Event Measurement and Return on Investment

Measurement Tip 8

2011-12-21T09:43:00.003-05:00

Understanding The Critical Success Factors for Event ROI

1) The right participants, 2) the right messages and 3) the right action are the three essential elements of any successful marketing event. Getting these right will deliver a positive return on your event investment and provide you with results you can measure.

I often spend time with clients discussing "Three Critical Success Factors" essential for trade show return on investment. The three elements of a trade show and event marketing program must be accomplished in order to achieve strong results.

1. You must attract enough of the right people to your exhibit or event (i.e. those individuals who can actually benefit your business)- 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 per-scheduled, face- to- face meetings with these targeted individuals to discuss mutually beneficial approaches to dealing with market opportunities. 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. Broaden your idea of a "target" to include suppliers and alliances. Interactions with these targets reduce the cost of materials or logistics and contribute directly to the survival of the business.
The key measure is the number of engagements and meetings with high-value contacts at your event.

2. You must deliver compelling messages that motivate them to act- You must deliver compelling messages that motivate your participants to act. Your messages should be persuasive. Participants must “feel” that taking the next step with your company is the right thing to do. The key measures are the research into perceptions and recall of key messages and the number of participants who commit to a follow-up.

3. You must obtain actions from the participants that tie directly to profit improvement for your company (either an increase in revenue or reduction in cost) - You must have a specific outcome (step in the sales funnel) in mind for these targets and they must embrace it. Remember it is usually what happens after the event that delivers payback. So, your post-event plan is just as important as the event plan. Keeping all of these targets continuously engaged in a communal relationship with your company is essential.
The key measure is the number of visitors who participate in the designated next step.

The short, easy way to remember the critical success factors for an effective event goes like this:

The right people

The right messages

The right actions

If you miss any one of the three, you are not likely to justify your investment in the event. As you can tell, they must be executed somewhat in order. That is why pre-event and post-event activities are at least as important as event execution.

These ROI related success factors were developed from years of working with clients to create a solid bridge between sales and marketing. They are the core of an event measurement and return on investment philosophy. Of course, many other things must also go well for a successful result.

Measurement Tip 7

2011-12-05T09:40:00.001-05:00

Use the Payback Ratio to Report and Compare the Value of Your Events

A great tool for conveying the value of your marketing events is the payback ratio. This is the ratio of the total value of estimated revenue, cost savings and promotion value gained through event activity, divided by the event cost. It is expressed as $ Total Value/$ Event Cost, for example $.42/1. The payback ratio serves not only as an indicator of event efficiency, but also as a useful way to compare past, current and future events.

The payback ratio is based upon estimates of the four main categories of value derived from marketing events:

1. Revenue (or gross profit margin) from the Sales Opportunities Afforded by the Event – This element of event value is cited most often, yet difficult to document. Often, many people are involved in many steps required to close a sale. And, the sales cycle may span years. It is possible to estimate probable revenue impact using internal assumptions, such as a “close ratio” associated with well-qualified event leads and an “average value of sale” for sales from those leads. The best approach is to discuss these assumptions with your sales team and get their agreement. It is also best to have the sales team define the “next step” expected of people who become leads through interactions at an event. Use “closed loop” systems such as sales automation, warranties, registrations and other types of tracking aids where available.

2. Retention and Growth of Current Revenue Base - Customer Relationship Management (CRM) is critical for virtually all organizations. Existing customers and their revenue are the usually the most profitable. I have companies criticized for devoting event marketing resources to interaction with existing customers, yet I would suggest this is one of the most valuable elements of a profitable event. Keeping customers up to date, reassuring them that their needs will be met, and thanking them for their business has a direct and measurable impact on retention and profitability.

Just as most companies have a recognized cost of sale, there may be a recognized cost of CRM. A significant percentage of that cost/ value may be accomplished through event activity. For example, a company might spend 5 or 10% of account revenue on customer service/ retention activity. For example, your company might estimate the value of an executive customer dinner held during an industry event,at 1% of your overall CRM effort for those customers for the year. The value estimate would be $.001/ dollar of existing revenue among customers seen at the event. This may not sound like much until you consider that these revenue numbers can be in the hundreds of millions dollars for a large company. For smaller companies, the impact of such an event is likely to be a much higher percentage of the overall CRM effort. Sometimes these event based “customer events” are the major CRM activity for the year, so a range of 20% or more may be reasonable.

Accomplishment of CRM goals is valuable for companies large and small and contributes to event value. Discuss how your company might determine a value of CRM activity accomplished at marketing events. Don’t forget to take credit for the cost savings made possible by using the event as a time and place opportunity.

3. Cost Savings/ Avoidance- Substantial cost savings and expense avoidance may be achieved through trade show activity. Events present “one on many” and "many on many” opportunities. This element of value is the most tangible and traceable source of ROI on an event. Large numbers of people in your "market universe" may be gathered in one place, thinking about the same concentrated range of topics. Prospects, customers, suppliers, allies, analysts, press, executives, sales, product management and marketing are all at a single event, usually at their own expense. The number and types of potential interactions are huge. Your event plan should have specific tactics to maximize the time, place and focus opportunity made possible by the event.

Be sure your activities at your next event are aimed not only at the income side of the profit equation, but the cost side as well. To make these benefits happen requires dialogue with those managers who can take advantage of the opportunity your event provides. They may also help you estimate the value of doing multiple things at an event instead of doing them one at a time in the future at additional expense.

Reporting these results in your event measurement report will add credibility and financial justification for your investment beyond the primary goal of increasing sales.

4. Promotion Value – This is often the least reported source of ROI, but promotion value at a marketing event provides real, identifiable value. Promotion value may be calculated using “ad equivalency” values, which are derived from what an equivalent advertising cost to accomplish a similar promotional impact would be.

It is less popular today to use “Ad Equivalency” values, although I believe it is undeniable that exposure through an event has at least the same value as that derived from paid advertising. However, it is still useful to report promotion value in terms of total impressions made at marketing events and to make comparisons with the exposure of your company versus that of your competitors. “Gross Impressions” are those that fall on the eyes and ears of anyone. “Targeted Impressions” are those that fall on the eyes and ears of those who fit your target profile. The total impressions are the sum of all gross and targeted impressions made as a result of show budgeted activity. These actives often include promotion activities in direct marketing, media, show exposure and exhibit exposure.

