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Straight Talk on Data-Driven Event Planning from Industry Experts

IAEE Webinar Preview for January 15
Industry experts reveal how to leverage event data to demonstrate ROI to sponsors and exhibitors, while sharing practical strategies for measuring and optimizing event outcomes. Discover how data can revolutionize your approach to event planning!

By Mary Tucker | Senior Communications and Content Manager | IAEE

Exhibitions and events are undergoing a revolutionary transformation driven by technological advancements. IAEE will dive into the direction data-driven event management is taking in its 15 January webinar, From Feelings to Facts: The Evolution of Event Data, presented by Annaji Sailer, CRFP, CEM, Senior Director of Exhibits and Strategic Partnerships for the Restaurant Facility Management Association and Panos Moutafis, Ph.D., CEO and Co-Founder of Zenus, Inc.

Annaji and Panos will explore the fundamental shift from intuition-based decision-making to a more analytical approach in event planning. They will delve into the critical role of data in demonstrating event ROI to stakeholders – particularly sponsors and exhibitors – and share practical strategies for leveraging metrics to optimize event outcomes.

This webinar will also showcase how forward-thinking event professionals are using data not just to measure success, but to paint a comprehensive picture of team performance and its alignment with broader organizational objectives.

Here, Annaji and Panos preview the topics they will delve into in the webinar and what it means for the future of data-driven event management.

You will explain the importance of transitioning from subjective feelings to data-driven decision-making in the context of event planning. Could you share a pivotal moment when you realized the importance of transitioning from gut feelings to data-driven decisions in your event planning journey?

Annaji: Industry professionals often think that a lot of traffic and long lines indicate success. However, when using data to measure dwell time and positive sentiment for a new activation, it became clear that long lines (in this instance) created frustration and maybe pointed to a bottleneck. This moment was when data helped shed light on the importance of making data-driven decisions.

What are some common challenges event planners face when moving from intuition-based to data-driven planning, and how can they overcome these barriers?

Panos: Selecting the right tools to collect the appropriate data can be overwhelming. There are several options and multiple providers. Continued education through webinars and industry conferences is key to staying current. In addition, networking with other industry professionals and exchanging notes is very powerful.

Once event planners have selected their preferred tools, the next challenge is interpreting the data obtained. Working with the right partner and adopting an A/B test mentality helps reach meaningful conclusions. Establishing benchmarks and combining them with event knowledge will make the data actionable. Overall, event planners need to combine feedback with the data received and their intuition. This is a balancing act, and there is no perfect recipe.

Can you share an example where data contradicted traditional event planning assumptions and led to better outcomes?

Panos: Traditional event planning often assumes that the areas near the entrance receive the most traffic. However, aisle traffic does not always translate into more visits for the exhibitors. Instead, attendees often want to walk further inside and avoid the congestion.

Increasing the size of the aisleway and offering a few extra feet of space between the entrance and the first few booths can address the issue. Removing the points of congestion can be effective in helping exhibitors convert aisle traffic into actual booth visits and capture leads.

You will also discuss how to demonstrate event ROI to support renewals and new sales to sponsors and exhibitors. What specific metrics have proven most effective in demonstrating ROI to sponsors and exhibitors?

Annaji: Everyone wants to make meaningful connections by meeting with their clients in person. The number of leads captured remains an important metric. However, the quality of these engagements and the attendee experience are becoming increasingly important for sponsors and exhibitors.

Information about traffic on the expo floor and dwell time at key points of interest are important metrics. Understanding the effectiveness of sponsored activations in making people stop and engage is another important KPI gaining traction. Depending on the event, demographic information may also be relevant. There is no single metric that provides the whole picture.

How do you recommend structuring data presentations to make a compelling case for renewals and new sales?

Panos: Converting data into stories is often the most effective communication method. The insights can then be integrated throughout the sales and marketing efforts. This includes educating the sales team about the different findings and the best ways to communicate them to their accounts to help them meet their objectives.

The data and insights may be incorporated in reports distributed to existing sponsors and exhibitors after the show. In addition, they can be integrated into marketing material that validates the show’s value to attract new accounts. Examples of relevant data sources include demographic information as validated by the registration system, along with traffic reports on the exhibition floor.

