How Big Data is Changing the Event Management Industry
Emerging technology trends like big data have enabled marketers to explore further and realize the impact of digital marketing.
Indeed this is the time for industries like event management to scale up the heights of success. It’s time to take advantage of advancements like big data analytics.
Research shows that most organizations that still find it challenging to embrace new event management technologies are facing a major hit.
These organizations spend over 25% on their events’ marketing budget, yet most still fail to realize the impact of their investment. That’s how critical it is to embrace these high-tech industrial upgrades.
This article will look further at the positive impact of big data on the event management industry.
But, first, let’s find out what big data is.
What Does Big Data Entail?
Big data entails collecting all the relevant information from a wide array of sources. The more data you have, the more impact you can have upon your targeted audience.
As it now is with most industries, big data plays a significant role in the event planning and management field.
It enables event marketers to gather the information that reveals to them more about their targeted audiences. As a result, they can reach them better and plan events that satisfy targeted individuals.
Essentially, big data is the core part of event planning and management. As people value personal devices more, it’s becoming easier to collect and control data to influence event experiences.
Statistics reveal that 91% of event planners credit the use of mobile event apps to their businesses’ Return On Investment (ROI).
Let’s take a look at the association management software. This is an all-in-one management tool that contributes significantly to the success of event management companies.
The most experienced event planners are now taking advantage of the remarkable online event management tools. They use it to create meaningful data for highly personalized events. Such powerful tools offer you an all-in-one solution. You get to manage your website, membership data, events, e-mail communication, and more from one app.
They are remarkable for usage like event registration, ticketing, attendee management, event marketing, and beyond. If you’re looking into increasing attendee participation, the online tool can be a lifesaver saver.
If you also prioritize the ticketing system to save money, the event management tools work out things excellently for you.
The association membership management software allows you to easily connect with your members. You can do so through your tablet or mobile devices.
Most importantly, if you have any concerns about the software, you’re guaranteed timely, excellent, and unlimited staff support.
What’s the Impact of Big Data on the Event Management Industry?
1. Offers Readily Available Marketing Data to Boost the Success of Events
Presently, event marketers benefit from the fact that information is more available now than ever.
Take the example of location data. With the use of devices like tablets and smartphones, data can be extracted to learn more about attendees. Event marketers can find out how potential event attendees behave in the real world through this data.
This is why event marketers can now offer more customized advertising to satisfy their targeted audience. It helps to know that you must always advertise to the right audience to attract more attendees to your event.
Otherwise, you risk experiencing a reduction in audience engagement and event attendance. Thankfully, big data analytics can help you find out real-time information like:
- When your target audience is actively using social media platforms
- How to connect with the best audience groups
- How you should formulate your advertising message to grasp their attention.
2. Offers Deeper Understanding of the Audience’s Behaviors and Patterns Hence Increasing Participation
Big data allows event marketers to obtain unstructured data about important things like:
- Event attendees
- Keynote speakers
- Event partners.
The unstructured data is collected and analyzed. It allows marketers to gain insights into significant aspects like the audience’s attitude and their levels of engagement.
As a result, marketers are equipped with powerful capabilities to attain a data-empowered view of the event’s performance. So, what does this imply?
It implies that marketers can use real-time data to enhance the event experience for both the attendees and the supporters.
Your main goal here is the ultimate satisfaction of attendees. That’s why it’s essential to know your audience by studying their patterns and behaviors.
How the attendees perceive the event will establish whether it will turn out a success or not. So, how do you achieve attendees’ satisfaction?
First, you need to offer them a personalized experience, and personalization entails knowing who the attendees are.
Big data helps you collect data and analyze the event’s email list to discover more about who the potential participants are.
To have a better perception of the audience, ensure you analyze and segment their demographic factors like:
- Education status
Google and social media searches can also help you learn more about your target audience. An example is where you can check through Facebook groups for old events done to determine who the attendees were, plus their comments.
In your searches, you can benefit from finding out:
- The kind of speakers your anticipated guests may want to see.
- The topics your attendees want to hear
- The tools and demonstrations they want to experience during the event.
With the correct data, you manage to have answers to those relevant questions way before your event.
You can go the extra mile and learn about your anticipated guests. You can formulate experiences that meet their needs, solve their problems and entertain them.
3. Allows the Successful Planning of Future Events
When it comes to big data, unstructured information benefits companies for both current and upcoming events. Why?
Big data analytics allows marketers to gather unique user data from different sources. They can then combine the data into meaningful databases. This forms one big data, whose insights can be used to plan events far into the future.
For example, you can utilize data recorded from past events to find out what the attendees prefer most.
You can analyze the answers they gave in their reviews after the event. This way, you gain deeper insights into the thoughts of participants.
You can also choose to use your data from similar events done in the past. Yet again, you can use data from the company planning to host the upcoming event.
On a different note, big data is a game-changer for conducting a competitive analysis to improve your future events.
Event marketers can dig deeper into the company’s competitors that plan to host the upcoming events. By doing this, they can find out the type of events they organized and how they went about hosting the entire event.
The online search about competitor companies can reveal meaningful information that will boost your upcoming events.
When doing a competitor analysis, ensure you establish the events that proved to be most impactful. Afterward, you should analyze the particular features of such an event.
For example, you can use successful past events to learn more about the target audience’s preferences.
In short, you can collect data about:
- The type of events
- Number of attendees
- Comparison of the successful and less successful events
You can also gather data about international competitors. Use their events’ data to obtain fresh ideas that can take your future events’ planning to top-notch levels. Ensure you analyze every piece of data, and make relevant comparisons until you get a database of helpful information.
Google Trends is also a remarkable tool to find out what your potential attendees search for. When you compare search terms with historical data, you can predict what will be trending in the future.
You can also tell when you should host an event around whatever will trend at that particular time.
Big data is now a game-changer in the event management industry. It helps event marketers to find out on time what can attract their prospective attendees.
They can then use the information to improve their event planning. Having access to a wide range of relevant information helps you customize your event adverts to attract more attendees.
It also helps in delivering personalized event experiences that satisfy your guests. Most importantly, you can conduct online searches about competitor companies and gain real-time information.
This way, you can gain deeper insights to apply to your future events to guarantee more success.