Live marketing/event/promotion agencies (from here on referred to as live marketing agencies) handle marketing and advertising activities for their clients. The main purpose of these marketing activities is an increase in brand awareness and product knowledge.
The responsibilities of a live marketing agency include the development, conceptualisation and planning of a marketing campaign, the recruiting and training of staff, and finally the execution of the marketing activity itself.
Live marketing activities can take different forms – promotions, POS/retail samplings, merchandising, product launch events, roadshows, etc. – depending on the brand, product, budget, and desired effect of the campaign.
There are many different agencies that offer such services to their clients, so how can an agency stand out against its competitors?
If the goal of a live marketing campaign is to create brand awareness, how does an agency or a client know how much brand awareness was created with a campaign?
How can an agency measure the success of a live marketing campaign?
A live marketing campaign should not be finished when the last sampling product was handed out or when the product launch event is over. On the contrary, once a campaign has been executed one of the most important parts follows – the analysis of the performance of the campaign.
In today’s world, it is getting ever more important to base decisions on consistent data. Agencies that offer their clients analytics services that allow them to measure the effectiveness of marketing activities and to make data-driven decisions can stand out against their competitors that don’t offer similar services.
For activities like promotions or POS/retail samplings, for example, the easy way would be to simply count the number of products that were distributed. Focusing on such metrics, however, provides only a distorted reflection of the success of a marketing campaign. The absolute number of distributed products should always be put in a broader context as for example what percentage of passers-by was reached with a promotion/sampling?
The data gathered to measure the effectiveness of a live marketing campaign should focus on comparability and conversion rates rather than on absolute values.
This is where footfall analytics comes into play. Footfall analytics refers to the advanced method of counting people who are entering a location. (Find out more about footfall analytics). Good footfall analytics systems go beyond a simple people counting and include additional metrics about customer behaviour that are relevant to the user.
Different businesses from retail to event/promotion agencies and the MICE industry can benefit from tracking footfall. It provides them with meaningful, data-driven insights about their visitor's behaviour that can help them improve customer experience, optimise operations and increase sales.
Footfall analytics systems help live marketing agencies to measure the success of their campaigns. Agencies are provided with important KPIs about the customer behaviour like: opportunities to see, views, returning vs new visitors, dwell time, peak time, interactions, or conversion rate.
With the above-mentioned KPIs, agencies can measure how many people were reached with a specific marketing activity and get valuable information about the performance of a specific marketing activity that goes far beyond absolute numbers.
Agencies can compare the performance of their activities over time or across different locations and they can get insights into different (external factors) that might have an impact on the effectiveness of their activities. This can help them to optimize their activities and increase the success of future campaigns.
While there are various technologies to measure footfall and each of them has different advantages and disadvantages (read more about the different footfall technologies), most of them are not convenient to use for live marketing agencies. As most of the live marketing activities are short-term and often lack a fixed infrastructure, a footfall measurement system has to be easy and quick to install while still providing accurate data.
The technology that stands out is WiFi tracking. WiFi sensors gather footfall data by tracking anonymous smartphone data from visitors. These sensors have an accuracy of between 80-90% and they are very easy to deploy (plug & play).
WiFi sensors can cover a large area and provide KPIs such as opportunities to see, views, returning vs new visitors, dwell time, peak time, interactions, or conversion rate.
WiFi sensors allow live marketing agencies to gather valuable data about the performance of their marketing activities. The agencies can on the one hand use this data for themselves to improve their services and on the other hand, they can offer the analytics system as an additional service to their clients.
Live marketing agencies often don’t have the resources and capabilities to provide analytics services in-house, so the best option is to establish a partnership with a company specialized in people tracking and footfall analytics services.
By entering such a partnership, agencies get the opportunity to offer an additional service to their clients without spending a lot of additional resources on it.
To work well in the long-term, a partnership model should be a “win-win-win” – the analytics company, the agency, and the end-client should all benefit.
A partnership should be based on a split of responsibilities where each party focuses on their core competencies. The analytics company is in charge of all technical aspects like platform setup, campaign configuration, software updates, and data processing while the agency focuses on the sales and marketing aspects as well as on the customer consulting.
By leaving the technical aspects in the hands of the experts of the analytics company, the reliability of the service is guaranteed and agencies don’t have to spend additional resources/time to set up measurements.
Providing their clients with the opportunity to measure and evaluate the performance of their live marketing activities is an important factor that can help agencies to set themselves apart from their competitors.
By becoming a livealytics partner, agencies have access to a reliable analytics solution that allows them to measure their performance, analyse the collected data, and optimize their activities.