2010 healthcare exhibitors association annual meeting: mix-it-up metricsl
DESCRIPTION
This presentation will debunk the myth that there is only one way to measure convention performance.TRANSCRIPT
Mix It Up Metrics
Cindy McCormick, CTSM, MSHolly Stevens, MBAMargaret Crowley, BA
• The opinions expressed in this presentation represent only the presenters' personal views and opinions, and do not represent HCEA's position.
• HCEA wants to ensure that attendees who participate in HCEA meetings feel comfortable speaking freely and asking candid questions during HCEA meeting sessions. Therefore, HCEA requires that any media representative attending an HCEA event obtain the permission of any speaker or attendee before quoting that person in an article.
Introductions
• Cindy McCormick• Holly Stevens• Margaret Crowley
Key Learning's
• Understand what types of metrics are quantitative and which are qualitative.
• Understand how the two types work together to provide a complete picture of together to provide a complete picture of an exhibitor’s performance.
• Take home examples of metrics that can be applied to an individual member’s convention exhibits and events.
Why Measure?
• “If you can measure it, you can manage it”
» Tom Watson, IBM
Why Measure?
• Determine ROI and ROO
• Allocate dollars more effectively
• Demonstrate results / Quantify Value
• Continuous improvement
• Make more informed decisions
Types of Measurement
• Quantitative– Using data to generalize results from a sample– Deals with numbers, percentages– Based on Facts– Objective– Objective– Deductive– “Hard”– Structured & Precise
• Instruments Normally used– Scales, tests, surveys, computer questionnaires
Types of Measurement
• Qualitative– Interpretive– Subject to Analysis– Exploratory– Subjective– Subjective– Descriptive/Expansive– Observational– Open-Ended– Explores attitudes, behaviors, experiences
• Instruments Normally Used– Interviews, observations, focus-groups
What Can Be Measured at a Convention?• In-Booth
– Compliance– Booth Traffic– Flow Through– Qualified contacts
• Out of Booth– Competitor Impact– Other promotional activities
– Qualified contacts– Message retention– Audience quality– Buying plans/interest– Staff effectiveness– Effectiveness of booth promotions
What can be Learned by Measuring• Awareness• Memorability• Perception• Visitor Demographics• Visitor Demographics• Behavior Change• Visitor Quality• Competitor Impact• Impact of Exhibit Activities
Why Mix-It-Up?
• Gives a more in-depth and diverse understanding of outcomes
• Yields insights that neither approach would produce on its ownwould produce on its own
• One piece can “back-up” the other• Different pieces of data will resonate with different stakeholders
• Different pieces of data will satisfy different objectives
Product Lifecycles & How They Change What you Measure
Pre-Launch
• Positioning
• Awareness building
Launch
• Awareness Building
• Image Building
• Segmentation
• Understanding customer
language
• Trial
• Creating Therapy/Brand
Choice
• Establish Relevant Points
of Differentiation
Product Lifecycles & How They Change What you Measure
Growth
• Message/Reinforcement
• Customer Satisfaction
Maturity
• Maintain Market Share
• Improve Compliance
• Therapy/Brand Choice
• Build Usage Compliance
• Promotion
• Value added
Promotions/Programs
• Retain Current
Customers
Case Study 1: Launch of “MELTOMED”
“MELTOMED” Launch Key Points• Meltomed is a first-to-market, new in class treatment for Weight Loss
• Brand Goal: Become the #1 Prescribed Treatment for Weight LossTreatment for Weight Loss
• Brand Objectives:– Increase awareness of “Meltomed” to target audience by at least 75%
– Increase sales by 10% each quarter
“Meltomed” at Conventions• Brand Tactic - Conventions
– Exhibit at convention, 2 months post launch
• Challenge– Develop convention objectives/tactics that support brand objectives– Measure performance of each exhibit tactic against convention
objectives set objectives set
• Convention Objectives That Support Brand Objectives– Show at least a 40% increase in inclination to prescribe after being
