MARKETING & MEDIA
Small Data, Big Impact: Boosting Marketing ROI with Focused Analytics
By Christie Osborne
• Number of inquiry forms submitted through your website • Percentage of inquiries that turn into consultation bookings • Rate at which consultations convert to signed contracts • Average value of each contract By concentrating on these key metrics, you gain a clear picture of your business’s health without getting lost in a maze of marketing metrics. This approach is particularly powerful for service-based businesses, where personal touch is at the heart of every sale. From small data to big impact: A simple framework Ready to harness the power of small data? Here’s a straightforward framework to get you started: • Identify your key metrics: Start at the bottom, where the money is, and work your way up. What are the crucial steps a potential client takes from seeing your marketing to signing a contract? Those are your key metrics. • Set up focused data collection: If you haven’t set up Google Analytics 4 (GA4) yet, now’s the time. Don’t worry about tracking everything— focus on the metrics you identified in step one. But don’t stop there; look at your CRM numbers or email
Let me guess: You’re a seasoned event pro juggling multiple clients and deadlines, all while managing a team. Your Google Analytics 4 (GA4) that you rushed to set up before Universal Analytics went away hasn’t been touched since. Or maybe you never bothered to set up a new analytics account. After all, you don’t need numbers to tell you what you already know— inquiries and sales have been down all year. In fact, 2024 might be shaping up to be your worst year since before the pandemic. In an industry driven by personal touches and magical moments, diving into data can feel like the last thing you want to do. But what if I told you that the key to turning things around isn’t in more data, but in smarter data? The power of small data for event professionals “Small data” in marketing isn’t about ignoring analytics; it’s about focusing on a handful of meaningful metrics that directly impact your bottom line. It’s quality over quantity, depth over breadth. For event professionals, small data might include:
It’s not about having all the
data— it’s about having the right data and knowing how to use it.
10
SPECIAL EVENTS FALL 2024
Powered by FlippingBook