Using Event Data to Get a Strategic Seat at the Table

An event data strategy is essential not only for designing more impactful events, but ensuring that you, the event professionals, are recognized by your organizations as strategic partners. The effective use of event data allows event owners to demonstrate their role in achieving wider business goals, improving customer loyalty and navigating an uncertain future.

Why do you need an event data strategy?

Collecting data and knowing how to interpret it effectively enables you to bring more value to your organization. Not just by empowering you with data-driven decisions but by really gaining insight into how your event contributes to wider business goals. This, in turn, allows you to secure a seat at the table as a strategic partner.

While some of our fellow event planners view data as a  professional quagmire, the fact remains that data will be the biggest criterion separating the wheat from the chaff as event and marketing teams continue to combine, as tech becomes increasingly important and data-rich, and as tech-savvy generations ascend to senior positions in organizations. Planners who master the art of using data strategically can play a vital leadership role in their organizations.

However, a common challenge for many event teams is finding the time and resources required to sit with the data and derive insights, or in some cases, to develop the analytical proficiencies in the first place. For those without the capacity, working with a research partner can be a significant benefit.

You gain access to benchmarking and other interpretative tools to create event experiences and events that are strategically effective and have the impact you intend.

How does a data strategy help you bring value to your organization through more strategic decision-making?

The rise of event technology has brought a flood of new data but not a flood of new insight. All too often the data is trapped in silos without a connection to wider organizational strategies. It’s not getting into the hands of people who need it. Opportunities are blocked for creating experiences that really speak to customer preferences.

Conversely, when a robust data strategy is in place, the organization can hold events that provide better experiences for participants and achieve company goals. It can also aid in the prediction of customer behavior, helping planners create even more effective events in the future.

Some event planners think data won't tell them what they don't already know. However, very often, anecdotes have been mistaken for data. Even looking at past metrics, such as attendance, may not be very useful for future events, as they reveal what happened but not what will happen. With the right tools, data can help predict how people will behave in the future. Even events that have always been well-attended can suddenly see an unanticipated drop-off. Perhaps people only attended the event because there were no alternatives, and now they have other choices.

With the right data and tools to interpret it, you get a more realistic picture of what people actually think of the event and what needs to be done to retain their loyalty. Collecting and interpreting data from an event can answer such questions as whether people changed the way they think or feel if they identify more strongly with the brand, if they will recommend the company as an employer, if they learned best practices for their work or if they might change their behavior at the next event. Indicators of behavioral change are powerful metrics for planners, allowing for improvements to be made for more impactful future events.

How can you develop the competence required to take advantage of the data at your disposal?

The first step is recognising that you need a partner—not just a supplier—to help you achieve your goals. While a supplier can sell you a product, a partner goes beyond this by tailoring their services to fit your needs. In order to do so, the partner needs an understanding of your business objectives.

Start with defining your goals, what you hope to achieve, what decisions you're looking to make, and who are the key stakeholders. Then, examine the data you already have, identify the gaps, and work out what format you'd like, if it is raw data that you can manipulate, or if it is a more finished product. And, of course, share your budget and your procurement process. The Tech partner should then explain the process, manage the expected timeline, inform you of the scope of the project based on your budget, and if it needs scaling up or down.

How can this strategic business intelligence give you something to contribute to strategic discussions at your organization?

Armed with a rich array of insightful information, event pros can present top management and other stakeholders with a compelling visual data story on events' influence on achieving organizational goals and creating customer satisfaction. Equally important in this uncertain era, planners can demonstrate how business intelligence can be used to help organizations avoid or at least minimize the harmful impact that unpredictable outside developments could have on future events and customer loyalty.

Want to learn more about how data can help enhance your events?

Check out our online training courses available to level up your skills.