This article comes second in a series about utilizing analytics at your association. Read Part I here.
At Association Analytics, we work with many associations who want to create the best offerings for their members, including attractive and exciting conferences. We help them use data to ensure their events are purpose-built for potential attendees.
We once worked with a client that always held their annual meeting in Las Vegas because they assumed it was a place people wanted to go. However, when we looked at the data, it turned out the organizations that would send the most people to the meeting were located on the East coast. By moving the meeting closer to them, they tripled the number of attendees in two years. It was a simple case of trusting the data instead of relying on instinct, politics and tradition.
Meetings and events are a primary source of revenue for many associations. Another client I worked with had a board that set an aggressive goal to triple the number of registrants attending their events per year. This was five years ago, and they were not using any data modelling or segmentation. To achieve this goal, they decided to triple the number of events they held. As you can imagine, this was an expensive failure, and the number of attendees only increased by a quarter.
We stepped in and profiled the optimal customer by segment, looked at behavioral analysis to get a snapshot of their online activity, and ran a propensity model to identify those most likely to register. Using predictive analytics, we automated recommendations for next-selling, cross-selling and upselling with different events. We also profiled the optimal “customer” and then harnessed data from the wider ecosystem of the industry, beyond existing members, to understand what types of topics were of interest to the wider community of interest for this association. This increased the amount of participation and engagement extensively and within 5 years they had tripled the number of registrants.
These are just a couple of examples of how data analytics can steer your association in the right direction. Embrace it!