-term loyal customers:

• Buy more per year
• Buy higher-priced options
• Buy more often
• Are less price-sensitive
• Are less costly to serve
• Have a higher lifetime value"

- Fuel Net

If you have not yet considered this element as an important part of your 2009 event strategy you should. An example is giving your customers access to executives, and introducing special programs for mutual benefit.

Keeping a tight grip on existing customers may prove essential to your company's well- being.

Ed

Honored Awards and Nominations

Spring and early summer have been very good to Constellation Communication Corp.

First, our Trade Show Planning and Measurment Tool won the Innovation Award from "Trade Show Executive Magazine."

See the full article here:

http://www.tradeshowexecutive.com/data/pdf/June08InnovationAwards.pdf

and

We were nominated for an Exhibitors Choice Award from TSEA!

Voting is still open - please consider voting for us!

100 + LEADING TRADE SHOW INDUSTRY SUPPLIERS NOMINATED FOR
TSEA’S NEW RED DIAMOND AWARDS

Chicago, IL –June 22, 2009 – The nominations are in, and 100+ leading trade show industry suppliers have been nominated for the new Trade Show Exhibitor’s Association “Exhibitor’s Choice” Red Diamond Awards. Voting is now open for the Trade Show Exhibitors Association (TSEA) Exhibitors’ Choice Awards at http://www.tsea.org/Foundation/ExhibitorsChoiceAwards/tabid/281/Default.aspx. The awards will be presented at the TSEA Foundation Gala on the evening of July 22, 2009 (during TS2.) The nominees include:

. . .

• Favorite Best of the Rest – APCO; Constellation Communications Corp.; Creative Training Solutions; Exhibit Surveys; ExpoCall; Kaon Interactive, Inc; ListenNational Corporation; NMR Staging and Events; Siskind Training International; Spearhead Creative; Trade Show Teacher; United Service Companies

“We’re thrilled at the enthusiastic response to this new program,” said Margit Weisgal, TSEA’s President. “Exhibitors and attendees are this industry’s ultimate customers, and these prestigious awards will be quite a marketing tool in the future.”

Voting will continue until July 8, 2009. Tickets to the Gala, at Chicago Illuminating Company, http://www.chicagoilluminatingcompany.com are available for $20 at www.tsea.org or can be purchased during TS2 at TSEA’s booth during show hours. The event is sponsored by several leading industry companies and Chicago restaurants.

###

See the full article and vote here:

http://www.tsea.org/Foundation/ExhibitorsChoiceAwards/tabid/281/Default.aspx

Thanks to those who nominated us.

Ed

Suite of On- Line Tools Now Available to the Exhibit Managers

I was a bit surprised to realize that we now have a complete set of on- line tools to support exhibit managers with some of the most important success steps in their program:

• On- Line Planning and Measurement Tool - (Simple and Full ROI. Joint venture with Exhibit Surveys, The Trade Show Planning and Measurement Tool)
• On- Line Pre- Event Staff Orientation and Training - (Simple and Comprehensive versions, annual license and per user fee, low cost for small shows)
• On- Line Post Event Staff and Stakeholder Survey - (Turn key, providing internal customer feedback, database of results analysis over the event year, by product group or division, 24/7 access to results and analysis)

Our goal is to make inexpensive, automated support for tasks that have a high degree of influence on effectiveness and efficiency of the exhibit program. Exhibit and event managers rarely have time for additional tasks, yet these tool provide essential support for measurement and accountability across a wider range of people in the organization.

Call me if you would like to know more about automated support for your program.

Fear of Negative PR Not the Only Reason for Budget Cuts

An exhibit manager chimed in on a message board recently, to remind us that the perception that shows and events are frivolous or the potential for negative PR exposure are not the only reasons events are cancelled or cut back. "... certainly not because we see the shows as unnecessary, a luxury or some trumped up PR stunt to try and present an image of a socially-conscious corporate citizen - it is simply self-preservation. Significant cuts are necessary to keep many companies in business. The marketing budget is an easy target for quick money - it's a lot harder to carve money out of production if you are already a lean, efficient organization with good strategic sourcing and operations practices in place. It is sad that this has to become politicized. Nothing should be read into the practice of cutting back trade show marketing other than it is simply one of many tools corporations are using to try and get through this recession."

Her response raises the question again, why cut marketing when things are down?

Profit often comes from serving the existing customer base. New revenue is often expensive to obtain and expensive to support, partially answering the question "why do companies cut sales and marketing budgets during an economic downturn?" Leaning out the organization as Karen has indicated and keeping the revenue streams you already have is a common approach.

Many companies are shifting weight to Customer Relationship Management at events in which they continue to participate, aka "putting their arms around their existing customers." Keeping the business you have safe from price attacks by starving competitors, offering solutions to existing customers that help you both mutually deal with the economy, and making sure that you get any additional business that is to be had from your current accounts are productive goals for events in the near term. Scheduled meetings with top accounts, where you offer real support and solutions for weathering the storm are a wise investment of time and resources.

So, if you are still counting leads as a major part of your event measurement, count meetings with high value accounts at least equally in your measure of success.

What if You Could Have Your Event Certified for Business Improvement?

One would think that after the furor over knee- jerk reactions by our politicians regarding events that the news agencies would have gotten the message too. Unfortunately, Fox News has decided that events are frivolous too and make good sensational expectorate for their talking heads . Fox and other new agencies are lurking around corporate events looking for a story to sensationalize, so be forwarned and thus forearmed.

However, wouldn't it be nice if your event had a stamp of approval that said "This event planned in accordance with business best practices, Certified Business Improvement?"

A few weeks ago I came to the realization that any company who follows the planning discipline we put forth for clients on events is able to prove the business orientation and value of said event. We are planning to formalize that process with a Certification designation for events that qualify. So when a reporter asks, "Why are you wasting all of the stockholders and taxpayers money on a lavish meeting?" You can reply, "because these customer executives spend $3.3 billiion dollars with us each year and have pending proposals for $382 million more in the next three months. Our event strategy and plan was planned in accordance with business best practices and will deliver a profit for the company."

For more detail on how you can insulate your events from a "drive by evaluation", read the case study on our website "The ComCo Classic Winner's Circle Pro-Am" found at http://constellationcc.com/case_studies.htm

Have a great weekend.

Ed

“How to Rescue a Worthwhile Event” - CASE STUDY

Current economic and political influences are inhibiting participation in big events for many if not most companies, particularly the most expensive, highly-visible events. In many cases, events have been canceled. Some companies are finding it more expedient to cancel an event for “PR” reasons, or because they are unsure of the value delivered relative to the cost.

A factor in these reactionary decisions is events may not be clearly understood in terms of their direct influence on near-term business improvement. Stated another way, there may be little fear that negative business impact will result from event reduction or cancellation. These perceptions may be affecting you right now. So, what can you do about it? To help you formulate a plan, I have revived and revised a post from last spring dealing with justifying valuable events.

Protecting or rescuing an event depends upon identifying its’ payback in terms of business improvement goals. The number of valuable outcomes and amount of payback may surprise both you and the boss. When a productive event is in jeopardy, it is time to identify the payback streams and make a rational case to continue or discontinue it based upon the impact on the bottom line.

The case study, “Cancelled, End of Discussion,” is about a multi- million dollar sales incentive travel program that was cancelled by the chairman of a Fortune 50 sized company. His cancellation decree came mid- year, for exactly the same reasons cited, the need to cut cost and because the program was highly visible. As the current program neared its’ final conclusion, a comprehensive measurement program was initiated to determine the true value of the program for the company. The same study also identified the potential negative impact on the company if it were to be discontinued. The chairman, not known for changing his decisions, not only reinstated the program, but increased its’ scope once the value and potential loss was clearly understood.

This case study may be found in the Solutions Center section of the Constellation website http://constellationcc.com or go directly to the document at http://constellationcc.com/cancelled.pdf.

So, what can you do if you have a good event that is in jeopardy? Mount a campaign to save it. Any event can be analyzed on a forecast basis (before the next occurrence), a post-mortem basis (after the last occurrence) on an actual (current) basis to determine its business improvement value. This type of analysis also provides prescriptive steps to increase the value of an upcoming event to the bottom line. This process results in development of a presentation to senior management that clearly delineates the business results associated with the event and the results that flow from it. Once the magnitude of the results is determined, the decision becomes an economic one, not an emotional one.

If you are a corporate event manager or director, consider mounting a campaign to save a productive event. If you are an event organizer or provider, such as an event production agency or exhibit house, consider supporting your client in need with event measurement and ROI support. The result will be not only the potential salvation of a productive event, but a change in the way events are viewed internally by the company.

Call +1.770.391.0015 or email me edjones@constellationcc.com with questions or to explore a rescue mission for an event you know is worth saving.

****************************************************************************

Related Services from Constellation Communication Corp.

Event “Business Best Practices” Certification

Constellation Communication Corp. is offering clients an independent certification for face-to-face internal and market facing events that meet Business Best Practices Standards (as defined by Constellation.) This certificate attests, to any interested party, that the named event was planned and measured for specific business improvement results. It further certifies that the expected business results are achievable and reasonable relative to the event cost.

Constellation will assist a company to produce event objectives and plans that will produce tangible business improvement results. Constellation will also provide event evaluation services to prove business improvement value.

Post- Mortem Trade Show Justification and ROI Analysis

A service of value to corporate exhibitors, event services providers and show organizers is the post-mortem trade show marketing analysis. This analysis identifies and summarizes tangible value from a recently completed event. The analysis is conducted through collaboration between key corporate event team members and senior level consultants from Constellation Communication Corp.

The analysis is run using the Constellation Return on Investment in Events Model. This model provides a complete picture of the business value obtained from the last event. The analysis also examines and makes recommendations regarding resources in a process referred to as “Right-sizing.” The analysis will identify how much space, how many staff and how much budget should be allocated to a particular event. The analysis looks at all sources of profit improvement delivered through event participation to the company, and makes conclusions regarding the benefits relative to cost.