Discuss how you might value the exposure generated for your company with those responsible for corporate communications, advertising and PR.

Once you have identified and estimated values for some or all of the four elements of value, add them up and divide them by your event cost. The result is a useful index of event profitability or return on investment.

Using the payback ratio as an index is a great way to convey the value of your marketing events. The payback ratio provides qualitative and quantitative analysis of events and often times helps to more easily facilitate a discussion with executives. Remember to use the payback ratio as a simple measure of success for your event marketing program.

Measurement Tip 6

2011-10-28T09:15:00.006-04:00

"Sales Opportunities" Are an Effective Measure of Marketing Success - and May Help You Ease the Gap Between Sales and Marketing

I have often said that the sales team is the primary customer of the marketing team. The marketing function is primarily focused on creating sales opportunities and improving the probability of sale for the company. This is for good reason. In most companies the pressure for sales results is constant. The entire financial strategy for a company begins and ends with the sales forecast and sales results. That is why so many companies put such a heavy emphasis on leads, using the number of leads as the primary measure for trade show success.

For those reasons, most companies would like to correlate actual sales results with event marketing activity. This is possible for some, but impractical for many. Some companies take orders on the show floor. That situation is easier, the measure of success is the total value of the orders written. For many others, sales occur long after the event is over, and often through one of more layers of channels, making it difficult if not impossible to track. Add to that, a multi-year sales cycle. In the defense industry the sales cycle may be a decade or longer from initial engagement to sale. Also, converting a lead to a sale often requires significant participation by the sales team, presenting the question of how much of the eventual sales value is attributable to having made the initial contact and engagement with a prospect at a trade show?

Of course there is a lot more to be gained at trade events beyond generating leads, however for this discussion we will keep the focus on the link between marketing and sales. At worst this link is perceived as a disconnect. At best, marketing is seen to have a direct influence on the level of sales. For example, a call center might be known as a marketing function, but if they write orders they are a sales function. Therefore, it is worth considering if a trade show effort should be evaluated on the ability to generate bona fide sales opportunities for nurturing and closing by the sales team.

The most basic question that must be answered by the sales team is, "What do we want a qualified visitor to do as a result of engaging with us at an upcoming show?". The answer must be a specific step that is feasible and will involve a targeted individual more deeply in the normal sales cycle and to a point where the certainty of a sale can be estimated. So, it follows that the simplest measure of success might be how many real sales opportunities were generated by activity at this event.

To go a step further, we can place an estimated value upon the sales opportunities generated by gathering some additional input from the sales team. To estimate the value of the sales opportunities (aka leads counts) you will need to know two things:

1) What is the estimated percentage of your committed leads (i.e. people who interact with your staff and make a commitment to a specific follow-up action such as a sales visit) that eventually result in a sale? This may be known internally as the "close ratio" or something similar. Ask sales for this number, and remember it will only apply to real leads that represent a targeted individual who actually takes the next step you specified.

2) What is the average value of a sale that results from a committed lead/visitor from this show? Again, the provider of this information is the sales team. They will also explain how they prefer to view this value. Valuation perspectives might include initial contract value, annual value or a continuous service, lifetime value, etc. Service businesses may use the value of revenue over a period such as a year or more.

In planning for next year’s event cycle, take time to make an appointment with the sales team and jointly define the measures of success for your event marketing program.Effective targeting and attraction are prerequisites to an effective sales activity. These are within the domain of marketing. Engagement is the activity that begins to span the marketing and sales functions. Engagement should result in moving well-targeted individuals directly into an important step in the sales cycle for a company. Prospects reached through marketing activity must commit to a step (action) that the sales people agree is an important step in their process. If this agreement is reached, the proverbial gap between marketing and sales will be erased.

To summarize, here are few suggestions: 1) keep to emphasis on selling. 2) focus your marketing activity on two things a)defining and finding targets and b)engaging and interacting with them in a fashion that results in participation in a specific action that your sales team has defined as the next step. Then, count your success by the number of sales opportunities generated and assess the value of your investment using the estimated value of those opportunities.

Measurement Tip 5

2011-09-23T11:40:00.005-04:00

Customer and Prospect Feedback May Be Most Important to Your Marketing Events

Although ROI and efficiency measurements are important, customer feedback on the value and effectiveness of your events may be the most valuable information you can get.

Events are communication and engagement tools with the goal of gaining specific, desirable behavior from participants. This behavior only occurs if participants are persuaded and motivated to act. To know how well your event marketing program accomplishes these goals and how you might change future events to be more effective requires insight through the eyes of your customer.

As a reminder, there are three critical success factors for a marketing event:

1) You must attract enough of the right people to participate in your program, i.e. those who can act in a beneficial manner
2) You must give participants information and an experience that is persuasive and conclusive
3) You must gain their commitment to act in a manner that benefits your company and accomplishes your goals.

Therefore, the following categories of information are essential for understanding how well your program performs on these critical accomplishments:

• Who are they (demographics of your visitor base as compared to the event base)?
• Why did the participants come?
• What did they learn as a result of visiting your exhibit or event (…if anything, and
what was most valuable to their future plans)?
• What do participants plan to do as a result of their visit (specifically will they take the
steps you have specified necessary to achieve results)?

There are several ways to collect this information. There are advantages and disadvantages for each method. In some cases, a mix of research techniques provides the best results.

On-site survey techniques, such as random visitor intercept surveys, allow for participant profiling, immediate feedback on the visitor's experience and prediction of post event behavior, such as purchase intent. On-site research provides actionable information regarding how well your exhibit is organized, how to arrange and manage customer flow and the effectiveness of your message hierarchy. Visitor tracking within your exhibit or event is also possible through a number of technologies.

Post- event survey techniques can provide validation of customer behavior. Did the visitor receive a follow-up or progress through the next steps of your program? What specifically did they do? What did they buy and from whom? Was their exhibit or event visit a factor in their buying decision, etc? Post-event surveys are also good for testing your event's impact on brand awareness and retention of specific product marketing messages.

On a grander scale, you can reach out to your entire leads universe quarterly or annually to validate the effectiveness of follow-up by your company and to create a projection of actual purchasing results including an estimated amount of sales. You can perform statistical analysis on your program data to see which factors most influenced customers who bought or identify those who were satisfied or dissatisfied with their experience with your company.

