Using Data to Drive Event Evolution

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Using Data to Drive Event Evolution

July 30, 2015

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SESSION OUTCOMES1. Understand your data and how to use data to

improve your evento How geographic venue selection can be enhanced

using data

o How data can help a growing event identify its true growth drivers

2. Pull out event trends from your data to make better strategic sales and marketing decisions

3. Tips on how you can get started today!

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Jeremy Figoten, CAESVP, Meetings, Business Development & CommunicationsNational Apartment Association@JeremyMFigoten

Joseph ColangeloCEO and Co-FounderBear Analytics, Inc.@JoeColangelo

Robbi LycettEvent StrategistTradeshow Logic@RobbiLycett

Moderated by:

5Bear Analytics: Confidential Materials Source: PCMA Meetings Market Survey 2015

Forecasting registration revenues to drive destination selection

Mini Case #1:

The Challenge:

To identify which US cities presented the best opportunity

for a positive attendee experience and financial gain

for the organization.

Mini Case #1: Approach and Methodology

8Bear Analytics: Confidential Materials

Step 1: Categorize Each City Based on Strength of the Industry

Step 2: Identify and Test Predictors of Event Performance

Step 3: Evaluate Attendee Revenue Based on Historical Performance

Step 4: Data Empowered Decision-Making: Picking a Location

o What locations were viable sites for the 2016 BIO Convention?

o How many attendees were expected in 2016?

o How much revenue would this generate?

o How does this compare city to city?

Step 1: Biotech Industry Strength by City

9Bear Analytics: Confidential Materials **Graphics provided by Battelle 2014 biotechnology industry report

We were able to establish city specific metrics on company concentration, employment, and recent growth.

Step 2: Identify and Test Predictors of Event Performance


Industry investment was closely tied to event

attendance the NEXT year

What data could help explain event performance?o Stock market performance?o Industry specific indices?o Top 50 public company

performance?o Venture capital financing?

$-

$500

$1,000

$1,500

$2,000

$2,500

2008 2009 2010 2011 2012 2013(Projected)

Avg. Early Price Avg. Late Price

Step 3: Evaluate Attendee Revenue Based on Historical Performance


Reda

cted

Consistent average revenue allowed for straightforward forecast for future revenue per attendee

Weighted average revenue for Premium Conference Access

Step 4: Data Empowered Decision-Making Picking a Location


Result – San Francisco represented the best possible location for event attendance, revenue, and overall industry success!

Quotient for biotech industry strength of

each city

Forecasted range of attendees for 2016

Revenue generated per attendee

Revenue forecast for each prospective city

Venue costs and expenses

If my growing event could talk…

Mini Case #2:

The Challenge:

The NAA Education Conference & Exposition has grown consistently

from 2009 – present. We needed to understand the

drivers of that growth.

NAA Education Conference & Exposition has Seen Sustained Growth from 2009-2015


4,700 4,9005,600

6,1006,600

8,000

9,200

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

2009 2010 2011 2012 2013 2014 2015

Reve

nue

in M

illio

ns

Num

ber o

f Ind

ivid

ual A

ttend

ees

Quantify Growth Drivers

Focus on NAA Growth

Centers

View in Real-Time via

Customized Dashboards


Approach and Methodology

LoyaltyRetentionFirst-TimersRevenue Concentration

Individual Attendees

Companies

13,783

2,909 1,224 668 350 209

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

1 2 3 4 5 6Years Loyal

NAA Education Conference & Exposition Attendee Loyalty (2009-2014)


25%

72%

3%

NAA Education Conference & Exposition Company Retention


31% 30% 31% 29% 28%

34% 35% 36% 35% 37%

34% 30% 26% 27% 28%

6% 7% 9% 7%

0%

20%

40%

60%

80%

100%

2009-2010 2010-2011 2011-2012 2012-2013 2013-2014Abandoned Retained Returned New

NAA Education Conference & Exposition Revenue Mix Shift (2009 – 2015)


2009 Revenue Mix 2014 Revenue Mix

Attendees Group Attendees Exhibitors

54.4%31.3%

14.3%

47.3%38.1%

14.4%

Real-Time Pre-Event Dashboards


Weekly reporting on:

o Attendee growth

o Revenue growth

o Historical comparisons

o Geographic and regional growth

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Mini Case 2: Results and Impact

o Validated NAA event strategy to grow attendance while maintaining existing revenue levels

o Specifically identified companies/organizations who are not participating at previous levels

o Answered the questions that my event survey couldn’t

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Other research opportunities:ü Focus Groupsü Phone Interviewsü Post-Event Surveysü Specialty Market

Research Firms

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What are some of the data projects that you have found to

be the most rewarding?

How Do I Get Started?

QUESTIONS?


BEAR FACT #23:Bears are very smart and have

been known to roll rocks into bear traps to set off the trap and eat

the bait in safety.

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Tips and Tricks

Using Data to Drive Event Evolution

Data & Analytics

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