Posts Tagged ‘metrics

11
Oct
16

Change is good…right?

innovationLeaves change. People change. And yes, businesses change.

But what about associations?

Most of us realize innovation is key to driving a business forward. New ideas, new inventions, new strategies, new operating plans. The options are limitless – even for associations.

Associations aren’t often regarded as agents of change, but recently, Marketing General Inc., in conjunction with the National Business Aviation Association, polled association professionals to learn how they set innovation goals, how they support innovation, what rewards and recognition they offer and how they set metrics for innovation.

Nearly 350 associations participated in the Association Innovation Benchmarking Report, which found most associations are at least moderately innovative. That’s a recent development, however, as most didn’t start focusing on innovation until the past five years.

According to the survey, association innovation tends to focus around a few main areas: website and social media; conventions, conferences and seminars; education programs; and membership, technology and marketing (56 percent each).

the-secret-of-innovative-companiesIn addition, associations reported that innovation flows from the top down, with CEOs and other leaders serving as the primary drivers of new thoughts and ideas. In addition, collaboration and communication and encouragement are the most common ways associations support innovation.

And it seems there’s not much middle ground. Associations either fully support innovation or not at all. At the same time, there are challenges – lack of resources being No. 1. Also, most associations don’t set goals to achieve innovation and often, there aren’t reward programs for striving toward and achieving innovation – perhaps because it’s an expectation, and, in some cases, a culture.

Other key findings:

  • Changes in the industry or profession and technological developments are the biggest motivators for adopting innovation.
  • Among organizations that have rallied around innovation, communication has been key to getting everyone on board. Permission to take risk also plays a major role in getting personnel on board with innovation.
  • Those organizations with a specific system tend to handle new ideas in a variety of ways: 50 percent rely on staff initiative; 48 percent have a special committee or group; and 41 percent develop new ideas with the CEO.
  • Increased member engagement is the most common way to measure innovation efforts.
  • In those organizations where innovation is not supported, respondents cite departments and people being very siloed as a principal cause for the lack of support.
24
May
16

No more masses for association marketers

email-marketing-for-your-home-businessAs some of you may know, Event Garde sends a monthly e-newsletter. So every month, I jump into Constant Contact to look at stats.

Admittedly, I’m a word nerd, but I find the stats and data fascinating. I get excited when the click and open rates increase. And I use those – based on the popularity of certain topics – to decide what to write the next month.

Email marketers: Does this sound familiar?

According to most reports, email is the No. 1 tool for marketing among associations. But do email campaigns work?

A new report by Informz may help marketers decide.

The 2016 Association Email Marketing Benchmark Report analyzes nearly 2 billion emails sent by associations in 2015. According to the report, email volume rose nearly 12 percent from 2014.

We’ll delve into the findings shortly, but first, Informz points out marketing automation technology has transformed the way associations communicate. For example, it allows senders to more easily segment audiences, allowing for topical, personalized responses.

“Associations are making a purposeful shift to integrate and maximize their digital marketing reach, utilizing all their data assets,” Informz says. “Websites, email marketing programs, account management databases and online communities are no longer perceived as separate functional entities. Taking a holistic approach means moving away from a single communication strategy to a tailored, one-to-one communication approach.”

click-460In addition, the report revealed email relevancy is top of mind for subscribers. As such, marketers are moving away from mass emails, instead sending customized communications to members – which translates into more meaningful member experiences.

And now the findings from the Informz report:

  • The average email metrics for associations include a 98 percent delivery rate, 36 percent open rate and 16 percent click rate.
  • More than 70 percent of email subscribers were sent one to five emails per month.
  • Emails containing eight or more links represent 77 percent of the email sent volume.
  • Audiences between 5,000 and 50,000 accounted for 63 percent of all emails sent; however, the smaller the audience, the higher the open and click rates were.
  • For the second consecutive year, emails sent during midday hours accounted for the largest percentage of emails sent, as well as the highest click rates.
  • Tuesday, Wednesday and Thursday had the highest email volume with an average open rate of 35 percent.
  • Friday had the highest weekday open rate at 37 percent.
  • Subject lines with fewer than 40 characters had open rates that exceeded the 2015 benchmark of 36 percent.
  • More than 60 percent of opened email had engagement for more than 10 seconds, which is an increase from last year’s metric of 62 percent.
  • Mobile readers engage with emails longer than desktop readers, with 67 percent of mobile readers spending longer than 10 seconds.

So…what are your thoughts? How does your association use email?

