Sales Data Management

How well do you know your customers? How much information do you have on their marketing expenditures? How much information do you have on their target market?

I'm sure some events are knocking it out of the ball park with all of the data they collect.
However data is only as good as the collection process.

Let's look at the dollars and where are they being spent. Now if your doing your business correctly you have a good understanding of what media vehicles your exhibitor customers are using. Now can you get to the exact dollar on how much they are spending in trade pubs, online, private events, direct mail, data collection, list managment, social media, tv, radio, other events, your event etc.

No you may never be able to get to the exact dollar but you can get close. Now I may have to much big brother in me and I may believe in over collection of data. Whenever people say well you want to collect this data, but how are you going to use it? I may not always have the exact answer at that time. However data is there to be extracted when you need it. If you never collect it you will never know.

I believe we need to know where our customers are spending their money on marketing. We are a marketing vehicle. Now we also may not know how much of that marketing money is going to exhibit costs such as drayage, travel, food, entertainment etc. I know that it will be hard to get to an exact science on these numbers. However it's important that we get as close to these numbers as possible.

Ok, so if they exhibit at your show. We need to track as much as we can what it costs for them to exhibit at our event. Next we need to track where else they exhibit and come to some conclusion on how much they are spending on these events. Media spending, we need to track their advertisments, believe me I think it will be beneficial in the long term to have an understanding ofwhere they are spending their money.

I would track every show they exhibit in. I would track every month they advertising in a magazine by magazine. I would search the media online and see where they are buying online ads, banners etc. I also would track their co-programs with other exhibitors, individual open houses, e-promotions and more.

The point is we need to understand the money flow and where it's going and why.
Also we need to look for patterns to see if marketing dollars are decreasing in certain areas.
Example exhibit space. Have they been making decreases in your event but expansion in others.
Increasing ads in one pub, but getting out of another completely.
Are they spending more or less on sponsorships? Are they doing more or less direct mail? (Get on their lists for direct mail, you or someone should be on every exhibitor or media promotion lists. Also as a sidebar understand what they are pushing in these messages.

Also know which associations they belong to and how they are supporting them, and if they are opting out of them. Follow the money trail. Believe it or not if you put this information in play it will help you gather a better understanding of what is working or not working for your customer.

Track it by year and be able to see how the money is flowing or not flowing into various marketplaces.
They would be surprised to know that you are paying attention. Like I saw your banner at x or your ad in y.

These companies that are your exhibitor will make shifts you marketing allocation. If you have an understanding of where the money is going you may be able to position them into an opportunity to succeed at your event f2f or online with your website. Again I believe this data collection is important.
If you see them downsizing or stop exhibiting at shows these metrics in place may give you and idea why. Don't get me wrong you still need to speak to them you still need to understand what budget funds what. By gathering this information which many may do, which I doubt will give you the intelligence you need to offer a superior product based upon your exhibitor customers needs.

Well your saying that is alot of work to track their space at each show they exhibit at or there is information you just cannot gather, or your sales people just don't have the time to collect such data. Well you know what your losing out in the possible understanding of your customer and where the money flows. You need to make sure someone is doing. Heck right now it's vital as every dollar is being scrutinized.

This data collection may keep you ahead of the curve and provide your group a vehicle a tool to keep them from downsizing on you or spending less in your sponsorships or marketing ops programs.

Give it some thought You might find it works and is worth the time.

Good luck remember everything comes down to numbers and there is nothing better than good data collection and good information gathered personally or thru these means.