Now that we’ve conquered mindset with the understanding that we need to continually work hard in order to keep a growth mindset, also understanding that timing does play a large factor, it’s time to move onto the next step in really understanding your organization as a whole and specifically a breakdown of your event behavior.
We will break this out into a few different parts but we will start with holistic organizational analytics.
Holistic Organizational Analytics
What does this mean? I always like to start off with the meaning because everything that we do in our everyday lives has a different meaning and purpose for everybody.
What I mean by holistic organizational analytics is taking the data from your entire organization on everything that you’re doing. For an association that would be membership that would be education that would be events and so much more.
Take that data and put together your member journey, your customer journey, and understand the different steps and interactions that they’re following with you. Once you have outlined the steps you can then take a look at each of those steps, each of those processes, and each of those interactions to truly analyze and figure out how you can make them a little bit more efficient and a little bit more effective. Whether this be through communication outreach or even getting them to understand the value of a higher tier membership.
OK OK maybe you think that this is selling or a nickel and diming. It’s not. Here’s why. Nickel and diming would be saying, “hey you can have all this but you need this plus this plus this plus this plus this.” What I am saying is a certain value given is at this level of membership but if you want the full value that we can offer it at this level of membership. Value is the key between nickel and diming and well, not.
Let’s go back to analyzing and looking at a holistic approach for your organizational data. Here is a few step process that you can take in order to begin this journey.
- Start by collecting the data from every sort of interaction that you possibly have with your customers.
- Accumulate and aggregate that data over six months period. Yes, I do mean six months not a year because you can tell a lot from six months. Back in the day I would’ve said a year but technology and information and data change so often in this digital era that in six months you can tell a lot about your customer journey.
- Put together the journey and see if that’s the correct journey and flow that they should be following. Then dig into the actual interactions and process and figure out how you can make it better for them.
That’s the tip of the iceberg. This will get you started but you do need to dig deeper to truly understand your customer journey and any potential pitfalls they are coming up against with your organization.
Event Specific Analytics
Oh, I could talk for hours on this topic. I will attempt to be concise so this is helpful and not…boring. Data has been the hot topic for years and as I have been preaching we, as the event industry, need to look at it a bit differently.
Behavioral analytics tells the story of our events Those behaviors determine whether it was a success or failure. Now, in some eyes it may still seem to be a success but the data tells the true story.
Look at your event in a holistic way. Take that and put various segments together. For example, exhibitors, attendees, speakers, etc. You can break it down even further and get more granular if you like, but for now, let’s stick with the core of what makes up our events.
Dig DEEP. Figure out what your event is made of. Do not ASSUME. I assumed I understood the categories of what my event was made of but when I did my analysis, I was wrong. You see, exhibitors select multiple categories of which they represent. That data tells a story over time. Is your event trending toward a new era? Is your event becoming something different? All of this feeds into your entire sales and marketing plan, not only for exhibitors but for attendees and speakers too.
Once you have figured out what your event is truly made of, you can then determine the path toward growth for the future of your event.
This piece of the puzzle it critical but really it is the last piece of the puzzle. Dare say you! Your exhibitors are the tell tale sign of the changing times for your organization. They are, and will always be, ahead of you. It’s up to you to follow closely and align with their goals and target audience in order to stay relvant.
With that, this is where you can delve into the behavior of your attendees based on categories and loyalists to see who is truly engaged at your event. It’s no simple task to accomplish this but it is a must to complete the puzzle.
Now that you have taken the first steps into analyzing your event, it’s time to take a step back to determine the new circles you need to be a part of.
Need help with this analysis? We offer our proprietary report events analytics report called PowerFuze which can deliver all of this in a quarterly fashion to help you keep up with the trends of your event.