Data are key to improving your events, to giving your customers and potential clients what they crave. But how do you know which data are important?
It’s something called event intelligence, the subject of a new(ish) Professional Convention Management Association whitepaper by Eric Olson, CEO and president of Zerista, and Staci Clark, global marketing strategy manager for Cisco Systems.
Simply put: It’s about more than numbers on a page or stats.
“The data available to us today goes well beyond simple reports, like how many people showed up to an event,” Olson and Clark said. “New technologies and reporting tools are moving event data usage from a traditional focus on topline metrics, which provide a quick readout of your event, to a deeper dive into analytics that provides valuable context.”
The best way to tackle this? Combining quantitative (hard) and qualitative (soft) data. A good example: Measure how much your event gives back to the organization. For an exhibitor-focused event, after you’ve asked the questions about budget and purchase intent, evaluate whether exhibitors attended sessions or product demonstrations for new solutions or products. If so, chances are, you met their customized needs.
At the same time, be wary of big, flashy numbers, Olson and Clark warn. While it’s tempting to focus on record attendance, if your event isn’t drawing the right crowd for, say, your exhibitors, it doesn’t matter how many attendees you have. In other words, it’s the right mix of quality and quantity.
According to the whitepaper, there are three building blocks for event intelligence: attendee intelligence, operational efficiency and performance and business value measurements.
Attendee intelligence focuses on demographic and behavioral information. What are your attendees’ buying patterns? What are their interests? Data are gathered through survey and registration systems and once gathered, your organization can analyze data for patterns (i.e. technology interest).
Operational efficiency is less exciting, but equally important. Areas of focus include spend data, food and beverage stats and registration and housing trends. Such information will allow your organization to spend less to do more. Not to mention, you can ensure your attendees are well feed and that they’re comfortable in the space you’ve allotted.
Finally, business value: Don’t stray from your business goals. Identify and write down your organization’s ultimate goal. Do you want to increase your participation by 100 participants? Do you want 150 more vendors? Do you want to net $10,000 more in revenue? Make sure everything you do is aligned with your goals.
“Events have changed. Every stakeholder expects more,” Olson and Clark said. “And the key to serving them better is locked in the data that surrounds every experience. Every event organizer should be focused on data. Yet, with deadlines to hit and events to produce, can event organizers be expected to do it all?”
Yes, but keep it simple:
- Collect as much data as you can, even if you don’t use it.
- Set measurable business goals before you start analyzing data.
- Focus on what’s important. If you can’t change something with a set of data, ignore it.
- Bring in the experts. Don’t be afraid to ask for help analyzing your data.
Tell us: How do you gather and use data for your events?