The analysis is also useful in that it will generally expand the number of objectives and associated results that may be reported as business improvement. The types of objectives considered are:

• Executive Participation
• Thought Leadership
• PR Impact and Media Equivalence
• Business Development Goals
• Return on Stated Objectives
• Technology, Product or Service Show Casing
• Cost/Expense Reduction
• Return on Investment

Show organizers or events services providers experiencing attrition in exhibition and sponsorship levels or budgets for client projects may want to consider offering a post- mortem business value analysis to key clients who may be cutting- back. There is generally more business improvement value to be reported than the typical exhibitor may recognize and report. The result is a logical, fact based report of the estimated value of continued participation in an event or for an overall event program.

The cost for a post- mortem (or forecast) analysis and ROI valuation is approx. $2,500. Additional research may be required for complex events. A post- mortem or forecast analysis takes between seven and ten days to complete. The deliverables are:

• Return on Investment Event Summary
• Right-Sizing recommendations regarding budget and resource levels
• Recommendations regarding event performance improvement, strategies and tactics
• Power- point presentation for internal, executive level presentation to senior management
• Focus on investment justification

Please call +1.770.391.0015 or email edjones@constellationcc.com with questions or to explore a rescue mission for an event you know is worth saving.

Kerry wants Feds to Ban Certain Events - Are We Partially to Blame? ...and What Should We Do?

The time of reckoning has arrived. According to the National Business Travelers Association, "Senator John Kerry has introduced legislation that would ban all 421 firms including the nation's largest banks that received money from the Troubled Assets Relief Program (TARP) from hosting, sponsoring or paying for conferences, holiday parties and entertainment events." The federal government now thinks it must regulate what is acceptable business practice with regard to meetings. This is another glaring example of politicians setting destructive, sentiment based legislation in motion with real unintended consequences.

Are we partially to blame? I think we share some responsibility. We have produced many glitzy, high profile events without discernible, measurable business objectives in place to justify their cost. Now, a couple of very visible events have made the news, with little in the way of defense. In too many cases, we have ignored the need and opportunity to report value.

What can we do about it? First, contact John Kerry and let him know that tens of thousands of jobs will be affected by his ill-conceived reaction. http://kerry.senate.gov/contact/email.cfm . Here is the message I sent him this morning:

Mr. Kerry,

Even though the sentiment for anti-event legislation may seem worthy, it will hurt tens of thousands of meeting and event producers, hotel and food service employees, transportation workers and countless others. Many of those employees are union workers. This most assuredly would not stimulate the economy.

Events produce valid, reportable business results. Visit http://constellationcc.com if you want to understand meeting and event measurement and the impact of meetings and events on business results and profit.

Ed Jones

Next, investigate and join any one of several movements at work to counter this legislative trend. The NBTA Action Alert can be found here: http://capwiz.com/nbta/issues/alert/?alertid=12773376, also the Keep America Meeting initiative has good momentum. You can visit this organization at: http://www.keepamericameeting.org/ (You may want to be cautious about joining the mailing list for the host organization that provides the web hosting for this movement.)


In addition, we must begin now tying our event planning and measurement squarely to business improvement objectives. The results of these events must be presented in “Business Speak.” There can be no doubt that event cost is aligned with event outcomes in terms of business profitability.

As I have said in the past, identifying what to measure is perhaps the most difficult hurdle in event measurement. Once crossed you are well on your way to justifying an event expenditure. You may have 1,000 customers and prospects visit your exhibit or conference, but none of those visitors have an identifiable value until you can link them to an element in the simplified profit equation. Revenue – Expense = Profit.

To be successful you must think of event activities in terms of their value to the company. The event activity must accomplish two main goals. Business Improvement and Communications.

Under the goal of business improvement, interactions with people should include meetings with customers for the purpose of existing revenue retention and growth on the customer base, prospects for the purpose of expanding market share and the customer base, suppliers for the purpose of reducing cost and increasing availability or improving process, partners to make better solutions from your offerings, and regulators and legislators to keep market conditions conducive to success. For employees, meetings must result in changes in job behavior that improve profitability. Cost reductions through speed, accuracy, improved process, better teamwork, and superior decision making can be demonstrated and valued.

In a recent blog post I detailed a simple way of tying event accomplishments to business value. Consider the simple relationships between typical event activities, business processes and the simplified profit equation:

• Seeing and documenting new prospects (sometimes referred to as developing leads) is really customer acquisition.
• Seeing existing customers and thanking them for the business, providing executive access and introducing them to preferential programs is really customer retention.
• Briefing customers at a conference on how to use, manage and troubleshoot a system or product is really customer support.
• Asking customers and prospects questions at an event is really product or market research.
• Spreading and reinforcing the brand and priority messages is really advertising.

So, tying event accomplishments to business improvement and value might be fairly straightforward. In any case, it is quickly becoming a requirement. Linking event activity to these types of business accomplishments puts events squarely in the context of business improvement and will help us insulate them from knee-jerk reactions of ill-informed politicians.

Ed

A Brilliant Piece of Peer to Peer Marcom by a Non- Marketing Grad Student

Sometimes, albeit rarely, I am amazed by the clarity of a marketing piece. This video,
is produced by Adam Winn, a graduate student at the Center for Information and Communications Sciences program (CICS) at Ball State University (I am an advisory board member of this program.) The purpose of the video is to promote the CICS program to potential students through YouTube and other outlets. He is a graduate student in the computer and networking sciences field, and not a marketing major. He was a telecommunications undergrad.



There are many lessons here. 1) It doesn’t take a creative genius or experienced marcom practitioner to create great communications. This phenomenon, of which this piece is one of thousands of examples, is the result of ubiquitous, social, digital media exposing that many types of people, of varying personality types, interests and disciplines can be great communicators. 2) The resonance of “peer to peer marketing” is extremely powerful and may equal or exceed that available through traditional marcom output.

3) User produced media is reshaping how we communicate, are entertained and most definitely, how we are influenced.

Comments are welcomed.

Why Do Companies Cut Sales and Marketing Budgets in an Economic Downturn?

...How Events Can Help Solve the Problem and How You Might Increase Your Own Value to the Company

A common rhetorical question heard among sales and marketing colleagues these days is, “Why do companies cut sales and marketing budgets during an economic downturn, when they need to sell more?” The truth is, it may be essential and in some cases, pushing for more new business could contribute to the problem.

"New revenue" from new customers often comes at a high cost. For many companies, existing customers are the greatest source of actual profit because they are the easiest to maintain and to sell. So, when things are tight, smart companies hold even more tightly to their existing business. CFO’s in survival mode know that expensive sales and marketing campaigns to attract business that might not be profitable for a while, may not be practical. Keeping existing business is essential.

Also, net new business volume requires investments in resources and people to produce and deliver products and service to new customers. Servicing new customers can be expensive, because they don’t yet know how to use the products and they are not part of the ordering and service systems. Increasing the size of the workforce may not be an option, and a survival strategy may be to handle the existing business volume with fewer people until the crisis passes.

How Events Can Provide Solutions –

Events provide a way to reach large numbers of people at once, at a relatively low cost. Remember, the purpose of an event is to motivate people to act in a way that benefits the host. Here are a few ideas to consider:

• You should strongly consider aiming events at existing customers to protect and grow their business. User and customer conferences actually result in near term sales and reduce service costs for companies that know how to plan and run them correctly. (See the Case study "What is Your Conference Worth to Your Company - http://constellationcc.com/case_studies.htm).

• Executive level customer conferences can create a platform where the top executives from your best accounts come together with your executives to collaborate on mutually beneficial solutions for dealing with an economic downturn. Executive to executive interaction is the most effective way to cementing business relationships.

• Few companies want to totally stop their pursuit of new business and new market share. When economics dictate a reduction in sales force or sales expense, your events can provide a cost alternative for reaching large numbers of potential buyers.

• Public events may suffer from lower attendance during an economic downturn. In some cases, the absences may be among lower level, less important participants who are not required to be there. As a result the remaining audience may be richer in targets and less expensive to reach.
  

• Private events, those you host yourself, can be staged in locations close to targeted accounts, and may be perceived as an opportunity for companies to find solutions for dealing with their own problems.

How you approach these events should be different compared to how your company normally conducts business at trade shows:

• It is essential to identify, by company and title, if not name, everyone at an upcoming event who can improve your results.

• Next, contact and arrange pre-scheduled, face- to- face meetings with these targeted individuals to discuss mutually beneficial approaches to dealing with a slow economy.

• Attract and "detail" targeted individuals who visit your stand. If you are able to accomplish the equivalent of an important sales call with targeted individuals in your booth, you will reduce your cost of sale.
  

• You must have a specific outcome (step in the sales funnel) in mind for these targets, and you must get them to commit to participate.

• Broaden your idea of a "target" to include suppliers and alliances. Interactions with these targets reduce the cost of materials or logistics contribute directly to the survival of the business.

That approach fills the sales funnel with prospects committed to a step in the sales process, ones that may not be coming from a reduced sales force and may help to lower the cost of doing business.

Saving the Company Money –

Finally, events can save your company money when it is most needed. The face- to- face meetings I referenced reduce the cost of field sales because the prospects and customers have paid their own way to meet with you.

Providing access to your executives for customers and prospects is a sure fire way to protect business and cement deals for new business. The savings from putting fifty to one- hundred or more customers and prospects in front of your executives, in just a few days, could reach hundreds of thousands of dollars in savings per event.

What to Do Right Now –

Talk to your sales executives about how carefully chosen events could help your company deal with the instability and change associated with the current economic climate.

Your importance to the company is about to rise rapidly.

Ed

What Do Other Companies Spend at Tradeshows?

Comparing Total Spending at Trade Shows

Using a Cross Industry Benchmark of Cost per Square Foot

Clients ask us, “How does our trade show spending compare with that of other companies?” Specifically, what are the benchmarks for total cost of a typical trade show appearance, including all activities except staff time and travel expense (items typically not reflected in the trade show budget)?

