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How Customer Intelligence Will Future Proof Your Event Portfolio

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How Customer Intelligence Will Future Proof Your Event Portfolio

As the second half of 2020 and first quarter of 2021 comes into view, one thing has become very clear to the general event marketplace, things are going to be very different. Playing a vital role in growing participation at our face to face, virtual, and hybrid events is going to be a deep knowledge of our customers.

What is customer intelligence and why is it more important than ever for the future success of your event? This webinar will peel back the importance of customer intelligence and the analytical foundation for it that you can start building in your event portfolio today. We will walk through the required data you need to be collecting across virtual and face-to-face events, as well as, the metrics to have in place over the coming months to personalize relevant content and experiences in front of your customer.

As the second half of 2020 and first quarter of 2021 comes into view, one thing has become very clear to the general event marketplace, things are going to be very different. Playing a vital role in growing participation at our face to face, virtual, and hybrid events is going to be a deep knowledge of our customers.

What is customer intelligence and why is it more important than ever for the future success of your event? This webinar will peel back the importance of customer intelligence and the analytical foundation for it that you can start building in your event portfolio today. We will walk through the required data you need to be collecting across virtual and face-to-face events, as well as, the metrics to have in place over the coming months to personalize relevant content and experiences in front of your customer.

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How Customer Intelligence Will Future Proof Your Event Portfolio

