360° Review and Analysis
When it comes to measuring success and determining next steps for an event, it is easy to get caught up in small details and lose sight of the larger picture.
Organizations have told us they struggle with finding the time and resources to do a comprehensive review of event results. Your organization may be missing important data points and insight to determine if there are significant trends, risks and opportunities that can positively and negatively impact your event. Without good analysis, leadership can’t make confident decisions and event teams end up implementing the same strategies year after year with disappointing results.
Even if your organization conducts event reviews, the analysis usually covers only one year of data and could be biased. Analyzing multiple years of event data can uncover issues and opportunities that may otherwise be missed. EAG can help organizations to break out of the status quo mode with an unbiased and thorough review & analysis.
Our process includes:
- EAG begins by collaborating with clients to identify “SMART” event goals that are:
- Time Bound
Our process is completed in approximately 30 to 45 days, providing valuable insight and strategies so leadership can make informed decisions and the event team can begin implementing new ideas that can start to improve performance immediately.
For those organizations thinking of acquiring an event property, EAG can assess the value of the event so leadership can make confident acquisition decisions. We review the financials, databases, customer lists, market position and other intellectual property and assets of the event and provide recommendations on the event’s estimated value and long-term potential.
It’s one thing to have insight and data to make informed decisions about your event. But, how does your event team know which new strategies to implement, the right messaging that will resonate with new target attendees and exhibitors, how to identify and implement the best technology, and other actions necessary to achieve desired results?
Business and strategic planning is important for any business. Without a clear plan, organizations may as well just throw a dart on a dart board to determine what to implement and goals to achieve.
EAG can develop a one-year business operating plan and long-term strategic vision for your event, providing a detailed road map to help your team navigate change management and stay focused on the right strategies and actions that can generate results.
Business Operating Plan (BOP): A detailed plan that provides the road map for your event team to successfully implement the next event. Each plan is customized based on the organization’s requirements and objectives. Ideally, the BOP should be done at least 30 days before the event has concluded, providing ample time for the team to implement new initiatives, programs and technology for the next event.
Clients will benefit by having:
- Financial targets based on reasonable goals and ones that align with the organization’s objectives
- Strategies that can improve financial results, build brand value and industry thought leadership and maximize budget and resources
- Clear and detailed sales, marketing and operations plans that the event team can successfully execute on-time and within budget
- Event metrics and milestones to measure ongoing success
- Effective technologies and tools to successfully implement initiatives
- Clear staff responsibilities and schedule to help the event team effectively execute the plan
Strategic Plan: This plan provides a long-term vision of what your event can look like three to five years in the future. The plan includes new strategies, programs and ideas to reimagine, revitalize or increase results for your event based on the organization’s objectives and goals. The plan also includes risks and competitive threats that could impede success.
Clients will benefit by having:
- A clear long-term vision and mission for the event
- Strong brand identity and positioning against competitors
- Realistic financial and attendance growth goals to keep the team motivated
- Investment and resources required to achieve financial targets and event objectives
- Strategies and ideas to grow revenues and attendance / exhibitor participation each year and improve engagement and satisfaction for all participants
- New opportunities to expand in the market to attract new groups of attendees and exhibitors
- Technology platform needed to improve performance and overcome data and reporting challenges
- Event metrics, milestones and industry benchmarks to effectively measure on-going progress and ensure annual goals and objectives are met
- Opportunities to leverage the event/ to achieve organization enterprise objectives
Analysis and planning can help your organization to adapt for the future and be ready for transformational change. Organizations should incorporate analysis and planning year-round to adjust plans and continually look for areas of improvement.