It is easy to find references on “spending per square foot” as a comparative index. However, the numbers we see significantly under estimate total spending. Many of the references we found indicate a cross industry average cost of approximately $60 per square foot, including space rental. The most often cited number for a "new build" is ~$150/ sq. ft. Many exhibit managers are shaking their heads wondering how this can be true!? The most likely answer is that these indices do not reflect total show budget but a subset of spending directly related to the exhibit.

To address this need, Constellation ran the average “cost per square foot” data on the actual results from several hundred events in our database. These trade show programs were managed by companies in several different market segments.

So What Do Other Companies Spend?

Total Trade Show Spend per Square Foot

(Cross Industry View)

Type of Customer	Cost/ Sq. Ft.	Exhibit Program Size and Scope
Manufacturing (Fortune 100)	$127	Large Domestic
Transportation (Fortune 100)	$137	Medium Domestic
Consumer Package Goods (Fortune 100)	$144	Large Domestic
Medical and Household Goods (Fortune 1000)	$172	Medium Domestic
Exhibit House Clients (Mix of Sizes)	$186	Mixed Domestic
Engineering/Manufacturing (Fortune 100)	$187	Large Domestic and International
Banking (Fortune 100)	$239	Large Domestic
Computer Technology (Fortune 500)	$388	Large Domestic and International

We estimate the average Cost/Sq. Ft. benchmark, on a cross- industry basis, to be $150 - $190/ sq. ft.

This index includes all things that are generally found in an actual event budget, including off-floor activities and expenses such as a customer dinner or event, sponsorships, media, etc. The index excludes staff expenses (time, travel, food and lodging) that are not part of the show budget. Those costs are usually covered by non- trade show budgets based elsewhere in the organization. (Some clients prefer to look at the complete picture and include staff travel cost. This can be estimated by multiplying the domestic traveling staff by $1,000 and the international traveling staff by $10,000. This article deals only with budgets that do not account for staff cost.)

A Second Opinion

As a cross reference, I asked our friend Skip Cox, at Exhibit Surveys, to perform a similar query against their database of hundreds of events. Skip indicated the average spending per square foot, on a cross industry basis was similar to our finding at approximately $170 per square foot.

These numbers are presented as a guideline. They reflect actual results against hundreds of shows. "The index of “cost per square foot” is a useful way to forecast how much money you might need to allocate to do a good job at an upcoming event or to evaluate how well you are managing cost compared to the spending of others."

The average exhibit size reflected in this data is approximately 400 – 500 square feet, i.e. a medium exhibit size. In the table above you will note that some programs were defined as large, where exhibit sizes can average 1,000 square feet or more. Some of the large programs have a lower cost per square foot compared to smaller ones. Other factors you should consider when reviewing this data are 1) the averages reflect excellent, good, fair and poor cost management by different companies, 2) the cost for floor space rental varies by show and industry, 3) the degree of off-floor and off-site activities included varies by industry and company type, and 4) these averages reflect some programs that include international events where cost is almost always 20 – 50% higher. This data represents results from 2007 and 2008 shows.

Using indexes such as Cost per Square Foot is another example of how a good event measurement program can help you manage your company's resources for maximum efficiency and effectiveness.

If you have questions about your specific spending, please contact me and I will be happy to answer them.

+1.770-391-0015, http://constellationcc.com/

ROI: Beyond the Buzzword

This is an article in the current issue of “Smart meetings”
November Issue
Author: Sandi Cain

ROI: Beyond the Buzzword
You may want to give this a read, especially for the meetings side of the event measurement and evaluation world. I was interviewed and provided content for the piece.

Ed

The Importance of Forecasting a Marketing Event

Forecasting is an essential part of planning, otherwise, there is no way to know what results can be expected and thus how much to spend. Event marketing budgets should be directly correlated with the opportunity an event presents. Also, it is pretty important to set realistic expectations internally with executives and others about expected results and justification for the investment.

The following variables can be forecast for an upcoming trade show for example:

Estimating Resources
Exhibit size
Budget
Number of Staff Required

Estimating Results
Number of visitors
Number of Engaged Prospects
Number of Committed Leads

Expected Sales Results

Number of Impressions - Promotion Impact(Gross and Targeted)
Advertising Equivalent Value (Media Value)

Cost Savings

Customer Relationship Management Value

Payback Ratio - ROI

It really is worth the time to estimate what an event will produce and what resources are required. For more reading on this and other event and tradeshow measurement topics go to our website at http://constellationcc.com.

Ed

Small Samples, and the Margin of Error - A useful Read

Today I am sharing a really useful post - Small samples, and the margin of error from the blog: What’s new
Updates on my research and expository papers, discussion of open problems, and other maths-related topics. By Terence Tao


It is pretty complex in some places, but skip the equations and read the text, which is quite digestible.

As Constellation conducts random sample research in an event marketing measurement context, these are things we worry about and try to point out. Sometimes we see a client take results and run with them that may have significant weaknesses. For example, very high level executives are not nearly as likely to respond to a poll because they are very busy or they have an assistant screen their correspondence, so they are under-represented in the result.

Also relevant, people tend to believe what is reported on TV or in the press. The myriad of polls reported daily have many of the issues explained in this post. I believe that is why networks famously called states incorrectly on election day. I would suggest we are usually looking at close to 10% possible (not probable) error on most of the better political polls reported on TV.

Thanks to Terrence for a very thoughtful article. If he could dumb it down a bit, it should be required reporting on every television network and print media outlet.

Ed Jones

Read the Post - Small samples, and the margin of error
10 October, 2008 in expository, math.ST, non-technical | by Terence Tao

Slogans - Do They Work? and Does Anybody Care?

Does your Company Slogan reflect your Business?... Is this relevant?

Asked by Mariéme JAMME- MBA
Ed’s answer:

Marieme, "Delta is Ready When You Are!"

A slogan is only as good as it is customer focused.

An example I use frequently is from Delta Airlines, a great company. Their best known slogan was "Delta is Ready When You Are!" an entirely customer focused message. Later it changed to "We Love to Fly and It Shows," an entirely myopic, self-centered slogan that happened to be timed with a significant downturn in customer service and what was perceived to be a bad attitude at the airline. You might also remember the "Ya da Ya da" unintelligible music they played as you boarded or exited the airplane. Sometimes even good companies seem to lose their minds.

Your slogan should communicate value to the buyer. If so, a slogan will be important and will likely be a factor in buyer preference. I hope this is helpful.

Ed Jones President Constellation Communication Corp., Event Measurement, Justification and Continuous Improvement

TSEA Master's 2008 - A Great Success! Reviews

The TSEA Master's 2008 Conference focused on three main ideas and skill sets; 1) understanding how to create business value through events and how to present those accomplishments effectively to executive management and others within the organization, 2)how to use consultative selling techniques to increase alignment with business goals and profitability, expand the participation of others within the organization and to increase the influence of the event manager within the organization, and 3) the importance of Green Exhibiting.

The conference was deemed a great success by a group of participants that are considered seasoned veterans in the industry and many of whom attended Master's conferences in the past.

The 2008 Master’s provided a basis for expanding the internal corporate conversation vertically and laterally. Trade shows and marketing events are clearly a profitable opportunity.
Ed Jones,
Constellation Communication Corp., Instructor

The following are the endorsements for TSEA’s Master’s from those who participated.

Excellent program. I learned a lot and really enjoyed the exchanges. Small but very active and high-energy group, anxious to learn and share.
John Zeitlin,
American Express

The conference was a great learning experience. Enjoyed learning about going green.
Kristin Towler
Constellation Communications

Even after three years’ attendance, the Master’s continues to provide education unavailable anywhere else. It is a ‘must attend’ and should not ever be missed. Keith, Ed and Tom did an outstanding job. Not only was the content more appropriate to a Master’s level, their methodology of teaching, reinforcing, and confirming each attendee got it before we left was great.
Michael Seymour
3D Exhibits

The Master’s conference continues to be the place for advance education for the exhibits professional. No matter how many years you have in the industry, I was challenged and inspired the program is innovative and truly advances exhibit marketing to the strategic and management level of the companies where we work. The opportunity to network with other experience professionals is excellent.
Cyndi Erp
KCI

The information received from the instructors was fantastic and is definitely info that can be put to use immediately. This is the most valuable time I ever spent at trade show seminars. Thank you!
Dan Peck
Boeing


The TSEA Master's program, Providing Strategic Guidance at the Executive Level, has taught me fundamental steps to provide our management team and event stakeholders with key strategic insights into our event programs including revenue impact, relationship management, cost savings and promotion value.
Elizabeth Brannen, CMP
TANDBERG Television, part of the Ericsson Group

Go to the TSEA website for more information about TSEA and the services and benefits they provide.

When Sales People Won't Stick to Your Exhibit Staffing Plan

I provided some advice on this topic in an article for the latest MC2 "eConnections" newsletter. MC2 is a great partner with us. They take strategy and goal accomplishment seriously and as a result, their designs and execution are very effective. I highly recommend them.

Article: What can I do about an aspiring "David Copperfield"?

My star salesperson always signs up for booth duty, but never comes to the pre-show training and cuts out as soon as the first hot prospect appears on the horizon. I need her on the show floor. How can I keep her focused? Or should I admit defeat and find someone to take her place?

-- Bethany, Exhibits Manager

Read the full article here!

Simplifying Event Marketing Plans by Simplifying Objectives - Event 2.0 (two objectives and extended target involvement)

When you boil it down, there are really two main objectives for event marketing.

I. Business Development/Improvement (Revenue and Cost)
II. Marketing Communications

Events may be aimed at one, the other, or both. The focus for a particular event may vary from year to year, based on the product cycles and your company. When we perform event measurement, the key determinant of event value is consistently the number of addressable, high value contacts reached through that event.