ROI and efficiency measures are important, however making the right changes in future events is much easier when you have good customer feedback. Decide which survey techniques will work best to validate and improve your results in the business development and communication objectives for associated with your program.

Increasing Quality of Leads and Eventual Results at Trade Shows and Events

2011-09-22T10:44:00.004-04:00

The following was my response to the question, "What's everyone doing about the POOR lead follow-up problem. Industry statistics indicate that LESS than 20% of leads ever get followed-up. Are YOU in that ball park?" in the Trade Show Help forum on LinkedIn:

This is an important topic! One way to increase quality of leads and eventual results (including the follow-up ratio) is to get participants to commit to a specific "next step" (best defined by sales). Too often, there is no "next step" defined and correspondingly there is no commitment by anyone for a specific follow- up.

An effective next step can be either human contact or automated interaction that moves the participant closer to a sale. For example, consider a qualified visitor at a construction show who completes a "test drive" in a heavy equipment simulator. That experience must ultimately result in a visit to a dealer, as they are the only ones who can actually sell equipment. The immediate "next step" however may be to get the prospect to sign up for the associated "concierge program" for test drive participants. This package (web based) steers the prospect to the dealer with motivating benefits in hand such as a discount, preferred financing and/or free optional equipment, etc. Getting the prospect to enter the program is the next step at the event. Tracking "goal conversions" identified with each step the prospect takes once enrolled provides the results tracking.

Whatever the next step for your business or product is should be a step in your sales cycle. Visitors who are signed up for the next step are much more certain to receive follow-up.

This is one example among many. What I have found is the concept of commitment (agreement) is central to the certainty of follow-up.

What are you thoughts on ways to improve lead quality and ensure effective follow-up? Email me edjones@constellaitoncc.com me if you would like to discuss.

Ed Jones

Measurement Tip #4

2011-09-02T15:28:00.002-04:00

Trade Shows can be about more than leads and sales. Cost savings tactics such as negotiating with new suppliers, reducing travel, recruitment and generating press all lower the cost of doing business for your company. Reducing cost makes a dollar for dollar impact on profitability. Measure and report the savings as an element of event ROI.

Most events offer many ways to save your company money. Events present “one-on-many” opportunities that are especially effective in reducing sales call costs and travel expense to hold meetings in the future. The reason is hundreds, if not thousands of people who can influence the amount or cost of doing business for your company have paid their own way to be at the event and are available to meet with you. These people include existing customers, potential buyers, suppliers, partners, channels, influencers and many others.

One of our clients hosted over 1,000 meetings that included their own executives and sales teams with customers, channel partners, strategic alliances, technical experts, standards body members, investors and industry press and analysts at their largest trade show. Each meeting they held resulted in the elimination of future time and travel expense to hold that same meeting at the company’s expense in the future. This client was able to report a savings estimate of more than $1,000,000, representing enough return to justify the entire show budget without any estimate of eventual sales impact.

Reducing the number of required field sales contacts and associated cost presents another opportunity for savings. A well-executed event plan accomplishes the same objectives with targeted prospects that would occur in the first few field sales calls. A well-executed program may eliminate up to two or more sales calls in the field required to close a sale. Typically, these calls cost a company from $400 to $1,000 or more dollars each.

There are more ways to impact the cost of doing business that can be listed here. For example, many clients use marketing events as recruitment opportunities thereby reducing the cost of finding suitable candidates and bringing candidates to HQ for an interview. This is also true for supplier and channel recruitment.

The activities at your next event should be aimed not only at the income side of the profit equation, but the cost side as well. Of course to make these benefits happen requires that you initiate a dialogue with those internal managers who can take advantage of the opportunity your event provides. They can also help you estimate the value associated with doing multiple things at an event instead of doing them one at a time.

Reporting these results in your event measurement report will add credibility and financial justification for your investment beyond the primary goal of increasing sales.

Measurement Tip #3

2011-07-21T10:06:00.000-04:00

To determine marketing success, you should identify and report these exhibit metrics: 1) who visited, 2) why they came, 3) what they learned and 4) what your visitors plan to do as a result of their visit.

Although many think of an exhibition as a place to put a number of products and services on display to a large number of people, the real value comes from making contact with individuals who are qualified to do business with your company. These people may be prospects, customers, suppliers or other participants in the profit equation of your business. Therefore, in order to identify and justify the value of an event marketing activity, it is essential to know and report who visited your venue and what outcomes are expected as a result of their experience. Marketing exists to create sales opportunities and to increase the probability of sale. In order to create sales opportunities, your program must target specific individuals and persuade them to act in a manner that benefits your company.

To understand the effectiveness of your marketing program it is important to know why participants came to visit and what they learned during their stay. This informs you regarding the effectiveness of your targeting and attraction campaigns and identifies the elements of the event experience that were most successful and likely to influence a visitor’s decision to act on your behalf.

The answers to the four questions listed above can be determined in a variety of ways. A common practice is to conduct live, post-visit intercept surveys. They help you understand how well you connected with your target audience. Intercept surveys provide accurate demographic profiling of visitors to your exhibit or event. This includes targeting criteria such as industry affiliation, company type, company size, individual responsibility, job title, buying readiness, and purchase intent. Post-visit intercept surveys also identify what the participants learned (if anything) and most importantly what they intend to do as a result of their visit. This data can even provide a forecast of expected sales driven from the participant’s view.

More sophisticated measures are possible using post-event survey techniques that pull from the entire event audience which includes those who visited your exhibit or event as a subset. You can identify changes in purchase intent, brand preference, brand fit and Net Promoter* scores for example. These metrics help you understand a lot more about the effectiveness of your marketing activity in creating positive change in perceptions among your target markets that result in an increased probability of sale.

Another method is to utilize technologies such as localized scanning techniques that provide real-time visitor identification and tracking of their movement. Radio Frequency Identification (RFID) for example, can provide real-time activity reports on session attendance, time on the show floor, and in-booth activity by product interest and for post-event analysis.

Understanding what your visitors plan to do as a result of their visit is one of the most crucial elements. A qualified lead should be committed to take a pre-determined action that sales has defined as a step in the company’s sales cycle. A tight definition of a qualified lead will provide a strong metric regarding generation of sales opportunity.

There are many metrics that are important to exhibit and event managers. As far as ROI is concerned, determining who came, the persuasiveness of their experience and their intent to act provide the clearest measures of effectiveness.

