Do you struggle with your event data? Turns out, you’re not alone. We partnered with BizBash to conduct a survey of event professionals to learn how they collect, use and analyze data from their events. We were pretty amazed by the results!Only 9% of event professionals reported being able to measure event ROI ‘very effectively.’ In a time when big data is readily available, most event professionals are still working with incomplete data and insufficient resources for analysis. You might be wondering, “What’s the big deal?” When event professionals are unable to effectively demonstrate event ROI to executives, directors and other key stakeholders, the whole program budget can easily end up on the chopping block. So if you’re only reporting on ‘amount in sales pipeline’ for ROI, you’re missing out. Getting granular and analyzing metrics like cost per customer, cost per opportunity and new revenue sourced, is the key to creating a compelling story about return on investment.
For attendee metrics, do you only report on ‘overall attendance’ and ‘attendee satisfaction’? While the survey found that those are the two most popular attendee metrics to report on, they do not provide insight that can be used to inform future event programming. Only when event professionals hone in on how attendees respond to event content are they able to derive actionable information. To do this, the survey found that event professionals need holistic event tech that can act as a single source of truth. The technology is key, although not the only factor, in effective event data management and reporting.
To learn more about how you can improve your event data management and discover how you measure up to industry professionals, download the Data Management Survey Result Whitepaper.