One of the first places I start with any client is a customer marketing assessment. This proprietary assessment is a deep dive into several important marketing and financial data points.
Assessments involve straightforward questions that make most event organizers blush. Why? Because most event organizers cannot answer basic questions about their own event. Questions like, "approximately how many tickets did you sell last year?" Their response, "we're not really sure."
Or, "What was your most effective advertisement?" Then, several different answers are given. In some cases, event organizers don't even know where to find their own information. That's not good!
If you can't answer fundamental marketing and financial questions about your event, you're not going to be successful.
A worrisome trend across almost every assessment is how much valuable customer data gets neglected. Events spend tens of thousands of dollars (sometimes hundreds of thousands) on marketing campaigns and generate customer data via ticket sales.
Years ago, a customer marketing assessment uncovered a client's database of 90,000 unique customers. That customer data sat neglected for years. Once customer data goes unused, it beings to die. Customers change their email address, mobile number, and move around. Because the data was neglected for so long the client's customer database of 90,000 customers dwindled down to 50,000. That's a 44% attrition rate!
All that valuable customer data collected "digital dust."
If you have any type of customer data for your event, don't neglect it! Find ways to reach out to your customers regularly. By doing so, you help to keep a digital relationship and your data alive.
In March's "Event Profit Report," we'll explore a proven way for you to collect new leads for your event 24/7/365, even while you sleep. By doing so, you blunt the attrition of your customer data.
Here are some additional articles on planning a successful event:
- The Importance of Market Research in Planning Your Event
- An Extremely Dangerous Event Planning Mistake
- Your Event Promotion and Marketing Strategy - Start Point
- Event Planning: The Customer Avatar and Your Event
- Two Amazingly Powerful Event Survey Questions
- A Killer Social Media Promotion Strategy for Your Event