UFI Marketing Focus Meeting - Amsterdam 2009 - Elling Hamso
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The role of evaluation in marketing mix allocations By: Dr. Elling Hamso, Managing Partner, European ROI Institute, Sandnes, Norway
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UFI Marketing Focus Meeting - Amsterdam 2009 - Elling Hamso
- 1. ROI Methodology for Marketing Mix Allocation Dr. Elling Hamso European Event ROI Institute
- 2. inspire educate persuade connect
- 3. to DO something (not just think or feel)
- 4. which adds VALUE to stakeholders
- 5. at the lowest possible COST
- 6. To INFLUENCE visitors to DO something which adds VALUE to stakeholders at the lowest possible COST
- 7. Satisfaction Learning Application Business Impact ROI The ROI Pyramid Learning (information, skills, relationships, values) Business Impact (revenue or cost)
- 8. Thank you! Thank you!
Notes de l'éditeur
- Key Concept: Clear, detailed definitions of each level of data collection. This is an animated slide; bring in each level separately as you discuss. Ask participants to identify each level as a review activity before you show it. We will collect these six types of data as part of the data collection phase. Let’s not forget the intangibles. The intangibles are those measures that we purposely choose not to convert to monetary value. If we can credibly convert data to a monetary value, we’ll do it. But if we cannot, we leave it as an intangible because it’s still very important. Many of your executives buy into those intangibles. They appreciate those intangibles. And for the most part, executives have funded our meetings in the past on those intangibles. Notice the last line. If you’re taking your evaluation to the ROI level, you MUST include some technique to isolate the effects of your meeting from other influences. Let’s look at the Evaluation Levels. What’s our first level of measurement? Reaction and satisfaction with the meetings. We ask attendees for their reaction. We ask them if and what they plan to do differently as a result of the meeting. This is planned action. “Smile sheets” or on-site evaluation surveys are an example of this level of measurement. What’s our next level of measurement? 2. Learning. What did you learn? What are your takeaways? Did you change your perception or attitude about something? Tests or exams are an example of this level of measurement. So is an electronic audience-response system. What’s our next level of measurement? Application and implementation …what did we do differently as a result of the meeting? What new skills, new tasks, new procedures, new policies have I implemented? What have I done differently? Performance records, interviews with attendees several weeks after an event are ways to measure this. What’s our next level of measurement? What are the consequences of doing something different? That consequence is your business measure . That could be productivity, quality improvement, sample time improvement, employee retention, accidents, attitudes, customer service, sales, customer satisfaction. What’s our next level of measurement? ROI , where we compare the monetary value of the consequence. The monetary benefits of the meeting measured against the total costs of the meeting. Here’s where we need to think of issues such as isolating the effects of our meeting and converting the data to monetary value. BA: Explain Sample based on current presentation Level 1 (Reaction, Satisfaction and Planned Action) is the usual smilesheet -> What did you LIKE / What do you PLAN to do? Level 2 (Learning) is e.g. if you will remember this 5 levels at the end of the presentation Level 3 (Application) is if in your next survey, you apply these 5 levels and calculate the ROI according to the methodology Level 4 (Impact) is if you get new clients, increased budget or a new carreer opportunity based on this knowledge Level 5 (ROI) will be the benefits of above impact calculated against the cost you had to come here…