Remember that newsletter I referenced? We’re always looking to feature examples of success so if you’ve developed an email campaign that works, please send information to Kristen Parker at Kristen@eventgarde.com.

27
Jan
15

4 Event Metrics You Should Be Calculating

This month’s guest post is by Courtenay Allen, a marketing specialist at Attend.com, which produces event management software. It was originally posted on the attend.com blog.

Courtenay Allen

Courtenay Allen, marketing specialist for Attend.com.

You’ve set your event goals and planned every detail, but how do you know if you’ve been successful? The word “metrics” gets tossed around everywhere, but it’s more than just a buzzword – it’s a necessity. Whether you’re hosting a nonprofit fundraiser or an alumni event, here are standard metrics to calculate your event’s success.

Event Surveys
After your event is complete, sending a post-event survey is an important tool to determine the success of your event. Most likely, not all your attendees will complete the survey. However, even without 100 percent completion rate, the feedback you’ll receive will be invaluable. Most importantly, ask your attendees if they’re satisfied with your event and if they’d be willing to attend next year. If attendee satisfaction is low, it may be time to change or even eliminate the event all together. In addition to your attendees’ general feedback on their experiences, ask them for more in-depth insights about the food or venue. While these metrics don’t necessarily impact your return on investment for your event, they’re helpful to know and can help you plan future events.

Attendee Demographics
Another crucial element to measure is your attendees’ registration process. For instance, did they initially sign up for your event really early? Or right after you published a blog post? Perhaps they registered for your event after seeing your event promotional video. Not only is it important to track when, but also how your attendees registered through your various event promotions. Did your attendees register through social media or by responding to your email? By tracking your attendee registrations, you’ll be able to determine which messages and media were the most effective for your event audience.

Tracking your attendee demographics is more than just counting the number of attendees that registered – it’s also determining the number of qualified leads your event generated. These attendees have a budget and authority to make purchasing decisions. Calculate the cost per lead for your event by dividing the program cost by the number of qualified leads that attended. This measurement is helpful for projecting budget requirements future lead generation.

MetricsEffective and Efficient
To determine if your event was cost effective based on the number of attendees reached, divide your program cost by total attendees. This calculation is not recommended as a stand-alone figure, but should be used in conjunction with others. For instance, what was your event efficiency ratio? This metric is also known as the expense to revenue ratio. To calculate, divide the total expenses of an event by the total revenue that your event generated. If your expense in running the event is higher than the revenue, you’re looking at problems with efficiency.

Social Impact
During your event you were probably busy live tweeting to keep your attendees engaged. However, after your event is over, track your event hashtag retroactively for all your event conversations. In fact, check all your social media platforms to see the results of your social media increase after your event. Examine all your likes, tweets, comments and number of fans and followers, and determine which of your social media channels was most successful.

Depending on the type of event, you may want to calculate your press impact. How many media mentions did you receive, and which publications wrote about your event? By calculating the cost to reach those same audiences with paid advertising, you’ll be able to put a dollar figure with the media reach.

Measure and Conquer
Different types of events have different goals, and to determine how successful you were at those goals, you need event metrics. Whether you need all these or just a few, these metrics will give you the information you need to continue improving your events.

18
Mar
14

Numbers and trends and data…oh my

canstockphoto7351376-landingpageIn this day and age, we’re inundated with data. And some of us thrive on it. Especially event planners.

Data are key to improving your events, to giving your customers and potential clients what they crave. But how do you know which data are important?

It’s something called event intelligence, the subject of a new(ish) Professional Convention Management Association whitepaper by Eric Olson, CEO and president of Zerista, and Staci Clark, global marketing strategy manager for Cisco Systems.

Simply put: It’s about more than numbers on a page or stats.

Eric Olson, president and CEO, Zerista

Eric Olson, president and CEO, Zerista

“The data available to us today goes well beyond simple reports, like how many people showed up to an event,” Olson and Clark said. “New technologies and reporting tools are moving event data usage from a traditional focus on topline metrics, which provide a quick readout of your event, to a deeper dive into analytics that provides valuable context.”

The best way to tackle this? Combining quantitative (hard) and qualitative (soft) data. A good example: Measure how much your event gives back to the organization. For an exhibitor-focused event, after you’ve asked the questions about budget and purchase intent, evaluate whether exhibitors attended sessions or product demonstrations for new solutions or products. If so, chances are, you met their customized needs.

