The Right Research Partner Can Play A Transformative Role In Event Planning
Most organisers believe that a good event is one that functions in line with the way it was planned. But, from an ROI point of view, a truly successful event is one that keeps the audience anticipating, and draws them back year after year.
One way to ensure this happens is by working towards the goal that everyone attending benefits. eg. when it comes to the attendees, networking and building connections is one of the main benefits they look forward to. On the other hand, sponsors come to events mainly to create brand awareness and grow their business. So how do you ensure there is a higher ROI for everyone involved?
You need to have the most relevant attendees, speakers, and sponsors on your list. This is achievable only through in-depth and customized market Research, Data, and Insight.
There is no doubt we are moving towards a more data-driven event planning system. There is a clear trend in organizations trying to incorporate a data-driven approach around their event planning efforts. But what is the best way to go about doing this?
Today there is more data available to organizations than ever before, but the challenge is turning it into actionable insight. The sheer volume of data is daunting. Recent studies have revealed that many event planners are facing a challenge in the area of data management and want to invest more time and resources in data analysis.
Many businesses use syndicated research as a starting point to gather basic data, and gain a broad understanding of market trends. But very often this data is not enough to give you a deeper understanding, since your business needs may be very unique or confidential. At such times custom or bespoke research is the best solution.
Thirdly, the contact information in a company’s CRM, may not be very accurate. It turns stale very quickly, creating major obstacles in event planning efforts. Maintaining high-quality contact data is a major challenge to businesses.
These are the key challenges an event organizer has to deal with. This can be solved with an end-to-end research partner. A good research partner provides customized, bespoke research, that is tailored to fit your business needs, and gives you analysis and insight that’s specific to your company.
Primary (direct contact and interaction) and secondary (internet-based) research processes bring together attendee, sponsor, speaker data, and industry trends for a 360 degree understanding of the audience you are targeting.
Regular data refreshment helps you identify duplicates and irrelevant data and discard it, by direct updation of your CRM. This helps you reach the right prospects with accurate contact and company info.
The good market as well as competition research will help you in the planning stage with finalizing a budget, selecting a venue, securing sponsorship, promoting, and marketing your event.
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