Brand experience agency BEcause Australia has rolled out a new strategic planning tool, designed in-house by its UK headquarters allowing clients to model and measure the full impact of their experiential campaigns on brand value for the first time.
BEcause’s new Brand Value Generator (BVG) takes a scientific approach to the long-standing challenge of evaluating the wider impact of experiential marketing campaigns. Using multiple data fields, it helps clients predict both hard returns such as increased sales and numbers of buyers, as well as softer measures such as the word of mouth effect, social media buzz and brand love.
The tool works by inputting a range of known variables about the brand and its market performance, and calculating probable results using extensive historical data from over 800 campaigns (and insights gained from 50 million face to face brand conversations). The results are then benchmarked against industry averages.
During pre-campaign planning, the Brand Value Generator is used to compare different strategic approaches, and determine the optimal campaign structure. During and after the campaign, the tool allows brands to measure effectiveness against expectations and industry averages.
Meredith Cranmer, managing partner of BEcause Australia comments: “For many years, experiential marketing has been challenged with how to measure the full impact of campaigns. Our Brand Value Generator tool takes a scientific approach to planning and predicting the overall success of experiential campaigns – from hard financial returns to the softer benefits of this influential marketing medium.”
The BEcause UK team worked closely with a third party strategic brand consultancy in developing its new tool. The launch of the tool comes following the unveiling of BEcause’s new brand positioning and website last month.