At the same time, be wary of big, flashy numbers, Olson and Clark warn. While it’s tempting to focus on record attendance, if your event isn’t drawing the right crowd for, say, your exhibitors, it doesn’t matter how many attendees you have. In other words, it’s the right mix of quality and quantity.

According to the whitepaper, there are three building blocks for event intelligence: attendee intelligence, operational efficiency and performance and business value measurements.

Staci Clark

Staci Clark, global marketing strategy manager, Cisco Systems

Attendee intelligence focuses on demographic and behavioral information. What are your attendees’ buying patterns? What are their interests? Data are gathered through survey and registration systems and once gathered, your organization can analyze data for patterns (i.e. technology interest).

Operational efficiency is less exciting, but equally important. Areas of focus include spend data, food and beverage stats and registration and housing trends. Such information will allow your organization to spend less to do more. Not to mention, you can ensure your attendees are well feed and that they’re comfortable in the space you’ve allotted.

Finally, business value: Don’t stray from your business goals. Identify and write down your organization’s ultimate goal. Do you want to increase your participation by 100 participants? Do you want 150 more vendors? Do you want to net $10,000 more in revenue? Make sure everything you do is aligned with your goals.

“Events have changed. Every stakeholder expects more,” Olson and Clark said. “And the key to serving them better is locked in the data that surrounds every experience. Every event organizer should be focused on data. Yet, with deadlines to hit and events to produce, can event organizers be expected to do it all?”

Yes, but keep it simple:

  • Collect as much data as you can, even if you don’t use it.
  • Set measurable business goals before you start analyzing data.
  • Focus on what’s important. If you can’t change something with a set of data, ignore it.
  • Bring in the experts. Don’t be afraid to ask for help analyzing your data.

Tell us: How do you gather and use data for your events?

07
Jan
14

Snow day productivity: Briefer, clearer, funner communications

First, I’d like to take this opportunity to wish you a very happy, healthy and prosperous 2014. Both Kristen and I, together with the Event Garde team, appreciate you following our blog, sharing your comments and post ideas and paying forward those posts that resonate with you most.

snow-day-games-425a-102909This week the combination of snowfall and bitterly cold temperatures delayed back-to-school and back-to-work activities for many in the Northeast. For some, that means a snow day (or two) home with the kids. For others, it means a roaring fire, a cup of hot chocolate and a “Judge Judy” marathon on the television.

And for still others, it means a time to catch up, organize and reflect.

It’s in these moments of reflection I’m reminded that in 2014 we must be briefer and clearer. Forget the top 10 lists and the crystal ball predictions. Forget even the larger-than-life New Year’s resolutions. This year I’m recommending in your communications with members that you simply emphasize brevity and clarity.

So what does that look like?

It means sending fewer communications (electronic and print) that are consistently branded in both look and tone. It also means scaling back those we do choose to send (e.g., limiting our conference brochures, marketing prospectuses and even our one-page letters to only the most pertinent information).

Likewise, I’m advocating for clearer communications. And by this I simply mean identifying and promoting only key messages in our communications with members. When we become too verbose or attempt to share too much information, we often muck up the waters and turn off our audience.

Every couple of months, as I write my column for Michigan Meetings + Events magazine, I have the opportunity to practice this very same exercise. I must routinely edit down a draft of 1,000 or more words to just 400. Ultimately, though, the result is briefer and clearer – and thus more useful and interesting to readers.

wiifmThink about it: As the lines between our personal and professional lives continue to blur, there’s certainly no excess of time or attention as it relates to consuming our various collateral pieces. So if we intend to be briefer and clearer this year, we must think more like a member and less like staff (i.e., What’s in it for me?).

Finally, as someone who often wears the marketing hat by default, allow me to boldly recommend being funner in 2014. Before crucifying me for my use of this non-word, I’ve used it here to illustrate the following point: Have fun, occasionally break from the style guide and use an authentic voice that’s relatable and engaging.

Used together, I’m certain the briefer-clearer-funner approach will increase open rates and readership across your various communications. And, ultimately, this will snowball into engagement, attendance, membership and other success metrics identified by your organization.

Tell us in the comments what you discovered in your moments of reflection this snow day. How might your organization employ the briefer-clearer-funner approach this year?




meet aaron

Association learning strategist & meetings coach. Founder & president of Event Garde. Passionate about cooking, running, blogging, old homes, unclehood & pet parenting (thanks to Lillie the pup).

meet kristen

Writer, editor, public relations professional. Digital content manager. Proud mom of three. Total word geek. Spartan for life.

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