We talk a lot about data over here. After all, it’s our bread & butter and the hub behind our system. We also know that not everyone is as fanatical about data as we are, and that’s ok. In fact, that’s why we’re here — to help you make sense of your information and understand how to use it to your advantage.
Here are 5 ways for you to use your data to drive your event or venue forward.
1. Track Business Results
We’re starting with the most obvious: data allows you to track your business results and performance. What’s not so obvious is that this doesn’t mean you need to spend hours combing through spreadsheets of data points to draw your conclusions. Our system allows you to manage all areas of your event or venue from one dashboard, which in turn tracks data from each area to your analytics section of your dashboard. This is then displayed in visual charts and graphs that show exactly what you need to know in mere seconds. We do the hard analysis work for you so you don’t have to. This information includes:
• How much money you made over a given time period or for a specific event
• When your customers start buying tickets to your event, and when the uptick of ticket sales really begins
• How many customers walked through your door over a given time period
• Real-time information on when guests are checked-in and how many people are currently inside your venue
• Which days of the week you sell the most inventory
• Which staff members are bringing in the most guests (and the biggest spenders)
• Which promotions bring in the most traffic
• Which of your marketing channels have the highest conversion
2. Get Privy with Staff Involvement
Data doesn’t always have to be about tracking revenue. As noted above, you’re able to track which of your staff are bringing in the most customers along with the biggest spenders. So if you’re paying people out based on metrics, you now have clear metrics to work from. Each staff member gets his/her personal login to the system, which then tracks their activity. They each also receive their own affiliate link they can use to promote your event or venue, which tracks click and conversion rates for customers buying tickets or making reservations. This information not only allows you to understand your staff’s involvement with driving guests through your door, but also allows you to reward and incentivize employees based on their performance. And when employees feel recognized and rewarded, they tend to work harder for you to drive even more success.
3. Understand Customer Habits
When you use a system to manage your operations, you’re able to track guest history and information. This includes their name, contact info, how many times they’ve been to your venue, which events they bought tickets for, which ticket type they purchased, whether they’re a pre-sale/general admission/VIP customer, which promotions brought them in, and how much money they’ve spent at your venue or event. This information on each individual guest at the palm of your hand allows you to provide personalized service. And that personalized service makes them feel appreciated and recognized, which oftentimes leads them to spend more money with you. This also gives you the opportunity to run better, more effective marketing campaigns to keep these guests coming back, as explained in the next point.
4. Run Better Promotions
Venues end up spending marketing dollars on mass marketing efforts (or sometimes no marketing at all), blasting vague messages to a broad range of people who may or may not be their customers. All because they don’t know who their customers are. With the digital system, you have a complete buyer persona for all of your target customer segments, including demographic, geographic, and psychographic information. Use this data to your advantage. Filter your audience into specific customer segments and send messages that are 100% specific to that audience. You can send that message through email, text, and social, each channel targeting your individual customers. Use affiliate links to track which channels are bringing the most clicks and purchases based on your call to action. With this data, you’ll uncover exactly which marketing channels work the best for you and your audience, and which messages drive the most conversions. Now you’re not wasting your marketing dollars on mass marketing that doesn’t work, and are instead investing it toward strategic personalized marketing that brings an even bigger bang for your buck.
5. Increase Revenue
All of this information is what gets you a true sense of how you’re performing, from your venue to your customers to your staff. It’s what allows you to understand what is and isn’t working so you can make the necessary changes. Is a certain promotion bringing in a ton of people? Keep doing it! Is a promoter not providing results? Fix it. That’s the power of data. You get true clarity about your performance and can make data-driven decisions to increase your revenue. Stop spending money in areas that aren’t working for you, and start putting dollars behind those that are making you even more. You’re no longer guessing or making emotional business decisions. You now have your own business results to leverage your success.
Contact Whitney Larson at whitney.larson@vemos.io or fill out the form below to get started on tracking and using your data today.