booth experience– Teach at least 55% of hcps visiting the exhibit something new by driving
them through all 3 exhibit activities– Show an increase in booth visitor script writing post-convention
“Meltomed” Exhibit Booth Tactics
• Interactive Detailing with Survey Questions
• In-Booth Theater with Audience Response • Resource Center (literature/slide kit • Resource Center (literature/slide kit downloads)
• Hospitality• Medically Relevant Give-Away Item• Exit Interview / Booth Experience Survey
Measurement of Exhibit Tactics
Tactic Metrics Measurement Type
Interactive Detailing Overall # of Presentations Quantitative
Visitor Segmentation Quantitative
% Time Given to Each Product Message Quantitative
Exit Interview % Awareness Increase Quantitative/Qualitative
Awareness (Open-Ended Question) Qualitative
% Customers who Learned Something New Quantitative/Qualitative
% Intentions to Increase Prescribing Qualitative
Opinions on Each Booth Activity Qualitative
In-Booth Theater # People Attending Each Presentation Quantitative
Visitor Segmentation Quantitative
Answers to Audience Response Quantitative/Qualitative
Resource Center # Items Distributed Quantitative
Visitor Segmentation Quantitative
Hospitality # Items Distributed Quantitative
Visitor Segmentation Quantitative
Medically Relevant Giveaway # Items Distributed Quantitative
Interactive Detailing –Segmentation Metric
Who treats ___ patients per month for obesity Who treats ___ patients per month for obesity
Interactive Detailing –# Presentations Metric
20%
21%
Patients respondingby dose
Reductions frombaseline
Time targets spent on each product message
Interactive Detailing
5%
8%
12%
16%
18%
0% 5% 10% 15% 20% 25%
Summary
Mechanism of action
Low incidence ofside effects
Significant heart ratereductions
Effective incombination
Exit Interview: Increased Awareness
Percent of Visitors whose awareness of Nikomed
was increased as a result of the booth visit
75%
70%
80%
Percent of Visitors whose awareness of Meltomed was increased as a result of the booth visit
25%
0%
10%
20%
30%
40%
50%
60%
70%
Yes No
Exit Interview: Learned Something New
Learned Something Newn=103
68%
32%
Yes No
Exit Interview: Inclination to Prescribe
Inclination to Prescribe Nikomedn=104
38% 38%
Inclination to Prescribe Meltomed
22%
2%
More inclined Inclined about the same Less inclined Not applicable
Exit Interview: Most Highly Valued vs. Most Highly Visited
Ranking Most Highly rated
Weighted Average
Most Highly Visited
Per Saw/Visited
1 Book Giveaway
3.90 E-detail 70%
2 Resource 3.85 Book 55%2 Resource Center
3.85 Book Giveaway
55%
3 E-Detail 3.79 Theatre 45%
4 Theater 3.73 Resource Center
33%
4 Hospitality 3.55 Hospitality 25%
Saturday Sunday Monday Tues
Dr. Red(11)21
Dr. Brown(41)57
Dr. Brown(34)48
Dr. Gray16
Dr. Blue(21)35
Dr. Orange(45)53
Dr. Red(12)23
Dr. Violet23
Dr. Yellow(37)40
Dr. Black(23)32
Dr. Yellow(27)36
Dr. White26
Theater Results
Dr. Green(11)26
Dr. Orange(33)50
Dr. Blue(9)9
Dr. Pink22
Dr. Black(14)18
Dr. Violet(18)29
Dr. Violet(10)17
Dr. Gray(22)36
Dr. White(41)50
Dr. Green(18)27
Dr. Green(30)35
Dr. Pink(20)24
211 295 160 87
753 attendees participated in the theatreCost per attendee participating: $111.12
300
250
200
Booth Visitors Control Physicians
Post-Event ROI AnalysisCustom Rx Lift Analysis via IMS’ Alliance Program
200
150
100
50
-11 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 10 11 12
Weeks (after Convention)
* Difference is statistically significant: p-value < 0.01
Convention Date
n (all) = 1,456n (targets) = 793
Conclusion
• The MELTOMED exhibit helped to increase awareness SUCCESS!& raise salesSUCCESS!
Were the Objectives Reached?
• Brand Objectives:– Increase awareness of “Meltomed” to target audience by at least 75%
– Increase sales by 10% each quarter– Increase sales by 10% each quarter
• Objectives Obtained– Meltomed sales increased 50% by year end– Awareness was increased 80% (via fup market research study)
See you next year in Las Vegas, NVLas Vegas, NVJune 25-28, 2011