*Net Promoter Score is a registered trademark of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld

Assessing and Managing The Agency Relationship Between A Supplier and Client

2011-07-15T10:12:00.005-04:00

I am frequently asked by exhibit and event companies how they can strengthen and retain their customer relationships and reduce turnover. Even though agency relationship evaluation is not yet common in the events industry, measuring the effectiveness and strength of this relationship can lead to better results, lower costs and long term, mutually beneficial partnerships.

The relationship between a client and their event marketing agency has a lot to do with the level of results obtained as well as the ease, effectiveness and cost of obtaining them. Thus, evaluating agency relationships is common practice in the advertising and PR worlds. Applying a similar methodology to event marketing agencies provides a good basis for evaluation of the working relationship.

There are two types of variables that serve as agency evaluation metrics:

1. Performance Variables

These variables include such considerations as overall effectiveness, production, financial management, creative, etc. The client is asked to evaluate their agency on those aspects of support using a suggested rating scale. The client is also asked to provide an explanation of each variable as the basis for discussion and improvement.

2. Values Variables

Common values are essential to a good relationship. Value variables include elements such as the agency’s discipline (how strong are they in meeting deadlines, being present at meetings, etc.) and their resourcefulness (do they think strategically for example?). Another example might be shared responsibility. The client is also asked to rate the value variables on a similar scale and provide an explanation of each variable as the basis for discussion and improvement.

Once the variables have been established, it is essential to implement the agency evaluation as part of the overall event marketing measurement program. Relationship measurement should be supplemental to measurement of accomplishments and results. If results are less than satisfactory, the immediate focus should be on identifying and correcting factors that will produce better results from the next event. Sometimes immediate performance issues degrade into ad-hoc evaluation of the relationship, neither solving the immediate problem nor objectively diagnosing the relationship issues. If relationship measurement is structured and scheduled as a regular activity, for example quarterly, this tendency is reduced.

On a more advanced level, evaluations are completed by the agency as well, providing analysis of both sides of the relationship. Relationship variables with the largest rating gaps reveal the likely causes behind problems or friction among the team members. Changes are made that alleviate problems and progress is tracked by reporting improvement from period to period.

Although agency evaluation may be new to our world, it should be given strong consideration as an aid to increased customer satisfaction, lower turnover and greater job satisfaction for everyone. We are working on bringing this capability to the events industry. Please comment and let us know your thoughts or suggest elements of performance and values that apply to event marketing agency relationships.

For more information or to discuss this concept as a means to improve your Event Marketing program, please contact us at +1 (770) 391-0015 or heatherdeloach@constellationcc.com.

Measurement Tip # 2

2011-07-01T10:04:00.004-04:00

Gather and share information that will satisfy your internal customer - Sales.

(This is the second in a series of articles for the MC2 eConnections Newsletter)

The sales team is the internal customer of the marketing function. Marketing is employed to generate sales opportunities and to increase the probability of sales. These same objectives apply to a marketing event. So, what information can you supply that will be valuable for the sales team?

Beginning with the planning phase, define for the sales team who is “addressable” at the upcoming event. The correct strategy, messaging, products and content can be determined by knowing the target audience available at a marketing event. This information is valuable in choosing which products to feature and even which sales team members will participate. You might also identify who among your existing customers are likely to attend. This information is often available from the event organizer and from your own measurement records from the last event cycle.

Second, give the sales team a forecast of how many participants are expected at your booth or event along with their demographics. Suggest that the sales team use this information to determine which demonstrations and other experiences to include. Forecast the number of expected engagements and estimate the number of committed leads that should result. From there the sales team can help you estimate the “sales opportunity” value for the event.

You should not only give information to the sales team, but you should also seek it. Ask the sales team to define the steps that an interested, targeted visitor should be asked to take. This will become your definition of a qualified lead, i.e. someone who is committed to take those steps with your company.

Finally, report the actual attendance at your event in the same way you defined the forecast. Who visited? Define your visitors by the following:

• Industry
• Company type,
• Relationship to your company (such as customer, prospect, supplier, partner, etc.)
• Company size
• Titles
• Level of decision authority individual contact information

This information comes from your scans or leads documentation and may also be supplemented by an exit survey of visitors who have completed their experience.

Of course, the golden ticket for the sales team is complete documentation of well qualified leads. Work with sales to determine how much information is really required to support an effective follow-up. Requiring too much information will clog the process and dissuade prospects from participating in documenting the lead. Too little information makes it less likely that sales will want to follow-up.

You want to confirm the specifics of the follow-up step with the visitor before you pass this information on to sales. Clarify the following:

• “Who”- As in the visitors name and organization

-Remember to get accurate contact information

• “What”-As in the nature of the follow-up expected
• “When”- What is the mutually agreeable time frame for the follow-up

Your lead system should have a place for all of these data points. By keeping this data in a common database, you can analyze and report how well your events have provided the sales team with access to qualified targets over the year.

Your personal influence will increase considerably if you are seen as a manager who can deliver a well-targeted audience at your events. A good measurement program shows you how to improve upon your accomplishments in every category. I hope you tune in each month as we expand on the knowledge and skills to justify and improve your events and elevate your status in the organization.

Please contact me if you have questions or ideas you would like to share at edjones@constellationcc.com, or call 770-391-0015.

Ed

Helping Exhibit Managers Find High Value Improvement Opportunities

2011-06-20T12:05:00.005-04:00

The Constellation team was invited to develop a workshop on improvement in trade show and exhibit marketing programs for a meeting of the GA TSEA chapter. Our approach was to use our “self-assessment” tool with chapter members and present the results and recommendations at the meeting.

The Constellation Marketing Self-Assessment asks a series of very specific questions related to event marketing best practices. We took the opportunity to update our questionnaire to include questions facing the event marketing industry today, such as effective use of social and digital media. The areas addressed included: Target Marketing, Message Development, Exhibit/Event Effectiveness, Promotion Value and ROI Measurement and Continuous Improvement.

We sent a series of emails to chapter participants encouraging them to complete their self-assessment. Upon completion they received a print-out of their results, showing their individual areas of strength (best practices) and opportunities for improvement. Participants were encouraged to bring copies of their results to the chapter meeting for discussion.

