Audience Metrix to Focus on Event-Based Corporate Market Research
Corporate events are a goldmine for customer insights
TAOS, N.M., March 14, 2012 /PRNewswire-iReach/ — Citing the need for corporate marketers to demonstrate a return on their investment in customer events, industry veterans Kevin O’Neill and Christopher Korody today announced the formation of their new partnership, Audience Metrix LLC. Says O’Neill, “Event budgets regularly exceed SuperBowl ad buys…yet measuring event results against business goals is often an afterthought. At the same time, CMO’s are being asked to show a return on every dollar. Our research enables corporate event sponsors to demonstrate their contribution to the topline.”
Says Korody, “The need to understand the customer, to build one-on-one relationships and to manage those relationships across physical and virtual events continues to grow. We’ve both been focusing on different things, but when SAP renewed our contract for the 2012 SAPPHIRE NOW program, we knew that the timing was right to bring our proven offering to market.”
Adds Korody, “Beyond ROI, events offer an unparalleled opportunity for corporations to gain insights into their best customers. Our clients are interested in things like ‘how does the event impact brand perception?’ We can tell them where they are doing well, and where they need to do more. We can also help them to determine whether their events are effective at driving pipeline, and if they are being successful at getting customers to consider additional offerings.”
“The next big thing is understanding how the event experience informs an attendees online behavior. One thing that we are looking at is if a correlation exists between the attendee event experience and the Twitter comments that are generated at these kinds of meetings,” says O’Neill.
Traditional event measurement focuses on logistics and execution which is used by the event team, and lead counts gathered by sales. Neither yields the actionable analysis that executives need to improve the value of their event, insure its relevance and guide future investment. Audience Metrix is meeting this need by developing research programs based on the corporation’s own critical success indicators.
Explains O’Neill, “Value is created when data is measured in an objective framework that is consistent with the way that the enterprise defines success. Our goal is to provide analysis that is seen as valuable by the entire organization – not just by one department or group.” (See attached diagram)
The company conducts research using a combination of custom instruments hosted on a cloud-based system, as well as attendee’s own handheld devices. They also leverage available data from registration and session evaluations; then use tools like the SPSS Predictive Analytics suite to perform segmentation studies, and do qualitative analysis using text analytics.
Audience Metrix brings together experience in measurement, consulting, management and event production.
Korody and O’Neill began working together in 2001, when they first did post-event analysis for PeopleSoft customer events. Since then they have worked together on annual projects for George P Johnson clients Sun Microsystems, JavaOne and AMD.
Kevin O’Neill founded Audience Insights, was Vice President of Research, Business Research Group and is a Booz Allen alumnus. Christopher Korody founded ckwrites.com and was a senior creative with Dick Clark, Jack Morton Worldwide and George P Johnson. The newest member, deMarie Malnar recently left CA Technologies after six years as the Director of Global Event Marketing and Communication.
Says Malnar, “I really hadn’t considered joining a consulting firm. What appeals to me is that Audience Metrix is already looking at the issues my management was starting to ask me about. We have the tools and the experience that senior managers need to make better decisions about their high dollar, high profile events. I don’t know of anyone else with a similar offering.”
The Convention Industries Council in their report “The Economic Significance of Meetings to the U.S. Economy” (2/2011) put the Meeting Industry’s direct contribution to the U.S. economy at 263 billion dollars. Of the 1.8 million meetings held annually, 1.3 million are classified as corporate or business meetings.
About Audience Metrix
Audience Metrix is a marketing research firm that specializes in conducting primary research at corporate events. They design and implement customized research programs using a multi-disciplinary approach that combines deep experience in statistics, marketing management and live event production.
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