Earlier this week, I had the privilege of presenting on a webinar hosted by new NACDA affiliate NAATSO (National Association of Athletic Ticket Sales and Operations). The presentation was entitled “Actionable Analytics – Turning Data into Dollars” and featured me, Leigh Wojtkiewicz (Product Manager at Spectra) and Michael Rust (Database Marketing & Analytics at Miami University of Ohio).
The webinar focused on several aspects of actionable analytics including learning to leverage data, data organization, utilizing data to increase sales, and relying on KPIs to make business decisions. Here are a few of the session’s key takeaways:
- Set a solid foundation. Before reporting and analyzing your data, you must make sure that data is clean and consistent. Create a ‘data language’ to make all inputs consistent, and hold everyone who touches the data accountable. Make sure the data is organized appropriately and categorized as much as possible to enable users to manipulate, it and derive decisions from their analyses.
- Have a goal in mind, especially when first starting out. Determine what you are trying to accomplish and develop and then act. Assess your current situation, identify pain points and areas for improvement; then, create a wish list of best-case scenarios.
- Start small. Think of data-driven decision making in a spectrum: you must crawl before you walk, walk before you jog, then run, then fly!
- Become an expert at utilizing what you already have. Use ticketing data to create initial reports, then grow that by layering in more complex elements and external data.
- Act based on what you find. Track attendance behavior, and cater engagement campaigns accordingly to attempt to retain current buyers, or utilize market research to identify pain points amongst constituents and use the feedback to make impactful changes.
- Capture as much information as possible. There are lots of opportunities to obtain more information from buyers, attendees and fans. This data allows you to further understand who is engaging with your property, and can steer how you engage back.
To view a recording of the webinar, please click here.
How does your business turn data into actions? Let us know!