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.