Tracking Return on Investment (ROI) for brand activations at consumer events can be tricky, but it’s crucial for understanding their impact. Here’s how you can tackle this challenge and some best practices to keep in mind:
One of the biggest hurdles is dealing with fragmented data. Brand activations usually span multiple channels and touchpoints, making it tough to gather all the relevant data into a single view. You need to pull together data from social media, on-site interactions, surveys, and more to get a complete picture.
Brand activations often lead to benefits that are hard to quantify, like increased brand awareness, improved brand perception, and emotional connections with the audience. These intangible benefits don’t have a direct monetary value but are crucial for long-term brand success.
Unlike traditional advertising campaigns, brand activations are short-lived. Metrics like foot traffic or social impressions collected during the event can provide some insights, but they don’t capture the full impact, which might be felt weeks or months later.
Before your event, set specific and measurable goals. Whether it’s increasing social media engagement, collecting leads, or boosting brand awareness, having clear objectives will help you measure success more effectively.
Invest in tools that can track engagement across multiple channels. Platforms like AnyRoad offer ways to collect first-party data, helping you understand your activation’s impact on brand awareness and loyalty.
Pre-testing your activation concepts can predict how well they’ll engage your audience. This involves testing elements before the event to refine them for maximum impact.
Engage with participants during the event using mobile surveys or chat-based feedback tools. This real-time data can give you immediate insights into how well your activation is resonating with your audience.
Follow up with attendees after the event to gauge long-term impact. Surveys can help measure changes in brand perception and customer sentiment. This feedback is vital for understanding the lasting effects of your activation.
Monitor how much your brand is being seen during and after the event. Track media mentions, social media impressions, and press coverage to understand the reach of your activation.
Measure how deeply your audience is engaging with your brand. Look at social media interactions, event attendance, and participant engagement metrics like likes, shares, and comments.
Track the number of new leads generated. This could include email sign-ups, newsletter subscriptions, or direct inquiries from the event.
Gather feedback through surveys and analyze online reviews to measure changes in brand sentiment and customer loyalty.
If you’re using influencers, monitor their reach and engagement. Track metrics like website traffic, social media reach, and follower growth linked to influencer activities.
Tracking ROI for brand activations at consumer events is challenging but essential for understanding their true impact. By setting clear goals, using advanced analytics, and gathering both real-time and post-event feedback, you can get a better handle on how these activations are boosting your brand. Remember, the goal is to create lasting impressions and build strong connections with your audience, which are invaluable for long-term brand success.
