IMI International - Marketing ROI Consulting Via Consumer Insights » EMF

Returning Event Attendees Drive ROI

Tim Bishop — Wed, 18 Aug 2010 18:05:21 +0000

In partnership with the Experiential Marketing Forum, EMF, the latest research article has recently been posted to the IMI International Downloads page. This month’s topic focuses on repeat experiential event attendees and how those who return to events have been shown to have greater brand love and purchase intent for participating brands.

Relative to single event visitors, repeat visitors in this actual in-market case study register incremental impact on experiential event activations regarding these key measures. For brands looking to drive greater ROI, experiential activations should encourage attendees to come back to events. Give attendees a compelling reason to return, possibly by including special offers, e-reminders, bring-a-friend vouchers, etc to deliver additional value and incentives.

To view the actual case study statistics, broken out by both first-time event attendees and repeat visitors, plus on brand love and purchase intent, please click on the links below for the full article.

For more information on the EMF, visit http://www.experientialforum.com/ where you can join to receive regular updates on the latest experiential news, research and insights. The EMF / IMI International research articles are also available for viewing on IMI International’s Downloads page.

Recommendations: Live Versus Web

Tim Bishop — Fri, 02 Jul 2010 18:06:02 +0000

In partnership with the Experiential Marketing Forum, EMF, the latest research article has recently been posted to the IMI International Downloads page. This month’s topic focuses on how product recommendations are trusted, depending on the medium in which they are received. The learning from a recent IMI International case study is that recommendations are trusted most in person or over the phone and less via social media.

In general, people are more likely to act on face-to-face product recommendations, versus those sent via social media. While this holds for youth, they are more likely to act on all types of recommendations, especially from close contacts, regardless of mode used to receive the recommendation.

Fundamentally, effective experiential marketing should have a compelling consumer focus which can often lead to increased word-of-mouth for participating brands. Social media can be effective at facilitating WOM among youth, as it is integral in their lives and it does not lose impact like it does for adults.

To view the actual case study statistics, broken out by both age (youth versus adults) and by whom (friends, family and acquaintances), please click on the links below for the full article.

Price Versus Value Debate

Tim Bishop — Tue, 08 Jun 2010 17:06:49 +0000

Recently on the EMF posts, there has been a lot of reference to a change in consumer buying habits as a result of the economic conditions in recent times. One such article referenced from Comscore suggests consumers are trading down in price and becoming less loyal to National brands. Just last week, another EMF post referenced an article from the Globe & Mail suggesting consumers consider short-term reward more strongly than the long-term gains. Thus consumers are irrational, and it has been argued that this emotional context needs to be overlaid to more rational economic models.

These two articles provided impetus to share with the EMF membership what we at IMI International have learned about changes to consumer buying habits from a proprietary study we fielded called “Building Your Brand in Turbulent Times”. We asked some questions that could be benchmarked versus more “normal” times in 2007, fielded during the ‘dark days’ of January 2009 and followed up again in early 2010 to see which of these changes have a lasting effect.

First, our study agreed with both the articles referenced above:

i) Consumers are indeed trading down to the lowest price more often now than in 2007 (for details, please see the June 2010 EMF/IMI research article in the members section on the EMF site or on IMI International’s Downloads page).

ii) What is interesting, however, is the consideration of “short-term reward” in this environment. Consumers have also increased their consideration for the “best quality”—while this seems inconsistent, consider that there has also been a consistent increase in the attitude that it is “worth spending more time to be a smart shopper”.

iii) Another finding reflects a return to the importance of Brand Name products versus price considerations, after a dip in 2009.

Some other category studies we have done at IMI International (from snack food to autos) lead us to conclude that some of the switching to low priced alternatives may not have turned out so well, and the consumer has learned from this experience. For bigger purchases, you’ll know this as “buyer’s remorse”.

One of the key pieces that was missing for me from the previous articles was a big “Now What” – as a marketer or a person working at an agency, what can I do about it? This thinking is precisely why we added other questions around value, brand benefits and price (essentially, inputs into the value equation) into our Turbulent Times study. The conclusions we make provide some clear actions steps for EMF members, as price and value are intricately linked.

To summarize action steps for this audience, we would suggest the following:

i) Do your homework to determine your brand’s unique value proposition. That is – which brand in my portfolio represents high value, which benefits can I highlight to illustrate added value versus my competition (i.e. ‘washes more dishes’ versus ‘soft on hands’…) and,

ii) How can I best showcase these benefits to overcome potential purchase barriers?

