“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.”
Don’t let anyone tell you that you must track certain KPIs just because “that’s what businesses do.” Your business is unique, and your approach to data should be too. Remember this As an event pro, you’re in the business of creating moments that matter. It’s time to apply that same philosophy to your data strategy by identifying and using metrics that matter. Embrace the power of small data by identifying the three to five metrics that truly drive your business. Set up simple systems to track these metrics consistently, and make it a habit to review and reflect on this data regularly. Remember, in the data world, sometimes less is more. It’s not about having all the data—it’s about having the right data and knowing how to use it. That’s how you create a big impact with small data. Christie Osborne is the owner of Mountainside Media, a company that helps event industry professionals and brands develop scalable marketing strategies that bring in more inquiries and leads. Christie is a national educator with recent speaking engagements at NACE Experience, WIPA, ABC Conference, and Catersource + The Special Event. Christie regularly shares industry insight in her Special Events column, as well as other industry publications and blogs.
marketing metrics for additional insights and context. • Analyze with context: Look at your data regularly, but don’t just skim the surface. Ask yourself what the numbers mean in the context of your business and your goals. • Make informed decisions: Use your insights to guide your strategy. Should you focus on getting more inquiries, or on converting more consultations to contracts? • Monitor and adjust: Keep an eye on your key metrics and be ready to adjust your approach based on what you see. This framework allows you to make data-driven decisions without getting bogged down in analysis paralysis. It’s about being smart and focused, not overwhelmed and scattered. Case study: Small data success in event planning Let me share a quick story illustrating the power of this approach. A client of mine, an owner of an established wedding business, was convinced she needed to ramp up her Google Ads and Instagram advertising to get more leads and sales. Her instinct was to throw money at marketing and hope the problem would be fixed—a common reaction when revenue is down. But when we looked at her small data set—specifically her lead-to-consultation rate and her close rate—we discovered something interesting.
She was getting plenty of leads, but only a small percentage were booking consultations. Of those who did book consultations, however, a high percentage went on to sign contracts. The insight was clear: she didn’t need more advertising; she needed better lead nurturing. By focusing on improving her follow- up process with leads, we raised her inquiry-to-consult rate from 5% to 10%. She was able to book more consultations and, ultimately, more weddings—all without spending an extra dime on advertising. See how a few well-chosen metrics, thoughtfully considered, can save significant time and money while driving real business growth. Overcoming common data challenges Now, some of you might be thinking: “But aren’t there certain metrics every business should track?” or “Don’t I need to look at all my data to get the full picture?” You’re not alone. These are common data and analytics misconceptions, especially among businesses who rely on in-person consultations for bookings. The truth is that the most important metrics are the ones that help you solve your specific business problems. If you’re struggling with sales, for instance, looking at website traffic data isn’t going to give you the insights you need. The key is to start with your business problem, then determine which metrics will give you insight into that problem.
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SPECIAL EVENTS FALL 2024
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