Jonathan Yaffe (Speaker) CEO and Co-Founder, AnyRoad
Today, brands large and small understand the impact of experiential marketing—the US Bureau of Labor Statistics predicts that the event industry will grow by 44% from 2010 to 2020, and 30% of CMOs plan to spend 30-50% of their budgets on experiential marketing in the next three years. But, until brands start collecting offline data on their customers, just as they capture online data, valuable insights are walking out the door. Jonathan, who discovered firsthand the impact of experiences while producing events for Red Bull, will discuss the power of data in understanding human behavior and fostering brand loyalty, and how ERM is changing the future of marketing and upending way brands build long-term relationships with customers.
8. EVOLUTION OF MARKETING STRATEGIES
DIGITAL/SOCIAL
TV
PRINT
BRANDED EXPERIENCES
Time
Consumer Engagement
9.
10.
11.
12.
13.
14.
15.
16.
17. The top 350 U.S.
consumer brands alone
spent $65B
to engage 81M customers
with live experiences
in 2018.
Yoga Classes Brewery Tastings
Arena Tours
Factory Tours
Art Classes
Brand Homes
Hot Sauce Tours HNWI Events
(more than attended a live concert)
17
18. There is no system that can take the data
from these experiences, make it digital,
and use it to bridge the offline and online
worlds.
19. BASELINE
Data collection of what is
actually happening
across the experiences
for both the consumers
and the brands
BENCHMARK
Compare your KPIs and outcomes
to the industry benchmark
SEGMENTATION
Once you have baseline data
you can segment the data for
further Brand, Marketing or
Operational insights
A/B TEST
Identify opportunities for
improvement from baseline,
benchmark and/ or segmented
data. A/B test experiences for any
KPI in the same way that digital
marketing would A/B test
facebook or google adwords
PREDICTIVE
Use predictive insights
to put the right
consumers in the right
experiences in order to
maximize your RoE
Experiential Data Framework
20.
21. 21
CASE STUDY:
Anheuser-Busch
1010 locations
50k experiences
1.6M visitors per year
Brand conversion Rate: AB-Inbev
now measures exactly what % of
non-Promoters began loving the
brand post-experience
28. How can we turn live visitor
behavior into actionable analytics
and ROI for the first time?
Behavior into Insights
Channel segmentation
Purchase behavior
NPS score
Loyalty
Reviews
Social Posting
Geolocation
Merchandise sales
29.
30. Brand Conversion Rate
The % of people who were not promoters
who became Promoters (Brand
Advocates) after the experience
Net Promoter Score
“How likely, on a scale of 0 to 10, are you to recommend
to a friend?”
Promoters Passives Detractors
Brand Conversion Rate
51%
of visitors are not Promoters
NET PROMOTER SCORE® (NPS®)
Calculated based on the answers to the question:
How likely, on a scale of 0 to 10, are you to
recommend to a friend?
additional visitors converted
to Promoters
38%
31.
32.
33.
34.
35.
36. “The two richest data sets in the economy —
experience data (X-data) that tells you why
and operational data (O-data) that tells you
what is happening — paint a complete picture
that fuels intelligent enterprises so they can
deliver superior experiences.”
– Robert Enslin, President,
CLOUD AT SAP
36
Start discussion on what makes AnyRoad relelvnat today: 1 as reported by HBR we have shifted from services to experiences driven in part by millenials and its clearly translated into marketing strategies- from print, digital, to experience based marketing. THESE ECONOMIC AND BUSINESS MODELS/FORCES THAT MAKE US RELEVANT. THIS IS WHAT WE’RE HELPING MARKETERS DO
We have our own proprietary data framework for experiential which we’ve broken out into 5 categories.
Baseline- live data that tells you whats happening across the experience
Benchmark data- allows your to measure your KPI’s and oucomes against industry benchmarks. As a side note, we have over 250K experiences in our data base with tens of millions of data points
Segmentation- Once you have baseline and benchmark you can do deep segmentation to identify whats working, and whats not, and find opportuniesi to improve
Optimization- Once you have that understanding, you can A/B test across experiences. The same way you would with Google Adwords etc.
Predictive- As you begin to understand what works well , you can use insights to maximize your RoE
The reason we have this represented as a circle is because this is on going learning and optimization
Are you familiar with NPS? Great. BCR is our proprietary metric of the % of people who were not promoters and became promoters. This looks at the % of who your experiences has converted to brand promoters.