The Importance of Historical Data for Event Planning
Historical data for event planning can help you make smarter decisions about future events, from who to invite to how to reach them. With that in mind, the term "data" is quite broad — what should you collect, how should it be collected, and what can you do with it? This guide covers the essentials.
What Are the Types of Historical Data for Event Planning?
You can collect a lot of types of data from an event. Knowing what information is worth saving will keep you from getting overwhelmed. Here are some options to consider:
- Attendee data: Collecting voluntary information from people who attend an event can be a valuable way to generate interest in similar future events. You'll already have a sales funnel of viable leads.
- Artist details: From musicians to dancers, if your event involves artists, it's worth hanging onto details like their contract, advance, and payment information. If you book the same creatives again later, you can pre-fill the information you need, saving time when drawing up contracts.
- Vendor and sponsor data: You may rely on vendors for everything from merch to food and beverage. Keep track of reliable suppliers so you can work with them again. The same goes for sponsors. Plus, as with artists, you may be able to reuse some details, like payment information, to pre-fill future contracts.
All of this can make future event planning more seamless and efficient. Whatever type of data you collect, make sure you're abiding by relevant data protection laws. For example, in the European Union, the General Data Protection Regulation (EU GDPR) applies.
Using Historical Data for Data-Driven Decision-Making
In addition to simplifying and speeding up planning, saving historical event data can also help make future events more successful by allowing for data-driven decision making. Data-driven decision-making simply means making decisions based on concrete metrics, facts, and information. This allows for a strategic business approach.
Take something like audience data. With this information, you can learn more about an event's attendees and create a target audience profile. This might include information from age to gender identification and geographical location.
With more details about your target audience, it becomes easier to plan events that will appeal to them. You can create a personalized experience that's in line with their wants and needs, considering details like venue access and location, food and beverage options, and activities.
Take something as simple as the venue layout. An auditorium full of Boomers may not care if an event location has Instagrammable spots. However, a crowd of Millenials and Gen-Z probably will!
Once you know your target audience, it's also easier to craft marketing materials that resonate with them. For example, if you're trying to target Gen Z, you might use a medium like TikTok. If you're after Boomers, a platform like Facebook may be the better choice.
The Benefits of Billfold POS for Keeping Historical Data
Capturing historical data for event planning gets a lot easier with Billfold, a multi-purpose POS that supports cash and bank cards, including payments via near-field communication (NFC), QR code, and radio-frequency identification (RFID).
Event attendees can set up their wallet ahead of the event or on site, at a Billfold kiosk. To get set up, users simply tap their wristband to their phone. This directs them to the Billfold wallet. If they have the native app, it opens the native app; otherwise, it opens the web app.
Users can then provide the information needed for a Billfold wallet, like their Gmail or Facebook account, where they live, their age, and more. The event organizer can gather additional information through optional, personally tailored polls—for example, asking questions like "Is it your first time attending this event?"
Billfold's marketplace management dashboard makes it easier to understand your operations at every level, with verticals for attendees, promoters, food and market stall vendors, bar licensees and management, market stalls, merchants, and more.
In addition to getting real-time analytics, Billfold also makes it possible to search historical data. By engaging with consumers directly, Billfold allows event planners to create precise target markets, understand purchasing behaviors, and develop more granular financial forecasts.
With this information, you can make data-driven decisions when organizing future events, boosting your odds of success and simplifying your planning overall. Discover Billfold for your next event.
