For some time now we have been hearing about “data-driven marketing” as the new imperative for acting online.
Data is of fundamental importance in an increasingly competitive world, where changes happen every second and no longer once per day, if that. But it’s not only that: every day entrepreneurs who want to be effective while minimizing risks need to have at hand reliable data upon which to base their decisions and to measure results.
Having said all this, however, anyone who has been online for a while knows that the most solid approach to any business is based on updated, reliable and analysable data. Therefore, it will certainly not surprise you that marketing has repurposed itself for the umpteenth time in a form that is only apparently new.
The fact that solid marketing is based on data, not hunches, is not exactly news, is it?
What is new, if anything, is the fact that these data are increasingly available, reliable, granular and capable of providing precise, timely information and of tracing scenarios within which strategies, tactics and actions can be built.
If everything digital is measurable, the issue with data in the world of corporate and business events for a long time has been mainly linked to three factors:
- the cost (not only money) of retrieving data and making them available for analysis and processing;
- the time needed to produce and make data available in a structured, consolidated and readable – but also quick – form;
- the skills that are necessary to collect, analyze and interpret data and to transform them from cold numbers into fundamental information to make informed decisions.
All of this has not only made the art of making data-based decisions almost esoteric for a long time, but it has held back many decisions and undertakings.
In SharEvent – partly because we are born with a strong passion for digital, and partly because we prefer to use our head rather than our gut to make decisions – we immediately thought that technology applied to business and corporate events could not make them just smarter, but could give event managers a set of tools to work better in building their truly memorable event for everyone.
At the same time, by ensuring a simpler, faster and clearer measurability of a whole series of data, we immediately supported the decision-making process of any event management, and made it possible to operate changes in real time (i.e. as soon as something proved it was not working as it should) instead of having to wait for the next edition of the same event.
Right from the start, one thing was clear to us: if we were unable to make available, readable and usable all the data we were producing, nothing would have made sense.
As technology entered more and more massively into every cog in the organization of business events, the capacity of systems to produce data has grown more than proportionally and the peak has been reached – not surprisingly – when most of the of corporate events switched to “full online” mode.
By becoming totally virtual, in fact, these events have increased the amount of technology used. At the same time, they had two absolutely “disruptive” parallel effects.
- By placing a physical distance, screens and devices between the organizers and speakers, exhibitors and participants, online events have weakened – or canceled – the ability of event managers to read the physical data related to the event. We don’t have to tell you, but you know that ability that corporate event organizers develop as an instinct with experience and that allows them to know, at a glance, if a session is working or not, if an audience is tired or excited, or whether an exhibition area is producing the expected results or not? Well, how is all this measured when there is no co-presence?
- Online events have begun to allow the measurement of all the interactions a user has while enjoying an event (read: “they measure practically everything they do”) because all significant interactions are mediated by technology. And the technology is measurable. This is how, if everything is designed with a clear purpose, it suddenly becomes possible to know at any moment what each person is doing and to have proof of it. How effective is a session? How often is a booth visited? Does video work better than a live session? Should multiple-choice quizzes or games be used to assess learning? You do see the possibilities that all this offers in terms of accountability, ROI and capitalization of the experience, right?
At the intersection of these two faults, a new continent has emerged and we are exploring it together. It’s a territory that requires all those great adjustments that we are all continuously making, but it also appears to be quite rich in new possibilities and concrete promises. It has already shown to be able to provide valuable alternatives and additions to the market of corporate in-presence events – when and if we’ll go back to them – and to enrich the portfolio of tools that event managers will be able to use in order to make the best decisions, to operate the most strategic choices and to have solid proof of accountability in the eyes of all relevant stakeholders of either on-site, hybrid, or completely online events.
Because carefully designed tools can produce exactly the data which are needed, at the right time and in the best, usable form. Not one more, not one less.
Want to start seeing what we mean when we talk about data for your event? Contact us and schedule your free demo now.