For many experiential marketing campaigns, collecting data from participants is typically a top goal. But is your collection activity feeding the sales funnel with qualified prospects or simply filling a bucket of worthless – even costly – data that isn’t actionable or leading to sales?
We once ran a lead generation program for a NASCAR sponsor where race fans lined up around the corner to hand over their social security numbers (pre-identity theft days of course) in exchange for a free t-shirt. For that client, by focusing on outputs (number of consumers completing a form) filling the bucket was the only goal. Unfortunately, that approach resulted in the vast majority of leads being disqualified by the sales organization. Most consumers were only interested in a free t-shirt.
On the other hand, one of the campaign goals of an existing client is capturing data from event attendees. The primary success metric for this program, however, is not filling the bucket. It’s filling the sales funnel. Therefore, success is measured not by the output but instead by the outcome (number of consumers opting-in to their robust CRM platform) which supports the overall marketing objective of identifying prospects and nurturing them into becoming buyers.
Not to imply that you can’t secure large quantities of high quality data but to do that, you must have the right strategic approach and tactical plan.
Submitted by Paul Duffy/EVP Client Services and Agency Operations