So, I never real thought about the impact that events or a sponsorship have on a company until we read a chapter about it in Katie Paine's book Measuring What Matters. I find it so amazing that this woman can literally measure anything and everything that can affect a companies ROI or engagement with the public. Events and a sponsorship are no different. It's important to measure these events in tandem with everything else your company does to make sure you aren't wasting money or time by participating in these events. Paine puts together a simple seven step plan for companies to use to measure their participation in events or a sponsorship. The plan goes as follows:
1. Define your objectives
Your company must come together to have consensus on what your goals on holding a booth or participating in an event are. You must be specific with your objectives and if there are multiple audiences involved make sure that you have different lists and objectives for each.
2. Determine your measurable criteria of success
3. Decide upon your benchmarks
You need something to compare your results to. You could pick another company or even pick your own company from years past. The benchmarks must be defined on the decisions you need to make.
4. Select a measurement tool
The most reliable way to measure your results from an event is through an in-depth phone survey using the Grunig Relationship Survey, however the next best options are a post-show online survey or creating a hashtag on Twitter.
5. Define your specific metric
Depending on what your goal is, you will have specific metrics you will want to measure for.
6. Choose a measurement tool
There are numerous online tools and tools that you can use in your booth or at a sponsorship.
7. Analyze results
You need to determine what specific elements from the event engaged people with your brand. You also need to look at the big picture and determine if events are even the best way to go about doing things.
I think this is an awesome and pretty simple way to determine if you are getting your bang for your buck out of events. Some companies just sponsor events sometimes or get booths at expos because it is what they have always done. However, it's important to measure the success of these events because they may be using up money that could be better spent elsewhere. Katie Paine's book is an awesome help to those of us who are just starting out in PR because it gives us the ideas that we need to use for measuring in the future.
food for thought: "It is dangerous to be right in matters on which the established authorities are wrong"- Voltaire
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