From Google Analytics to Booth Analytics Leveraging a website-analytics approach to enhance event marketing and ROI

Transcription

1 From Google Analytics to Booth Analytics Leveraging a website-analytics approach to enhance event marketing and ROI Art Borrego CEO 9/23/2008

2 CONTENTS Executive Summary... 3 Increasing your Event ROI... 4 The Analytics Advantage... 5 Google Analytics and Booth Analytics... 6 Booth Analytics in Action... 7 Philips Healthcare: A Case Study Benefits Summary About Alliance Tech Alliance Tech 2

3 EXECUTIVE SUMMARY According to a recent study, events continue to generate the highest ROI for marketing, based primarily on business intelligence regarding in-person contact. So how do we improve and leverage this business intelligence for even greater ROI? One strategy is to take advantage of analytics to better understand attendee behavior. A good model for this type of understanding is Google Analytics. This service by Google uses web traffic analysis to help companies gather information about their website visitors where they come from and how they interact with the site. Booth Analytics provided by Alliance Tech can be used to understand booth visitors in much the same way -- analyzing the number and type of booths they visit at an event, the duration of each visit, the number of return visits and so forth. Armed with this valuable information, companies can better quantify their overall booth performance, calculate ROI, learn more about prospects and improve the number and quality of leads. This white paper also includes a case study describing an event analytics solution developed by Alliance Tech for Philips Healthcare. Alliance Tech 3

4 INCREASING YOUR EVENT ROI A volatile economy... growing competition... rising media costs... a slowdown in consumer spending... changing customer habits... advertising-blocking technology. These are just some of the marketing challenges faced by companies today. Faced with these problems, companies are putting greater reliance into event marketing, even over other marketing tools such as print, broadcast, promotions and public relations. According to EventView 2008, an industry-wide survey sponsored by the Event Marketing Institute, event marketing represents a solid 27 percent of the marketing budget the highest percentage in the past four years. In the survey, the importance of event marketing to senior executives is clear: 43% of respondents state that event marketing is always taken under consideration, with 24% describing events as a vital component of their marketing plan. 42% of respondents estimate the future importance of event marketing in their organizations will increase or increase strongly. Marketing ROI Equally clear is the growing emphasis on experience marketing as an advanced discipline within event marketing. Experience or experiential marketing is a proven discipline that seeks to move away from the simple features and benefits sales dynamic that characterizes most event marketing to a deeper and more meaningful interaction. At an event, experience marketing depends on business intelligence about visitor behavior at the booth: who visits, how many times, for how long and so forth. Visitor behavior, sometimes called in-person contact, is a key marketing differentiator and a top reason why event marketing can provide a higher ROI. So how do we leverage and utilize business intelligence about in-person contact to better identify, qualify and prioritize opportunities and further increase ROI? Alliance Tech 4

5 THE ANALYTICS ADVANTAGE The first step in increasing event ROI is to measure and analyze the behavior of our booth visitors. Measurement and analysis often reflect an increased focus on event management in general. Respondents in the EventView 2008 survey who measured visitor activities are one and a half times more likely to increase their event marketing budget than those who do not measure. The problem is how to develop a measurement and analysis solution that can support the unique needs of event management. Web metrics offers a great model for addressing this problem. As we can see in the figure above, web marketing runs a close second to events in terms of ROI, and web metrics is a strong driver for this success. The power and value of web metrics has been demonstrated by Google Analytics. This service generates detailed statistics about the visitors to a website. Metrics include the number of visits, the average number of pages per visit, the average time spent on the site and the geographical origin of visits. Google Analytics can also track visitors from all referrers, including search engines, display advertising, pay-perclick networks, marketing and digital collateral such as links within PDF documents. Attention Exhibitors Ask the producers of your next event about implementing a Booth Analytics solution from Alliance Tech. Both you and your event producers can significantly increase ROI with powerful, accurate analysis. With Google Analytics, a growing number of companies receive the business intelligence they need to enhance their visibility, market share and overall revenues. Alliance Tech 5

6 GOOGLE ANALYTICS AND BOOTH ANALYTICS In many ways, a booth is like a website. Both are designed to attract visitors, deliver targeted information, support visitor interactions, help build relationships with prospects and customers, provide news about the company and its products and perhaps most importantly generate qualified sales leads. Web analytics track visitor behavior through the visitors IP addresses. Booth Analytics can use Radio Frequency Identification (RFID) technology to track event attendees as they visit a booth. RFID technology has been around since WW II and is used for many applications such as EZ Pass Toll Tags. A tiny RFID chip is embedded in the visitor s ID badge. The chip responds to radio frequency signals generated from a reader with a set of connected antennas positioned at the booth. Attendees are usually given the opportunity to opt-out of the system, although opt-out rates have declined dramatically as attendees become more familiar with the technology. With RFID technology, the company can capture visitor data on a real-time basis within a tradeshow environment and generate a wealth of metrics. When booth visitor behavior is combined with attendee demographics and lead qualification data, the business intelligence gathered at the event takes on a much higher value. Google Visitor Report Alliance Tech 6

7 BOOTH ANALYTICS IN ACTION Booth Analytics deliver a number of metrics available in real-time for detailed reports that can be viewed onsite. These reports provide companies with critical insights into visitor behavior and preferences, helping to generate more value from the event and enhance the lead generation process. Depth of visit Just as Google Analytics monitors what pages a visitor views, Booth Analytics monitors the stations that an attendee visits. The floor plan shown above shows blue triangles as product areas being monitored with RFID. The red dots depict visitors within those monitored areas. This information helps answer questions such as: How many areas did a given attendee visit? How much time was spent looking at a specific product? Alliance Tech 7

