A technology association experienced financial decline, and our client asked our strategy and measurement team to identify potential contributing factors and formulate a solution.
Looking at the Big Picture
The association had previously conducted research on its attendees and exhibitors, but the information was housed in the separate silos of attendee marketing and exhibit space sales. In order to make sense of these disparate data points, we worked together to take a holistic view of the event by combining survey results and financial metrics to identify the root causes behind the show’s recent decline. Pulling all these diverse data points into our proprietary dashboard, we were able to shine a light on several opportunities to improve the client’s sales and marketing efforts.
Comparing Against Benchmarks
The event’s profitability had remained steady at our benchmark levels; however, revenues were in significant decline. Although total attendee acquisition costs were in line with our benchmarks, we uncovered that costs per net attendee were twice our benchmark level and the number of attendees had been in steady decline.
We also examined sentiment to gain a better view. The drastic decline in this show’s Net Promoter Score® and a low “overall value” rating among exhibitors was cause for concern.
Taking a Holistic Approach
By taking a more holistic approach to evaluate the health of the show, we revealed the high costs of attendee acquisition and the lack of investment in exhibit space sales as major issues to address in order to gain more attendees and revenue.
Our client quickly broadened its attendee marketing efforts and increased its investment in exhibit space sales. After they reached out to new sources for potential attendees and changed the approach to attendee promotion, the association brought costs more in line with our success benchmarks. In addition, the increased investment in exhibit space sales brought the event closer to benchmarks and improved the association’s exhibit sales.