The Marketing Accountability Standards Board (MASB) has certified the DE-YAN Experiential Revenue Impact Calculator (ERIC). The new tool has been added to the MASB Marketing Metric Catalog.
Commissioned by DE-YAN, the study behind ERIC was conducted in collaboration with independent market intelligence firm Avasta, Inc. The resulting tool provides a standardized analytic approach for calculating the return on investment of event, live sponsorship, and other experiential marketing. By inputting survey-based marketing data and relevant benchmarks, ERIC generates quantified estimates of projected campaign outcomes and value prior to execution and appraisal of these after execution.
“Too many brands evaluate their events based on vibes or press coverage, ERIC changes things,” said Stephen Martell, Chief Innovation Officer at DE-YAN. “We can now predict the true revenue value of every event we deliver.”
DE-YAN is a global brand experience studio with teams across North America, Latin America, and the EU. Driven by the belief that experiences are a brand’s fastest, most effective shortcut to improving all marketing channel performance, DE-YAN commissioned the study to define the true impact of premium live experiences. The result: a qualified and measurable approach to live experiences that can shift marketing from a cost center to a profit center.
“MASB is pleased to confer metric certification on the DE-YAN Experiential Revenue Impact Calculator, which brings much-needed rigor and transparency to financial attribution in experiential marketing,” said Frank Findley, Executive Director of MASB. “Our work in sponsorship accountability has consistently identified measuring financial return as a key area for improvement, and ERIC’s analytic approach represents a meaningful step forward in helping marketers quantify and validate experiential impact.”
The MASB Marketing Metric Certification team reviews metrics, algorithms, and software using its Marketing Metric Accountability Protocol (MMAP), which includes the conceptual linking of marketing activities to intermediate marketing outcomes and to cash drivers of the business. MMAP also includes a review of metrics and frameworks on the 10 Characteristics of an Ideal Metric: relevant, predictive, objective, calibrated, reliable, sensitive, simple, causal, transparent, and quality assured.
The conclusion of this review was that the ERIC approach provides a pragmatic framework for calculating and projecting both the total return on investment and marginal return on investment from experiential marketing that considers direct purchases, digital amplification, word-of-mouth, extended lifetime purchases, and event costs.
For more information on marketing metric certification, contact info@themasb.org. For more information on ERIC, contact DE-YAN.