Revenue Related Business Development accomplishments include:

• Customer acquisition (adding new prospects to the database and sales to new
customers)
• Growth of the existing customer/ revenue base (sales to existing customers)
• Customer retention
• Acceleration of the sales cycle

Targeted audiences for revenue related Business Development activities are:

• Prospects
• Customers (direct)
• Channels
• Integrators and Aggregators who buy from you

Cost Related Business Development accomplishments impact on the cost side of the profit equation. You can impact cost, quality and availability or resources and affect mutually beneficial partnerships for joint offerings and accomplishments.

Targeted audiences for cost related Business Development activities are:

• Suppliers (improve price, quality or availability)
• Partners
• Strategic Alliances
• Others who can lower costs or improve resources, processes or market positioning

Marketing Communications accomplishments include:

• Brand development/ reinforcement
• Market positioning
• Product positioning
• Product and program introduction/ launches
• Company news
• Community affairs
• Communications with standards bodies and other market forces that reduce cost and or improve probability of sale
• PR Impact (influencing positive coverage of your company and products in trade or general press.

Targeted audiences for Marcom impact include:

• Press
• Analysts
• Pundits
• The market at large
• In some cases the public at large
• Regulators and politicians, bureaucrats, etc.
• Standards bodies, industry alliances, etc.
• In some cases financial analysts and investors

Getting the Job Done –

Business Development and Marketing Communications objectives are usually best accomplished by establishing appointments for face- to- face meetings with high value contacts, held during an event. At a consumer event, the interaction needs to be personal as possible. This has proven time and again to be the greatest source of value at most marketing events.

Effectiveness of getting things done is dependent upon a sound communication strategy and execution. Prospects, customers, suppliers, influencers and press have to know what value you offer and what you want them to do. What you show and tell should be completely tailored for the benefit of the various targeted audiences (outlined above) addressable at each event.

To create a simple strategic brief for an upcoming event, simply follow this format and provide a description of how and what you intend to accomplish in each area, and describe the specific individuals you must meet in order to reach those goals.

And remember it is usually what happens after the event that delivers payback. So your post event plan is usually more important than the event plan. Keeping all of these targets continuously engaged in a communal relationship with your company is an essential element in Event 2.0. (with apologies to Web 2.0 :) )


Ed

Poll - Interest in Simplified, Web- based Planning Tool for Tradeshows and Events

I would like response on the need for a simple, web- based planning tool for tradeshows and events, and some input on what it needs to be.

Small events and decentralized events - I am thinking about a tool to help those people who run small and or remote events. Those people are the ones who do not get the planning and care normally provided for the larger "corporate" events. They need to know what to consider to produce an effective event and need some coaching regarding how to communicate effectively and stay on brand and message.

Larger events - Perhaps, you need a tool that provides a consistent databased approach that would help you communicate with, focus and unify the extended team for the largest events.

The reason I ask is that Constellation and another expert industry resource are considering developing this tool. We we would like to have input on what it needs to include from a capabilities perspective.

The basic model would be a sound planning structure that includes seven or eight main reasons for doing marketing events. The respondent will pick applicable objectives among those offered and choose one or two measurable outcomes for each as event goals. The tool would email the manager a "strategic brief" that can be used internally with executives and managers who must participate to make the event work, and externally with the exhibit house or production agency, etc. Completed plans will reside in a database.

Results tracking - The tool would include support for the event manager to report on the success of the event against the selected goals. The tool would email the manager an event summary based upon their input that can be shared with the team and communicated "upstairs." The results among all events would keep the accumulating in a database throughout the year for quarterly and annual analysis.

What do you think? How in your organization would need and use such a tool? Please comment on this post or email me. edjones at constellationcc.com

TSEA 3rd Annual Master's 2008: Providing Strategic Guidance at the Executive Level: Aligning Actions and Values

Trade Show Exhibitor Association will hold it's 3rd Annual Master's Conference on the topics of "Providing Strategic Guidance at the Executive Level: Aligning Actions and Values."

Jones to Speak and Present Case Study -

I will speak at the conference and conduct a case study on the topic of aligning trade show activity and business objectives including how to communicate with executives and those in other departments, on September 12th:

9:45 AM - 11:00 AM
Strategic Communications Part One: Business Improvement

If you frame your event program in terms of business improvement, you can use this framework to communicate more effectively with internal customers, external suppliers, members of your team, C level managers and your company’s decision makers. Presented by Ed Jones

11:15 AM - 11:45 AM Case Study Exercise 1: Business Improvement
Presented by Ed Jones

11:45 AM - 12:15 PM Group Debrief Case Study Exercise 1
Presented by Ed Jones

Please consider attending if you live within easy travel distance or are interested to make the trip. The conference runs from a opening reception on Sept. 11, 6:30 PM through Sunday September 14 around noon.

The full agenda is as follows: AGENDA

Invitation, conference details and registration may be found at: Conference Invitation


The conference overview is:
Trade Show Exhibitor Association’s 3rd Annual Master's 2008

This is a real eye-opener! Sharpen your mind, strengthen your career and ramp up your CEU credits toward your CME with this unique power-packed boost of an educational banquet. Learn from among the industry's most knowledgeable presenters in an intensive and interactive environment designed to facilitate open dialogue and discussions of best practices.

Presentations, exercises and case studies will enable you to build upon your knowledge and experience while enhancing your communication skills and ability to increase the value that you, your team and your show/event program provide. CEU credits earned through TSEA have double value.

Topics include:
• Executive Speak – The language of decision makers
• Develop Insight – Identify each decision maker’s:
o Vision and challenges, opportunities and needs
o Criteria for comparing and contrasting marketing mix elements
o Process for decision making and budget allocation
• Planning Your Program Strategically
• Going Green: Exhibit Design – Think and Design Strategically
• What does ‘going green’ really mean in practical terms.

You’ll leave Master's 2008 re-energized and re-committed with new ideas and fine-tuned skills, well on your way to completing your CME and motivated to provide strategic guidance to your company’s C Level managers and other internal customers.

Please feel free to call me with questions. +1.770.391.0015

Ed

Leveraging Every Aspect of a Trade Show - The Value of Meetings - Pod Cast

My friend Joyce McKee interviewed me for a pod cast on the value of meetings with high value contacts at marketing events such as trade shows. I think you will find this practical and valuable.

Leveraging Every Aspect of a Trade Show

Tying Events to Business Improvement and ROI “Business Speak”

BY: Ed Jones Date: August 6, 2008

Today I read a great post by David Carter on ROI and social media. It provided a simple structure for linking marketing activity to business improvement. As you know, I am all about simple structures for things that are perceived to be difficult. I suggest you read it. The structure he presents is entirely consistent with what we teach about event ROI. I was encouraged to make the same case for events, so with appropriate acknowledgment to Mr. Carter, and borrowing from the structure and questions he presented, here is the event version for tying activity to ROI.

Identifying something to measure is perhaps the most difficult hurdle in event measurement. Once crossed you are well on your way to justifying an event expenditure. You may have 1,000 customers and prospects visit your exhibit or conference, but none of those visitors have an identifiable value until you can link them to an element in the simplified profit equation. Revenue – Expense = Profit.

To be successful you must think of event activities in terms of value to the company. Consider the simple relationships between typical event activities, business processes and the simplified profit equation:

• Seeing and documenting new prospects (sometimes referred to as developing leads) is really customer acquisition.
• Seeing existing customers and thanking them for the business, providing executive access and introducing them to preferential programs is really customer retention.
• Briefing customers at a conference on how to use, manage and troubleshoot a system or product is really customer support.
• Asking customers and prospects questions at an event is really product or market research.
• Spreading and reinforcing the brand and priority messages is really advertising.

So, tying event accomplishments to value might be more straightforward than previously thought. Ask the people who manage these functions within your company for the following values:

• What is the cost of acquiring a customer? How much are you willing to spend to get a customer?
• What is the annual value of a customer? Do you sell a one time service or product, or do you have a recurring stream of revenue?
• What does it cost to support the customer? For example, what is the average cost of a call to the support center?
• What do you spend on product or market research? Be sure to include focus groups, attitude and awareness, perception, brand research and testing?
• What is the cost of our advertising on a gross and targeted impression basis?

Most event interaction goals can be tied to the numbers above. Then you can speak about event accomplishments in business terms. Report accomplishments as either an influence on revenue or cost. Those are the two ingredients of profit.
As Mr. Carter points out, the difference between the cost to acquire a customer, and the average value of an existing customer is the value of retaining a customer. Customer retention should be a primary event marketing goal. Mention customer retention and you will get any executive's attention.

How many customers were briefed on a new product at your last show? What would be the cost to do that in the field? How many technical questions were fielded at your conference or at a show? How many calls to the call center were avoided? Those are direct influences on cost reduction/ expense avoidance, one of the four key values from event marketing. What was the impact on customer satisfaction and the associated impact on customer retention?

Linking event activity to these types of business accomplishments puts events in the context of business improvement.

Ed

Greetings from TS2! What you should know about Web 2.0

TS2 is swinging along in fine form. I have not heard the final attendance count but there are plenty of people here and the sessions have 40 + people in them.

I attended a session on Web 2.0 and social networking. Joyce McKee, who runs http://letstalktradeshows.com was interviewed live by Michael Hart, editor of Tradeshow Week. She did a great job explaining the basics and giving straightforward advice on these topics. I suggest you visit her site if you are trying to figure out what you should do as an event manager in the world of cyberspace publicity, and for perspective on most other trade show related topics. By the way, Web 2.0 is really more of a concept than anything real, at least in my opinion. It centers on linking people and concepts together as a fundamental ingredient of web activity. Think Facebook, LinkedIn or Event Peeps.com as examples.

Mike Olson Sr. Mgr. Trade Shows at Ratheon and I present tomorrow at 4:30 PM - How to Manage Executive Perception of Trade Show Value. I think it will be a great session with lots of detail.

"How to Manage Executive Perception of Trade Show Value!" Case Study Seminar at TS2

"How to Manage Executive Perception of Trade Show Value!" Case Study and Seminar at TS2
(Conference July 28-31, presentation July 30, 4:40 – 5:30 PM)

Presented by Mike Olson, Events Manager for Raytheon and Ed Jones, President, Constellation Communication Corp.