8 Duration of visit This report shows product stations visited by specific attendees, their time at the booth and the total amount of time at monitored stations. Duration is a valuable metric that infers visitor interest. Google Analytics is able to track average time spent on product web pages. With Booth Analytics, companies can provide in-depth analysis such as what products were most visited and the amount of time spent by various audience segments at your booth. Country of origin In today s global economy, companies need a worldwide view of their markets. Booth Analytics can be used to generate maps showing where booth visitors come from. This allows companies to gain a better overview of markets, discover untapped markets and improve targeting by regions. Alliance Tech 8

9 Frequency of visit Frequency of visit is a behavior metric. When visitors return multiple times to a website, they are typically interested in learning more about the company or specific offerings. The same is true with return visitors to a tradeshow booth. With Booth Analytics, companies are able to track who is new to their booth and who has visited multiple times, providing additional insight. Opportunity With Google Analytics, companies can set and support conversion goals. In event marketing, one of the most common goals is lead generation. However, many leads do not convert to sales because of poor qualification. Company representatives might return from the event with a stack Alliance Tech 9

10 of business cards, but with little in the way of information about the people represented by those cards. By combining data about visitor behavior, lead responses and demographics such as job title and geography, Booth Analytics can generate a comprehensive Engagement Report. This report showcases leads that are qualified and prioritized according to key criteria. As a result, Event Managers have the tools they need to measure and increase booth performance, Marketing can better plan and execute strategies based on precise metrics and Sales can increase conversions based on more qualified leads. Alliance Tech 10

11 PHILIPS HEALTHCARE: A CASE STUDY PHILIPS HEALTHCARE IS A PART OF ROYAL PHILIPS ELECTRONICS OF THE NETHERLANDS (NYSE: PHG, AEX: PHI) A diversified Health and Well-being company. Like any successful organization, Philips Healthcare is committed to constantly improving the business intelligence they gather at their event booths. For the Radiological Society of North America [RSNA] conference, this commitment is especially crucial. RSNA is the world s largest international medical meeting and regularly attracts over 50,000 clinicians, researchers and healthcare decision-makers. Any company exhibiting at this event naturally wants to fully leverage the opportunities available from this highly targeted audience. Philip s measurement objective for RSNA is to provide best in class measurement for our stakeholders and make RFID analysis a foundation for our event measurement, said Jeffrey Masters, Manager, North American Marketing Events Group at Philips Healthcare. Philips turned to Alliance Tech to help them support the following objectives: Increase their knowledge beyond traditional approaches. Shorten sales cycles with insight on visitor proclivities. Measure and map individual visitors and their visits. Expand their insight on prospects interest in products. Combine RFID, lead and survey results for insight on behavior patterns and message absorption. Understand booth staff resource requirements. Make RFID analysis a foundation for event measurement. Provide Best in Class measurement for Philips stakeholders. Alliance Tech 11

12 Alliance Tech has accomplished these objectives and more with a Booth Analytics solution for Philips. In a booth that is 80 X 400 feet (32,000 square feet), Alliance Tech readers have been able to gather data from over 9,000 visitors during more than 60,000 visits all with 99% accuracy, the highest in the industry. Philips is pleased with the business intelligence they have received with Booth Analytics that help them meet their objectives and support a solid ROI for the event. For RSNA events in the future, they plan to: Track booth traffic and visitor duration by product area. Tag event staff to better understand both staffing and resource needs. Acquire and map visitors trips through the booth. Acquire visitor data by title, specialty and product interest. Measure interest in special exhibits and topics. Take attendance of 1,300 Philips staff at a preshow meeting. Acquire and locate prospects for Sales. Create executive reports for Marketing and Sales within 72 hours after the event. Alliance Tech 12

13 BENEFITS SUMMARY Booth Analytics can use unobtrusive, highly accurate RFID technology to develop metrics comparable in many ways to Google Analytics. Booth Analytics can enable companies to more intelligently discover and engage opportunities, based on the ability to: Better understand prospects and markets Track booth visits, returns and duration by product area View attendee interest by demographics Gain visibility into where attendees come from Improve the lead generation process Capture more leads Prioritize leads according to specific metrics Reduce the number of leads that are overlooked due to insufficient information Enhance event management Accurately measure ROI for events and event activities Determine the most valuable events Improve event performance based on a better understanding of what works Alliance Tech is dedicated to helping companies fully leverage their investments in events and event marketing. With Booth Analytics provided by Alliance Tech solutions, companies can acquire the business intelligence they need to turn contacts into leads and leads into sales. Alliance Tech 13

14 ABOUT ALLIANCE TECH Alliance Tech is a business intelligence solutions provider focused on marketing metrics for tradeshows, conferences and events. The company is the first to offer a complete and integrated RFID solution to track attendee behavior and preferences at events. Alliance Tech has extensive experience in successfully delivering event solutions for lead management, surveys, social networking and RFID attendee reporting. For more information, visit Copyright 2008 AllianceTech. All rights reserved. Alliance Tech and Booth Analytics are trademarks of Alliance Tech in the United States, other countries or both. Other company, product and service names may be trademarks or service marks of others. Alliance Tech 14