Our team tabulated the results of the group to identify the areas of common strengths and improvement needs. The most consistently identified need was to address the disconnect between the sales and event marketing teams regarding event strategy, tactics and leads.

Once the group understood where they could improve, they wanted to know how to improve and they resolved to use their identified common needs for improvement to determine agendas for future chapter meetings. For example, the lack of effective communication between sales and marketing teams topic led to an idea for a panel comprised of sales managers and marketing managers. The panel would serve to find out how to create a synergy between sales and marketing to effectively achieve successful events and ultimately achieve organizational objectives.

Our study of membership needs was enlightening. We use this same tool to identify likely improvement needs with new clients. You can take this self -assessment of event marketing effectiveness yourself at no cost and without obligation. Just follow this link, complete the assessment and you will be able to print a list of your most valuable improvement opportunities. You might want to use these questions as the basis for internal discussions with your colleagues or management, or as the basis for a team meeting. Asking the right questions of the right people is one of the most effective research techniques an event manager or consultant can utilize.

Call us at +1 (770) 391-0015 to discuss ideas about how to get your team and management on the right path for effective trade show and event marketing.
Visit our website www.constellationcc.com for valuable case studies and tips on improving your event marketing program.

Heather Deloach
Project Coordinator
heatherdeloach@constellationcc.com

Measurement Tip # 1

2011-05-25T14:56:00.006-04:00

Be regarded as a manager of the business as well as a manager of trade shows and events.

(This is the first in a series of articles for the MC2 eConnections Newsletter)

Your career opportunities expand rapidly if you are seen as a manager who affects the profitability of the organization and not just your own budget. The best way to do this is to relate the accomplishments you measure to the basic business profit equation.

Revenue – Expense = Profit

In fact, the following two simple concepts will be the underlying basis for this entire series of tips and articles:

1) Your success as an event marketing manager
2) Relating accomplishments to business profitability

So let’s get started. . .

Revenue related accomplishments in a marketing context are usually related to sales. Generating new sales through interactions and resulting leads with potential buyers is the most obvious. Not so obvious, is protecting and growing the revenue you already have through your existing customers. Your event plans should address both.

Expense related accomplishments in an event marketing context are virtually unlimited. Expense reductions (aka cost savings) impact profitability dollar for dollar. When you have your company CEO meet with thirty customers and prospects over three days at a major event, consider the savings to your company.

Would a trip for the CEO to meet with those same customers individually cost $10,000 or more?

If you use the media center at a big show to accomplish a major announcement or product launch, how much is saved compared to doing it independently?

When you reduce the number of sales calls from five to two for qualified visitors reached through your shows, what is the impact on sales expense?

When you develop new digital graphics, video, web pages and social media for a major show, how many times will those assets be reused in the future and for how many purposes?

The examples are endless. Expense reductions are the greatest and most varied opportunities available to you as an event marketing manager. Expense related accomplishments should be a part of every show plan.

Other measures will be discussed in this series as well. Cost efficiencies, such as Cost per Visitor, exhibit efficiencies such as Number of Visitors, communications efficiencies such as Number of Impressions, and even measures on the overall show or event such as Traffic Density.

A good measurement program will show if your events are paying off for the business and if they are being managed for optimum efficiency. Measurement will also show you how to improve your accomplishments in both categories. I hope you tune in each month as we expand on the knowledge and skills to justify and improve your events and elevate your status in the organization.

If you have any questions related to event measurement please call us at 770.391.0015

Ed

The Academics of Experiential Marketing

2011-04-14T09:29:00.003-04:00

Here are the academics of experiential marketing for those of you who are interested. I have thirty plus years in trade show and event strategy, planning, measurement and ROI (my ethos).

Experiential marketing is highly effective communication, designed to elicit a response and a behavioral result from the receiver. It is therefore, by definition persuasive. Persuasive speech (including writing) is founded in three forms of rhetoric or persuasive proof: (this is the very condensed version and these to some degree follow one another.)

Aristotle's "On Rhetoric" described experiential marketing 2,400 years ago.
"Persuasion is clearly a sort of demonstration, since we are most fully persuaded when we consider a thing to have been demonstrated." The three components are as follows:

1) "Ethos" is an appeal based on credibility of the speaker. This is heavily intertwined with brand.

2) "Logos" is an appeal based on logic or reason. Our presentations, demonstrations, sales collateral, web content should all be driven by logic, i.e. leading the viewer to a logical conclusion(this is a study in and of itself).

3) "Pathos" is where the emotions come into play. Pathos is appeal based on emotional response. Much advertising is emotionally oriented. Admiring or wanting to be like the celebrity who wears the cool watch for example.

For our purposes here EXPERIENTIAL MARKETING is about helping the prospect come to and through the emotional decision to act, because they "feel right about it." That can come from interacting with the product, feeling good about the personal interactions with the staff or sales team, feeling lower risk due to confidence in your credibility and logic. "Trial" is the ultimate risk reducer and emotional compliment. Testimonial is a form of vicarious trial. Great design and proper mood also facilitate these transitions.

Our tools in the exhibit and events world are: (not intended to be a complete list)

• Visual Communication and Information Structure: How concepts are presented. Message hierarchy for example (another great course and topic)
• Color: Color is quite capable of influencing psychology. Contrast is important for establishing priorities.
• Sound: Music is a powerful mood changer.
• Graphics: A picture speaks a thousand words.
• Interactive Experiences: Graphics on steroids, that can be presented in a customer contextual perspective and engage the participant.
• Human Communication and Interaction: Very helpful in sealing the deal.

This topic is a very rich opportunity to use communication and experience to maximum advantage. It personally excites me. Weak messaging is one of the top inhibitors in trade show and event marketing. If you are interested in more detail, I am available to teach seminars on effective event communication. Contact me though the Constellation Communication Corporation website www.constellationcc.com

Ed Jones
Constellation Communication Corp.

Executive Availability – Key Asset for Marketing Events

2011-03-18T14:49:00.000-04:00

The inventory of executive hours available for meetings and other duties should be regarded and managed as a key asset in an event marketing opportunity. To squander this resource is among the most costly mistakes in event management. The opportunity for positive business impact is great as is the the cost for having a top level executives participate, making the objective of having these executives fully booked at top priority.

Customer, supplier, partner and alliance development and press interaction are all valuable opportunities for executive participation. Sometimes having the right executive available to make final commitments and clarify remaining issues is all that is needed to seal a really big deal.