Could you share a success story where data-driven ROI presentations directly led to increased sponsor engagement or new business?

Panos: A leading show wanted to monetize an area of the exhibition floor previously left unused. They worked with two sponsors to test the concept and used metrics such as traffic, stop rate, dwell time, and positive sentiment to evaluate the results. The data pointed to a big success, and two years later, the same show has grown the area into a hotspot for sponsored activations, generating revenue well into the six digits. A significant factor in proving the concept has been the data reporting. It is an objective way to convince skeptical sponsors and convert them into repeat customers.

You will offer practical strategies for leveraging data to measure, analyze and optimize event outcomes. What are your recommended first steps for event planners beginning to implement data collection and analysis?

Annaji: One has to understand all the different options, which means becoming more informed. Attending webinars and sessions at industry events is a good way to achieve this. In addition, networking with other industry professionals and learning from their experience can help with better planning and implementation. This includes budgeting and strategies for using the data successfully to either increase revenue and/or improve the attendee experience. Event organizers have to be prepared that they might have to test a few different services until they find the one that works for them.

How do you balance the depth of data collection with the practical limitations of time and resources?

Annaji: You have to get internal buy-in about prioritizing a data-driven strategy. Once this is done, you can establish the objectives as a team and create a plan. The next step is finding the right partner to refine the plan and implement the solution. The important thing to remember is that a shift to a data-driven approach can be implemented gradually. Otherwise, it can be overwhelming for everyone.

Could you walk us through your process for identifying, measuring, and optimizing key event performance indicators?

Panos: One approach is to start from the end goal – what are you trying to optimize? You can then work backward from there and determine the most relevant KPIs, starting simply and slowly adding complexity as you gain more experience. For example, one goal might be to maximize the renewal rate for sponsors. This metric indicates the level of satisfaction with the show and can predict future performance.

However, fluctuations might be hard to predict and understand without additional data points and a proactive approach. Additional metrics, such as registration numbers and traffic on the show floor, might provide an extra layer that helps evaluate performance. Dwell time and reactions to specific activations would offer even deeper insights into the effectiveness of the sponsorship.

The information helps gain a holistic understanding of why certain sponsors renew or might be at risk of churning. By using KPIs and evaluating performance at multiple levels of the sales funnel, one can identify and fix issues before they become a problem.

Finally, you will share how data can provide a clear picture of team performance and contribute to overarching organizational goals. How do you align event data metrics with broader organizational objectives?

Annaji: Broader organizational objectives are often more challenging to meet because they involve multiple people (or departments) and potentially competing priorities. Establishing event data metrics and KPIs that match the desired organizational goals can create alignment and accountability. For example, if the goal is to increase registrations or attendee experience, this is going to impact everything – from marketing to operations and finances. Tracking the relevant event data metrics across the board creates unity and a shared vision.

What approaches have you found successful in using data to evaluate and improve team performance while maintaining positive team dynamics?

Annaji: Starting from a place of curiosity and exploration makes a big difference in maintaining a positive team dynamic. It shifts the conversation from placing blame (negative) to a joint effort of discovery (positive). This approach helps identity the potential reasons (root causes) and address them in the most effective ways. In other words, data removes the emotion and ambiguity out of potentially difficult and complex conversations, helping everyone focus on solutions and improvement.

As with every relationship, it is important to keep sight of the bright side. Acknowledging the positive results and what works well is the foundation upon which one can point out where there is space for improvement without demoralizing a team.

Could you share examples of how data insights have helped bridge the gap between event execution and organizational strategy?

Panos: A common organizational goal has been increasing prices in a manner that offers more value to participants (sponsors and exhibitors) while addressing inflationary pressures. A similar trend is to increase the amount of revenue generated through sponsorships (e.g., new programs) when certain events do not have more space to sell to exhibitors.

Both of these organizational strategies can be executed by leveraging data insights. Proving tailored suggestions to exhibitors and sponsors on how to achieve success at the show will increase the value they receive and justify the price increases. Identifying opportunities for new packages (e.g., new activation areas and sponsored content) is also going to help events increase their revenue in a constructive manner.

Click here to register for From Feelings to Facts: The Evolution of Event Data and learn more about upcoming topics for IAEE’s Webinar Wednesdays here.

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