Real world event measurement, examples, practices, procedures, results.
This is not your typical measurement and ROI presentation. Your participation, questions and discussion are invited.
The seminar reveals how real world measurement can change perceptions of trade shows and re-define their role in the company strategy.

Description:

It is not uncommon for executives to question the value of tradeshows, especially when there are hundreds of them and some are among the largest items on the marketing budget. Opinions range from indifference to general opposition. Changing these perceptions depends upon providing information on accomplishments in a framework relevant to the executive perspective. This means specifically and consistently addressing business development, customer and partner relationship management, promotion and communication value, cost savings and other objectives held by the company.

Learn why Raytheon moved from a “Trade Show” to “Customer Event” orientation. See one of the most effective measurement programs in industry today.

Join us at TS2 for this exciting seminar. Wednesday July 30, 4:30 - 5:30 PM.

If you have not signed up for TS2, consider it now. See you at TS2!

Understanding Traffic Density - Yikes! What is that? Some helpful thoughts.

Traffic density may not be easy to understand at first glance. While working on this problem I came up with some useful additions to the concept.

I was answering a question for a colleague that centered on understanding traffic density numbers (as provided by Exhibit Surveys in their show research). Exhibit Surveys provides what I consider to be definitive benchmark data on trade shows as it is derived from good solid primary and secondary research.

First off, Exhibit Surveys defines traffic density as: "the number of attendees per 100 square feet of exhibit space" available at an exhibition.

The average across all shows for 2007 was 2.3. The top ten shows measured in 2007 ranged between 2.9 and 8.4, a very wide range. (Source Expo Web Marketwatch: Trade show attendee benchmarks - http://www.expoweb.com/Benchmarks_Research/2008MayMarketwatch.htm)

The formula is:

Traffic Density (TD)= N x tv x 100/A x ts

Where:

N = Net Attendance = _____ (excludes exhibitors, press, and staff)
A = Total exhibit space = _____ net sq. ft.
tv = Average time attendees spent at the exhibits = ___ hours
ts = Total hours the exhibits were open = ___ hours

This calculation takes into account how many people are in the halls, for how long, spread among a number of exhibitors.

But how many visitors on average does this translate to for an exhibitor? That is the question I am most often asked. Here is a simple way to take a traffic density number and turn it into an average visitor count:

Take the traffic density number, say 2.3 visitors per 100 square feet of exhibit space, and multiply it times the average number of exhibits seen per hour, (I don't recall seeing this number currently used or reported so you may have to estimate from your own observation, or ask show management.) That gives you the average number of visitors/ hour/ 100 square feet. For example: a 2.3 traffic density x average of 4 exhibits visited per hour = 9.2 average visitors/hour/100 sq. ft.

Multiply that times the total number of exhibition hours, and you get the average number of visitors/100 sq. feet/ show. Example, if the total number of exhibition hours is 24, then the average number of visitors / 100 sq ft. would be 221 (9.2 x 24) for the show! Remember, these visitors are "net" of exhibitors and other untargeted personnel.

Caution!!! a bigger exhibit does not necessarily mean more visitors, and there is a limit to how many visitors are available, regardless of how attractive you are.

My direct observations through client evaluations indicate visitors go to 3 – 4 exhibits per hour and 21 – 32 exhibits per show. (7 to 8 hours in the exhibition x 3 to 4 exhibits per hour.) Exhibit Surveys many have more definitive data on these variables.

Exhibitors are most interested in estimating the traffic they can expect. Mercenary aren’t we! I hope this helps understand an important concept and to get a little more value from it.

Regards,

Ed

Call me if you have questions or to discuss. +1.770.391.0015. edjones@constellationcc.com

Generating Leads and ROI from Event Marketing - from First Wave

This is a post you may be interested in regarding the all important pre and post event marketing and communication campaign steps, from our friends at First Wave. This was based upon a lunch conversation I referenced in this blog a few weeks ago.

"...I had an interesting lunch the other day with some folks from Constellation Communication Corporation about event marketing and the lack of ROI and real leads companies generate and track from these costly events. Companies spend millions each year in one of the largest marketing budget items, but too often very little time is spent on pre- and post-event planning and lead nurturing."

TO READ MORE GO TO:


target="_blank" >Generating Leads and ROI from Event Marketing

Ed

Speakers vs. Event Objectives... Event Communications Effectiveness

This response was provided to a reader who questioned how to effectively work with high profile speakers, especially those who have handlers that often seem to "muck- up" the process:

A common misfortune in event execution is when a high profile speaker dictates or detracts from the purpose of the event. That purpose is normally to persuade the assembled group to go out and perform certain activities in an expected manner that will benefit the event host, such as a change in job behavior among employees or taking a step in a prescribed sales cycle among customers and prospects. A "big name" speaker is almost always a draw, but is not a guaranteed advantage once people are assembled and in your seats.

Many speakers I work with, including the famous and powerful, are happy to support your agenda if you find and call to their attention a nexus between their views and your objectives.

When I worked with Walter Wriston, legendary Chairman of Citicorp years ago, or George Will the columnist, the approach was the same. I read their writings and speeches for the past six to twelve months, identified their talking points that helped position our speakers and proof points in support of our overall objectives. When we met, I presented them with a range of "ideas" they might emphasize in a presentation, paying great respect to their ideas as a basis. I also presented the purpose and goals of our event, and a block diagram of the agenda, explaining exactly how and where they fit into the overall plan.

Generally, speakers and their support staff (speech writers, etc.) will be surprised and impressed with the preparation and direction provided to them and will be willing to craft something that becomes a powerful part of your program. Speakers will often thank you for making their job much easier. Speakers tell me the reason they sometimes give a canned speech is lack of any direction to the contrary.

There are exceptions, notably those speakers who insist on giving the same canned speech at every appearance. Their value is usually their celebrity. Hire them at your own peril. If you do, preview their talk and be certain that no part of their presentation will conflict with your agenda and identify the points they make that support your objectives, and can be reprised in presentations by your other speakers.

Entertainers are an exception too, although a similar brief has worked wonders on many occasions.

Ed Jones

Paper or Plastic? Should I Use Electronic Tools to Gather Opinions and Input from My Participants?

A recent electronic newsletter reader asked the question, "Should I investigate electronic tools for capturing input from my event participants or should I stick with paper?" Below is the response I provided.

As with most things in life, there are pros and cons to alternate approaches. Electronic interactive technologies abound today for capturing live, instant feedback. They range from touch screen kiosks, wireless or RFID handheld devices and even smart cards. Pros - The feedback is instant, even to the extent that you can modify the presentation that is actually in play! There is no data to enter after the event and the data is reported accurately as a part of the overall system. Cons - For the most part, these devices are programmed with a pre-conceived range of answers among which the participants pick and choose. Open- ended feedback is often difficult or time consuming to enter. Also, you may be limited to the number of devices on hand, which can cause a slow down in a busy exhibit environment.



Paper based surveys may seem old fashioned, but they can't be beat for having the guest take on the labor aspect of documenting data, and it provides for the most fluid response to open- ended questions. You might want to consider a simple paper survey when people are waiting for a presentation to begin, when you have very large crowds and when you want the visitors to tell you more than you might already know through their responses to open- ended questions. Paper is also the most inexpensive route if you are on a budget. Cons - Somebody has to read and enter all of that data after the event and turn it into a report! (Use a contractor) Also, sensitive information can develop "legs" and walk away from your exhibit, so guard those forms and the completed surveys.

Don't discount the value of waiting until after the event to gather input. You can simply collect contact data at your event and then re-contact people via an email notice and web based survey afterwards. This has most of the advantages of both approaches.

Live interview plays a role as well. If you really want in-depth information on who visited with you and their reaction and perceptions, hire interviewers to conduct live, random sample intercept surveys with visitors who have completed your event experience.

Ed

The Classic Chicken and Egg - Sales and Marketing

A fellow “EventPeeps.com" colleague asked this question - to paraphrase, I am tasked to sell but I think like a marketer and I know our leads are not high quality. Do I overlook my boss and concentrate on developing better marketing?

Here is the answer I sent her:

April,

Having been a sales person, sales manager, marketing manager, marketing consultant and now event marketing ROI consultant, I feel I may be able to shed some informed perspective on your delimma. What you describe is a situation that many of us are familiar with and the answer is probably a little different than you might expect.

First, there is no more important function in a company than sales, marketing included. The entire financial structure of a company begins and ends with the sales forecast and sales results. Therefore, most companies are unwilling to tolerate any slow down or redirection of focus from direct sales activity, even if the marketing needs work. The link between marketing and sales is a topic of discussion at every level. At worst it is perceived as a disconnect. At best, to build an effective marketing program where little or no good marketing exists is perceived to be a lengthy process. So your boss is coming from a perspective that he or she probably has little or no choice but to keep the pressure on direct sales effort. And, I agree to a point, that near term sales results come from a large number of contacts with prospects. If targeting is bad, the close ratio will be lower, so more contacts are needed. A classic catch 22.

Targeting is the key to effective marketing and sales. Effective marketing should result in placing well targeted individuals directly into an identifiable step in the sales funnel for your company. Prospects reached through your marketing must commit to a step (action) that your sales people will agree is a step in their process. If you do this, the proverbial gap between marketing and sales will be erased.

So what am I suggesting, 1) you must keep selling. 2) focus your marketing development activity on two things a) define and find the targets, b) interact with them in a fashion that commits them to a specific action that your sales team agrees with. Events are a good way to do this. On- line and direct marketing are as well. If you want more background on this my website has some case studies and papers in the Solutions Center section.

“http://constellationcc.com"

Good luck. I hope this was helpful. Drop me a line and let me know.

Ed Jones
President
Constellation Communication Corp.

“Goal Conversions” – A Parallel Concept from Web Marketing and Advertising for Event Marketing

Tie Your Face -to Face and On- Line Marketing Activity Together in New Ways . . .