Having a top level executive meet with 20 or 30 customers, prospects and others in one place, over a short period of two or three days, can produce a surprising impact on cost, totaling in the hundreds of thousands of dollars. These savings provide very tangible event cost justification.

Treat your inventory of executive hours as a key event asset to be optimized.

Post-Event Follow-up - by Heather Deloach

2011-03-08T12:21:00.002-05:00

Working on a post-event follow-up project for one of our clients recently made me aware of how important post-show follow-up is to event ROI.

Too often, event managers lack a well-planned system for what to do with leads information once it is collected at shows. A strong leads management system and an aggressive post-event campaign are absolutely crucial to a successful event marketing program and positive return on investment.

Companies spend thousands of dollars on pre-show direct marketing, but post-show marketing is where actual business results are likely to be realized. A well-executed post-show marketing campaign such as an email blast sent to qualified leads or a post-event survey serves three major purposes:

• Exposure is recreated for your company and products or services
• Prospects have the opportunity to access and learn more detailed information about a particular product or service
• Prospects are given a way to initiate contact with someone from your organization

In order for a post-event follow-up to be successful, an event manager must plan strategically. The follow-up must be planned well in advance of a show or event. The goals of the follow-up must be explicitly decided beforehand. The questions your team must answer before the follow-up method is agreed upon are the following:

• What products or services do we want to focus on?
• Who are our targets for the follow-up?
• What information is of most importance to our target audience?
• What do we want the targets to do as a result of receiving our correspondence?

Once the answers to these questions are clear, it is much easier to execute a successful post-event follow-up.

Case Study– How Trade Shows Can Influence Executive Perceptions, Positively Influence Financial Markets & Gain Top-Level Visibility for Event Managers

2010-11-18T17:02:00.012-05:00

Positive visibility at the executive level of the company is a quest for many trade show and event marketing managers. It seems that the trade show or events program often receives less attention and respect than does advertising, PR or developing the brand. Recently, accomplishments at a major, international trade show became the topic of focus during the second quarter earnings call with the CEO of a multi-billion dollar, multi-national firm. A quarterly earnings call is a teleconference in which a public company discusses the financial results of a reporting period with financial analysts and other stakeholders. The call resulted in a high level of visibility and respect for the manager of that company’s trade show program, a pinnacle achievement for any event manager.

Excerpts from the earnings call demonstrate how key trade show accomplishments (meetings, countries represented, etc.) can become key financial inputs:

Chairman – “During the recent (very large international) show, I had the opportunity to meet with many of our U.S. and international customers -- in fact, we had more customer meetings at this event than ever before, with over 1000 meetings… including 45 delegations from 38 countries. I was encouraged by what I heard about our company -- and the level of interest in what we do."

First Analyst – “I would like to ask about the recent contract cancellation in the UAE.”

Chairman- “The project cancellation was in marked contrast to what I saw at the recent show . . . We saw a number of customers from Turkey, UAE, Israel, Saudi, . . . we saw tremendous opportunity. We showed new digital, three dimensional demonstrations of our new products at the show. A top Japanese group visiting told us they were “very encouraged by what they saw.”

Second Analyst - “I learned about new capabilities for your ‘Hotspot’ project during your press briefing and at your exhibition at the show. Would you tell us more about those?” The chairman described the new capabilities without hesitation, in some detail. This made a very good impression on the analysts and others on the call.

It was clear the customer interaction at the recent trade show provided the chairman and other top executives with up- to-date, personalized market feedback that affected how they dealt with analysts and others. The customer and prospect interactions at the event gave them factual information and perspectives to share with analysts regarding market attitudes and demand. Event managers should consider “Executive Involvement” as one of their event planning criteria.

It was also clear that the event had a strong impact on analysts who visited the company’s marketing venues. Their visits shaped their perceptions of the company, its performance and value. Likewise, event managers should also consider “managing press and analysts relations” as a planning objective. This is also a clear example of why it is critical to be consistent with brand, advertising, PR efforts and exhibit and event related messaging, signage and demos. You never know who is watching!

Ed Jones is president of Constellation Communication Corp., specialists in event and trade show measurement, helping clients obtain positive return on investment in marketing and other types of events. If you have any questions please contact Ed at inquiry@constellationcc.com or call +1.770.391.0015

Simple is Memorable and Essential

2010-08-08T08:35:00.005-04:00

I picked one phrase to highlight from a recent LinkedIn "Trade Show Help" group post on simplicity of trade show messages. "Simple is Memorable."

Three clients of ours were finally convinced to de-clutter their exhibits and refine their messages into a simple, customer oriented message hierarchy. The building products client moved from over 50% of their visitors saying they "learning nothing new" to less than 20%. A large manufacturing company improved from almost 30% learning nothing new to less than 9%. Finally, a large aerospace client just had their chairman talk about the clarity of customer dialogue at a large European airshow during their second quarter earnings conference call. That is some real visibility for the exhibit manager!

Our company provides consulting on trade show measurement, research and return on investment (ROI). This data was derived from year over year, random sample exit interviews with visitors conducted by our survey team.

I list poor messaging as one of the three primary factors in low return on investment. Stated another way, effective messaging is a critical success factor in event marketing ROI.

Ed

More case studies on trade show and event ROI to be found at http://constellationcc.com

Is Your Staff Shy About Engaging Visitors? - A Few New Stats of Interest

2010-06-15T19:54:00.007-04:00

In the event measurement and ROI game these types of numbers are always interesting, even if they are from a single show. Visitors at the recent Confex Show revealed three key objectives for visiting a trade show:

* 68% making new contacts

* 64% inspiration and new ideas

* 62% Networking

These numbers are entirely consistent with our findings over the years.

The top value from attending a trade show was given as "Getting new ideas"

The article cited a general statistic that only 1 in 28 visitors are actively approached at shows. That is believable although I have nothing to verify that, however we do know that 46% of the Confex visitors reported they were displeased with not being approached by exhibitors.

The message here is clear, visitors want to see exhibitors. They want to see what is new and make contact with people who can make things happen. (That is an exact quote from my classes for the last decade.) Your staff need not worry about whether people want to be engaged! Unfortunately exhibitors too often do a poor job of providing them with that opportunity.

Staff training is essential if you want to engage, qualify and properly manage a person's visit to your exhibit for mutual benefit.

