By Robert Cordray
Capitalizing on Your Event Metrics
If you are not making good use of your event analytics, then you are just keeping yourself busy. On the other hand, If you are taking advantage of the wealth of information collected from all the effort and expense, then you are on the winning side of planning future events to your best possible advantage in gaining and converting solid leads. It is possible to drill way down on the information gathered from both the event and the revenue gained from leads obtained as a result of an event. Careful study and analysis of the data collected, as described in the post, “Essential Metrics to Track after Your Event,” are essential to achieve the highest efficiency and avoid getting lost in the weeds.
A Useful Tool for Event Managers
Event managers need to know what to protect and what to eliminate in order to effectively deliver solid leads that generate increased revenue and maintain a healthy pipeline for future business. Tools like Hubspot can provide an all-in-one interface for tracking these efforts, and hubspot integrations like Datahero can make the visualization of these efforts very efficient. Event metrics are invaluable for justifying events based upon the value they represent for the organization and to capitalize on any additional revenue generating opportunities.
Make Your Metrics Mean Something
Economic fluctuations determine strategies more quickly today than in the past. The pace of technological advances result in changing business trends in quick time. Quantitative measurements are nearly superseding qualitative measures. Meaningful metrics must articulate the dynamic needs now and into the future. The data gathered are the reliable means to protect event strategies in the latter quarter of the year that might otherwise suffer cost-cutting efforts.
Executives are eager to get to the bottom line. The goal is the sales data resulting from a given event. For event managers, a major focus is in the ability to determine how the results of any given event may be improved upon.
Event planning is a means to an end: Gold mining for good leads. Just as the data gathered after an event render a wide range of metrics, it is important to pursue the promising leads out of the large volume collected.
Gain an Edge in How You Collate the Statistics
It is helpful to pursue an intelligent lead management solution while assuring
comparisons and effectiveness moving from one event to the next. Combining separate datasets allows for more effective analysis. Seamlessly combining sales and event data allow for a single place from which leads are tracked and funneled. By their presence, event attendees inform your business in ways that allow for tailoring the experience to better meet their needs in the future.
Knowing Which Leads to Pursue Makes the Effort Worthwhile
Importing reports for more comprehensive data manipulation creates robust results that enable you to target with specificity. Accounting for expenses particularly justifies where the efforts are best focused. It is one thing to be playing to your captive audience; it is another to turn those prospective leads into solid leads even if the pursuit takes another year or two. Dynamic analysis pinpoints lead sources and provides for increasing the overall quantity of opportunities resulting from each event.
Follow-up with attendees after an event is made easier with the use of survey templates designed to target feedback. Importing survey data, filtering and chart segmenting fills in the blanks when seeking to define the class of VIP ticket, for instance. The versatility with which you may visualize the survey data allow you to query the results in a fashion that fulfills your aims.
The ability to measure the effectiveness of your events from both sides of the production turns the event into an effective tool. As with any intelligent approach, the ideas on how to improve continue to advance with each event. The forward progression of gaining a perspective from both the sales and attendee feedback provide definitive concepts and understanding as to how to make the most of all your resources.
Robert Cordray is a former business consultant and entrepreneur with over 20 years of experience and a wide variety of knowledge in multiple areas of the industry. Follow him at @RobertCordray.
