Business Challenge
Brunswick WDI (now known as BNT-Redberri), a maker of open
source application middleware, desired to reposition
its leading product for commercial licensing. Although
the open source software was a big hit, the company
wanted to reap more financial benefits.
Its PR firm,
Tech Image, had delivered strategic media placements
in 2003 and the first half of 2004, but now
the company wanted to go directly to its prime prospects
before promoting its product launch through key trade publications.
The
company called upon Tech Image to develop a plan that
would simultaneously launch its new commercially licensed
middleware product, Redberri, while building credibility
with its core audience through a special event.
Because
of the multitude of events held in a city like Chicago
each week, the strategy had its risks. The event
would have to pique the interest of prospects enough
that they would forgo other competing gatherings.
Solution
Tech Image developed plans for a conference on Service-Oriented
Architecture, where Brunswick WDI prospects could
learn from leading SOA and Web services speakers
and panelists,
and obtain practical advice for implementation in
their enterprises or – in the case of Value-Added
Resellers, Systems Integrators and Independent Software
Vendors – in
their actual products.
Tech Image recommended that
the venue for such an event speak to the newness
of SOA, and how older
products
and platforms could be transformed to work in today’s
business environment, saving cost-conscious CIOs
on their already scant IT resources.
The agency selected
Chicago’s historic Soldier Field,
which had been recently renovated, for the event.
The architecture of Soldier Field served as a metaphor
for synergy of old
and new.
Results
Tech Image, and graphic design partner Pepper Group,
delivered a successful event for Brunswick WDI in
July 2004. With
more than 100 qualified participants, Brunswick WDI
witnessed an event that served to educate the audience
on SOA,
Service-Oriented Integration and Web services through
a main address by
ZapThink Analyst Jason Bloomberg, the foremost authority
on SOA and Web services; a panel discussion of Brunswick
WDI partners moderated by Beth Schultz of Network
World Magazine; and individual roundtable discussions.
Moreover, Brunswick WDI introduced Redberri through
a brief presentation, which was followed by strong
interest
in
product demonstrations. The event concluded with
each attendee receiving a Redberri care package,
which included
a 30-day
free trial of the software.
"Your diligent work throughout the planning process
enabled us to present a professionally run event with
strong
attention to detail. From briefing our speakers and
panel members,
to communicating our wants and needs to the vendors
servicing the event, Tech Image delivered in every
respect."
—
Raj Rao, General Manager, Brunswick WDI
Brunswick WDI
performed an ROI analysis based upon immediate results
from the event that Tech Image
orchestrated. The following calculations led them
to believe that
they
will
achieve a minimal 125% ROI.
Redberri – Product
Price = $12,500 (to resellers, WDI’s primary
audience)
Step 1 – Amount to be invested – Investment:
$125,000 – SOA Conference on July 16, 2004
Step
2 – Number of people exposed + estimated word
of mouth – Exposure: 100 attendees [x2] = 200
Step
3 – Hand raisers – Interest: 200 [x 25%]
= 50
Step 4 – Percent of interested parties
who buy – Conversion:
50 x [25%] = 12.5 (25% is WDI’s average conversion
rate for qualified leads)
Step 5 – Price x Conversion
x Annual Repeat = Revenue: $12,500 x 12.5 x 1 = $156,250
Step
6 – R.O.I.: Invested $125,000
: Revenues Generated: $156,250 :{Revenue as percentage
of investment} = 125% ROI
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