While price discounting is a tactic that can be used, and is always a consideration, it tends to erode brand equity (and ROI/margins) over the long term. Our consistent learning for over 15 years has illustrated the power of Experiential Marketing as an excellent method to convey new benefits or activate new learning areas, whether it is to overcome a shared barrier or perception, showcasing new value benefits or illustrating new ‘reasons to believe’.

So, it’s time to act. Consumers are still buying. Our shared challenge is to break through the spending concerns that this economic environment has brought to consumers and make them feel good again, as “smart shoppers”.

Agency & Client Experiential Alignment

Tim Bishop — Wed, 12 May 2010 16:44:31 +0000

Highlights from a recent IMI International study among senior Agency & Client personnel shows that Agencies may be more in-tune with the dramatic impact that Experiential Marketing can have. Further, close to half of both Agencies and Clients think it is a tactic that should be “used more” since it is perceived to be “effective”.

As a result of the study, it is recommended that Agencies should continue to provide Clients with fact-based insights on effectiveness in order to establish confidence and investment in experiential marketing.

Experiential Engagement Drives ROI

Tim Bishop — Mon, 05 Apr 2010 15:16:32 +0000

In partnership with the Experiential Marketing Forum, EMF, two research articles have recently been posted to the IMI International Downloads page. These articles cover topics ranging from, first, 2010 Olympic Fan Engagement as it relates to fit and passion to the property, and second, where shopper marketing and experiential marketing can best align.

Insights from the 2010 Vancouver Olympic Games:
IMI International completed an extensive consumer study that highlights how sponsoring brands performed at the Games. As is relates to experiential marketing, IMI International learnings showed that highly engaged fans who follow their sports properties closely has a direct impact on brand attitudes and purchase intent. It’s clear that the bigger the fan, the stronger the increases in these critical ROI measures.

Shopper Marketing Insights:
Shopper marketing grows in importance for brands, agencies and retailers, and measuring its full impact is also growing in importance: Understand the direct and peripheral impacts that experiential marketing can generate in stores. In this case study, experientially-activated shopper marketing campaigns show that they can change purchase shopping behavior patterns over time. For marketers, agencies and retailers, it’s important to remember that effective measurement should capture the full ROI impact including featured and peripheral brands. Be sure to get all the credit you deserve!

Measuring & Optimizing Experiential

Tim Bishop — Thu, 11 Feb 2010 17:01:16 +0000

Experiential Marketing Forum (EMF) members continue to learn with IMI International as part of the forum partnership to keep members abreast of the latest insights, research and methodologies in the industry.

This month’s topic is “How to Measure & Optimize Experiential Marketing” which is a three-step process:

Isolate the experiential impact versus other marketing campaign drivers
Use consistent measures, with the key categories being efficiency (reach), effectiveness (residual impact) and cost effectiveness ($ cost for the gains)
Compare results to an objective database in order to show relative program strength

With this consistent approach, experiential programs can be evaluated against each other and against various marketing programs.

For experiential programs, as with all marketing campaigns, it is imperative to focus on targeted reach and conversion to actual program impact. Further, leveraging IMI International’s best practices by dollarizing experiential impact via a ‘Cost Per Impacted Consumer’ model equalizes all campaigns so the best, fact-based marketing investment decisions can be made.

For more information on the EMF, visit www.experientialforum.com where you can join to receive regular updates on the latest experiential news, research and insights. The EMF / IMI International research articles are also available for viewing on IMI International’s Downloads page.

Experiential Plus Digital Drives Sales

Tim Bishop — Fri, 08 Jan 2010 15:22:12 +0000

With both experiential marketing and digital media campaigns attracting significant attention from marketers, brands and agencies, it’s important to understand how to best leverage these powerful communication tools.

IMI International’s latest consumer research, on behalf of Experiential Marketing Forum (EMF) members globally, reveals that experiential programs that include a push to web can drive stronger conversion to purchase by extending the live experience and brand conversations to online.

In fact, the EMF / IMI International study shows that brands can actually drive a 30% lift in purchases according to recent marketing program evaluations. This is key for long-term brand gains, especially beyond the cluttered retail environment.

New Experiential Marketing Insights

Tim Bishop — Fri, 04 Dec 2009 17:27:08 +0000

As part of a continued commitment to sharing relevant insights with leading experiential marketers around the world, IMI International is regularly providing Experiential Marketing Forum (EMF) members with research articles.