(Keith Reznick and I have co-authored some very efficient, low cost, web delivered staff training that can cure these problems. If you have a need, please visit either of our websites at http://constellationcc.com or http://creativetraining.com)

Ed

Get the Personal Credit You Deserve for Managing Events to Deliver Business Profitability

2010-05-21T17:21:00.005-04:00

This is a response for the MC2 "eConnections" newsletter, May issue "Delimma" column. "How do you measure success?" I've heard a lot about measurement in the media and at conferences, and I'd like to start my own performance measurement program based on real stats. But I don't know where to begin. We go to five big shows a year, each with a different division of our company, so it's hard to make adjustments. Is anyone getting value and results from measuring tradeshow performance? What do you measure, and how do you employ the data? I'd really like to know.
-- Althea, Conventions Manager

A good planning and measurement program is how smart exhibit managers get the results they expect and personal credit they deserve from their events program. Many companies rely on a well structured planning and measurement program to manage their events programs as well as the internal perception of their value.

Events are a business improvement tool. Return on investment is realized when you make or save money through an event. To make or save money, the participants must be persuaded to act in a manner that benefits your company.

Properly planned events produce measurable results. When you plan your activities to result increase in sales, retention of current business, promotion of company brand, products and messages, and cost savings, positive business results are achieved.

What to measure follows this same logic. Payback is a simple index of success. Payback comes from tracking value from four sources:

1) Revenue (Increase in Sales)
2) Customer Relationship Management (Customer and Revenue Retention)
3) Cost Savings (Efficiencies using events as the catalyst)
4) Promotion or Communication Value (Equivalent Value of Advertising Required to Achieve Similar Promotional Impact in the Market, or for Internal Events, the Cost of Alternative Means of Communications)

These values, when added together and divided by the budget for your event, produce a payback ratio such as $2.30/1.

Start your own measurement program by putting these four tabs in a three ringed binder and collecting every bit of data regarding value you produce in each of the four areas.

Finally, productivity measures such as number of visitors, engaged visitors, and leads, combined with “cost per” indexes, such as cost per engaged visitor, provide valuable indicators of the success of each event and your program overall.

A major goal at Constellation is to see event and communications managers get the credit they deserve for managing profitable event programs. Many of our clients use their measurement reports as the basis for their annual performance evaluation. A number of our clients directly attribute a part of their career success to their event planning and measurement programs.

Case studies and articles on event measurement are available to you in the "Solutions" section of the Constellation Communication Corp. website at http://constellationcc.com

Justification for Sales Incentive Travel Programs

2010-01-15T09:42:00.005-05:00

Sales incentive travel is being discussed in various social media groups. I had the chance to respond to a discussion this morning.

. . . yes, Hong Kong is a fabulous city to visit and a great incentive trip destination. It is one of my favorite places to visit. The China Club in the old Bank of China building is a great spot for business entertainment, albeit for smaller groups.

At Constellation we have had the opportunity to deliver in-depth analysis of the actual value and justification for investment in a number of sales incentive trips. We saved the BellSouth program from cancellation and even expanded it. Justification is more important than ever these days. The business value of these types of events can be proven. It requires a solid event plan and measurement strategy, but it really can be done. That also takes you off the hook for criticism of waste and frivolity by others, including the government if your received TARP money for example.

There is a case study on this on the Constellation website called "Canceled, End of Discussion" in the Solutions Center Tab of our website at:

http://www.linkedin.com/redirect?url=http%3A%2F%2Fconstellationcc%2Ecom&urlhash=Fjbn

or follow this link: http://www.linkedin.com/redirect?url=http%3A%2F%2Fconstellationcc%2Ecom%2Fcancelled%2Epdf&urlhash=IgQw

If you would like to discuss this important topic, post here or contact me through the website.

Ed

The True Relationship Between Sales and Marketing - Sales is Your Customer!

2010-01-12T11:07:00.007-05:00

You have often heard me say the following in various event measurement and ROI seminars: "Sales (deparment) is the customer of Marketing."
"Sales are the only ones who can define a qualified lead."
"The sales team are the ultimate arbiters of success of a trade show or customer event."
Etc. etc.

Linda Musgrove, aka "The Trade Show Teacher" posted a great article in Exhibit City News (12/30/09) "Sales and Marketing Department Coorperation, Can't We All Just Get Along" that delves further into this important tenet. I think this is a good read in preparing for your 2010 trade show program.

http://tinyurl.com/yapcsz8

Now is the time to get that appointment with the sales team and jointly define the measure of success for your program this year.

Ed

Automated Approach to Effective, Measurable Events for Time Strapped Event Managers

2010-01-01T12:07:00.003-05:00

Happy New Year to All!

I have hinted to many of you in the past year that 2010 would be the time when you can get easy and inexpensive automated tools for planning, execution and measurement for trade shows and other events. Over the past couple of years, we developed various automated, web-based, and inexpensive support tools to satisfy exhibitor and event managers' requirements. Now, these tools can be offered as a support suite, allowing you to pick what you need for each of your events:

Planning Tool (Know what to include, who to ask and how to communicate to the broader team. Ensure you will deliver effective results and profit improvement.)
Staff Training (Ensure your staff is up to the job of delivering results.)
Staff and Stakeholder Feedback Survey (Collect and maintain your internal customer feedback for improving all subsequent events.)
Event Related Press Tracking and Valuation (Press generated during and after an event can generate a lot of justification for your investment.)
Event Selection and Comparison (Budgeting, forecasting of results and cost.)

These tools can put you in charge of delivering and reporting your results without adding significantly to your workload. Consulting support for completing some or all of these processes is available to help you further.

Imagine having all of the information you need in a database waiting at your beck and call for future planning or to show management what you have accompished.

If you would like to discuss how to add some structure to your events program, contact me at edjones@constellationcc.com or call 770-391-0015.

Wishing you the best for the new year,

Ed Jones

Video on Generating Business Value through Events

2009-10-28T11:32:00.002-04:00

http://www.youtube.com/watch?v=mzqUWq_s7lU

This video was shot by Joyce McKee on- site at TS2. This is a good overview of the planning process and how to ensure your event produces value. Planning and measurement orientation.