Goals vs. objectives, an age old discussion, isn’t it? In the case of marketing events, the goal is to obtain a specific action, on the part of participants, that demonstrates transition from marketing contact to sales participation. I was reading a section on Google Analytics that deals with exactly this same concept, Goal Conversions:

“Goals Overview

What are Goals?
Goal conversions are the primary metric for measuring how well your site fulfills
business objectives. A goal is a website page which a visitor reaches once they have made a purchase or completed another desired action, such as a registration or download.

How can goals help me?
Once you have set your goals, you'll be able to see conversion rates and the monetary value of the traffic you receive. You can also define a "funnel path" for each goal. A funnel path is the path you want visitors to take to reach a goal. Defining a funnel path allows you to monitor how frequently visitors who begin a conversion process actually complete it.

Examples of goals include:
• "Thank you for registering" pages
• receipts
• flight itinerary confirmations
• "Download completed" page”

Source: http://www.google.com/analytics/reporting/goal_intro

The Google page also includes a link to additional material on how to set up funnel and goal pages that work together. In the course of an event, every activity or step, starting with direct marketing, presentations and demonstrations and ending with a commitment for follow-through, are funnel steps leading up to goals.

Goal activities are those that demonstrate specific participation in a sales step or have resulted in a sale. You may have many goals, perhaps differing by types of visitors or products. You may find multiple ways of demonstrating that a prospect has moved solidly into the sales cycle. This is a very useful concept for event strategy and may help you tie your on-line and face-to-face activity together in new ways.

Call us if you have questions or would like to discuss. +1.770.391.0015.

Managing Executive Perceptions - More on Visual Presentation of Data (Dashboard)

(You may click on the charts to review full size. Use the back arrow to return to this point.)

I often emphasize in event measurement lectures that keeping it simple is one of the keys to success. This is especially when you are presenting justification data for an event. One tactic that is working well is to simplify planning and measurement objectives down to seven or eight key accomplishments and present them in very simple, pictorial ways.

We call these simplified measurement plans “Dashboard” reports. I know the "dashboard" concept is verging on overuse these days, but there is a reason for popularity of the concept. It tells almost anyone in the organization, quickly and easily how well key planning objectives were met.

You will note in the example charts, most of the actual event results are shown compared to a "performance average" (baseline) developed over the previous plan year. We are finding that this approach simplifies the process, pinpoints accomplishments and generates a lot fewer questions on both ends - event planning and reporting.

Please call us if you have questions. +1.770.391.0015

"How Do I Get Started?" FAQs and Some Answers

Getting Started on A Structured Measurement Program

People ask me frequently, “What is the best way to start up an event or trade show measurement program?”

You can start your own program in a three ringed binder or a spreadsheet program such as Excel. Make a tab (or worksheet) for each of the four main categories of value; "Sales Impact," "Customer, Prospect and Partner Relationship Management," "Cost Savings/ Expense Avoidance," and "Promotion Value." Start to fill each tab with any examples of revenue increase or expense reduction you can document for that event. Market facing events usually produce value in all four categories. Internal events produce value in one or more of the four. A non-sales related internal event may not have a sales impact or customer relationship component for example, but it should have a cost reduction (profit improvement) component. Business profitability is simply, Revenue – Expense = Profit. (There is an interesting article on the behavioral aspect (employee behavior) of profit improvement focusing on the equation People x Process = Profit, The article is available at http://www.acpavlik.com/BizSol/Articles/profeq.pdf . This is a good read for understanding how to look for value in job performance and process improvement.)

Be creative in how you identify value. Get agreement from others within the organization such as your sales team, the PR folks or the advertising folks. Ask them to help you identify value derived from the event. You may discover that they are interested in protecting the event as well and have their own objectives for participation.

You can access a re-print of my article, “How to Measure the Value of a Trade Show Program", “Exhibitor Magazine”, March, 2005, for a much more in-depth look at how to assess and report value in these categories., “Exhibitor Magazine”, March, 2005, for a much more in-depth look at how to assess and report value in these categories.

Of course there are more sophisticated support tools and resources available if you find that, although you do not have the time available, you need to prove justification and identify improvement opportunities. In-depth measurement is easier than ever because web based surveys, event ROI modeling and database tools are available from capable providers. You can also employ these tools to compare events and decide in which ones to invest and how much to spend.

Don’t hesitate to start on your own measurement program. This is truly a “one step leads to the next” proposition. You may start small but the success you enjoy will make you a “manager of the business” in addition to a manager of events.

Do not hesitate to call with questions.



Another frequently asked question regards application of our evaluation services: “How does Constellation provide professional assessment on different levels of events. i.e. small ones vs. the largest events?”

We offer three basic levels of support for identifying and reporting value from events of differing sizes and scopes. Plus, we offer an internal review by staff and stakeholders involved with an event. Each of these evaluation levels result in your performance data being added into an event marketing performance database unique to your company:

1) Consultation (telephone) forecasting and review of actual results, including one hour before the event and one hour afterwards discussing last minute strategies and reviewing results.

2) One day, on-site evaluation where a consultant observes and reviews everything from your fit within the overall event, staff engagement skills, messaging, etc.

3) Two day, on- site evaluation with 50 random sample interviews with your guests who have completed their exhibit or event experience.

4) Three day, comprehensive review that includes 100 random sample exit interviews, assessment of your competitors effectiveness and level of expense and much more detail on your staff and messaging and demonstration effectiveness.

5) The Staff and Stakeholder Review determines how the people who funded and worked the event assess both the marketing opportunity afforded to your company and how well you worked that opportunity. Should you repeat this event next year, and if so, in a larger or smaller format? Ask your staff. You will be surprised how many times they are already aware that a change is needed.

All of these approaches are built upon the Constellation Event ROI performance model that builds a database of your results and provides the basis for quarterly and annual analysis and documented support of future planning.

If you are interested in a large scale, sophisticated approach then please contact us directly to determine your needs, and to provide a proposal, scope of work and budget for a program that will take your events to a profitable level.

Ed

“How to Rescue a Worthwhile Event” - (The time is right to review this need) - CASE STUDY

Daily we see signs that the current economic influences, high fuel costs and the rippling effects of the lending crisis are inhibiting decisions to move forward with big events, particularly high priced ones. In some cases, events have been cancelled. Unfortunately, events are often viewed as an easy target for cutting cost. Why, on reason may be that events are not seen as a direct influence on near-term business improvement or stated another way, there may be little fear that negative business impact will result from event reduction or cancellation. This may be affecting you right now. So, what can you do about it?

Protecting or rescuing an event depends upon identifying the payback streams flowing from your event. The number of streams and the amount of payback may surprise both you and the boss. When an event that you believe is a positive, productive influence on business is in jeopardy, it is time to identify the payback streams and make the case to continue or discontinue it based upon the impact on the bottom line.

You can read a case study on this very topic called “Cancelled, End of Discussion.” It is about a multi- million dollar sales incentive travel program that was cancelled by the chairman of a Fortune 50 sized company. His cancellation decree came mid- year, for exactly the same reasons we have cited, to cut cost. As the current program neared its’ final conclusion, a comprehensive event measurement program proved its’ worth and potential negative impact on the company if it were to be discontinued. The chairman, not known for changing his decisions, reinstated the program and increased its scope.
If this interests you read the case study found in the Solutions Center section of the Constellation website http://constellationcc.com or go directly to the document at http://constellationcc.com/cancelled.pdf .

So, what can you do if you have a good event that is in jeopardy? Mount a campaign to save it. Any event can be analyzed on a forecast basis (before the next occurrence), on a post-mortem basis (based upon the last run) or on an actual (current) event evaluation basis to determine its potential for value. This analysis will also provide prescriptive steps to increase value of an upcoming event to deliver more value to the bottom line. The output is a presentation to senior management that clearly delineates the business results associated with the event and the results that flow from it. Once the magnitude of the results is determined, the decision becomes an economic one, not an emotional one.

If you are a corporate event manager or director, consider mounting a campaign to save a productive event. If you are a provider, such as an event production agency or exhibit house, consider supporting your client in need with event measurement and ROI support. The result will be not only the potential salvation of a productive event, but a change in the way events are viewed internally by the company.

Call me at +1.770.391.0015 or email me with questions or to explore a rescue mission for an event you know is worth saving.

"No Leads Are Qualified If You Haven’t Talked to Sales" - Pre- and Post- Event Marketing, the Keys to Getting ROI on Your Event

Today I had lunch with the CEO and Chief Sales and Marketing Officer for a leads development and management company called FirstWave. Naturally the conversation turned to the quality and results associated with leads produced through events and thoughts on how the two topics identified in the title of this post are inextricably linked.

In marketing, our job is to create sales opportunities and improve the probability of sale. Good sales opportunities are only those that involve the right people, i.e. those that can buy or those who are influential in the buying process. The truth is we waste a lot of time and money on the incidental visitors to an exhibit at a trade show or the disinterested participant at a festival event. Why, because we have always done it that way. Today, more than ever before, we have effective, inexpensive means of identifying and attracting those who are most qualified.

At lunch my friends from FirstWave told me something interesting. We all know how confounding it is when event organizers will not divulge detailed contact data on your targets. After all, we are paying for the event as sponsors and exhibitors! Guess what? (and you need to keep this among us) FirstWave routinely identifies email addresses with only a name, title and company. That level of information is often provided by event organizers. Now, last year’s list can become part of this year’s pre- event, direct marketing database. Why only part of the base?, because you will add you own updated contacts collected from all other marketing tactics. Why not identify and market to everyone who fits your target profile that could conceivably have an interest in the event, even if they will not attend. An event provides a reason for focused contextual contact, regardless of intent to attend. The post- show list becomes part of your post- event follow-up base. This is great stuff, if you are one of the smart event managers actively focused on pre and post event marketing work.

Back to the conversation with sales - if you don’t know what your sales team considers a qualified lead to be, you are doomed to have your leads disregarded, and perhaps your own lineage impugned. Worse, these leads are not going to produce any ROI.