  1. 1. How Customer Intelligence Will Future Proof Your Event Portfolio Joe Colangelo CEO & Co-Founder Founder Bear Analytics @joecolangelo Bear Analytics | www.BearAnalytics.com | hello@bearanalytics.com
  2. 2. A SPECIAL THANK YOU TO OUR SPONSORS
  3. 3. “Disrupted” is still the tone from the marketplace TODAY: 1. Physical is still up the in air 2. Hybrid is likely the future….maybe 3. “Our exhibition and sponsorship revenues are in jeopardy going forward” 4. “We do not have a 2021 plan – trying to get through 2020” 5. Uncertain on attendee pricing and platform decisions
  4. 4. Your Audiences CRAVE: NETWORKING LEARNING ENGAGING DISCOVERY Speaking with peers Finding new partners, clients Casual learning from peers Playing with new products Understanding best practices Connecting with familiar faces Hearing from industry leaders Digging into topical research Consume timely content Identifying new innovations Industry change agents What is working/not working
  5. 5. Disruption has FORECED a Pivot. And Pivoting is HARD. SOURCE: Event Manager Blog Bear Analytics | www.BearAnalytics.com | hello@bearanalytics.com
  6. 6. POLL: Who is currently considering or has executed a virtual event? 1. Considering/Executed 2. Not Considering It 3. Not Sure
  7. 7. Bear Analytics | www.BearAnalytics.com | hello@bearanalytics.com Disruption Breeds OPPORTUNITY. https://www.carecloud.com/covid-19-practice-pulse/ Infrequent Utilization More Frequent Utilization Pre-Covid 88% 12% Post Covid (projected) 37% 63% Disruption in telemedicine is accelerating this industry 10 years in 10 months…
  8. 8. What Is Customer Intelligence?
  9. 9. Q: What Is Customer Intelligence? A: Understand your customer’s needs, wants, desires. Attendees Exhibitors Sponsors Speakers Members
  10. 10. Customer Intelligence Starts with the Data: The Opportunity is to Know Who Customer Is & What They Want/Do Demographics Firmographics Psychographics Behavioral Data Transactional Data WHO is participating as individuals and organizations? WHAT is their engagement within your event? WHY are they participating and WHAT do they hope to achieve? WHEN, WHERE and HOW did they engage? Personal ID Information WHO someone is. Email, Name, Address, etc.
  11. 11. Your Virtual Event is PACKED with DATA! Imagine All This Event Tech COMBINED:  Registration  Beacon tracking  Education scans  Exhibition scans  1x1 meetings app  Guided app experience  What else? o Sessions o Exhibition Hall o 1x1 Meeting Area o Product Showcase Cohesively integrated event experiences across as little as ONE tech platform.
  12. 12. Start Thinking of Data as a CURRENCY. https://www.eventmanagerblog.com/virtual-event-pricing Pricing a virtual offering is extremely challenging… Virtual Price Point Data Collected
  13. 13. Putting Data Collection Into Practice Demographic | Firmographic Data: Understand audience qualities at the individual and organizational level. Examples include: o Age| Education level | Years in the industry o Industry focus areas or areas of expertise o Total employees | Annual revenue – bands of o Organizational industry area or sector Demographic s Firmographic s Psychographic s Behavioral Data Transactional Data
  14. 14. Putting Data Collection Into Practice Psychographic Data: Understand the expectations behind your audience’s participation. Examples include: o What are your goals for attending? [multi select list o What do you hope to get out of this event priority] o Which aspects of this event are you most excited by priority] Demographic s Firmographic s Psychographic s Behavioral Data Transactional Data
  15. 15. Putting Data Collection Into Practice Behavioral Data: Where did attendees spend their time and energy? Metric examples include: o What is the breakdown between programmatic, participation? o What sessions and tracks saw most engagement or o Who are my top 10, 25, 50 exhibitors by lead o What did engagement look like across hours, days, Demographic s Firmographic s Psychographic s Behavioral Data Transactional Data
  16. 16. Putting Data Collection Into Practice Transactional Data: What data can I use later on for marketing and segmenting? List exports examples include: o Can I export each exhibitor’s lead data with o Am I able to see an individual’s participation by o Can I see the 1x1 meetings and requests that took blinded for PII but contains Demographic s Firmographic s Psychographic s Behavioral Data Transactional Data
  17. 17. POLL: What is Your Organization’s Level of Access to Your EVENT Data? 1. We got It 2. We can get if we want 3. It’s a struggle 4. No idea
  18. 18. How Does Customer Data Future Proof Your Event? What are the Opportunity Centers?
  19. 19. Organizations That KNOW Their Customers Better…. The Common Thread: • Build better • Differentiate more efficiently • Market and segment better - • THRIVE when others are in https://www.rootinfosol.com/how-coca-cola-uses-artificial-intelligence-to- maintain-its-supremacy Coca Cola using AI to drive products that match users' behaviors and tastes. https://www.ttec.com/articles/cirque-du-soleil-balances-art-and-science- creativity Cirque du Soleil uses business intelligence to drive performance consistency and customer satisfaction
  20. 20. Virtual Events Are Your Best Access to NEW MARKETS
  21. 21. 52 mins the average session attendee stayed for 85%+ of the session’s duration 2.0 The average participant took in 2 out of the 11 sessions Show Sponsors the Impact from their Program Investments 70% 70% of all registered individuals signed into the virtual platform – on par with onsite verification Track 1 Track 2 Track 3 Track 4 Track 5 Track 6 Track 7 Track 8 Track 9 Track 10 10 Track 11 11 Track 1 Track 2 Track 3 Track 4 Track 5 Track 6 Track 7 Track 8 Track 9 Track 10 Track 11
  22. 22. More Thought Leadership Exposure = Increased Sponsorship Potential
  23. 23. Personalize Messaging for Your NEXT Event Personalizing communications sets the expectation of participation and a tailored future attendee experience. https://emailtech.co/email-templates/ Hi Stacy, We’re excited to host you this year at our 2020 ACME Event. As a loyal historical attendee, we look to you to continue to drive the energy and enthusiasm our industry has. Check out some of our key innovative sessions this year, highlight new topics such as 3D printing, and cold fusion. Cold Fusion101 – Let’s Power the World 3D Printing for the Non-Coffee Drinker
  24. 24. How To Get Started: Virtual Event Data Do’s and Don’ts You are limiting your event’s upside if you’re not collecting the RIGHT data.
  25. 25. Virtual Event Data Do’s 1. Do collect as much reasonable data at registration • Personal identifiable (name, email, address, mobile, etc.) • Ask demographic, psychographic, firmographic questions • Ensure your platform can export meaningful transactional data (reg • Understand the engagement metrics you can expect to see (duration in shares, etc.) 2. Do ask for a sample export of reporting during your virtual demos • You want to see as much of the raw data as possible. The more you can • .csv and Excel export are the bare minimum
  26. 26. Virtual Event Data Do’s 3. Do think about what your audience engagement looks like • Ask yourself what metrics you’d like to know after the event happens? Marry your measure. • What are the personas of people you want to engage with your virtual event? • Who is NOT in your F2F audience that may make sense for a virtual event – students, YPs, ancillary industry players, international markets, other industry verticals? 4. Do have a plan for reaching out to 2020 virtual first-timers for 2021 or your next event • What is your forward-looking path for engagement? • What is the long tail on your content or engagement?
  27. 27. Virtual Event Data Don’ts 1. Don’t limit data at registration because you’re worried about abandonment • Registration doesn’t have to be painful to be effective. • Collect the data to understand you audience – especially if your price DATA IS THE CURRENCY! 2. Don’t keep your existing registration categories from F2F • Keep it simple for your audience to differentiate the options. • Make sure it’s clear what each level gains access to – pair it with professional society.
  28. 28. Virtual Event Data Don’ts 3. Don’t keep all your content hidden • Virtual offers the opportunity to tease and test the market – push out some content feedback! • Use testimonials from these speakers to tease what your audience can expect within 4. Don’t assume your loyal base will adopt virtual • Loyalty cohorts are predominantly made up of senior level individuals, with longer ever. • Cultivate their experience for them – provide them with a dedicated concierge most out of virtual. • This is particularly important to buyer/seller trade show virtual events.
  29. 29. What Happens Next Year?
  30. 30. POLL: What does your 2021 major event revenue forecast look like? 1. Higher than 2020 2. Even with 2020 3. Lower with 2020 4. No Forecast
  31. 31. How to Protect Future Events (F2f | Virtual | Hybrid) • Collect the right customer data - individuals and organizations • Acquire all post-event data from all event tech platforms • Craft the story of engagement to your audiences (attendees, exhibitors, sponsors, speakers) • Use aggregate event data to power exhibition & sponsorship value propositions next year
  32. 32. Conclusions
  33. 33. Conclusions o We’re in a period of massive disruption o Audiences are craving the RIGHT kind of engagement o Disruption = Opportunity o Those who know their customers best are positioned to WIN o Virtual allows event organizers to know more than ever o That intelligence will power future event: strategy | experience | engagement | revenues
  34. 34. Questions? Joe Colangelo CEO & Co-Founder Founder Bear Analytics @joecolangelo Email: joe@bearanalytics.com Website: www.BearAnalytics.com Phone: 703-782-5111
  35. 35. A SPECIAL THANK YOU TO OUR SPONSORS

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