Market Research Startup
Audience Metrix is a market research and consulting firm focusing on conducting primary research at proprietary customer events.
Corporate event sponsors and managers.
Introduce the concept of market research as a tool for demonstrating the impact of events against corporate goals and KPIs.
I am one of the co-founders and the CMO/creative director and writer for the company. My partner and I had been doing corporate event research since 2000. We had a significant contract from SAP to do their SAPPHIRE NOW events in Orlando, Madrid and Beijing and decided to create a company to service this emerging market.
The challenge and the opportunity was to develop a web-driven awareness campaign. I wrote everything, concepted the website and oversaw its construction. I also worked with our art director to develop the identity and the white papers. The campaign included:
- The web site.
- White papers.
- Blog posts.
- A PR campaign.
- A social media presence on LinkedIn.
- A social media presence on Twitter.
- SEO development.
- PPC campaign.
- Google Analytics.
- The Event Measurement Best Practices Survey.
Audience Metrix is currently seeking funding to move to the next level.
From the whitepaper 5 Things Your CMO Should Know About Your Event
- The first thing a CMO wants to know is “What impact does the event have on brand perception?”
What he or she is asking is, “is the event a good way to move the needle”?
- The second thing that the CMO wants to know is “What impact does the event have on the pipeline?”
This is always a very difficult question to answer since very often each sales and marketing group measures and spins the results from their own perspective.
Depending how stovepiped the organization is, many times these multiple data sets are never integrated into a single report. But as a general rule, how you measure, track and report marketing generated opportunities and perhaps leads is critical to being able to put a dollar view on the events contribution to the business.
Just don’t limit yourself to this type of measurement, because it is not the only contribution events make to the business.
- The third want-to-know is “How effective is the event at influencing the users and the teams that support them?” As we’ve already noted, there are an awful lot of events that don’t sell… Instead they teach and inform customers and prospects. This is a very powerful way to create demand, build brand loyalty and protect the business from competitors with an army of built-in evangelists at every customer site.
- The fourth know is “What is being done to ensure that the event remains relevant to the target audience?” CMOs are painfully aware that the world is not static. What the CMO wants to know is that you have the data you need to ensure that the event is aligned with the needs and preferences of your attendees, partners and sponsors. Put another way, he is asking what you are doing to protect his investment in this valuable marketing tool.
- The fifth know is “What is our data strategy?” What are we measuring today and what else do we need to be measuring to demonstrate the impact of the event on the business. This is a high value discussion, and it is exactly where you need senior management to engage. You need senior buy-in to develop the measurement plan; and their support to bring together all of the stakeholders to implement the plan. Since the CMO is responsible to the global spend, it is important that all of the events worldwide use the same terms and measurements so that the entire year can be rolled up and looked at as a whole through a single global lens. We have learned that the only way this happens is by evangelizing the benefits of a standardized approach. If you’re at a loss for words, the biggest benefit is this: only by implementing a standard set of metrics can the event team demonstrate their value to the organization.