According to Marketing Sherpa, only about half of marketers surveyed worked directly with sales to define a lead. If your sales management defines a qualified lead as a person who fits a particular profile (by company type, company size, functional responsibility, and title), who is committed to a specified step in their sales process and includes the necessary contact information, your job is considerably clarified and your planning refined. Your key measure becomes how many committed leads did you provide to sales. And, they can tell you the worth in eventual sales for those leads immediately upon receiving them, based upon historical close ratios and average value of sale. Voila! You can report that you contributed $XXX thousands (or millions) of dollars in sales opportunity, and the sales team will back you up!

So before your next event, consider a conference with the sales team and define two things, 1) Who do we need to see?, and 2) What do we want them to do during and after the event? Use those answers to design your event strategy and also to drive the creative brief. Why?, because you only need to show and tell your participants that which is necessary to gain their commitment to act. You can leave the kitchen sinks at home.

Dig deeply on these questions. Ask sales for a very detailed description of who they can sell most easily and or most profitably. What are the titles or departments in what type of companies where they are having the greatest success, etc?

Also, ask sales what you can accomplish at the event or trade show that will eliminate one or more sales calls in the field. After all, when you get the right person into your chair or in front of your demo at an event, you have already by-passed a considerable amount of effort required to simply to identify and make initial contact with that person.

Keep track of the leads you hand off to sales and keep track of those you have seen at events. You might be surprised how often you see the same people. This can be a good thing if the relationship is maturing in the process, or a bad thing if people are simply mooching on your hospitality. Using the types of leads maturation and development services we discussed with FirstWave at lunch, you can keep a lot tighter tabs on how your leads are progressing. Also, by tracking who visited you throughout the year, random sample research can tell you exactly how many of your leads converted to sales and for how much revenue.

Establishing a continuous post event communications stream and contact maturation program is considerably easier using electronic media, such as newsletters, on-line, interactive presentations, education, briefings, resources such as white papers, and tools such as configurators or evaluators.

Finally, Marketing Sherpa recently published the following survey data on inquiries and leads:

• 17% of inquiries are designated qualified leads
12% among best practices companies (yes less if more)
• 34% of qualified leads turn into prospects
40% among best practices companies
• 16% of prospects end up as closed sales
20% among best practices companies

If you do the math, on average, according to those marketing managers who responded, 9.25 sales result from every 1,000 inquiries, or from 170 qualified leads. That is approximately 1% (.925%) of inquiries or 5.4% of qualified leads. For best practices marketers, .96% of inquiries will close (about the same) but 8% of qualified leads result in sales. Quite an increase. Marketers who use target marketing techniques and have a tight definition of a qualified lead take fewer leads and close more sales. There is less clutter added to the pipeline and less work overall.

To sum up, there are three main ideas here regarding how to make money on leads generated from events:

1) You have to get the right people into your event, pre-identify, invite and attract them. If you don't you are holding some expensive open house parties.
2) You must have a tight definition of a qualified lead, one that is ordained by the sales team, and
3) You must work the "market" as much as you do the event logistics. Use the great new tools available to do your pre- and post-event marketing. Digital tools make prospecting, targeting, attraction, post- event lead re-qualification, and contact maturation and conversion a structured process that requires less effort to accomplish. (Lead re-qualification is a good topic for a future post!)

Thanks for lunch to FirstWave!

Call me if you have questions or would like to discuss this or anything about event measurement. 770-391-0015 or visit Constellation Communication Corp..

Pictorial Presentation of Results Drives Discussion, Change

Presenting performance data pictorially really clarifies improvement opportunities, especially when others in the organization must be convinced to change the status quo.

We have been working on a pictorial representation of what we call the Key Performance Indicators Baseline for our clients. The Baseline is developed from the measures on all evaluated events over the course of an entire year. These averages become management reference points and each event will show metrics that are above, on or below those averages. When a performance metric is below average, it warrants investigation or explanation as to why. In many cases a company may have chosen to spend more than an average spend to launch a product, support an association or hold an associated meeting.

I have included a couple of example charts here. Look for the highs and lows. Also, look for the difference between high and low performance on different measures. If you have questions call me. 770-391-0015.

Have Some Useful Fun - Take the Event Marketing Self- Assessment

I just updated this tool. We have put this to work for several exhibit and event houses and numerous companies. The tool is a self-diagnostic of how well you company does event marketing. At the end you get an instant report of "Best Practices" and "Opportunities for Improvement." (Seems I used to get a lot of those from my bosses in the old days.)

What have you got to lose - go ahead and take it.

http://constellationcc.com/assessment

This makes a great team builder too. Have every one on the extended team take this to determine where you guys agree and disagree about how well your company goes to market through events. Call us if you think that might make a great meeting or off-site topic.

Ed

770-391-0015

New! TS2 Seminar - "How to Manage Executive Perception of Trade Show Value!"

Mike Olson, Events Manager for Raytheon and Ed Jones will present a brand new case study on how to successfully manage executive perceptions of event value. The seminar will reveal how real world measurement can change how trade shows are perceived and re-define their role in the company. Get a peak at one of the most complete and effective measurement programs in industry today.

Join us at TS2 for this exciting seminar. Wednesday July 30, 4:30 - 5:30 PM.
Sign up now. See you at TS2!

Ed

Margit Weisgal to Head TSEA - A Good Move

Margit Weisgal was named the new Executive Director of TSEA last week.

This is a great move both for her and the organization. Margit is a true industry veteran. Margit worked with Ed Chapman at Sextant. Ed was a bit of an icon, having run all of the programs for AT&T when it was still among the world's largest companies. Ed wrote one of the definitive books on Trade Show Marketing and was a great influence on me. He asked me to contribute several pieces for the book. Ed died last year.

Margit is a "get-it done" kind of person. She knows her stuff, is firm and completely likable at the same time. I think she will be a great influence on TSEA. I plan to help Margit in anyway possible.

Ed

News Release - New Identity for CCC!

For Immediate Release

Constellation Introduces New Look, Information Resources

ATLANTA - Constellation Communication Corp. introduced a new corporate identity this week. The makeover included a re-designed website http://constellationcc.com, new blog http://constellationcc.blogspot.com and a quarterly email newsletter. All of these communication tools are designed to share useful ideas and updates with the events and marketing communities.

“We have a new look and feel to celebrate our 21^st anniversary in the event strategy, measurement, and ROI business,” said Ed Jones, president of Constellation. “Our goal is to make valuable information available at any time through the website, blog, and newsletters.”

The new logo preserves Constellation’s established identity and conveys the clean efficiency associated with measurement and improvement for events. The frequently asked questions (FAQ) section of the website is particularly useful in helping those who are new to event measurement understand how to get started and what to expect.

Constellation provides case studies, examples, articles and papers in the "Solutions" section of the new website.

“We feel we have more to share than ever before! We are glad to have all of you as readers,” said Jones.

Constellation is a leading event planning, measurement and ROI consulting firm serving the tradeshow and events industries worldwide.

For questions, please contact Kristen Towler at +1.770.391.0015.

Five Game Changing Ideas for Getting Payback on Events - Continued

Five exciting game changing ideas are playing a major role for our clients and those interested in improving payback on their events in 2008. These ideas have evolved from our research and evaluation of events to determine what factors most influence success or failure, and from collaboration with our clients on event planning and measurement.

What is exciting is how these ideas make a tremendous contribution to justification of event expenditures, play a significant role in changing the perception of events among wary, top tier executives, and simplify planning and reporting not only for the events you may manage but also for those members of your extended team who may be running smaller, remote events independently.

So what are they? Five game changers are introduced below. Some apply to market facing events and some apply to all types of events. We will write more on each of these concepts in our blog and in papers and articles in the coming year.

Game Changer #1 - Make one on one, face to face meetings with high value contacts a top tier objective for market facing events.

I have concluded, after twenty years of analysis, that there is no greater or more consistent influence on positive ROI than that gained from pre-arranged, face to face meetings with high value contacts during a marketing event. Why? These are the people that write checks to your organization, and the cost savings of meeting lots of customers, prospects and partners at one event, at one time can often off-set the entire event investment. If one of your main goals for event marketing activity is not a targeted number of pre-scheduled, face- to- face meetings between your executives and high value contacts, then reconsider your next plan immediately.

Game Changer #2 - The surprising value of event the related PR. Plan for “PRO Value” to justify you staff T&E, if not the entire event.

Most events, even internal ones, can generate PR, before, during and after the event. We refer to these PR outcomes simply as "PRO.” Tracking the PR hits and estimating their value has produced some surprising findings. For example, PRO is often large enough in value to cover the expense of all staff T&E, even for a large event. In some cases, PRO value may justify the entire event budget. Making PRO a top tier event objective has served to bring advertising, PR, corporate communications and events teams into much closer collaboration and focus on events as a communication opportunity. Highlighting PRO and the value associated with it has also resulted in enhanced perception of events among cost sensitive executives. One of our clients attributed $10 million dollars in media value to the PR associated with their annual conference.

Game Changer #3 - Use simplified reporting to simplify planning

We developed a "dashboard" approach to reporting event results last year. We think the more important result was the influence it had on simplifying event planning using the same structure. Our client identifies seven or eight key accomplishments applicable to most events. Smaller events may incorporate only three to five of the key objectives. The largest "diamond events" usually incorporate all of them. This helps define the “tiering” of events for the company. Each major objective is further defined by usually two subordinate objectives that demonstrate accomplishment of the key goal. The executive summary report (usually one page) shows a gauge for each measure, indicating our performance against the goal.

Using this simple structure for planning has given many event managers a really sharp tool with which to focus their internal clients on things that matter most. This has been particularly helpful for those who have little or no events background and are responsible for reporting results.

