Event Planning Blog

In a recent report from Forrester, event marketing’s effectiveness is expected to increase 44% by 2020. For this reason companies have been investing more of their money and time into event planning, with hopes to have a high ROI.

Event planning has been largely planned on opinions of previous events and working off of those ideas to ultimately guess what the consumers would like to see next. Companies are at a point where instead of basing future events off of what they felt was successful in their past events, they want data to support their future decisions. Most companies are at a point of investing too much money into events that are based off of opinions.

The flaw to most companies’ method to pbtaining data was that they were soley looking at sales. Flaws were reported in this method due to the timespan of new customers first purchasing the product. Researchers never really knew when to analyze sales because of the wide timespan of new customers. With advancements to technology, it is easier than ever to obtain data outside of sales that can be utilized towards future events.

There are four key areas that can leverage data from an event: establishing your goals, developing an event strategy, on-site experience, and pre/post event planning. For a company to establish its goals, they must look back to previous events’ results and create challenging but reachable goals to encourage their event team and keep them on task. The second key area, developing an event strategy, is the most data driven of the four strategies. Without strong data the company is running a heavy risk of the planning team and the customers being on different pages. The four types of data that would be beneficial to look at are CPL targets, event data, site planning metrics, and customer experience funnel.  The third area to collect data is from the on-site experience. This is the most useful of the four strategies because it is the direct contact between the brand and the customer. This data includes information experience engagement, customer dwell time, the amount of attendees, and the ratio of leads to the amount of conversations had. The fourth and final pre/post planning. This step leans more towards the post-planning, emphasizing the importance of wisely using the leads obtained and keeping a close watch on the company’s drive to their website. With more data obtainable, there is more opportunity for a business to develop event marketing plans closer tailored to the customer more than ever before.

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