Erik Hauser, founder of the EMF, noted a large gap in case studies, best practice learnings and research-validated insight in the field of experiential marketing. Thus, the partnership between the EMF and IMI International was born to deliver just that.

The newest articles focus on experiential optimization and evaluation, including “Optimizing Experiential Interaction Time to Impact Purchases” and “Mass or Experiential – the Cost Per Impact is Equal”. These articles are now available on the EMF website to members.

Adweek: Experiential ROI & WOM

Tim Bishop — Wed, 14 Oct 2009 14:41:13 +0000

The EMF’s research articles were quoted in October’s Adweek Experiential Marketing Edition where IMI International, the research partner of the EMF, provided perspective on Experiential Marketing’s ability to drive enhanced ROI via word of mouth.

THE VALUE QUESTION

Can experiential marketing improve a company’s bottom line? Doubts remain over the method’s perceived lack of reach and ability to demonstrate ROI. That latter concern was cited by 76% of the respondents in Jack Morton’s spring 2009 survey. “Even though almost seven in 10 say they are measuring experiential, an even greater number feel they can do a better job of demonstrating its value,” the report states, adding: “69% of the marketers surveyed agree that ‘leveraging experiential strategically, rather than tactically,’ is a key obstacle.”

Such criticisms, however, are strongly refuted by experiential marketing experts. One of their counter-arguments is that the benefits of experiential programs are felt way beyond their initial impact. A recent study by EMF and IMI International, for example, revealed that a program with a target sample of 200,000 individuals can, through word of mouth, ultimately reach 2.5 million people.

For more, please read the full Adweek article by clicking on the link in the Media section on our Downloads page.

Experiential Forum Partnership Launch

Tim Bishop — Mon, 24 Aug 2009 20:27:34 +0000

ATLANTA, USA – September 1, 2009 – The Experiential Marketing Forum is proud to announce that IMI International, a leading global marketing consulting and research firm, will be providing the EMF with a research forum with monthly insights and perspectives on topics that matter most to experiential marketers around the world.

The Experiential Marketing Forum, the largest global community of experiential marketing practitioners with over 8,000 members, seeks to expand its role in the development and communication of fact-based research methods and insights.

Designed to be relevant, timely and informative, IMI International’s best-in-class insights will allow the Experiential Marketing Forum community to experience elements of the vast database of insights and best practices that IMI International has developed. “IMI has been a great partner at delivering on market-proven principles, as well as the unexpected insights that they have become known for”, says Erik Hauser, the EMF’s founder.

Since 1971, IMI has been maximizing clients Marketing ROI through consumer insights that establish best practices in developing, optimizing, executing, and key performance metrics. IMI has completed over 1,500+ experiential marketing campaign evaluations across 10 countries and 50+ categories, covering tactics across sponsorship events, street sampling to in-store and digital initiatives. Clearly, IMI International is well suited to lead this exciting project.

For all current members in the Experiential Marketing Forum, the launch of new insights that highlight the foundation of IMI International’s experiential marketing best practices is very exciting. “Experiential marketing is one of the best ways to impact consumers and deliver quantifiable value to your brand and IMI International is here to help the community meet and exceed its business goals,” says Dan Hunter, Partner of IMI International. “The fun part will be to watch how community members leverage these facts to build on their existing experience and take it to the next level,” said Hunter.

This partnership looks forward to hearing from the experiential marketing community to continue to grow this exciting field.

To view the EMF – IMI International insights, please visit the Experiential Marketing Forum or view IMI International’s Downloads.

About the Experiential Marketing Forum

The Experiential Marketing Forum (EMF) is the center of knowledge for experiential marketing and related subjects. The EMF has several features that help teach individuals about experiential marketing methodology and related topics. The EMF community has more than 8,000 members from around the globe, and currently is translated into 11 languages. The EMF is a virtual “think tank” of professionals, students and others who share ideas and keep abreast of trends in media on a daily basis. The Experiential Marketing Forum can be found at www.experientialforum.com.

About IMI International

IMI International is a leading global marketing consulting and research firm with offices in the United States, the United Kingdom, Canada and Australia. Focused on improving its Fortune 500 clients’ marketing effectiveness, IMI International evaluates and optimizes brand activation campaigns to meet brand and sales objectives while achieving the highest ROI possible. Privately held, IMI International has a robust database of action standards sourced from over 9,000 marketing evaluations over the last 35+ years across 80 product and service categories in 15 countries. For more information on IMI International, please contact Dan Hunter at dhunter@consultIMI.com.