Game Changer #4 - Overhaul your communications, messages and signage to be persuasive

One of the greatest reasons for failure to deliver a return on investment on an event is ineffective communications. Meeting participants leave without a clear understanding of what is expected of them. Many times, trade show visitors can not determine what business a top tier exhibitor is in or how it might benefit them even through careful study of the exhibit. In either case, ROI is elusive if not impossible to obtain. Why, because no one is persuaded to act. Businesses invest in communication activity for only one reason, to influence behavior of targeted individuals. Business communications must therefore be “persuasive” by definition. This is the supreme test and the ultimate design criteria for all types of events. (I teach a new course on event communications that addresses this topic in complete detail.)

Game Changer #5 - Establish a performance baseline for managing and improving your events

Tracking the performance of most or all events over an entire year produces a performance baseline that you can use to great advantage. This set of totals and averages proclaim the aggregate accomplishments of your event program for an entire plan period and provide targets for comparison and improvement. For example, “we made 1,600,000 impressions among targeted individuals with our product and brand messages”, or “we produced 126,000 square feet of exhibition space at an average cost per square foot of $187.30.” Good stuff! These baseline numbers provide the best targets for managing and improving performance at future events.

Bonus Game Changer - Analyze the target market available for each event and implement a pre-event marketing program to attract high value individuals. Tailor your event communications to their interests and needs.

This is somewhat related to idea 1, in that in order to invite high value contacts to visit with you and your executives at events, you must know who is addressable through the event. This idea is not really new, but our observation is that too many companies are not doing this on a regular basis. This concept needs to be applied to internal events as well. A recent case study demonstrates how including too many lower level participants diminished an important leadership meeting. More to come on this topic!

For more details on these topics and more, visit our blog (constellationcc.blogspot.com or access the blog directly from our homepage.) Our website contains case studies and articles on these topics and more. Visit us at http://constellationcc.com and look in the “Solutions” section.

Lecture Update - Branding and Events

Subject – Course Updates “How to Create Event Communications that Attract and Sell Customers. . .”

(I am repeating this here because I believe these points have general value)

From: Ed Jones, Instructor

I hope you all are doing well.

Update and Clarification of a lecture point -

Brand, Sales and Events –

On the course evaluation a student appropriately questioned why I suggested that brand was somehow less important in sales of a product or service. He pointed out that brand is, in fact, a significant influence on sales and I completely agree. I misspoke, in an effort to emphasize a point.

My intent was to emphasize that marketing events should link directly to the sales process and require a mix of elements of all sorts, including, but not limited to brand. Brand is an essential element of content and design in all cases and is a top tier objective in most cases. In fact, on many client programs, brand building was the primary objective for certain events.

Brand guidelines should not interfere with effective event communications, but event communications should adhere to and reinforce the brand. Don't let the tail wag the dog when the objective is to directly create sales opportunity.

Information on branding and positioning were included in the final slides and your handout for just that reason. In those slides, branding is defined by Walter Landour and others and positioning is defined by Al Ries and others. These concepts are an important part of event communication strategy. You may want to do additional research independently on these topics.

I hope this course proves valuable for all of you. I heard back from several students who made immediate changes in their approach. One even called back to the office after the seminar and revised a work in progress! Good luck and call me if I can answer any questions for you.

Also, Some of you asked me or in your evaluation about how to go about setting up an on-site seminar or facilitated workshop for your extended team. If you have that need, please contact me directly. edjones@constellationcc.com, 770-391-0015.

Sincerely,

Ed Jones

Updates on Estimating and Valuing Impressions at Events

More on Estimating Impressions

This refresher was sent my students in the "How to Measure the Value of Tradeshows" courses at Exhibitor Show 2008. That course is a core requirement for Certified Trade Show Manager certification. I thought some of you may benefit from this information:

Clarification of a lecture point - How to Estimate Impressions and the Relationship Between Gross and Targeted Impressions –

Definitions -

• Gross Impressions are those that fall on the eyes and ears of anyone, target or not.

• Targeted Impressions are those that are seen or heard by those fitting one or more of your target marketing profiles. Therefore target impressions are more valuable, but gross impressions still have a value.

• Targeted individuals are generally a subset of overall event attendance (usually in the 30 – 50% of reported attendance range. This can be a much higher concentration in medical shows for example, where MDs are the participants. Any event with a registered base of attendees makes it a lot easier for you to identify who is target and who is not and to estimate the types and number of impressions.

If your company pays to advertise, then this value is real and is a contribution to the bottom line.

Estimating Impressions at an Event

Impressions are made in four main ways:

1) Direct marketing before and after an event (how many people in how many waves)

2) Media associate with an event such as website, video, magazines, show guides and dailies.

3) On-site promotion – such as your speakers at seminars and workshops, publicity for those workshops, sponsorships of various program elements, banners, billboards, bags, credential lanyards, etc., etc.

4) Exposure to your exhibit or space.

Most often advertising is funded in a separate budget. If not, then it falls in item 2 – media.

How do we estimate – we simply count, estimate or guess depending upon the circumstances. (Don’t freak out, event the best advertising and PR teams do the same for event related exposures and circulation hand-offs etc.)

Let’s consider one example for each of the four elements above.

Our case study event is attended by 40,000 people, of whom 50% meet one or more of our target profiles. (These are new examples not the examples used in the original course.)

1) Direct Marketing – before the event you sent 10,500 mailers to targeted individuals registered for the event. Gross impressions = 10,500, of which 10,500 were targeted.

2) Media – Your company was featured on a show website banner ad for three months leading up to the event. The estimated daily traffic was 3,000 individuals (usually given in hits). Your banner was so prominent as to not be missed. Your banner was seen approximately 25% of the time (1 in 4 rotation.) Gross impressions = 90 days x 3,000 individuals x 25% exposure for a total of 67,500 gross impressions. 33,750 of those impressions were targeted (50%).

3) You sponsored the on-site registration area at the event. It was utilized by approximately 50% of the 40,000 attendees. Your presence was so strong as to not be missed. Gross impressions = 2 to 3 impressions per individual (due to multiple graphic elements) x 20,000 individuals using the area (50% of attendance) for a total of 40- 60,000 gross impressions. 20 – 30,000 were targeted.

4) Exposure to the Exhibit or Space - Your exhibit was off to the right but near the front of the hall. You had superior height and neon backlit identity graphics. Your exhibit could be seen by everyone who entered the hall. Most of the 40,000 came by your exhibit, some not, but others did multiple times. An estimated 40,000 people saw your exhibit and brand and product messages. Due to the superior height and backlit presence, we would estimate another 40,000 exposures were gained (this is a pure SWAG “swinging wild- assed guess!” – but you can discuss it with your communications folks and use whatever they were comfortable with. Or your can utilize research and pin down statistically what your level of awareness and recall or share of voice was for the event.) Gross impressions therefore total = 80,000 (probably a low ball because of the multiple exposures that were likely), of which 40,000 were targeted.

These impressions have value. Get your communications folks to tell you what the cost of gross impressions and targeted impressions are for trade advertising in your business (if you are B2B) and through consumer advertising if you are in that market. B2B impressions are generally worth (i.e. cost) more. Use $240/1,000 (CPM) for gross impressions as a starting point, and $570/1,000 (CPM) for targeted impressions. These are averages I have noted among our clients in various B2B markets. Consumer impressions can be very low value/cost and sometimes have a lower average value of sale associated with them. Use $.05 to $.25 each for gross impressions ($50 - $200 CPM.) Targeted consumer impression values can be a little tricky as targeted impressions may equal gross impressions when almost anyone can buy your product, such as is the case for Home Depot for Ford.

You may want to do additional research independently on these topics and I strongly encourage you to talk with those who do the advertising and PR within your organization.

Thanks to the students who asked for more clarification, giving me the opportunity to clarify it with all of you.

I hope this course proves valuable for all of you. Good luck and call me if I can answer any questions for you.

Regards,

Ed Jones

770.391.0015

edjones@constellationcc.com

P.S. Some of you asked me or in your evaluation about how to go about setting up an on-site seminar or facilitated workshop for your extended team. If you have that need, please contact me directly. edjones@constellationcc.com, 770-391-0015.

Game Changers

2008, perhaps more than any year before it, comes with new and exciting topics that are changing the game with our clients. These new topics have elevated the results we are getting from our strategy and measurement activities. You are likely to find these subjects frequently discussed in this blog during the first half of 2008. Quickly here are the topics. I will deal with these in more detail in future posts.

1) Simplified Measurement using a "Dashboard" approach - typically eight major goals with two objectives for each goal. The big benefit, a considerable increase in executive understanding and acceptance, and a big improvement in planning clarity.

2) PR Outcomes (PRO as we have deemed it) emanating from events. This value is surprisingly large! and is a big part of cost justification for market facing events.

3) Staff and Stakeholder reviews after every event. Those who have the biggest stake, those who fund and those who participate in an event have extremely important, first hand feedback to share, and can identify most easily the improvement needs going forward.

4) The extraordinary value of pre-scheduled and ad- hoc 1:1 meetings as a major goal for all market facing events. After twenty years I have concluded there is little activity more valuable than 1:1 meetings with high value contacts, from customers, to prospects, partners, alliances, press, analysts, delegations and others who can affect your business by millions of dollars.

5) Improved communications. Another conclusion after twenty years of observation is weak, ineffective communication strategy is one of the major reasons for failure to attain a profitable outcome from events of all types.

So, if these topics interest you or may help you manage your efforts to make your company more successful tune in here, and share your reactions and ideas.

Ed

Team Blog for Constellation - News You Can Use Regarding Events

It is March 5. 2008 and we are happily joining the blogosphere!

With this Constellation team blog, we hope to capture at least a few of the thoughts and ideas we share daily among the team. Our intent is to pass along useful, creative ideas to anyone with an interest in creating and managing events that deliver big time impact.

(If you are new to Constellation, please visit http://constellationcc.com for background. We are a twenty year old consulting and research company devoted to helping our clients determine if they are making money from their events. If not, we help them identify and make the necessary changes to have a profitable impact on the company. Out goals are justification, growth and continuous improvement of events of all types, and elevation of the role and stature of those who create and manage events.)


Ed