Ed

Reasons to Exhibit at Trade Shows

2009-10-16T11:12:00.005-04:00

Our friend Mike Thimmesch at Skyline Displays posted an article 22 Reasons To Exhibit At Trade Shows

I responded in support of his view:

Right you are! Trade Shows and events are exceptionally broad in terms of what can be accomplished for the host company. I teach a planning model related to what you are speaking of.

Trade shows, and customer events in general, produce two main accomplishments for the host company.

1) Business Development
This includes:
*Revenue Generation
- Target Marketing
- Prospect Development
*Revenue Retention
- Customer Relationship Management
- Growth on the Revenue Base
*Channel Management
*Supplier and Partner Management
- Negotiation of more favorable terms or arrangements
*Influencers and Regulators Management
- Influence the conditions under which business is conducted and
products are sold (associations, standards bodies, etc.)
*Cost Savings through expense avoidance activity at an event

2) Marketing Communications
*Press Management
*PR Activity
*Analyst Management
*Marcom Objectives
- Brand Development and Reinforcement
- Program Communications
- Market Positioning
- Product Launch
- Loyalty
- Community Development (social networking)
- Continuous Communications
- Relationship Development
*Community Relations

These elements form the core of a robust planning structure that Skip Cox of Exhibit Surveys and I developed into an automated planning support and measurement tool. Information on that tool may be found on either of our websites.

Keep preaching the word that shows are about a lot more than leads and sales!

Ed Jones
President
Constellation Communication Corp.
ROI on Events, Event Measurement and Evaluation
www.constellationcc.com

It Might Be Wise to Pay Attention Here - Social Networks & Blogs Now 4th Most Popular Online Activity, Ahead of Personal Email, Nielsen Reports

2009-09-04T18:02:00.002-04:00

Take a look at this. Social networking and on- lin communities are actually outpacing personal email among internet users and is the fastest growing segment on the web.

“Social networking has become a fundamental part of the global online experience,” says John Burbank, CEO of Nielsen Online. “While two-thirds of the global online population already accesses member community sites, their vigorous adoption and the migration of time show no signs of slowing. Social networking will continue to alter not just the global online landscape, but the consumer experience at large. This study explains why.”

Forewarned is forearmed!

Ed

Event measurement, evaluation, ROI analysis and research.

Visitor Management and Visitor Experience at Trade Shows

2009-09-03T11:06:00.001-04:00

Response to a blog thread regarding visitor management and visitor experience –

Having provided evaluation and measurement at hundreds of trade shows and events, please allow me to offer some objective observations.

Many exhibitors do not teach their staff to properly engage and quickly qualify each visitor and focus their time and attention on those who are targeted. The big variable is how many of those who are attracted to your exhibit are targeted. If the percentage is big, then you will have a good show. If the percentage is small you will have a miserable result.

Too often the strategy is to attract a large unqualified crowd with give aways or magicians and such and hope that those people who are the targets will speak up, identify themselves and engage the staff! That is pretty unlikely and a clear recipe for poor results and low ROI.

Put yourself to the test and see how many of these success factors you have in place, or observe as a visitor: (Check the ones you practice or observe regularly)

___ 1) Define the targets addressable at the event by product set
___ 2) Attract them with targeted promotion
___ 3) Train the staff to engage visitors and separate the targets from the non- targets
___ 4) Have a plan to manage the visit of the targets
___ 5) Convey specific, consistent, benefits oriented, high priority information that is relevant to each target set
___ 6) Have a pre- determined set of target visitor commitment goals (specific steps and activities).
___ 7) Ensure the commitment goals are steps that sales agrees is are steps in the sales cycle
___ 8) Have a system in place to record the commitments
___ 9) Provide motivation and support to the committed visitor to follow-through on the follow-up step through at and post- event communications.
___ 10) Set as many pre-scheduled meetings as possible with customers, prospects, suppliers, partners and others who can improve your profitability in some way.

This does work! It takes focus, planning, training and execution, but it will deliver results and make for happier more productive staff members and visitors.

Ed Jones

(if you have a question or would like to discuss email me at edjones@constellationcc.com)

CRM Provides Greater Value than Customer Acquisition

2009-06-30T12:04:00.007-04:00

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

2009-06-29T13:16:00.007-04:00

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

2009-05-22T09:59:00.004-04:00

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

2009-05-22T09:50:00.004-04:00

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?

2009-05-15T17:15:00.004-04:00

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

2009-03-16T15:24:00.003-04:00

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.

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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?

2009-03-04T11:54:00.017-05:00

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

2009-03-03T16:45:00.009-05:00

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?

2009-01-23T14:17:00.012-05:00

...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?

2008-12-09T14:44:00.026-05:00

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

2008-11-11T17:00:00.003-05:00

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

2008-10-23T16:30:00.004-04:00

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

2008-10-11T12:34:00.007-04:00

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?

2008-10-06T22:10:00.002-04:00

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

2008-09-17T14:50:00.003-04:00

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

2008-09-09T08:30:00.008-04:00

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)

2008-08-27T19:36:00.003-04:00

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

2008-08-25T08:02:00.004-04:00

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

2008-08-20T17:37:00.005-04:00

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

2008-08-08T17:15:00.004-04:00

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”

2008-08-06T17:43:00.005-04:00

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

2008-07-29T21:56:00.008-04:00

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

2008-07-08T12:08:00.006-04:00

"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.

2008-06-17T18:06:00.009-04:00

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

2008-06-05T19:11:00.004-04:00

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

2008-06-04T17:35:00.004-04:00

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?

2008-06-03T15:27:00.003-04:00

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

2008-05-30T17:39:00.010-04:00

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

2008-05-29T18:54:00.004-04:00

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)

2008-05-29T15:45:00.006-04:00

(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

2008-05-21T15:22:00.004-04:00

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

2008-05-13T14:53:00.010-04:00

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

2008-05-08T18:10:00.014-04:00

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

2008-05-02T10:17:00.005-04:00

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

2008-04-28T16:32:00.005-04:00

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!"

2008-04-28T08:24:00.003-04:00

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

2008-04-28T08:10:00.005-04:00

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!

2008-04-24T15:51:00.000-04:00

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.

2008-04-18T07:56:00.002-04:00

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

2008-04-16T15:26:00.007-04:00

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

2008-04-16T14:40:00.004-04:00

Game Changers

2008-04-14T23:00:00.003-04:00

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

2008-03-05T08:23:00.007-05:00

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